Commercial Investment Real Estate

NOV-DEC 2012

Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.

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MARKETTRENDS Banks Take It Slow Offi ce Investors Move Out Midyear 2012 10 20 30 40 50 60 -40 -30 -20 -10 0 CBD acquisitions down 40% yoy "…Because CBD offi ces in primary markets are trading at such low yields,… many investors are shifting to the high quality suburbs." —Ben Carlos T ypin, director of market analysis, Real Capital Analytics 6 November | December | 2012 Commercial Investment Real Estate Suburban acquisitions up 51% yoy Banks will continue their slow deleveraging act for at least another year, according to Emerging Trends in Real Estate 2013, holding troubled assets while waiting for values to inch up. "As long as loans are current, lenders are better off to extend than sell loans at discounts, foreclose and recognize losses when markets have further room to improve, or refi nance at lower rates," says the Urban Land Institute/PwC report. Preferred Lender Strategies Sell to a Extend with mortgage modifi cation 54.7% third party 23.6% Foreclose and dispose 14.9% Extend without mortgage modifi cation 6.9% Source: Emerging Trends in Real Estate 2013 Rent Growth Outlook SECTOR Offi ce Industrial Retail Multifamily 2012 2.0% 1.6% 0.8% 4.0% Source: National Association of Realtors/REIS 2013 2.5% 2.4% 1.3% 4.1% Svluma/Veer; Ssuaphoto/Veer

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