Real Estate
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News and Views
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Macro/Technicals
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Sector News, M&A, Capital Raises
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Cantor Flows
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News and Views
We've come a long way in a week from 667.71 in the RMZ on August 27th to these lofty levels, almost 8% higher. Mariner Holdings has purchased 40% of a $760M portfolio of property loans from the FDIC for a mere $52M, or 31c on the dollar. News and merchandise flows should be light today with traders focusing on the 8:30 jobs numbers for direction. Hopefully we can hold these recent gains into the weekend. On the desk we were better for sale.
Macro/Technicals
RMZ: 720.17; +9.24; +1.30%XHB: 15.16; +0.4375; +2.972%
BJK: 26.31; +0.19; +0.727%
Leaders: MPEL +12.79% BZH +7.12% GET +7.04% MNTG +6.22% MHGC +4.92%
Laggards: TWO/WS -12.31% REDW -5.56% IOT -5.34% WOLF -5.05%
Sector News, M&A, Capital Raises
Value of California's properties falls 1.8% to $4.4 trillion from Los Angeles Times
Forty-eight of California's 58 counties saw totals fall this year — nine by more than 5%, the state Board of Equalization reported. The total value fell 2.4% in 2009.
The Golden State's real estate market lost a bit more of its luster as the total value of California's properties fell for the second year in a row — and for the second time since records were first kept in 1933 at the depths of the Great Depression.
Stuytown stall from NY Post A New York judge will rule later this month on whether to let hedge fund honcho Bill Ackman go through with a plan that will put him in control of landmark Manhattan apartment complex Stuyvesant Town-Peter Cooper Village. Until then, New York Supreme Court Judge Richard Lowe is blocking both...
o Goodman sells CMBS notes to Challenger from Business Spectator
o Offer is the second CMBS issue this year.
Value of California's properties falls 1.8% to $4.4 trillion from Los Angeles Times
Forty-eight of California's 58 counties saw totals fall this year — nine by more than 5%, the state Board of Equalization reported. The total value fell 2.4% in 2009.
The Golden State's real estate market lost a bit more of its luster as the total value of California's properties fell for the second year in a row — and for the second time since records were first kept in 1933 at the depths of the Great Depression.
Stuytown stall from NY Post A New York judge will rule later this month on whether to let hedge fund honcho Bill Ackman go through with a plan that will put him in control of landmark Manhattan apartment complex Stuyvesant Town-Peter Cooper Village. Until then, New York Supreme Court Judge Richard Lowe is blocking both...
o Goodman sells CMBS notes to Challenger from Business Spectator
o Offer is the second CMBS issue this year.
o Deutsche Bank Seeks to Foreclose on Moinian NYC Tower – BBG
o A unit of Deutsche Bank AG sued to foreclose on the Manhattan office tower that formerly housed Newsweek magazine, claiming that developer Joseph Moinian failed to repay a $250 million mortgage.
o KW Kennedy-Wilson, RECP/Urban and Capri Capital announce acquisition of Serenade apartment community from California Urban Investment Partners for $81.5M
o BlackRock Chosen by Insurance Regulators to Weigh CMBS Risks – BBG
o BlackRock Inc., the world’s biggest money manager, was hired by state insurance regulators to assess the industry’s potential losses from holding commercial mortgage-backed securities.
o BlackRock will review more than 7,000 securities by year- end, the National Association of Insurance Commissioners said yesterday in a statement released on its website. The New York- based firm will calculate loss expectations for the holdings, which will determine how much capital insurers must hold to cushion potential declines, NAIC said.
Cantor Flows
ARI, BRK-B, BYI, CDR, CHH, CTZ-PRA, DCT, DFT, DLR, DTG, EDR, FCE-A, H, HME, HOT, HOV, HTZ, KIM, LIA, MAC, MAR, MINI, PDM, REG, ROIC, SEMX, TCO, URI, WYN, WYNN