US Commercial Real Estate Market Slowly Recovers

The National Council of Real Estate Investment Fiduciaries Board (NCREIF) reports that the US commercial real estate (CRE) market is on a slow mend, according to indices for investments in 2012. Sales surged last year to nearly $64 billion, and experts at Co-Star Group report that such a high volume has not been seen in the CRE market since 2004. Indices show that the multifamily and office sectors in central business districts were the hottest markets last year and NCREIF analysts say the recovery has even spread to the retail sector. For more on this continue reading the following article from National Real Estate Investor.?

The indices have been released for 2012, and they show continued steady strength for commercial property investments.

?Real estate investment returns have a reputation for stability, and 2012 has reinforced that,? says Ron Kaiser, chairman of the National Council of Real Estate Investment Fiduciaries (NCREIF) Board. ?Not only have quarterly total returns again come in at the 2.5 percent level, but all property types and nearly all geographic regions report similar numbers.?

The volume of sales surged in 2012, which helped to support these strong returns. Sales volume reached nearly $64 billion in 2012, the highest annual total since 2004, according to the Co-Star Group Inc. Since the crash, the volume of commercial real estate sale has risen steadily, and activity spiked upwards in December as investors rushed to close deals before the end of the year and improving market fundamentals and attractive yields drew investors to commercial real estate.

The recovery is also broadening to the lower end of the pricing market. CoStar?s equal-weighted composite index sped up its growth in the second half of 2012 and registered 8.1 percent for the year. Meanwhile, CoStar?s value-weighted composite index, which concentrates on more valuable properties, registered just 4.3 percent growth. That?s still fast than inflation, but less than its double-digit growth throughout 2011.

According to the CoStar indices, ?Investors are moving beyond core properties and driving up pricing at the lower end of the market.?

The numbers from Moody?s/RCA Commercial Property Price Indices, which also sample a broad range of markets and properties, also showed an increase of 8.1 percent for U.S. commercial real estate prices in 2012.

The NCREIF Property Index, which favors institutional-quality properties, also marked stable, solid investment returns. That includes appreciation to the value of properties 4.51 percent in 2012, roughly matching CoStar?s ?value weighted? numbers for the year. NCREIF?s property index also includes 5.84 percent returns from income from properties, adding to a total return of 10.54 percent.

Among the various property types, some old favorites still did very well in 2012. The Moody?s/RCA CPPI showed that office and apartment properties in central business districts were the hottest sectors, with price increases of 19.1 percent and 11.2 percent, respectively, for the year. Suburban office was the only sector to see a price decline in 2012, edging down by 0.8 percent.

"The CBD office sector has been a leader in the post-crisis recovery, and both its major and non-major market components posted double-digit returns in 2012," says Moody?s Director of Commercial Real Estate Research Tad Philipp. "The performance of apartments in major markets was just warm during 2012 but the results from non-majors was enough to make it a hot sector overall."

The real estate recovery also spread to retail properties, according to NCREIF. Its index of institutional properties shows that retail properties were the best performing in the fourth quarter with a 2.97 percent total return, and for the whole year with an 11.61 percent return. That?s just ahead of the apartment sector?s 11.23 percent return. The hotel sector was the worst performer for the year with an 8.23 percent return, which really isn?t that bad.

This article was republished with permission from National Real Estate Investor.

Source: http://www.nuwireinvestor.com/articles/us-commercial-real-estate-market-slowly-recovers-60484.aspx

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Justin Timberlake performs post-Grammy show

LOS ANGELES (AP) ? Mr. "SexyBack" performed back-to-back Sunday night.

After Justin Timberlake's performance at the Grammy Awards, the pop star electrified during a 90-minute set at the Hollywood Palladium.

Timberlake sang familiar hits ? from "Senorita" to "Rock Your Body" to "My Love" ? as well as new, R&B numbers from his anticipated new album. He was easygoing onstage ? as if he never left.

Like at the Grammys, Jay-Z joined in for "Suit & Tie." Beyonce was among the VIPs watching on, along with Kelly Rowland, Neil Patrick Harris, Timbaland, Lance Bass and others.

Timberlake apologized to the eager crowd for waiting so long to release new music. His last album was out in 2006.

He said, smiling: "It's going to be a fun year."

Timberlake's new album, "The 20/20 Experience," is out March 19.

Source: http://news.yahoo.com/justin-timberlake-performs-post-grammy-show-181838319.html

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Militants kill 4 policemen in attacks in Iraq

BAGHDAD (AP) ? Assailants opened automatic fire on police checkpoints in central and northern Iraq early on Wednesday, killing four officers and wounding five, officials said.

In one attack, gunmen in two speeding cars sprayed policemen with machinegun fire in the town of Musayyib, about 60 kilometers (40 miles) south of the capital Baghdad. Two officers were killed and four were wounded there, a police official said.

In the other attack, militants on foot exchanged fire with police at a checkpoint in the city of Mosul, 360 kilometers (225 miles) northwest of Baghdad, killing two policemen and wounding one.

Two hospital officials confirmed the casualty figures. All officials spoke on condition of anonymity because they are not authorized to talk to the media.

Security forces are frequently targeted by insurgents seeking to undermine government efforts to restore security in Iraq after years of strife.

Despite a significant drop in violence since the height of insurgency several years ago, militants still launch deadly attacks almost daily.

Source: http://news.yahoo.com/militants-kill-4-policemen-attacks-iraq-121434615.html

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The Yeshiva World Some Rabbonim Prohibit Coalition Talks on ...

Rabbonim attending a motzei Shabbos kenos against drafting chareidim are less than pleased with the fact that Yahadut Hatorah is entering into coalition talks which may result in a compromise solution pertaining to the drafting of bnei Torah. Walla News quotes kenos organizers as saying that they feel it is incorrect for Yahadut Hatorah to release messages of compromise, a willingness to accept one formula for drafting bnei Torah or another. The reject the very sitting in a room and indicating a solution may be reached, rejecting the concept of drafting any chareidim into the IDF.

The daily HaPeles newspaper affiliated with the Yerushalmi faction of Degel Hatorah reported that participants in the kenos reject any discussion of any compromise, seemingly innocent as it may be. The representative of the Sephardi bnei Torah, Rav Yaakov Ben-Naim sent a message to Shas MKs, calling upon them not to participate in talks surrounding a chareidi compromise on the draft issue. ?We state that one may not sit with the other side to discuss this. It is like playing with fire? Rav Ben-Naim is quoted as saying.

HaRav Baruch Shmuel HaKohen Deutsch of Yeshivas Kol Torah attended the kenos, warning ?Needless to say no one sitting here feels they just want to draft bnei Torah. They want to secularize Klall Yisrael G-d forbid, beginning with the bnei Torah. The matter demands mesirus nefesh.?

The words of HaGaon HaRav Shmuel Auerbach Shlita who remains uncompromising on the issue were heard at the kenos too. The rav is quoted as saying ?we must do what we can without wavering and without discussions. There must not be negotiating. This is a basic tenet of Yiddishkheit and we must take it to the end.?

The participants reached a decision, that they cannot support any change in the issue of drafting bnei Torah. The kenos called on elected chareidi leaders to leave the negotiating table and protest instead, demanding a new law that will protect those involved in the continued study of Torah.

(YWN ? Israel Desk, Jerusalem)

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