A Featured White Paper on the 2006 Real Estate Industry Outlook

Recent and notable news briefs

Highlights from REIP 2006

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Welcome to the REIP Update!

Dear Delegate,

Welcome to the August edition of the REIP Update. This monthly newsletter has been developed to provide you with an update of the latest articles and white papers published by your peers, colleagues, and advisors. Each month, you will receive a brief snapshot of current events affecting the institutional real estate investment community, as well as REIP 2007 event updates and Web site highlights.

With real estate prices still escalating, speculation is beginning to slow in the white-hot markets of Miami, Las Vegas and San Diego. While some projects have been taken off the table, there has been no indication of any sustained market downturn. Whether this is just a cooling market or the beginning of a long downward spiral remains to be seen, but many institutional investors have already started looking to diversify their real estate portfolio holdings.

Please be sure to visit www.reipusa.com for the latest real-time news updates on investing in the real estate industry.

If you'd like to subscribe to this free monthly newsletter, please send an email to fmusero@iirusa.com with the word "subscribe" in the subject line.

To submit an article or white paper for publication please send it along to Frank Musero, at fmusero@iirusa.com for consideration.

Regards,

Frank Musero
Executive Director
REIP USA
The Real Estate Industry's Premier Investment Forum

Featured White Papers/Articles
 
ANOTHER STRONG SHOWING FOR THE INDUSTRIAL MARKET

Edited by: David Kinney, Market Analyst Research Services, Marcus & Millichap

Abstract
Economic growth is expected to moderate as the year progresses, but it will remain sufficient to support a healthy industrial property market nationwide. While a slowing housing market, higher interest rates, elevated energy costs and lower than anticipated income growth are expected to restrain consumer spending growth later this year, business spending is forecast to remain strong. As a result, 2006 GDP growth is forecast to dip slightly below last year's level, though not enough to derail the industrial market's momentum through the end of the year. Demand is expected to be strongest in coastal markets that benefit the most from global trade and development constraints. High levels of speculative construction in inland distribution hubs, however, may cause temporary softening.

Click here to download the full white paper for free.

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RECENT NEWS BRIEFS
August 16, 2006 – According to a report published by Jones Lang LaSalle, real estate transparency has improved greatly around the world, with Australia and New Zealand leading the way. Hong Kong and Singapore have moved onto the highly transparent list for the first time. International competition has forced the markets to become more open and transparent. To view the report, click here: http://www.joneslanglasalle.com/en-GB/research/researchabstract?artid=2489
 
August 15, 2006 – The Mills Corp. has announced that is retrenching from the global mall marketplace by selling its stake in all non-US based malls to Ivanhoe Cambridge Inc, a unit of public pension fund Caisse de Dépôt & Placement du Québec. The move is expected to bring the Maryland-based REIT about $500 million.

July 26, 2006 -- According to the Wall Street Journal, the health of the financial services sector has fueled a building boom in many US locations. As companies look to expand, there has been extreme demand for new office and retail properties, driving rents higher. Des Moines, Iowa has been the benefactor of a majority of this growth, as Wells Fargo plans to double its number of employees in the city.

Socially Responsible Investing — Can Investing in Environmentally Friendly Real Estate and Urban Redevelopment Sites Boost Returns?