LOS ANGELES-The apartment market has hit high gear, fueled by strong demand and cheap debt, but some in the industry question if the sector might be going too fast for conditions. Those were some of the sentiments expressed by brokers, lenders, receivers and other panelists at Thursday’sRealShare Apartments 2011, which brought out more than 1,400 industry leaders to the all-day conference and networking event in Downtown Los Angeles.
LOS ANGELES-Lenders large and small are trying to muscle their way into the busy multifamily market, yet Fannie Mae and Freddie Mac seem poised to remain the dominant lenders to the rental housing industry, according to industry experts at RealShare Apartments 2011 Thursday. The RealShare Conference Series is produced by ALM’s Real Estate Media Group, which also publishes Real Estate Forum and GlobeSt.com.
The cloud of distress is slowly dissipating over Southern California’s sunny skies, although some areas of concern still present challenges to real estate owners. The supply-constrained apartment sector and flourishing industrial property market present the least challenges to owners and financiers, while some retail and office assets, particularly in the Inland Empire and Orange County, have bigger hurdles to overcome. While these distressedassets present challenges to current owners and banks, they also present opportunities to buy properties at deep discounts.
CHICAGO—Despite the growing doubt over the European economic situation, a stateside jobs picture that only creeps ahead and a reported overall lack of confidence about the strength of the recovery, there is some good news emanating from Chicago this week. That’s where the Society of Industrial and Office Realtors is holding its annual Fall World Conference, with some 800 members in attendance.
CHICAGO-Despite the current slowdown in the global economy, the population growth expected in the next 40 years must boost CRE demand, said panelists at today’s PREA conference here.
CHANNAHON, IL-Keating Resources Inc., a developer based in Geneva, has purchased and industrial building measuring 850,000 square feet in Grundy County and plans to turn it into a rail-and-truck transfer factory.
MILWAUKEE-Athea Inc. has purchased an industrial building measuring 245,000 square feet at 1900 W. Cornell St. in Milwaukee for $4.4 million.
MUKWONAGO, WI-Madison-based Sara Investment Real Estate LLC has purchased an industrial building in Mukwonago for $1.75 million with plans to lease it to Gearbox Express
MENOMONEE FALLS, WI-R.J. Schinner Co. has purchased a building measuring 160,000 square feet in Menomonee Falls for $5 million from Maysteel LLC.
MENOMONEE FALLS, WI-Milwaukee-based Marian Milwaukee Inc. will relocate its manufacturing operations to a vacant building in Menomonee Falls.