REIT Report
Blackstone wins!!!! After a very competitive bidding war for Equity Office Properties, Blackstone, the favored suiter, has finally won the deal. Vornado backed out of the deal after Blackstone offered $39 billion for EOP. Blackstone is now selling off 6.5 billion of its Seattle real estate to Beacon Capital Partners, a Boston real estate investment firm, to help finance the EOP acquisition.
It appears as though the "housing bust" was actually more like a market correction. Housing is taking a soft landing as existing homes are becoming more attractive due to a decrease in new construction. New housing starts increased in January and February, although this may be due to unseasonably low weather.
BXP: 123.50 down 3.54, 2.79%
TOL: 31.89 down .45, 1.39%
KBH: 51.94 down .03, .06%
VNO: 131.39 down 1.95 1.46%
Yahoo REIT Office index 1381.8 down 1.41%
It appears as though the "housing bust" was actually more like a market correction. Housing is taking a soft landing as existing homes are becoming more attractive due to a decrease in new construction. New housing starts increased in January and February, although this may be due to unseasonably low weather.
BXP: 123.50 down 3.54, 2.79%
TOL: 31.89 down .45, 1.39%
KBH: 51.94 down .03, .06%
VNO: 131.39 down 1.95 1.46%
Yahoo REIT Office index 1381.8 down 1.41%
posted by Jesse Phillips at
11:04 PM
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