The other crisis of office building real estate

来源: 作者:Stand originally 时间:2008-12-24 Tag: 点击:

A lot of analysts think the price relatively dropped last year about 15% to 25% . Have share of another 300 billion dollar to invest but indebted rate is the estate of 50% to invest fiducial fund only however (REIT) had considered the price to drop considerably this one element. The price relatively the perch last year dropped 25% . Does so the deficit of fund of provide for the aged reach 100 billion dollar?

The debt of opportunity fund has not been paid off. The problem of fund of large illicit collect depends on too the evaluation that depends on fund manager too, and well-known, fund manager can consider his benefit only.

On the problem that invites us to return Lei Man. This company essayist says, this company administrator is adopting too lenient attitude to its asset. This lets them be immersed in namely nowadays so condition and we perhaps can be liquidated from its (no matter be partial liquidation or integral liquidation) in the reason place of benefit.

2007, lei Man increased through buying the commercial real estate of 12.5 billion dollar to make its hold landed one times much. But this company rejects to reduce investment to spend considerably, although be below the circumstance of high indebted rate,also can undertake with top price real estate is bought. This appears and unwise.

Lei Man reached in May 2007 more bad trade, should cast agree with the price with 22.2 billion dollar all right (the only capital fund that includes 2.2 billion dollar is adscititious debt) buy Denver apartment to develop business, estate to invest trust company ArchstoneCommunities.

Lei Man agrees to trade with before tower above Archstone one the excessive price of 18% has the closing quotation price of day buy, this one price is close to the tower above of fair market price when finishing than trading October about 30% . Although Lei Man has common investor, the indebted level that buys this also was achieved 75% . Accordingly, do not mean the estimation that press city to calculate then, is should trading complete failure for the home to buying? Dan Leiman did not pay penalty due to breach of contract and abandon should trading, insisted to finish however trade.

Apartment estate investment is fiducial encountered since October last year oneself more substantially drop. However the share that Lei Man holds some 2.2 billion dollar spring dropped only this year 25% .

Lei Man did not explain why this company was not decreased completely write down its to be in the share of Archstone. Whether has it been be not open market work off asset of a few Archstone? Whether can these price prove the high price of the Archstone share of this company hold is worth? It whether already from is those who buy Archstone receive to want to make an appointment with over there other and private buyer? The thing that the administrator of travel knows what to wall street other company place doesn't know again should throw?

In wall street current environment falls, this kind of mystery really not quite welcome. Now, lei Man can open this mysterious veil likely. Although painful, but rate is very rapid however.

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