May 14, 2007 | Vol. 4 No. 9

05/14/2007 Issue

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Volume 4 - Number 9 | May 14, 2007

TOP STORY: Few REITs Expected to Opt for Fair Value
By Erika Morphy
For the first time, a REIT that holds assets in a JV can elect to value those assets at a “fair value” accounting standard. The rule is effective with an entity’s first fiscal year that begins after Nov. 15, 2007, according to the Financial Accounting Standard Board.

Where Will Public-to-Private Equity Grab Lead?
By Erika Morphy
Public-to-private equity transfers of capital don’t get much bigger than Blackstone Group’s acquisition of Equity Office Properties Trust for $23 billion in cash in February. Such deals have nowhere in size to go from this point but down.

Money Adding Up for Value-Added CRE
By Joe Clements
AEW Capital Management LP has a new $651-million real estate fund focused on value-added opportunities, but principal Maureen Joyce stresses that value-add “is nothing new to AEW.”

Insider: PKF Capital’s Bob Eaton
By Erika Morphy
Some say it was only a matter of time before PKF Consulting Inc., a real estate firm specializing in the hospitality industry, formed a multi-service hotel brokerage firm. The new entity is PKF Capital.

Middle East Becoming the Inn Place to Be
By Joe Clements

What's Hot, What's Not

Retail REIT Sees Growth From Within

More Capital Matriculating to College RE

Executive Moves: David Lereah Plans to Leave NAR