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Headlines
PAETEC's future downtown PAETEC's plan to move its headquarters to downtown Rochester is not a done deal yet. The company's founder and CEO Arunas Chesonis acknowledged that it's still a handshake deal at this point. Click here for the full article (Source: whec.com)
Nothnagle prepares to move west A few weeks ago, when beginning a $4 million renovation on an empty four-story building on the west side of downtown, the new owners, Nothnagle Realtors, discovered they got quite a bargain. Click here for the full article (Source: DemocratandChronicle.com)
95.8 LMFM Radio Podcast Interview Gerry Kelly talks to CEO of Clear Sky Capital Ciaran Hynes to find out how they can promise an 80% return on a US property investment. (Source: 95.8 LMFM Radio)
Irish investors haven't gone away There are still irish property Investors with plenty of money to spend on a good deal when it presents itself if evidence from a recent seminar tour is anything to go by... Click here for the full article (Source: Irish Times Property)
The Boston eight-step Although the fallout from the Lehman Brothers collapse and the sub-prime mortgage crisis lives on in mass foreclosures and distressed property sales, recovery is in sight for America... Click here for the full article (Source: Siobhan Maguire, The Sunday Times)
Firm sees clear skies ahead in US Property market Higher yields, in a stable region of a country already showing anticipated "green recovery shoots", are being offered by new Irish-US company ClearSkyCapital... Click here for the full article (Source: Tommy Barker, Irish Examiner)
Property News: Opportunities in the USA Irish buyers are being targeted to invest in US property again, with 'green shoots' emerging across the Atlantic and rock-bottom prices on offer... Click here for the full article (Source: Irish Independent Property Plus)
Cousins' capital idea to invest in Boston and New York state With the Irish market at a virtual standstill and Nama the only show in town, a Dubliner, a Bostonian and an Irish-American in Rochester, New York, aim to direct Irish investment money into residential and commercial real estate in the US, where the economic gloom seems to be lifting... Click here for the full article (Source: Kate McMorrow, Irish Times Property)
80% guaranteed return offered by Clear Sky
Capital Clear Sky Capital, an Irish/US property investment company has
launched a new and exciting offering for investors and those with
self administered pension schemes. Clear Sky Capital has current property investments under management in excess of $40 Million, which includes investments made by the company directors themselves and by Irish investors. Properties are sourced with quality tenants, yields in excess of 8% and total annual returns of up to 20%. The company also partners with clients from purchase right through to sale and also offers a full property management service. (Clear Sky Capital - Press Release)
Boston, Philly, San Fran ranked as top life science clusters Boston, Greater Philadelphia and Greater San Francisco are the three most successful regions at sustaining and building value in the life sciences area, according to a newly released study by the Milken Institute. These cities' healthy life science sectors are to a large extent buoying the markets in the midst of the current economic turmoil.... Click here for the full article (Source: Eugene Gilligan, Senior Editor, CPN Online)
Could be the right time to invest in America To the outside observer, the timing might seem a little odd, but professional investors are considering the US market as a buying opportunity. Toward this end, Dublin based ClearSkyCapital is offering investors the chance to get involved in the US property market... Click here for the full article (Source: Diarmaid Condon, Irish Examiner)
Dublin firm hopes to maximise US yields ClearSkyCapital, a property investment company specialising in the US property market, was launched last week offering net yields in excess... Click here for the full article (Source: Michelle Devane, Sunday Business Post)
Sky's the limit for new US property investment company ClearSkyCapital is the first property investment company of its kind in Ireland offering the opportunity to invest privately in the US property market. This unique Irish/American company will partner with clients from purchase right through to sale and also offers a full property management service. Investment properties are from $250,000 in value upwards or as part of private syndicates with units available in lots of $50,000 or $100,000. It is offering real estate in the retail, commercial or residential sectors. ClearSkyCapital has current property investments under management in excess of $40 Million, which includes investments made by the company directors themselves and by Irish investors. Properties are sourced with quality tenants, yields in excess of 7% and total annual returns in excess of 10%. Speaking at the launch, Ciaran Hynes, Managing Director, ClearSkyCapital, said: "Now is the perfect time to invest in US property. We are offering properties in Rochester which is one of the most stable property markets in the US and Boston has just been ranked by Grubb & Ellis Co. as one of the top 10 cities for commercial property investments." Todd Fessenden, US Director added: "Along with the CEO of the Federal Reserve stating at the beginning of the month that 'the recession will come to an end probably this year' and President Obama reassuring the US public in his second press conference last week that 'the recession would give way to economic recovery, but that a return to prosperity would take patience and careful planning'. We certainly are confident that now is the best time to invest in the US property market when there is tremendous value there." ClearSkyCapital works with excellent banking, legal and accounting partners in the US ensuring clients interests are safeguarded giving them control of their money and property at all times. They also have a property software package which allows 24 hour, 7 days a week access to property information online. This includes tenant information, financials, legal documentation and maintenance reports. This ensures that the investor is constantly up-to-date on their investment.
The benefits of investing in US property…..now! There has never been a better time to invest in US property. It is our belief that property prices have reached a level where there is tremendous value to be achieved. With net yields in excess of 7% and total annual returns of 12% available in both Boston and Rochester, two solid areas, positive cash flow can be achieved. Financing is also available either through certain banks or through sellers who are willing to either replace or supplement bank finance on an interest only basis in many cases. This means less cash deposit, capital deployment & greater potential upside. So if you are looking for portfolio diversification, regular cash flow, medium term gains or merely a hedge against inflation there are many opportunities available in the current US marketplace.
Obama injects confidence into US property market The signing of President Barack Obama’s plan to pull the United States out of the current economic crisis puts into action the most expensive fiscal firepower since President Franklin Roosevelt’s New Deal. While most economists would agree the stimulus package is a provocative step, it is necessary to soften the negative impact of the downturn and accelerate recovery. It is certainly preferred to the inaction that preceded it. In tracking the success of Obama’s historic stimulus package, which represents 5.5 percent of the nation’s 2008 nominal gross domestic product, we expect it to have a sizable impact on the economy, begin to move the GDP needle in the right direction and ultimately increase demand for industrial real estate. The Congressional Budget Office analysis, in a letter dated Feb. 11, 2009, wrote that the package will increase GDP growth in 2009 by 1.4 percent to 3.8 percent and add 2 million to 4 million jobs by 2010. Historically, each new job spurs 100 square feet of net absorption of industrial real estate at the national level. As such, even 2 million new jobs would generate 200 million square feet of net absorption. While the stimulus plan’s job creation results remain to be determined, we are certain that net employment increases would lead to positive net absorption. The final plan is divided into 36 percent for tax cuts and 64 percent for spending on a variety of programs. The tax cuts are expected to be used two ways: de-leveraging of consumer balance sheets through savings and debt service, and increased expenditures by households and businesses, stimulating demand that would lead to an increase in space needs. The spending side of the bill largely increases investment in infrastructure improvements, which will create jobs. It is also expected to boost the flow of goods, as a strengthened infrastructure makes the United States’ trade-critical markets more competitive and attractive to global players. The imminent question is whether the plan in its entirety will justify its final cost. It will, however, have a sizable impact on the overall economy by creating jobs, increasing consumer spending, fueling global trade and ultimately increasing demand for industrial real estate. (Source: David Twist, Director of Research for AMB Property Corp. in CPN Online)
US Property firms move to Raise Funds for Bargain Buys With an eye toward an investment market with drastically reduced pricing, CB Richard Ellis Realty Trust has joined the ranks of firms looking to buy. To that end, the REIT has announced its second public offering, with the goal of raising up to $3 billion to invest in commercial property in the United States and abroad. The offering will consist 90 percent of shared priced at $10.00, and 10 percent priced at equal to or higher than $9.50 per share. The common shares will be offered through CNL Securities Corp. until Jan. 20, 2011, unless extended. The REIT said it intends to use the funds raised from the offering to acquire office, retail, industrial and multi-family assets in major American markets, as well as up to 30 percent in international properties. The firm is far from alone in looking to take advantage of an investment market that has seen prices plummet in the struggling economy. Just last week, Spectrum Properties established a subsidiary that aims to acquire between $200 million and $500 million worth of apartment communities and student housing properties. And a report released last week by services firm Jones Lang LaSalle said that, for firms with enough cash on hand to make acquisitions despite the credit freeze, the reduced prices and lesser competition for investments could lead to historically attractive bargains for high quality properties. While the time frame is anything but definite, $300 billion worth of loans are due to mature each year through 2012; and with refinancing options greatly reduced, there will likely be no shortage of distressed sellers willing to accept lower prices for properties. CB Richard Ellis Realty Trust is a REIT sponsored by CB Richard Ellis Investors L.L.C. Formed in 2004, the REIT made its first public share offering in November 2006, when it offered $2 billion in common shares. (Source: Adam Perrotta, News Writer, CPN Online)
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Locations |
Ireland | Boston, MA | Rochester, NY |
| Tel. + 353 1 514 3780 | Tel. +1.978.921.1066 | Tel. +1.585.454.3301 | |
| Fax. + 353 1 514 3781 | Fax. +1.978.921.1146 | Fax. +1.585.454.3304 | |
| Email. ireland@clearskycapital.com | Email. usa1@clearskycapital.com | Email. usa2@clearskycapital.com | |
Clear Sky Capital LLC, A Massachusetts Limited Liability Company |
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