November 28, 2008 - US Market Confidence
Philip Blumberg of Blumberg Capital Partners talks about the mistakes made in our current economy and the US working to restore confidence in our market.
November 27, 2008 - Free drinks dry up as business media meets Wall St
New York’s business media discovered a tangible consequence of the financial crisis last Friday: no more free drinks at their annual black-tie gala. The reason? The New York Financial Writers’ Association, which holds the Follies at the Marriott Marquis Hotel in Times Square, could not get anyone to sponsor the $25,000 tab.
November 26, 2008 - Siegel Associates Purchases JFK Medical Plaza for $8.3M
New York City-based Philips International has sold the JFK Medical Plaza for $8.3 million to Siegel Associates, according to a crefeed.com article. “In a very difficult real estate environment, we were able to find a focused buyer who understood the dynamics of the local market,” said Michael Pilevsky, managing director of Philips International. “The building [...]
November 25, 2008 - Philip Blumberg to Speak at the Distressed Residential Real Estate Symposium
The Information Management Network has organized the leading industry event geared towards Distressed Residential Real Estate Buyers & Sellers, inviting Philip Blumberg of Blumberg Capital Partners to join its panel of experts discussing opportunities in the sector.
November 24, 2008 - Citigroup Gets $306B Bailout
The Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. announced this weekend that it would provide a multibillion-dollar backstop for Citigroup. In agreeing to protect Citigroup against potential losses on a $306 billion pool of troubled assets, the government made clear that it was not going to allow one of the nation’s largest [...]
November 21, 2008 - Time to Upgrade?
Philip Blumberg of Blumberg Capital Partners comments on why average Americans should be buying residential properties for themselves, not for investment.
November 19, 2008 - CMBS Market Shows Fissures
The market for debt used to finance commercial projects fell yesterday, propelled by concerns that the long-feared rise in defaults for commercial mortgage-backed securities has begun, according to a Wall Street Journal article. Credit Suisse analysts indicated that two big commercial mortgages that were packaged into securities in the past year are likely to default; [...]
November 18, 2008 - Cassidy & Pinkard Colliers Secures $194M Loan
Cassidy & Pinkard Colliers has closed a $194,000,000, 54-month construction loan for 1000 Connecticut Avenue, NW, a 12-story, 383,392 square foot trophy office building under development in Washington, DC according to a crefeed.com article. Cassidy & Pinkard Colliers arranged the construction financing on behalf of the owner, Connecticut & K Associates, LLC. The financing was [...]
November 17, 2008 - Grubb & Ellis acquires Houston’s Oak Park Office Center III
Grubb & Ellis Realty Investors, LLC has acquired Oak Park Office Center III, a Class A office building in Houston, on behalf of tenant-in-common investors from Realty Associates Oak Park III, L.P., for $34 million as reported in a GlobeSt.com article. According to Grubb & Ellis Company’s most recent Office Market Trends Houston report, overall [...]
November 14, 2008 - Making Market Decisions
Philip Blumberg of Blumberg Capital Partners discusses how BCP makes decisions about property acquisitions, especially in the current market climate.
