Greenfire is On Fire

Durham is becoming a haven for former professional athletes turned real estate investors.
Anthony Dilweg who played football for Duke and the Green Bay Packers has been investing in and around Durham for a decade. Christian Laettner and Brian Davis, run a redevelopment firm called Blue Devil Ventures. And now Dewayne Washington a former Wolfpacker and longtime Pittsburg Steeler is with Greenfire Development.

Greenfire is off an running in Durham with ownership in 24 properties. They plan to invest $150M in Durham over the next 7 years. Last Friday they bought the SouthBank Headquarters at 400 W. Main Street.

Deal Highlights:
Price-$3.3M ($55/SF)
Building Size-60,000 SF
Tenant: SouthBank
Use: Office and Retail Operations

Source: N&0: newsobserver.com | Greenfire On Fire In Durham

Tightening Liquidity Works its Way To Raleigh

The Triangle has enjoyed steady and stable growth over the past several years. Raleigh has been blissfully immune to wild swings in housing and jobs. With a nice base of government/university employers and a diverse pool of technology employers unemployment remains low and housing values strong. Our commercial real estate market benefited from this stability compared to the rest of the world. Buyers could purchase assets with cash flow and risk profiles in our market for less than in other larger "24 hour cities". Historically low costs of capital also fueled this fire. Now the larger macro level markets seem poised for some repricing. Will Raleigh weather this storm with the same strength and grace she exhibited during the boom?

N&O: Deals Get Harder to Finance What Raleigh Developers are Saying


Captain's Blog from Andy Serwer, Fortune Managing Editor What Wall Streets Big Shots are saying.