Philip Blumberg’s blog

BRAC Program Spurring Commercial Development in Northern Maryland

2009-11-05T15:55:46Z

The Defense Department's Base Realignment and Closure program has created a flurry of development around the Aberdeen Proving Ground in North-Eastern Maryland. The Department of Defense C4ISR Mission (Command, Control, Communications, Computers,...

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LoopNet Q4 Poll: When will the Market Recover?

2009-11-04T13:25:04Z

LoopNet conducted a poll of its members -- groups of investors, brokers and owners -- last month and asked where they thought the commercial real estate market was headed in the coming year. Optimism for 2010 may have broken as respondents seem ...

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Groundbreaking in Santa Barbara for Largest Ever South Coast Development

2009-11-03T19:51:15Z

Executives from Sares-Regis Group and Pacifica Commercial Real Estate gathered on Sunday to break ground for a new office and retail development next to Santa Barbara's Municipal Airport. The 14-acre first phase of the 96-acre Cabrillo Business ...

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$250 Million Mixed-Use Development on Track in DC

2009-11-03T04:16:54Z

Construction continues on a $250 million mixed-use development in Washington, DC's Foggy Bottom neighborhood. Dubbed "Square 54", the development sits on 2.4 acres of land owned by the George Washington University adjacent to Washington Circle an...

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New Federal Guidance on Prudent Commercial Real Estate Loan Workouts

2009-10-30T14:24:14Z

The Federal Deposit Insurance Corp., the Federal Reserve, the Office of Thrift Supervision and the Office of the Comptroller of the Currency released a new policy statement to assist examiners in evaluating institutions' efforts to renew or rest...

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Beige Book Shows Scattered Bright Spots

2009-10-29T14:36:50Z

The Federal Reserve Board released the latest Beige Book this week showing either stabilization or modest improvements in many sectors, but still finding commercial real estate on shaky legs with conditions described as either weak or deteriorati...

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Landlords Cut Rent and Raise Incentives for Office Buildings

2009-10-28T14:28:48Z

The Wall Street Journal published an article examining the current climate for office building owners who are looking to keep the tenants they have in the face of one of the worst commercial real estate markets in decades. It's noted that while ...

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MBA Commentary: Mortgage Slump, More Changes to Come

2009-10-28T00:10:16Z

Mortgage applications slumped again last week marking the third decline in three weeks, despite the slight dip in rates moving from 5.07% two weeks ago to 5.04% last week, reports the Mortgage Bankers Association (MBA). The association also rele...

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Capmark Financial Files for Bankruptcy Protection

2009-10-27T03:02:28Z

Capmark Financial Group, the commercial real estate finance company, filed a voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on Sunday. In the filing, Capmark ...

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Wall Street Journal Tracks Failed Banks

2009-10-23T23:15:02Z

U.S. Bank failures for 2009 have passed the 100 mark, with 106 counted banks having fallen by market's close on October 23, the largest number since 181 collapsed in 1992 during the savings-and-loan crisis. The pace of the failures has been slow...

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