Continuing on the Path to Recovery
In an abbreviated edition of his semi-annual podcast to members of the CCIM Institute, RERC's Ken Riggs noted that while investors remain nervous about the volatility we are seeing in the stock and bond markets, much equity is still sitting on the sidelines "looking for a home." Commercial real estate—and the reduced amount of risk associated with this investment alternative—is looking decidedly more attractive. Even so, investors are taking the time to “get it right” during this prolonged recovery period…
2010 To Be Another Tough Year
RERC's Ken Riggs notes that while institutional real estate has been forced to mark to market and prices are close to bottoming out, the broader commercial real estate market still has a ways to go and it will take some time to "come clean." Listen to Riggs' view of what the industry and investors should expect in 2010 and beyond.
Dealing with a Distressed Market
As the process of repricing and an increasing number of distressed properties create more uncertainty for investors, commercial real estate is facing its greatest challenges since the 1990s. What should investors expect over the near term?
The Impact of Cap Rates on Values
From a pricing and value perspective, the institutional commercial equity real estate markets are facing headwinds that were never imagined a couple years ago. RERC's required cap rates have increased and now stand at 8.4 percent, which is very close to the level recorded in first quarter 2004. The question is, how much further--if at all--will they increase? (The complete article, "Valuation Navigates Steep Cliffs," is provided in the summer 2009 issue of the RERC Real Estate Report.)
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Property Stabilization and Restructuring Services
RERC Affiliates with STAR to Provide Commercial Property Stabilization and Restructuring Services
Real Estate Research Corporation (RERC) is affiliating with Stabilized Asset Resources, LLC (STAR) to provide banks, pension funds, life insurance companies, and private high net worth clients with property analysis, stabilization, and restructuring services for stressed commercial real estate loans.
According to Jules H. Marling, III, managing director of RERC’s Chicago office, “Maximizing asset value—whether fixing the problems and holding on for better times or obtaining the best possible price on a sale of unwanted assets—is critical to resolving ‘at risk’ and deteriorating real estate loans. Associating with STAR for this service will help RERC do just that.”
Susan Tjarksen, managing director of STAR, will act on RERC’s behalf to provide value maximization and exit strategies for properties and portfolios. In addition, she will provide sensitivity analysis and stress testing of REO and problem loan portfolios, along with asset and property management services. Receivership assignments, construction project completion, and debt restructuring assistance will also be offered.
Tjarksen has 25 years experience working for private and public financial institutions and investors. Most recently, she acted as a receiver for residential, hotel, mixed use, retail, and office real estate assets totaling more than $500 million, and has handled foreclosure work totaling more than $600 million for banking and private capital clients.
Headquartered in Chicago, RERC was founded in 1931, and is recognized throughout the industry as one of the nation’s most respected firms dedicated to independent investment research, valuation, commercial real estate consulting, independent fiduciary services, and litigation support.
STAR focuses on working with clients to maximize the upside and protect the downside of an asset, while pulling together the appropriate real estate experts to successfully restructure the loan.
For more information about RERC’s property asset stabilization services through STAR, please call Tjarksen at 312-587-1800, ext. 20, or email her at stjarksen@rerc.com.