Wed, Nov. 30, 4:25 PM
- The five light industrial portfolios comprise 59 properties, 69 buildings, and 8M square feet in Atlanta, Dallas, Salt Lake City, Denver and Phoenix MSAs.
- HFF (NYSE:HF) worked with the borrower to refinance the debt on these properties, placing a total of five 15-year fixed-rate loans with two insurance companies.
Mon, Nov. 7, 4:33 PM
Mon, Nov. 7, 2:49 PM
- With a 26% gain in multifamily originations in Q3, Fannie Mae and Freddie Mac volumes (currently at $27B) are in danger of hitting the $36.5B cap for the year.
- The FHFA has already lifted the cap twice in 2016, and could decide to boost it again, suggests the team at Citigroup.
- Of possible interest to: Walker & Dunlop (WD +1.4%), Ladder Capital (LADR +1.7%), iStar Financial (STAR +0.9%), HFF (HF +1.4%)
Wed, Nov. 2, 4:48 PM
Wed, Nov. 2, 9:00 AM
- The company will enter the U.K. through its proposed acquisition of London-based Leon Partners Limited. The deal is expected to close early next year. It will be HFF's (NYSE:HF) 24th office, and first outside of the U.S.
- Leon Partners was established last year by two BAML real estate investment banking vets.
Wed, Oct. 12, 9:43 AM
Wed, Oct. 5, 4:30 PM| Wed, Oct. 5, 4:30 PM
Wed, Sep. 28, 4:41 PM
Thu, Sep. 22, 4:23 PM
Mon, Sep. 12, 4:31 PM
- Church Park is a 508-unit luxury apartment community with 74K square feet of retail in Boston's Back Bay. Working on behalf of The United Company Apartments, HFF (NYSE:HF) secured a $200M fixed-rate loan through a national insurance company and a $65M co-terminous mezzanine loan through JPMorgan Asset Management.
Tue, Sep. 6, 4:34 PM
Thu, Aug. 25, 12:20 PM
- Commercial real estate transaction volumes of $254.25B for year's first seven months, fell 15.4% from the same period in 2015, according to Real Capital Analytics (RCA). In July, $30.08 of deals was down 25% from a year earlier.
- Cap rates (except for hotels), however, continue to slide.
- As to whether there's a bubble, CBRE's (NYSE:CBG) Spencer Levy says no. as fundamentals across markets and asset classes remain strong. Levy also cites an influx of foreign buyers, noting their cost of capital is low and they're patient investors (but don't foreigners always pour in at the top?).
- Canaccord's Ryan Meliker isn't so sure about a non-bubble, noting teeny cap rates are a function of invisible interest rates. If rates can't stay low forever, than cap rates have to rise.
- One major source of demand has backed off: U.S. REITs' purchase volume fell 64% Y/Y in the first half vs. an 11% increase for institutional investors.
- RCA's Jim Costello sums up the bull case: Would an investor rather buy European bonds with negative yield, stick money in a bank vault, or buy some apartment towers which may face plenty of competition, but still generate some return on investment.
- Source: SNL Financial's Tom Yeatts, Jake Mooney and Chris Hudgins
- Tickers of note: WD, HF, STWD, MMI
Tue, Jul. 26, 10:31 AM
- The commercial property market slowed down in Q2, and CEO Mark Gibson expects some of the headwinds to continue in the second half of the year.
- Q2 company revenues of $117.7M slipped 5.9% Y/Y, and operating income of $17.6M fell 31.6%.
- Adjusted EBITDA of $28M fell 20.8% Y/Y.
- Total transaction volume of $17.1B and 528 deals vs. $18.8B and 549 deals a year ago.
- All this came amid a quick pace of hiring, with total employment of 863 up 13.9% Y/Y. Transaction professionals of 311 up 8.7%.
- HF -7.6%
- Previously: HFF misses by $0.10, misses on revenue (July 25)
Mon, Jul. 25, 6:43 PM
Thu, Jul. 14, 4:22 PM
- Closed is the sale of the high-street retail building housing Bijan on Rodeo Drive. Bijan is a fashion house catering to the jet set on an appointment-only basis.
- HFF (NYSE:HF) marketed the property on behalf of a confidential seller.
- It's been a busy 2016 in L.A. for HFF, with this sale following the sale of Runway Plaza Vista, as well as high-street retail deals on Melrose Avenue and Melrose Place.
Mon, Jun. 20, 4:27 PM
- Flats 8300 is a 359-unit apartment building with ground-floor retail in Bethesda, MD. HFF (NYSE:HF) marketed the just-built property on behalf of the seller.