Mr Philip Blumberg

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  madamemeow.vox.com/explore/neighborhood/tags/houston/ - [Cached Version]
  Published on: 7/2/2009    Last Visited: 7/15/2009  

  Philip Blumberg
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  LightsOutHouston - CRE Buildings Go Smart Philip Blumberg
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  Blumberg Capital Partners in the News Philip Blumberg
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  Market Exceptions: Philip Blumberg of Blumberg Capital Partners discusses the distinction between the contradiction in advising to sell and not buy in the current economy, and where the exceptions are.  For more real estate news and information, visit Blumberg Capital Partners.
  
  Market Exceptions - Houston Post a comment Tags: houston, assets, real estate, jobs, texas, oil, economy, market … Philip Blumberg
  
  Grubb & Ellis acquires Houston's Oak Park Office Center III Philip Blumberg
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  Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  Chief investment strategist Philip Blumberg, Chairman and CEO of Blumberg Capital Partners, said the cash raised from the dispositions will allow his Funds to explore investment opportunities in office building investment, media and entertainment, distressed debt, and European REITs. "The sale of our Tampa office building encapsulates a strategy we've undertaken since 2006, in anticipation of a weakening economy," said Blumberg.
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  Philip Blumberg Updated: Yesterday

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  www.american-ventures.com/news/articles/articles-2000.h - [Cached Version]
  Published on: 11/24/2000    Last Visited: 8/31/2007  

  American Ventures' recent $50 million purchase of the Three Riverway "not only tops Houston's most recent sales, but ranks as one of the biggest sales of 2000…" Philip Blumberg, CEO of American Ventures, indicated that "market research led the company to eye Houston as a strong and diversified market."
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  Blumberg Addresses Greater Miami Chamber of Commerce (2000)
  
  Speech venue: Greater Miami Chamber of CommerceJune 02, 2000
  
  "Today I stand not in front of 50 leaders, but 1000 leaders and doers in the community."CEO of American Ventures, Philip Blumberg, addresses the Greater Miami Chamber of Commerce for the first time as Chairman.Mr. Blumberg speaks of setting challenging goals for the business community, the importance of business infrastructure and skilled labor, technology, and economic opportunity.Full story (PDF,28KB).

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  biz.yahoo.com/bw/081016/20081016005310.html?.v=1 - [Cached Version]
  Published on: 10/16/2008    Last Visited: 10/16/2008  

  "A number of commercial property investors who bought since 2005 are now finding that they overpaid and are overleveraged, with few avenues to refinance," said Philip Blumberg, Chairman and CEO, as well as the firm's chief investment strategist. "Unfortunately, too many of those buyers had unrealistic expectations: the economy would continue growing unabated, capital flows would remain at unrealistic levels, pricing of commercial office buildings would continue growing, new buyers would continue emerging and credit would always be plentiful."
  
  In anticipation of the price declines, Blumberg said, the majority of the firm's real-estate Funds have now been liquidated and investment partners bought out so that the firm carried no debt as of Oct. 1. To position itself for next year's potential bargains, Blumberg said, the firm is now planning a new wave of investments and capital raising efforts.
  
  Blumberg Capital Partners is now exploring investment opportunities in commercial real estate, distressed debt and European REITs, among other areas following its two-year disposition program.
  
  "A byproduct of the price and economic downturns will be unprecedented buying opportunity, but we probably won't see a bottom in the commercial real estate sector before mid-2009 or 2010," said Blumberg. "We've yet to see all of the outstanding commercial property debt hit the market. So, come 2009, the bailout package is ultimately going to have to be larger to adequately cover commercial property loans, or we're going to face an even more severe economic slump, hurting occupancy rates and accelerating the impact on the sector."
  
  Blumberg founded his firm in 1979, generating investor returns exceeding an average of 15% annually from 1992-2008, for both individual and institutional investors, including overseas investment partners. In spite of the firm's strong returns, Blumberg's investment philosophy emphasizes stability and security in an attempt to avoid over-reaching for extra yield at the expense of safety and invested capital. His investment Funds have relied on investors and internally generated cash, utilizing moderate leverage.
  
  "The commercial real estate market is not a straight line. It's a circle. You need to attempt to gauge where prices are on the evolution of the circle and the direction. That's what investment is all about. When you lose sight of that principle, you make big mistakes," said Blumberg.
  
  The Funds' research department is currently looking at undervalued assets in markets that it considers to have potential to come back early. "For right now, that's registering a ‘no buy' decision on our part," said Blumberg. "Not because there aren't good buys out there available - but because if the market continues to go down I don't want to buy at the 80% down market and have to suffer through the next 20% decrease. We want to buy when we feel more certain that the market has, in fact, bottomed out. And I don't see that happening until at least next year."
  
  Blumberg Capital Partners' real estate area is vertically integrated executing acquisitions and dispositions, market research, due diligence, and the management and leasing of its commercial properties, although the firm is exploring opportunities beyond real estate, including media and entertainment. Amid a tightening credit environment and declining asset prices, Blumberg began selling his commercial real estate assets in 2006, eventually closing the sale of the firm's last office building holding in the spring. The 2006 sale of Blumberg's Miami office tower set a Florida record at the time for price paid per square foot. The firm's properties portfolio is well known and highly regarded for its property management team and amenities, including executive suite clubs, conference rooms and fitness centers, saunas, and state of the art technology including wireless Internet access throughout common areas -- marketed and offered under the Blumberg Office Properties brand umbrella.
  
  About Blumberg Capital Partners
  
  The Blumberg Capital Partners group of companies, founded in 1979 by Philip F. Blumberg, offers a full range of real estate investment management services to national, international and regional institutions.

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  www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/w - [Cached Version]
  Published on: 10/6/2008    Last Visited: 10/6/2008  

  Chief investment strategist Philip Blumberg, Chairman and CEO of Blumberg Capital Partners, said the cash raised from the dispositions will allow his Funds to explore investment opportunities in office building investment, media and entertainment, distressed debt, and European REITs."The sale of our Tampa office building encapsulates a strategy we've undertaken since 2006, in anticipation of a weakening economy," said Blumberg."We originally bought the property for $3.3 million, and it provided great cash flow and growth.We more than achieved our expected return, even though we believe there is more upside."The Tampa sale follows closely a transaction completed earlier this year when Blumberg Capital Partners sold its 400,000 square-foot Houston office tower (Three Riverway).The Blumberg office properties portfolio is well known for its first-class management team and amenities, including conference rooms and fitness centers, executive suite clubs, saunas, and wireless Internet access throughout common areas.Such features illustrate the commitment of Blumberg Capital Partners, which invests heavily on such offerings as part of its Blumberg Office package of premium tenant services, "first and foremost it's about keeping our tenants happy," said Blumberg.In 2006, Blumberg Capital Partners, in separate transactions, sold various office towers in Miami and Coral Gables, Fla.The Miami transaction set a Florida record at the time for price paid per square foot of commercial real estate.Founded in 1979, Blumberg Capital Partners has generated solid returns for its investors, averaging in excess of 15 percent annually from 1992 - 2008.Blumberg's investment philosophy emphasizes stability and security, in an attempt to avoid over-reaching for extra yield at the expense of safety and the invested capital of its investors.His investment funds have relied on internally generated cash and investor contributions, utilizing moderate leverage only to fund commercial real estate purchases.

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  biz.yahoo.com/prnews/081006/clm098.html?.v=80 - [Cached Version]
  Published on: 10/6/2008    Last Visited: 10/7/2008  

  Chief investment strategist Philip Blumberg, Chairman and CEO of Blumberg Capital Partners, said the cash raised from the dispositions will allow his Funds to explore investment opportunities in office building investment, media and entertainment, distressed debt, and European REITs."The sale of our Tampa office building encapsulates a strategy we've undertaken since 2006, in anticipation of a weakening economy," said Blumberg."We originally bought the property for $3.3 million, and it provided great cash flow and growth.We more than achieved our expected return, even though we believe there is more upside."
  
  The Tampa sale follows closely a transaction completed earlier this year when Blumberg Capital Partners sold its 400,000 square-foot Houston office tower (Three Riverway).The Blumberg office properties portfolio is well known for its first-class management team and amenities, including conference rooms and fitness centers, executive suite clubs, saunas, and wireless Internet access throughout common areas.Such features illustrate the commitment of Blumberg Capital Partners, which invests heavily on such offerings as part of its Blumberg Office package of premium tenant services, "first and foremost it's about keeping our tenants happy," said Blumberg.
  
  In 2006, Blumberg Capital Partners, in separate transactions, sold various office towers in Miami and Coral Gables, Fla.The Miami transaction set a Florida record at the time for price paid per square foot of commercial real estate.
  
  Founded in 1979, Blumberg Capital Partners has generated solid returns for its investors, averaging in excess of 15 percent annually from 1992 - 2008.Blumberg's investment philosophy emphasizes stability and security, in an attempt to avoid over-reaching for extra yield at the expense of safety and the invested capital of its investors.His investment funds have relied on internally generated cash and investor contributions, utilizing moderate leverage only to fund commercial real estate purchases.

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  madamemeow.vox.com/explore/neighborhood/tags/philip+blu - [Cached Version]
  Published on: 6/23/2009    Last Visited: 7/15/2009  

  Philip Blumberg
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  Commercial Real Estate Report with Philip Blumberg on Reuters
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  Philip Blumberg
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  Philip Blumberg sat down with Jeanne Yurman of Reuters on June 23rd for a Commercial Real Estate report. 
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  Reuters Commercial Real Estate Report with Philip Blumberg
  
  Blumberg Capital Partners says commercial real estate "will be another real stomach blow" to commercial banks where writedowns could be more than 50-percent.
  
  Philip Blumberg, speaking at the 2009 Global Real Estate Summit in New York, says "it's no wonder why these commercial banks aren't lending. Separately, Blumberg says he expects to make some investments in the London property market where "they've taken writedowns and are closer to the bottom."
  
  For more information, visit Blumberg Capital Partners.
  
  Post a comment Tags: london, banks, economy, lending, reuters, commercial real estate, cre, philip blumberg … Philip Blumberg
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  Philip Blumberg on Reuters 6/22
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  Philip Blumberg appeared on Reuters Video today in a segment titled "Relief Still Elusive in Real Estate".
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  Blumberg Capital Partners in the News Philip Blumberg
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  Blumberg Capital Partners, a value-add debt and equity investor in Coral Gables, Fla., is launching a closed-end fund and its chairman, Phillip Blumberg, expects its limited partners to set restrictions on the use of debt financing. He also expects those co-investors to seek terms that would enable them to cash out of the fund early, even though closed-end funds typically require investors to commit for their full life cycle.
  
  To continue reading, click here.
  
  Post a comment Tags: manager, debt, pension, investor, financing, philip blumberg, blumberg capital partners, investment fund … Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  Real Estate Forum published "A Conversation With Blumberg Capital Partners' Philip Blumberg: Finding investment opportunities in a down market". An excerpt:
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  Philip Blumberg on Squawk Box Europe 6/2
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  Philip Blumberg appeared on CNBC Squawk Box Europe today on a segment titled "The Reality of Real Estate".
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  Blumberg Capital Partners in the News Philip Blumberg
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  Phillip F. Blumberg, chairman of Blumberg Capital Partners, thinks banks are really worried about the commercial real estate loans they issued during the orgasmic 2000s. That's the reason, says Blumberg, banks are remaining conservative in their lending.
  
  Credit cards may be bad but commercial real estate is worse.
  
  "It's absolutely frightening," says Blumberg, who adds that he sold most of his real estate holders before the bust. And the most dangerous time for banks will be 2010 to 2013 when $1 trillion in commercial real estate loans will mature and - like homeowners before them - owners of commercial properties will need to refinance.
  
  To read the rest of this article, click here.
  
  Post a comment Tags: business, construction, capital, banks, economy, credit cards, default, loan … Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  Blumberg Capital Partners was recently featured in a Real Estate Channel article by Alex Finkelstein titled "Blumberg and Maguire See Nothing but Gloom Ahead for Commercial Real Estate Markets".
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  Phillip F. Blumberg, chairman and CEO of 30-year-old Blumberg Capital Partners in Coral Gables, FL, and Robert F. Maguire III, chairman and CEO of 29-year-old Maguire Investments in Santa Monica, CA, agree that burgeoning debt is the killer in the commercial market and will remain that way until 2013.
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  Blumberg says he is certain the commercial real estate market will be "getting significantly worse.
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  Philip Blumberg
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  Philip Blumberg on CNBC's Squawk Box 5/14
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  Philip Blumberg
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  Philip Blumberg appeared on CNBC's Squawk Box today to discuss the current state of the commercial real estate market, property values, REITs, investment, and what to expect in the coming years.
  
  To read the full transcript of this segment, visit Blumberg Capital Partners.
  
  Philip Blumberg on CNBC's Squawk Box 5/14
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  Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  questions Philip Blumberg, chairman and CEO of Blumberg Capital Partners.  The Coral Gables, FL-based executive is indeed intrigued by the possibility of coupling federal money with one of his own funds to acquire distressed debt or issue new debt.  "When you are in business with the government, the questions are: What are the regulations and what are the costs of capital?  It's not a grant; it's going to have a cost, but none of that is clear yet."
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  Philip Blumberg on CNBC's Squawk on the Street
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  Philip Blumberg appeared on CNBC's Squawk on the Street today, along with Rick Santelli, to discuss whether commercial real estate still yet to build in terms of the crisis.
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  Philip Blumberg on CNBC's Squawk on the Street 2/26
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  Philip Blumberg
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  Philip Blumberg Updated: Yesterday

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  madamemeow.vox.com/explore/neighborhood/tags/blumberg+c - [Cached Version]
  Published on: 6/23/2009    Last Visited: 7/15/2009  

  Philip Blumberg
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  Philip Blumberg
  
  Commercial Real Estate Report with Philip Blumberg on Reuters
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  Philip Blumberg
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  Philip Blumberg sat down with Jeanne Yurman of Reuters on June 23rd for a Commercial Real Estate report. 
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  Reuters Commercial Real Estate Report with Philip Blumberg
  
  Blumberg Capital Partners says commercial real estate "will be another real stomach blow" to commercial banks where writedowns could be more than 50-percent.
  
  Philip Blumberg, speaking at the 2009 Global Real Estate Summit in New York, says "it's no wonder why these commercial banks aren't lending. Separately, Blumberg says he expects to make some investments in the London property market where "they've taken writedowns and are closer to the bottom."
  
  For more information, visit Blumberg Capital Partners.
  
  Post a comment Tags: london, banks, economy, lending, reuters, commercial real estate, cre, philip blumberg … Philip Blumberg
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  Philip Blumberg on Reuters 6/22
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  Philip Blumberg
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  Philip Blumberg appeared on Reuters Video today in a segment titled "Relief Still Elusive in Real Estate".
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  Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  Blumberg Capital Partners, a value-add debt and equity investor in Coral Gables, Fla., is launching a closed-end fund and its chairman, Phillip Blumberg, expects its limited partners to set restrictions on the use of debt financing. He also expects those co-investors to seek terms that would enable them to cash out of the fund early, even though closed-end funds typically require investors to commit for their full life cycle.
  
  To continue reading, click here.
  
  Post a comment Tags: manager, debt, pension, investor, financing, philip blumberg, blumberg capital partners, investment fund … Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  Real Estate Forum published "A Conversation With Blumberg Capital Partners' Philip Blumberg: Finding investment opportunities in a down market". An excerpt:
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  Philip Blumberg
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  Philip Blumberg on Squawk Box Europe 6/2
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  Philip Blumberg
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  Philip Blumberg appeared on CNBC Squawk Box Europe today on a segment titled "The Reality of Real Estate".
  ...
  Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  Blumberg Capital Partners was recently featured in a Real Estate Channel article by Alex Finkelstein titled "Blumberg and Maguire See Nothing but Gloom Ahead for Commercial Real Estate Markets".
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  Phillip F. Blumberg, chairman and CEO of 30-year-old Blumberg Capital Partners in Coral Gables, FL, and Robert F. Maguire III, chairman and CEO of 29-year-old Maguire Investments in Santa Monica, CA, agree that burgeoning debt is the killer in the commercial market and will remain that way until 2013.
  ...
  Blumberg says he is certain the commercial real estate market will be "getting significantly worse.
  ...
  Philip Blumberg
  ...
  Philip Blumberg on CNBC's Squawk Box 5/14
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  Philip Blumberg
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  Philip Blumberg appeared on CNBC's Squawk Box today to discuss the current state of the commercial real estate market, property values, REITs, investment, and what to expect in the coming years.
  
  To read the full transcript of this segment, visit Blumberg Capital Partners.
  
  Philip Blumberg on CNBC's Squawk Box 5/14
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  Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  questions Philip Blumberg, chairman and CEO of Blumberg Capital Partners.  The Coral Gables, FL-based executive is indeed intrigued by the possibility of coupling federal money with one of his own funds to acquire distressed debt or issue new debt.  "When you are in business with the government, the questions are: What are the regulations and what are the costs of capital?  It's not a grant; it's going to have a cost, but none of that is clear yet."
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  Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  The price of new loans under the plan may indirectly help set the price of older, riskier loans, said real estate investor Philip Blumberg, chairman and CEO of Blumberg Capital Partners.
  
  Like some other investors, Blumberg said the plan lacks details.
  
  "It is confusing because it's not clear," he said. "There's certainly not enough beef on the bones of this proposal."
  
  To read the full article, click here.
  
  Post a comment Tags: property, treasury, federal reserve bank, reit, cre, philip blumberg, blumberg capital partners, cmbs … Philip Blumberg
  
  Blumberg Capital Partners in the News Philip Blumberg
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  "Creating a refinancing stimulus is helpful to thaw the credit freeze, but these ticking debt time bombs will make it difficult for our public officials to get their arms around the problem," says Philip Blumberg, chairman and CEO of the Coral Gables, FL-based firm.
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  Philip Blumberg
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  Philip Blumberg Updated: Yesterday

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