Global (Real Estate) Capital Markets. Global (Real Estate) Capital Markets Residential Prices.

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Presentation transcript:

Global (Real Estate) Capital Markets

Global (Real Estate) Capital Markets Residential Prices

Global (Real Estate) Capital Markets Income Property Cap Rates

Composition of Buyers office, industrial, retail and multifamily properties $5 mil.+ 32% 30% 34% 22% 7% 12%3% 6% 5% 3% 7% 9% 14% 40% 17% 13% 11% 10% 8% 7% 11% 17% 19% 22% 13% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% mos inst'l foreign reit/public user/other fund syndicator condo converter private Equity Capital Source: Real Capital Analytics

Source: Real Estate Alert The Universe of Private Equity Funds Equity Source: Real Capital Analytics

Sources of Equity Capital % of Acquisitions Finance by CMBS 13% 25% 54% 72% 56% 22% 32% 39% inst'l foreign reit/public fund syndicator pvt out of state pvt in state total inst'l, 13% foreign, 11% reit/public, 10% fund, 40% syndicator, 2% pvt in state, 12% pvt out of state, 10% Equity Capital Source: Real Capital Analytics

Foreign Foreign Acquisitions of US Property (trailing 12 months, office, industrial, apartment, retail properties) Source: Real Capital Analytics

Global (Real Estate) Capital Markets Mortgage Debt Outstanding

Global (Real Estate) Capital Markets Change in Mortgage Debt Outstanding

Global (Real Estate) Capital Markets Where Did the Money Come From?

Global (Real Estate) Capital Markets Where did the money come from?

Global (Real Estate) Capital Markets The Fed

Global (Real Estate) Capital Markets Where Did the Real Estate Capital Come From?

Global (Real Estate) Capital Markets Where did the Real Estate Capital Come From?

Global (Real Estate) Capital Markets The Present

Source: Commercial Real Estate Direct; Real Capital Analytics CMBS Spreads to Treasuries Jan ‘05 AprJulOctJan ‘06 AprJulOctJan ‘07 AprJulOct AAA10Yr BBB-

Global (Real Estate) Capital Markets The Future

Global (Real Estate) Capital Markets Currency Markets

Global (Real Estate) Capital Markets The Future

Global (Real Estate) Capital Markets