Collier Lender

NEW YORK – The Moody’s/REAL National All Property Type Aggregate Index from Real Estate Analytics LLC, (REAL), measures 117.56 for July 2009, a decrease of 5.1% from the previous month.

The index, which has captured price data through the end of July 2009, is now 30.8% lower than it was a year ago and 38.7% below the peak measured in October 2007. The index also indicated a 37.5% drop in prices over the past two years.

MIAMI – If commercial real estate is going to recover to any degree in the near future, it’s going to take a cautious willingness on the part of lenders to take risks, according to the president of a Miami-based commercial mortgage firm.

Jose Guillen of Absolut Financial Resources added that while some lending is taking place, it’s being done on a very conservative basis that will likely be the standard for some time to come.

Florida Real Estate Journal recently spoke with Guillen for his perspective on the state of commercial real estate finance.

ORLANDO – Eola Capital, an Orlando-based real estate investment company, announced that it has acquired the general partnership interests in a portfolio of properties totaling approximately 7.6 msf of commercial office space valued at $1.1 billion from America’s Capital Partners.

Through this acquisition, Eola Capital will almost double in size to 16.1 msf of office space and add another $400 million of invested capital under management.

FORT MYERS – The Hometown Democracy amendment is headed to the voters on Florida’s 2010 ballot, posing serious concerns for a wide range of local government, economic development, business and real estate interests. The issue will be addressed by the Real Estate Investment Society at its Oct. 13 luncheon meeting, featuring guest speaker Carole Green.

ORLANDO – The median price of all homes sold during the month of August 2009 dropped to $128,000, a trend that Les Simmonds, L.G. Simmonds Real Estate Corp., president of the Orlando Regional Realtor Association, expects to continue as the tremendous backlog of bank-owned and distressed home sales work their way though the transaction process.

NAPLES – Kennedy-Wilson Inc., a vertically-integrated real estate investment and services company headquartered in Beverly Hills, Calif., and Prospect Acquisition Corp., a special purpose acquisition company with approximately $248 million of cash, recently announced that they have signed a definitive agreement under which they plan to combine.

The proceeds of the transaction will enable Kennedy Wilson to seek to capitalize on distressed real estate acquisition opportunities and to fund the growth of its auction and property management businesses.

TALLAHASSEE – The Florida State University Real Estate Network will host its’ 15th Annual Real Estate Trends & Networking Conference on Oct. 29-30 at Florida State University.

The conference is organized to inform participants of the emerging trends and issues facing the real estate industry. It focuses on factors affecting markets in the Southeast region of the U.S.