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Silicon Valley Real Estate Trends2008

Silicon Valley Real Estate Trends2008. Silicon Valley Real Estate Trends2008. Silicon Valley Market Report & Forecast. 1988. 1994. 1998. 2000. Silicon Valley Availability. Gross Absorption. Gross Absorption. Net Absorption. Preimproved Space Added to Supply.

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Silicon Valley Real Estate Trends2008

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  1. Silicon ValleyReal Estate Trends2008

  2. Silicon Valley Real Estate Trends2008

  3. Silicon Valley Market Report & Forecast 1988 1994 1998 2000

  4. Silicon Valley Availability

  5. Gross Absorption Gross Absorption

  6. Net Absorption

  7. Preimproved Space Added to Supply

  8. Preimproved Space Added to Supply

  9. Preimproved Space Added to Supply

  10. Net Absorption

  11. Gross Absorption

  12. Net Absorption

  13. Gross Absorption

  14. Net Absorption

  15. Gross Absorption

  16. Net Absorption

  17. Gross Absorption

  18. Net Absorption

  19. Silicon Valley R&D Rents

  20. Silicon Valley Office Rents

  21. Silicon Valley Industrial Rents

  22. Silicon Valley Warehouse Rents

  23. Total Availability Measured in Years

  24. Investments - Price/SF

  25. What are the most significant underwriting changes that you see in 2008? Increase in residual exit cap rates 0.42 Less Rental growth 0.30 Debt/lower LTV 0.21 Return to fundamentals 0.16 True reflection of the cost of vacancy 0.09 Reduced loan proceeds; more equity into deals 0.07 Rising cap rates on non-core assets 0.05 High interest rates; lower lease rates 0.05 Credit of Tenants 0.02 Poor quality properties - hard to sell 0.02 Debt coverage ratios more positive 0.02 Risk factored into deals 0.02 Limited interest only 0.02 Spread between public and private pricing 0.02

  26. When do you think that property prices will stabilize? Second half of 2008 0.47 2009 - mid-2009 0.28 First half of 2008 0.07 Stabilized already 0.07 Not sure 0.07 Two years 0.05

  27. What event will move the market one way or the other in 2008? No specific event; combination of things 0.28 Recession 0.23 Feds stimulus plan 0.09 Stabilization of dollar 0.09 More product in the market 0.07 Election 0.07 Clearing of CMBS debt 0.05 Debt market 0.05 Confidence 0.02 Rent inflation 0.02 Default or recovery of Macklowe 0.02 Job growth 0.02 Immigration 0.02 Consensus on when evaluation has bottomed 0.02

  28. Silicon ValleyReal Estate Trends2008

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