Cousins Properties, Inc., an Atlanta, Ga.-based real estate company, acquired Post Oak Central, a Class A office complex in the Galleria submarket of Houston, Texas, for $232.6 million from institutional investors advised by J.P. Morgan Asset Management. The company also formed a joint venture with institutional investors advised by J.P. Morgan Asset Management to purchase both Terminus 100 and Terminus 200, neighboring Class AA office towers in Atlanta’s Buckhead submarket, and acquired the remaining 80 percent interest in Terminus 200 from a fund managed by Morgan Stanley Real Estate Investing.
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Is this a good move or a terrible move? Obviously SunTrust needed assistance this year with their bottom line, especially to please stockholders. The recession had a pretty serious effect on SunTrust, but overall their financial stability was sound because of internal regulations in place that nixed predatory lending. This was their saving grace. Even though there are parts of their business that got hit hard, especially a number of bad loans lent, they essentially came out on top in Atlanta. This has not helped with their lackluster numbers throughout 2012. This is why they have decided to sell their stake, originally valued at $100,000 at the initial investment, they sold their stake for over $2 Billion cash. That is some serious money and will definitely help thew bottom line, but was it the correct decision? Coke continues to grow and expend every single day, and I only see the company becoming larger and more profitable. Let me know what you think about this business deal.
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In most types of business, negotiating is an essential part of being successful. In real estate, it can dictate the entire direction of a deal, especially when there is thousands of dollars at stake. Any savvy real estate investor will tell you that being able to negotiate efficiently and effectively makes all the difference. Here are just a few points to help you negotiate the treacherous investment deals readily available in today’s market.
1) Play nice, remembering that you are trying to make a deal. You can’t demand your way through negotiations.
2) Don’t bully, but also don’t be bullied. Remember that you have something they want and vice versa.
3) Don’t tell the seller his home is ugly. This unfortunately happens all the time.
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Apparently the real estate recovery has finally come to fruition according to many professionals in the industry. Strong listing and sales numbers confirm this, along with the increase demand for investment property, especially multifamily and commercial rental space. Some prices are hitting 2007 levels in some ares which is a strong indicator of economic rebound. According to Bill Mack, AREA Property founder and chairman, “I think the recovery has started, we bounced off the bottom. But the recovery has been tepid, it’s been spotty and it’s been uneven.”
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I checked out a great listing today that was held open. Beautiful new construction in the heart of Buckhead. 4 bedrooms and 4.5 baths. Large open concept living room and professional kitchen. Plenty or storage upstairs and down. Exclusively listed by Frank Nelson of Dorsey Alston. $749,900
Willow Tufano is a 14 year old who lives in Florida. One thing that differentiates her from her friends is that she just bought her first house, a rental property. She bought it with her mother, but anted up her fair share with money she saved for over a year by selling free items she had previously found and fixed up.
The area was hard hit by the housing crisis and Willow and her mother were able to buy the home which was once valued at $100,000 for just $12,000. Why would a 14 year old even consider buying a property?
She is using her half of the rent they charge ($700) to pay back her mom for the second half of the house and the renovations they put into the house. Willow says she’ll have it all paid off in six years. Then she’ll keep the house as a source of income.
“It was definitely a lot of inspiration from my mom and my grandma,” Tufano said. Her mom is a successful real estate agent who owns several investment properties.