December 31, 2008 - Blumberg Capital Partners Chief Spotted the Crash and Exited Two Years Ago
Philip F. Blumberg may not have a crystal ball on his desk but says he spotted the current commercial real estate price drops two years ago and yanked his Blumberg Capital Partners company off the playing field.
December 30, 2008 - Commercial estate bailout needs ‘painful deleveraging’ to succeed
Blumberg Capital Partners’ new office market assessment, which takes into account the fresh economic data from the past two months, comes on the heels of its widely cited prediction in October that commercial real estate prices in 2009 could drop some 20 percent further- - on top of an anticipated 15 percent drop this year.
December 29, 2008 - Fundamentals Worsen as CRE Industry Eyes Bailout Funds
A new report by investment fund manager Blumberg Capital Partners, found that maturing debt obligations will come under even more stress in 2009 with leasing rates poised to drop an additional 20%. Office vacancies could potentially rise to 25% by the end of the year, and take until 2011 to stabilize.
December 26, 2008 - Market Exceptions - Houston
Philip Blumberg of Blumberg Capital Partners discusses the distinction between the contradiction in advising to sell and not buy in the current economy, and where the exceptions are.
December 25, 2008 - Poll Reveals Small Business Survival Concerns
The National Federation of Independent Business Research Foundation recently conducted a poll of small business owners that revealed 75% of small employers watched the actions of the Federal Reserve Board over the last six months - and 25% of them are worried that their businesses won’t survive the recession.
“The fundamental small-business problem is the poor [...]
December 24, 2008 - Philip Blumberg on CNBC’s Closing Bell 12/23
If you look at the commercial market, much of that risk was induced by borrowers who were buying at peak pricing, who were levering up to 90%, and who don’t want to be responsible for the outcome of that kind of investment strategy in a down market. That doesn’t seem very fair to me.
December 23, 2008 - Blumberg Capital Partners Forecast Shows Any Commercial Real Estate Bailout Needs “Painful Deleveraging” to Succeed
Key fund manager predicts debt time bombs to worsen with leasing rates poised to fall an additional 20% next year to lowest levels since 2002.
- DC Area Office Portfolio Sells for $75M
Creaney & Smith has purchased an eight-building portfolio, primarily located in the DC Metro Area, for $75 million from Asset Capital Corp. according to a Washington Business Journal article. Asset Capital Corp. was represented by Jones Lang LaSalle, which said the sale - perhaps the largest investment sales transaction in the Washington area in [...]
December 19, 2008 - Now Is Not The Time To Buy
Philip Blumberg of Blumberg Capital Partners suggests that people probably shouldn’t buy real estate now with a few exceptions.
December 18, 2008 - Sallie Mae Buys NFN Offices in Delaware for $20.75M, New Jobs Coming
Sallie Mae, the student-loan giant, has claimed a new location for its Delware operations center, a move that will create 1,1000 jobs in the Newark area. The company has finalized a deal to move into Nationwide Financial Network’s former offices for $20.75 million, a deal brokered by CB Richard Ellis. Nationwide originally bought the building [...]
