http://www2.cohen.06.thirdwavellc.com/content.cfm/blog?topic=capital-markets-finance en-us 2012-05-17T08:01:17-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2012-05-15 <p>As I get ready to embark upon my annual pilgrimage to the ICSC in Las Vegas, I can't help but think about how far we've come the past few years. It wasn’t long ago that newly built NNN Walgreen stores were selling for 8 CAPs. <a href="/content.cfm/blog-2012-05-15">read more</a></p> Dan Rosenberg Capital Markets Finance 2012-05-15T14:29:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2012-04-16 <p>Here’s what they are telling us…..Over the last 12 months, the Chicago area all items CPI-U increased 1.6 percent. The energy index rose 2.0 percent since last February, primarily due to price increases in gasoline. The all items less food and energy index was 1.2 percent higher over the year. Here's what we're actually experiencing….. <a href="/content.cfm/blog-2012-04-16">read more</a></p> Christopher Carroll Capital Markets Finance, Industry Trends 2012-04-16T14:33:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2012-02-13 <p>Our newest edition of Financing Notes is now available. Jack M. Cohen discusses: How investors must accept more risk for lower yields. The wall of maturities that are beginning this year, how will they be refinanced? EQUITY! The continued need to de-leverage which will take time to accomplish. Unemployment and geo-political factors will continue to cause uncertainty in the economy and hinder the recovery. CMBS will continue to strengthen, but may be three more years before it is over $100 billion. The best safeguard for our banking system is capital, capital, capital. <a href="/content.cfm/blog-2012-02-13">read more</a></p> Jack M. Cohen Capital Markets Finance, Industry Trends 2012-02-13T12:00:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-11-10 <p>Fall has arrived and with it comes a series of industry functions where many people in commercial real estate finance come together to kick around a few ideas and share view points about their corners of the industry. I was recently at events for CRE Finance Council and the Real Estate Roundtable and I’m off to attend the Urban Land Institute fall meeting. I wanted to share with you some of my observations on what I’m hearing. <a href="/content.cfm/blog-2011-11-10">read more</a></p> Jack M. Cohen Capital Markets Finance 2011-11-10T13:52:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-09-28 <p>Ask four colleagues how they take their morning coffee and you are likely to receive four varying responses; loads of sugar, black, splash of cream or packet of artificial sweetener might be some replies. Such is the case with hospitality lenders – each has specific likes and dislikes when it comes to financing the right hospitality project <a href="/content.cfm/blog-2011-09-28">read more</a></p> Greg Dietz Capital Markets Finance 2011-09-28T11:00:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-08-29 <p>Earlier this month, the Dow Jones newswire reported that Deutsche Bank and UBS offered a $1.4 billion in CMBS for the first time since the market's recovery from the financial crisis. The deal offered investors 30% in credit protection, nearly double the levels in their June multi-loan offering and it was the first 2.0 era deal to include a publicly registered portion. <a href="/content.cfm/blog-2011-08-29">read more</a></p> Jack M. Cohen Capital Markets Finance 2011-08-29T16:43:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-03-25 <p>Life insurance companies are back. Beginning in the second quarter of 2010, life insurance companies slowly re-emerged as an important source of debt capital for commercial real estate. During the last halcyon year of 2007, the CMBS market produced over $230 billion of capital compared to $40 billion for the life insurance industry. Presently, life insurers account for 22 percent of the $2.4 trillion of total outstanding commercial real estate debt. <a href="/content.cfm/blog-2011-03-25">read more</a></p> Michael E. Grant Capital Markets Finance 2011-03-25T14:12:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-02-24 <p> At the beginning of the month, over 3,000 professionals from capital providers and mortgage banking firms descended on San Diego for the annual MBA-CREF convention. Guarded optimism prevailed with most people believing that the worst is behind us, values have bottomed and have started to recover, abundant capital exists for the &ldquo;right deals&rdquo; and interest rates are on the rise. <a href="/content.cfm/blog-2011-02-24">read more</a></p> Joseph N. Hevey, Jr. Capital Markets Finance, Industry Trends 2011-02-24T13:58:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-01-25 <p> Commercial real estate property owners continue to face situations where the current appraised value of their investment is less than the total amount owed in financing. When that financing consists of CMBS structured debt, trying to find a way out can be complicated and every situation poses its own challenges. Despite the loss of equity, some owners will attempt to carry the property with additional cash out of pocket, but this strategy often only provides additional time before needing to make more difficult decisions. <a href="/content.cfm/blog-2011-01-25">read more</a></p> Deborah Schiavo Capital Markets Finance 2011-01-25T14:35:00-05:00 http://www2.cohen.06.thirdwavellc.com/content.cfm/blog-2011-01-11 <p>Our newest edition of Financing Notes is now available. Jack M. Cohen discusses: The ongoing capital distribution problem The availability of capital for trophy real estate and dearth of capital for everyone else Jobs! What effect they have on CRE The lasting impact of this economic cycle on CRE Political risk Surgery anyone? Who will be the first to take the remaining losses needed for everyone to move forward? <a href="/content.cfm/blog-2011-01-11">read more</a></p> Jack M. Cohen Capital Markets Finance, Industry Trends 2011-01-11T13:11:00-05:00