Blog Editor’s Note: Kilroy Realty has major holdings near LAX and Long Beach Airport.
By DEBORAH CROWE
( Los Angeles Business Journal) Kilroy Realty Corp. said Monday that its operating partnership will offer $150 million in senior debt in a private placement to institutional buyers.
The Los Angeles real estate investment trust said the exchangeable senior unsecured notes from Kilroy Realty L.P. will be due 2014. The interest and exchange rates and other terms will be determined in negotiations between the company, operating partnership and initial purchasers. Under certain circumstances, the notes may be exchanged for cash up to the principal amount … Continue Reading
(Bloomberg) Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the beginning of a “huge crash in commercial real estate.”
“All of the components of real estate value are going in the wrong direction simultaneously,” said Ross, one of nine money managers participating in a government program to remove toxic assets from bank balance sheets. “Occupancy rates are going down. Rent rates are going down and the capitalization rate — the return that investors are demanding to buy a property – are going up.”
U.S. commercial property sales … Continue Reading