Kameron Kildea Blog

Distressed Commercial Real Estate

Ron Opfer, Andrew J. Segal and Others talk about the market
Posted by John McClelland on March 03, 2011 in No Category
Costar has published a fascinating discussion of distressed real estate trends and distressed debt. Ron Opfer discusses Las Vegas below in this direct quote from the Costar Article. The Craig Promenade deal is typical of what Las Vegas insiders are seeing these days. "There have been three 90,000-square-foot plus retail centers, (one was retail/office), close in the last 90 days. None of them are grocery anchored, and, most of them have been plagued with leasing trouble," said Ron Opfer, director o... read more
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A visit to the Cosmopolitan

This will be the newest thing for a long time...
Posted by John McClelland on January 03, 2011 in No Category
Cosmopolitan opened on the 15th of December and I finally made it there yesterday. The property cost $3.9 Billion and has 2,995 rooms. This is actually a significant increase in the available room supply on the strip. The word about employment that we are hearing is that the property has about 5,000 employees. That’s about 1.6 employees per room, down from the 2+ figures we used to hear about in the upper-end resorts. It is very likely that recent economic strains have caused firms to automate more tasks and ... read more
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A new price index

Hedonic Index
Posted by John McClelland on December 02, 2010 in No Category
FNC,Inc has developed and published a new home price index using a hedonic, rather than repeat sale method. Basically, the hedonic approach uses price as the dependent variable and the characteristics of the homes sold as regressors (ie, home size, age, location, etc.). Essentially this is taking a partial derivative of price with respect to each variable, or characteristic of homes. By employing this method, FNC,Inc hopes to overcome some of the problems associated with repeat sales. One being a sample selectio... read more
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A new entry into the Las Vegas Area

U.S Micro make Las Vegas it's western HQ
Posted by John McClelland on November 04, 2010 in No Category
Movement is occuring in the Las Vegas commercial sector. We are seeing a lot of investor interest in Las Vegas and finally some office absorption. New construction to meet specific end-user needs is seeing some activity too. CoStar reports that U.S Micro, an IT and data security company, is planning to break ground on a new project next month. U.S Micro is expected to bring 100 jobs. That is not huge job growth in a metro this size but every little bit helps. Further, we like to see companies like this make long-te... read more
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