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Volume 3 - Number 24 | December 26, 2006
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TOP STORY: Borrowers Come Out on Top in Cash Flood
By Alex Finkelstein
Endless streams of cash are flooding commercial real estate and reshaping global property markets. “This is a tidal wave,” notes Michael Goldman, senior vice president of acquisitions and finance at Chicago-based Golub & Co.
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Investors Gravitate Towards Less than Investment Grade Sale-Leasebacks
By Erika Morphy
There is growing interest in below investment grade sale-leaseback investments by both established players and, more recently, by investors new to this real estate sub-sector. As has been the story throughout the commercial real estate markets for the past few years, investors are targeting subinvestment grade sale-leasebacks because cap rates are more favorable and returns more lucrative than comparable investment grade transactions.
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Insider: Lexington Corporate Properties’ T. Wilson Eglin
By Erika Morphy
Five weeks ago, shareholders in both Lexington Corporate Properties Trust and Newkirk Realty Trust Inc. approved Lexington’s proposed acquisition of Newkirk. Debt & Equity Journal caught up with T. Wilson Eglin, CEO of Lexington, to talk about his plans for the merger and his thoughts on the net lease industry.
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Resorts Roundup: Seminoles’ Credit Score Unchanged in Pending Hard Rock Buy
By Alex Finkelstein
The pending $965-million sale of Orlando, FL-based Hard Rock International Inc. and related entities to the Seminole Tribe of Florida hasn't changed the tribe's BBB minus issuer credit rating at Standard & Poor's. The deal with Hard Rock owner Rank Group plc of London is expected to close in March 2007.
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