November 2009 Table of Contents

New Rule Allows CMBS Modification

THE ISSUE OF CMBS MATURITIES has loomed like a dark cloud throughout the recession. Read more

Waiting to Pounce

CASH IS KING, BUT THE KING has left the building. Read more

Corus Bank's $4.5 Billion Loan PortfolioSold

A consortium managed by Starwood Capital Group has acquired a 40 percent stake in a limited liability company that will hold an estimated $4.5 billion in troubled construction loans and real estate-owned assets the federal government seized in September from Chicagobased Corus Bank. Read more

Survival of the Fittest

LIKE RIVAL GAS STATIONS ON opposite corners, the price wars between Freddie Mac and Fannie Mae continue to benefit customers, with each agency picking its spots to steal market share from the other. Read more

Senior Needs Senior Needs

MICHAEL BERNE, managing director and head of the seniors housing capital markets team at Chicago-based Jones Lange LaSalle , sees one key thing in seniors housing: Demand. Today, there are nearly 37 million people 65 or older in the United States, according to the Census. Fueled by the aging B aby Boomer s, that number will reach 71.5 million by 2026. “The demographics of the aging population bode well for existing and new developments that focus on seniors,” Berne says. Read more

Lesson Plans Lesson Plans

ABANDONED FOR MORE THAN A DECADE, the former manufacturing home of the H.F. Miller and Sons tin box company provides the opportunity for a development team to think outside of the box as it leverages New Markets Tax Credits (NMTC) across the city of Baltimore. Read more

Pain in the Energy Capitol Pain in the Energy Capitol

TALK ABOUT SPIRIT OF SURVIVAL. Whether battling hurricanes as recently as Ike or working through the recession and regional financial collapse of the 1980s, Houston always seems resilient. However, difficult market conditions over the next 18 to 24 months will require intense navigation through a turbulent market in order to enjoy another liftoff beginning in 2012. Read more

Relatively Unscathed Relatively Unscathed

THROUGHOUT THE RECESSION, Oklahoma City has received a tremendous amount of national attention as a result of its relatively stable economy. And that attention is welldeserved. Read more


Phil Weber left his post as head of Fannie Mae’s multifamily division in late September to become an executive vice president at Austin, Texas-based residential developer Forestar Group. Read more

Coming Attractions Coming Attractions

The conventional wisdom in the multifamily industry is that rents and occupancies are declining, and that nothing is getting built these days. And that's true, as owners struggle through lean times and financiers continue to hunker down and wait out the recession. Read more

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