Deals Deals Deals
Who acquired 2116 Chestnut in 2015 for $160M
CBRE Investment Management
Which city's 2013 default was the largest municipal bankrtuptcy filing in US history?
Detroit, MI
What is the largest REIT by market cap
Prologis (PLD)
The risk that approvals will not be granted for a project is known as
Entitlement risk
This tax loophole allows real estate investors to defer capital gains by investing in "like-kind properties"
1031 Exchange
Blackstone's acquisition of this REIT in 2007 was the then-largest LBO of all time
Equity Office Properties
Which firm defaulted in 2009 on their $5.4B acquisition of Stuyvesant Town
Tishman Speyer
What is the tallest building currently under development in the US?
270 Park Avenue (JP Morgan's new HQ)
This metric captures the percentage difference between a property's rentable square footage and usable square footage
Loss factor
This hybrid product is subordinate to senior debt and secured by common equity as collateral
Preferred equity
This NYC skyscraper broke NYC record with office rents over $300psf in 2022
One Vanderbilt
Which major mall REIT defaulted in 2009 and was acquired by Brookfield?
GGP
What is the tallest building in the US outside of NYC
Willis Tower (Chicago)
In a development pro forma, architects fall into which expense category
Soft costs
This hospitality metric indicates the average revenue per rented room in a hotel
Average Daily Rate (ADR)
This NYC developer purchased the lease to the World Trade Center in 2001, months before 9/11
Larry Silverstein
Which developer defaulted on a $7B loan with personal guarantees and subsequently lost control of the GM Building to creditors in 2008
Harry Macklowe
What is the tallest building in Philadelphia
Comcast Center (which is also the tallest building in the US outside of NY or Chicago)
This short-term financing instrument is used before an investor can secure permanent financing
Bridge loan
This financing metric is calculated by dividing a property's NOI by its outstanding loan balance
Debt yield
This July 2024 IPO was the largest ever for a REIT
Lineage Logistics (cold storge)
Austrian-based Signa Holdings recently defaulted on which iconic NYC office building
Chrysler Building
What building has the most bathrooms in the USA
The Pentagon
This much-maligned multifamily mid-rise consists of a wood frame over a concrete podium
5-over-1
This situation arises when the unlevered yield on an asset is lower than its cost of debt
Negative leverage