Raleigh Named #8 Smartest Metro By Bizjournals

"The Raleigh area is known as the Research Triangle, a sign of its reliance on high technology and education. Duke, the University of North Carolina and North Carolina State are based locally. This is one of eight metros where at least 40 percent of adults hold at least a bachelor's degrees.
Education ladder
(Percentage of adults who stopped at each level)
Earned a graduate and/or professional degree: 13.6%
Earned a bachelor's degree: 27.9%
Earned an associate degree: 9.0%
Went to college, but didn't earn a degree: 18.2%
Graduated from high school: 20.2%
Dropped out of high school: 11.2%
Extremes
At least a bachelor's degree (top two rungs): 41.5%
Didn't go beyond high school (bottom two rungs): 31.4%"

Profiles of 10 smartest metros:

Raleigh-Durham Named Top U.S. Real Estate Market of 2008

Today's Financial News (TFN) cites our quality Universities, and medical centers and the fact that "Some of the highest-educated, most demanding and discerning individuals (and their families) in the world congregate here, requiring not only homes but offices, restaurants and retail enclaves."

What pushes this region to the number one spot, however, is its unique mix of foreclosures. Though not the nation’s highest (compared to 3.8% in Seattle or 4.9% in Detroit), foreclosures here represent a larger number of available properties at any given moment than in most areas.
Relatively low unemployment, property taxes, and the high overall quality of life in the Raleigh-Durham area, coupled with the lack of localization to the foreclosed properties, reveals these foreclosures to not be indicative of widespread economic distress, but rather of individual failures — and a regional banking system unwilling to carry the losses any longer than necessary.


The Top 5 U.S. Real Estate Markets of 2008

Highwoods is Buying in Raleigh.

In what has to be a huge signal that the market has swung in favor of buyers, Highwoods bought The Forum. After several years of being a net seller of real estate, HIWs took advantage of softening prices, tougher lending criteria and even the weak US dollar, (by bringing in a German equity partner) and purchased the 635,000SF deal.


newsobserver.com | Highwoods buys into Forum offices

Blackstone Goes Big Again

The boys at Blackstone have never been accused of going small. Now they have raised the largest real estate "opportunity fund" ever. They are seeking 20% returns with a war chest of $10.9B. Will this help BX's miserable stock performance? Hope so.


Blackstone Closes Oppty. Fund With Record $10.9 Bil. - CoStar Group

Dukies buy Another Historic Property: Durham Bank Building Deal Summary

Name: Mutual Community Savings Bank Bldg
Price: $2.4M ($60/SF)
Size: 40,000SF
Address: 315 E. Chapel Hill St., Durham
Buyer: CREH Mutual,LLC
Seller: Mutual Community Savings Bank

Note: Owners plan $1.6M ($40/SF) in renovations.
The buyers, all Duke alumni are same group that purchased the Snow Building on Main St in January. Investor group includes Carey Greene, Gavin Gray, Travis Pearson and Duane Marks.

Maverick Partners represented the buyer.