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DRE » Topics » But the second reason, even some of that is in our core markets and its good development and we know we can make a great margin on it, but the yield just doesnt meet the requirements for us to hold it on balance sheet.

This excerpt taken from the DRE 8-K filed Dec 14, 2006.

But the second reason, even some of that is in our core markets and it’s good development and we know we can make a great margin on it, but the yield just doesn’t meet the requirements for us to hold it on balance sheet.

 

But just as a general sense, I think Kevin’s probably right in Phoenix, that as we move through here the yields down there, particularly on the industrial side, it’s very competitive and those we may look at doing something with. We feel very good about our opportunities in Houston, on both the office and industrial side to get yields that are acceptable to us to hold on balance sheet in the 9 to 10% return range, in Baltimore, at this point in time, looking at our initial underwriting. We also thought we’d be between a 9 and a 10% return on that Baltimore product, so it would be our intention if we get the yields on those projects to hold them on balance sheet.

 

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