According to the National Multi Housing Council’s Information Technology Investment Banking Survey, respondents reported that they shell out just 0.7 percent of their gross revenue on IT, excluding telecommunications services at the property level. Of that 0.7 percent, however, almost 20 percent is allotted to consultants. Respondents appear to be similarly interested in discretionary projects [...]

Employment forms a key driver for the apartment sector, as job growth leads to household formation. News on that front, however, continues to be bad, as the United States has experienced nine straight months of job declines. And according to the U.S. Labor Department, unemployment reached 6.5 percent in October, the highest in 14 years.In [...]

The apartment market has softened modestly, but fundamentals remain generally healthy owing to restrained rental construction in recent years, rising residential foreclosure activity and strict home mortgage underwriting. While the return of failed conversion projects to apartment inventory, along with for-rent condominiums and houses, will remain a source of competition for multi-family owners, particularly in [...]

Industrial sales volume in October came in at just $436 million, a massive 71 percent decline from the $1.5 billion worth of sales secured in September and more than 85 percent off from October 2007, according to Real Capital Analytics Inc.’s November Capital Trends Monthly report on the industrial sector. For the year, however, the [...]

As an overhaul of Detroit’s Big Three automakers appears all but certain, major changes may also be in store for the nation’s industrial market. “This is going to impact real estate all over the country,” predicted Michael McKiernan, Cushman & Wakefield Inc. executive managing director of industrial operations for the Americas. Instead of the $25 [...]

The national industrial market experienced a third consecutive weak quarter from July through September. Availability increased 40 basis points to 10.7 percent, and negative absorption totaled 8.2 million square feet with 44.6 million square feet of new supply added. Despite weakening fundamentals, the downturn has not yet reached the depths of previous recessions. Absorption in [...]

The third quarter was a rough road for the office market. Negative net absorption—19 million square feet returned to the market—along with 11.5 million square feet in completions, shot the sector’s vacancy rate from 13.1 percent in the second quarter to 13.7 percent in the third quarter, according to Reis Inc. The vacancy rate, presented [...]

Even with the $700 billion relief program and the very low 1 percent federal funds rate—down by 425 basis points in a little over a year—a quick recovery is not likely. The instability in the credit markets could last through most of 2009 for two reasons: Home prices show no signs of hitting bottom, and [...]

Hotel sales volume in the third quarter came in at just $1.9 billion, a hefty year-over-year slide of 80 percent and the property type’s lowest level of quarterly sales since the first quarter of 2004, according to Real Capital Analytics Inc.’s November Capital Trends Quarterly report on the hotel industry. While hotel sales were forecast [...]

Though RevPAR continues to decline, some in the hotel sector are undaunted and making plans to grow. Hotel developer and operator LodgeWorks L.P. is launching AVIA, an upscale boutique hotel brand, planning to debut the first property in early 2009 in Savannah, Ga. Three more are slated for California’s Napa Valley and Long Beach and [...]