December 2, 2008 | Vol. 6 No. 23

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Volume 6 - Number 23 | December 2, 2008

TOP STORY: LandAmerica QI Files BK, Terminates Operations
By Michelle Napoli
LandAmerica 1031 Exchange Services Inc. files for Chapter 11, putting $400 million of exchangers' funds into bankruptcy legal proceedings.

AIC Ventures Readies for Eighth SLB Fund in 2009
By Michelle Napoli
The Austin company says acquisitions this year will total $300 million and it's planning its eighth fund.

Tenant Sector Update: Rising Credit Risk for Restaurants, Fitch Warns
By Michelle Napoli
Fitch Ratings' overall outlook on the dining sector is negative, but acknowledges fast food could be better able to withstand the current downturn.

Capital Markets Update: No Signs of Credit Thaw
By Michelle Napoli
Experts say freeze continues in the markets, with life companies and regional banks the only ones offering loans.

Target Rejects Pershing Square’s Real Estate Proposals, But Ackman’s Not Done
Target Corp. reports there are enough holes in the Pershing proposal to decide against it, though Pershing will try again after the new year.

GM Hires JLL to Reap Millions in Site Sales
By Robert Carr
The giant automaker taps Jones Lang LaSalle to sell assets in order to boost liquidity.

Data Points: Cap Rates Up, Sales Down for Single-Tenant Office, Industrial
Real Capital Analytics recently reported that Q3 cap rates at 7.11% in the single-tenant office category and 7.34% in industrial property sales.