| FASB 13 is still the specter for public companies that couldfundamentally change the way corporate America leases space. And as expected, there's a lot of concern over the accounting rules changes, says Mike Beck with Reznick Group. Mike, on the left, along with Chuck Beaudrot, a senior partner at Morris Manning Martin, and Rickey Novak, the Prez of Strategic 1031 Exchange Advisors, were onhand for Tuesday's REGA event at the Buckhead Club to chat about tax and legal strategies for real estate. FASB 13 is the highly controversial GAP rule change that makes public companies treat real estate leases as liabilities. ?People are up in arms because it's going to put all these leases on the balance sheet,? Mike says. | |
| Chuck discussed his views on the world of CRE prior to the event. He tells us that capital markets are in a ?state of complete reconfiguration,? with both CMBS and even mezz financing coming back. And he says ?cap rates are nuts,? especially in gateway markets like NY and DC: ?The problem is that there's an awful lot of money chasing deals.? | |
| We also ran into First American Title Insurance's Jeanette Litzinger, Choate Construction's Bill Bland, and Karen Lundgren-Starneswith Bi Coastal Real Estate during the REGA mix and mingle portion. Karen, whose company brokers hotel sales, says the hospitality investment market is hot right now, with caps in the 6% range andlimited service hotels being especially attractive for buyers. |
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