NKF Reports Emerging Trends in Workplace Strategy
By · CommentsEconomic changes have influenced workspace strategies, from the remote-working trend of the mid-’90s and up to the Great Recession, to the following trend toward the densification of office space. The goal of current workplace strategy is to align a company’s work environment with the flexible needs of a multi-generational workforce, according to a new report from Newmark Knight Frank. The report was written by Tamar Moy, senior managing director of workplace strategy, Stephanie Jennings, managing director of research, and Jonathan Mazur, senior managing director of research.
Blackstone Fund Buys Stake in Property Firm Rockpoint
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Pool will hold a 20 percent passive stake in real estate firm
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Minority stake sales are increasingly common in private equity
A Blackstone Group LP fund that takes minority stakes in alternative-asset managers is buying part of real estate firm Rockpoint Group…
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Yu plans to use contacts among wealthy lawyers, doctors
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Warrants trading jumped in 2017 amid surging Hong Kong stocks
Johnny Yu, who earned the nickname “King of Warrants” during his 13 years selling the financial derivatives at UBS Group AG in Hong Kong, is moving to the bank’s wealth management unit…
UBS’s ‘Warrants King’ Has a New Role Managing Hong Kong Wealth
Ivanhoé Cambridge and Natixis Assurances, partners in the DUO towers development in Paris, have been awarded the “Climate Bond Certified” label by Climate Bonds Initiative (CBI) for the aforementioned project. The certification marks Europe’s first green-labelled commercial real estate loan, which totaled nearly $600 million (€480 million).
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Nigeria Mortgage Refinance Co. to tap debt market this year
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Company is busy preparing its first Islamic bonds issuance
After suffering through an economic contraction that restrained demand for housing loans in Africa’s most-populous country, Nigeria’s state-backed mortgage guarantor is anticipating that a return to growth will help double its nascent asset base…
Nigeria’s Own Fannie Mae Sets Out to Double Mortgage Loans
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Move is aimed at preventing financial risks, reducing overlap
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Combined CBRC, CIRC will oversee $43 trillion of assets
China is giving its central bank greater regulatory powers while merging the watchdogs responsible for banking and insurance, a key move in the nation’s campaign to curb risks in its financial sector…
China Creates Super Regulator for $43 Trillion Finance Industry
Gladstone Acquires Central AL Industrial Asset
By · CommentsGladstone Commercial Corp. has acquired a 127,444-square-foot industrial property from Graham & Co. in Vance, Ala., for $14.3 million. The initial cap rate for the structure was 6.98 percent, with an average cap rate of 7.62 percent.
Hong Kong’s Unshakable Property Faith
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Solomon is ‘well versed’ in the firm, may expand new business
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Goldman shares outperform the broader KBW bank index
Goldman Sachs Group Inc.’s choice of Chief Operating Officer David Solomon to eventually succeed Lloyd Blankfein as chief executive is winning accolades on Wall Street.
By naming Solomon sole president, the firm cleared the way for him to take the helm, a scenario that analysts say allayed the concern some investors had about there possibly being co-CEOs when Blankfein retires. They also cited Solomon’s diverse background and investment-banking expertise as benefits, and said Goldman’s transparency in laying out the succession plan will help insiders at the firm focus on doing business instead of wondering who’s going to take over as CEO…
W.W. Reynolds Lands Refi for Denver Office Portfolio
By · CommentsThe W.W. Reynolds Cos. has received a $48 million loan to refinance a three-building office portfolio in Boulder, Colo., totaling 159,778 square feet.
HFF represented the company in the refinancing by securing the 12-year, sub 4.0 percent, fixed-rate loan through MetLife Real Estate Investments…
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Housing indicators now show market is recovering after decline
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Swedish coalition aims to make housing an election issue
Sweden’s government wants to add supply to a housing market that’s just gone through its biggest price slump in a decade.
Hedge Funds That Use AI Just Had Their Worst Month Ever
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Machine-learning funds ‘played big role’ in correction: JPM
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Correlation between AI funds, CTAs has risen in past year
Chalk one up for the humans.
NKF Capital Markets Taps New President of Strategies
By · CommentsNKF Capital Markets has appointed Anthony Orso as president of Capital Markets Strategies. Orso will be responsible for supporting the integration of Berkeley Point Capital with ARA, two companies recently acquired by NKF Capital Markets.
He will work closely with Berkeley Point Capital CEO Jeff Day and Vice Chairman & Head of U.S. Multifamily Blake Okland. Orso will also work as a liaison with Cantor Fitzgerald’s CMBS business and advise the company on its strategic approach to its third-party debt business, following NKF Capital Markets’ investment in CCRE. Before joining NKF Capital Markets, he was co-founder & CEO of CCRE, which he built into a fully integrated commercial real estate debt platform, while completing more than $250 billion in real estate financing deals…
Omni Opens $300M Hotel in Kentucky
By · CommentsMore than two years after it broke ground in January 2016, the Omni Louisville Hotel, the city’s tallest hotel, has officially opened. The $300 million, 612-key property was a joint venture of Omni Hotels & Resorts and Metro Louisville.
Omni Louisville features about 70,000 square feet of flexible meeting and event space, and atop the hotel, 225 one- and two-bedroom luxury apartments are available for preleasing…
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Barratt, Crest Nicholson subject to bets market about to turn
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Rate outlook, shortcomings of government schemes among reasons
Once bitten, twice shy? Not in the case of the hedge funds that are shorting U.K. homebuilders, even after the strategy burned some of their peers in the wake of the Brexit vote.
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Ford, GE poised to enjoy a reduction in pension deficits: Lee
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Stock pain hard to escape when yields up 40bps a month: Kostin
Higher interest rates are an enemy of U.S. stocks, right? Goldman Sachs Group Inc. says yes, especially if yields rise quickly. For Tom Lee at Fundstrat Global Advisors LLC, the equity market also contains some less-obvious beneficiaries.
Arriba Secures $41M for Atlanta Dual-Branded Marriott
By · CommentsArriba Capital has arranged a $40.7 million ground-up construction loan for the development of a dual-branded MarriottFairfield Inn & Suites and Towneplace Suites in Midtown Atlanta. The non-recourse loan was leveraged to 78 percent of the total project cost, with a two-year term and three, six-month extension options.
Fairfield Inn & Suites acts as the primary brand and TownePlace Suites is Marriott’s extended-stay brand. The 194-key dual-branded lodging project will feature seven stories set atop a 220-space, five-story parking deck. The two hotels will share back-of-the-house elements including laundry, maintenance facilities and mechanical/electrical space. Guests will have access to amenities such as:
Marijuana Laws Slowly Impact Industrial CRE
By · CommentsThe industrial sector of the commercial real estate industry is going through a slow but inevitable change, and it has more than a little to do with the budding marijuana business, according to Integra Realty Resources’ new Marijuana Real Estate report.
Ant Financial Consumer Lending Reaches $95 Billion
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Ant’s outstanding consumer loans outstrip China’s No. 2 bank
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Regulatory tightening is said to slow consumer loan ABS sales
Ant Financial’s consumer lending has reached at least 600 billion yuan ($95 billion) despite the affiliate of Alibaba Group Holding Ltd. facing a tougher environment for securitizing its loans, people familiar with the matter said.
Tata Sons Ltd., India’s biggest business group, plans to sell $1.25 billion of its stake in Tata Consultancy Ltd., according to terms of the transaction.
AECOM Tapped to Build $1B Mixed-Use Asset in LA
By · CommentsRelated Cos. just took a big step toward the realization of The Grand, a mixed-use project in downtown Los Angeles. The real estate firm recently tapped fully integrated global engineering company AECOM to serve as construction manager for the $1 billion transit-oriented development.
Hamptons home sales jumped in the fourth quarter, surprising even most the optimistic brokers, as buyers moved to close deals in a stock market-fueled rush…
Hamptons Home Deals Jump, Chopping Supply of Properties for Sale
Nine West Plans a Bankruptcy Filing With Asset Sales
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Plans call for pre-arranged Chapter 11 filing by March 15
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Second-lien lenders would get biggest share of equity
Nine West Holdings Inc. and its creditors are closing in on a deal to restructure almost $1.5 billion of debt that would include filing for bankruptcy and selling off parts of the shoe and clothing retailer, according to people with knowledge of the negotiations…
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Truston exits about a decade after setting up Singapore office
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Truston Falcon Asia Fund had bet on rising, falling stocks
Truston Asset Management Co., a South Korean investment firm that managed $8.5 billion as of August, is closing its office in Singapore and a hedge fund based in the city…
Hedge Fund Closing as South Korean Firm Retreats From Singapore
Sales of previously-owned U.S. homes fell in December for the first time in four months, as the market struggles with record-low supply and rising prices, figures from the National Association of Realtors showed Wednesday…
U.S. Existing-Home Sales Fall as Supply Drops to Record Low
China’s Communist leadership has tightened the regulatory screws on some of the nation’s largest, private-sector conglomerates in the name of financial stability…
How China’s Crackdown on Conglomerates Is Hitting Their Assets
Downtown Tampa Hotel to Open in 2020
By · CommentsMore than 4 million square feet of office, residential, hospitality, retail and cultural space across 10 blocks is slated for completion by 2020. Subsequent phases are scheduled to be finished by 2027. In addition to the new hotel, when it is built out, Water Street Tampa will consist of 2.6 million square feet of office space; 1 million square feet of retail, cultural, educational and entertainment space; and 3,500 new rental and for-sale residences…
China Starts Experiment to Tame Its Wild Property Market
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Xi vows to grow rental market amid outcry on home prices
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Local governments, developers, banks flock to the business
Chinese President Xi Jinping has unleashed the world’s biggest experiment aimed at taming runaway property prices…
China’s housing market has a history that’s short by global standards, since private homeownership only began in 1998. But what a two decades it’s been. Home prices have skyrocketed, creating a mentality that real estate is a one-way bet. The government’s sporadic bouts of tightening limits on property sales, then easing them, has often exacerbated the frenzy by prompting speculators to second-guess policy changes. Now, officials are escalating efforts to steady the market, with President Xi Jinping pinning his name on reining in speculation…
What’s Next in China’s Bid to Cool Housing Market: QuickTake Q&A
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Billions of dollars seen flowing to Treasuries as stocks rally
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Pensions’ bond purchases support yield curve flattening: JPM
The bond bear market, touted by billionaire fund managers Bill Gross and Ray Dalio, is about to run into a multi billion-dollar roadblock…
Wall Street Warns of Seismic Pension Shift Into Bonds This Month
Retail Center Trades for $13M in Buford, GA
By · CommentsBond Street Advisors Group has purchased a 36,358-square-foot retail center in Buford, Ga. for $13.5 million from Mill Creek/Cooper LLC. A team of Franklin Street brokers represented both parties in the transaction.
Mill Creek Walk comprises two buildings located at 3260 and 3264 Buford Drive. The property sits across the street from the Mall of Georgia and is approximately 35 miles from downtown Atlanta, along a thoroughfare which has an estimated daily vehicle count of 31,000, according to the Georgia Department of Transportation. Access to the metro area is facilitated by nearby interstates 985 and 85…
SVF Snags $23M Miami-Area Flex Campus
By · CommentsCushman & Wakefield has negotiated the sale of a six-building flex campus in Miami-Dade County, on behalf of the seller. SVF Acquisitions LLC bought the property for $22.8 million.
Rich Uncles Buys AvAir HQ in Arizona for $27M
By · CommentsLee & Associates has arranged the sale of AvAir headquarters, a 162,714-square-foot creative office and warehouse space in Chandler, Ariz., for $26.5 million, which equates to approximately $163 per square foot. The company worked on behalf of the buyer, Rich Uncles NNN REIT Inc., whereas Tiffany & Bosco PA represented the seller, Reasons Aviation LLC. The sale agreement allows AvAir to lease the facility for 15 years.
In 2017, Marriott Became More International than Ever
By · CommentsThis past year was a record-setting one for Marriott International, which is expanding globally, especially in Europe and Asia, at a furious clip. 2017 was Marriott’s most successful year for signing development contracts outside North America.
At year’s end 2017, the company operated or franchised more than 6,500 hotels worldwide and more than 1.25 million guestrooms, a third of which are outside North America.
U.K. Home Sales Fall to 13-Month Low
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Home sales decline to 99,100 in December, least since 2016
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Stamp duty cuts only applied to marginal proportion of buyers
U.K. Chancellor of the Exchequer Philip Hammond’s efforts to help young people onto the housing ladder by cutting taxes are showing no signs of working yet…
NKF Adds New NorCal Senior Managing Director
By · CommentsRobby Perrino is NKF’s new senior managing director and market leader for the firm’s Valuation & Advisory Group practice in Northern California. In his new role, Perrino will be responsible for growing the company’s current client relationships, driving new business development and recruiting top valuation and consulting professionals. He will be leading an expanding team currently consisting of nine professionals in four Northern California offices including San Francisco, San Mateo, Santa Clara and Sacramento.
California Dreaming About California Housing
By · CommentsCalifornia is trying to come to grips with its housing crisis. It’s unclear if Californians will allow it to succeed.
AVANA Capital Closes $60M Construction Financing
By · CommentsMogul Capital has received a $60 million construction loan for the development of a dual-branded Marriott Courtyard and TownePlace Suites hotel in Hawthorne, Calif. AVANA Capital closed the financing transaction, which includes a $50 million conventional loan and a $10 million mezzanine loan with above market leverage.
Located in downtown Hawthorne, the 354-key hotel will feature a restaurant, swimming pool and a meeting room for business purposes. The property is situated near many aerospace-related businesses, such as SpaceX, Northrop Grumman, Tesla’s design headquarters, Boeing, Aerospace Corp., Raytheon, LA Airforce Base and Mattel. Additionally, Los Angeles International Airport is within five miles of the property…
Job Diversity Sustains Denver’s Economy
By · CommentsGrayscale Plans Five New Crypto Funds
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Four will track single currencies, one a digital basket
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Original Bitcoin Investment Trust up 1,300% in the past year
Grayscale Investments, which made it easier for mainstream investors to bet on Bitcoin, plans to offer four new single-currency crypto funds and another based on a basket of digital currencies by the start of April.
St. John Properties Assigns New CFO
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Top 3 land developers set to report earnings in February
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More than 10 analysts surveyed expect a price recovery in 2018
The worst may be over for Singapore’s property slump…
Singapore Home Prices Seen Rebounding After Four-Year Slump Ends
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Investment firms are creditors in struggling solar makers
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‘We’re not in this looking to make a killing,’ says CEO
The biggest winners of President Donald Trump’s decision to slap tariffs on imported solar equipment may not be American manufacturers but a group of investment houses around the globe…
Wall Street, Not American Solar, Stands to Gain From Trump Tariffs
M&M Skyler Cooper Moves to Denver
By · CommentsVice President Skyler Cooper of Marcus & Millichap’s Houston office has transferred to the company’s Denver office. He specializes in investment sales, primarily focusing on the acquisition and dispositions of hotel assets.
Prior to joining Marcus & Millichap’s team, Cooper served as an associate at Marriott International for more than six years before he was promoted as regional sales manager in Bethesda, Md., where he managed sales operations for more than 12 service hotels including the JW Marriott Washington, D.C., the Washington Marriott Wardman Park and The Mayflower Renaissance Hotel…
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CEO says customers want more services ‘under one brand’
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Closely held firm climbs ranks of U.S. mortgage lenders
LoanDepot Inc., a mortgage lender basing its growth around digital applications, isn’t giving up on humans’ role in the home-buying process just yet…
LoanDepot Turns to Humans for Fintech’s Latest Real Estate Push
HFF Brokers Sale of San Antonio Retail Asset
By · CommentsSantikos Real Estate Services has sold Nacogdoches Crossing, a 22,434-square-foot neighborhood shopping center in San Antonio. A private investor acquired the asset, while HFF’s team of Managing Director John Taylor and Director Drew Fuller, represented the seller.
“Nacogdoches Crossing garnered significant interest from local and national investors due to the value-add nature of the asset, future development potential and Walmart shadow anchor,” said Taylor, in prepared remarks…
South Bay Office Building Changes Hands
By · CommentsA joint venture of Stanton Road Capital and Second City Real has acquired an eight-story office building in El Segundo, Calif., for $35.5 million. PCCP LLC provided a $29.1 million senior loan for the transaction, with David Milestone and Brett Green of NKF Capital Markets arranging the financing. According to Yardi Matrix data, the previous owner purchased the asset in 2011 for $23.9 million.
Marcus & Millichap Facilitates Self-Storage Sale
By · CommentsMarcus & Millichap has arranged the sale of Extra Secure Self Storage, a 76,236-square-foot self-storage facility in Pompano Beach, Fla. The company marketed the property on behalf of the seller, a limited liability company and procured the buyer, a private investor under the name Value Store It.
CenterPoint Leases 400 KSF Warehouse
By · CommentsUline has signed a five-year, full-building industrial lease totaling 417,384 square feet for CenterPoint Properties’ newest asset in the 2,391-acre LakeView Corporate Park in Pleasant Prairie, Wis. This lease marks the third building in the park Uline occupies. CenterPoint broke ground on the speculative development last summer, and construction finished late last year.
It’s Optimism by a Nose in Latest RCLCO Survey
By · CommentsSet aside the Mueller investigation, #MeToo and pretty much whatever else grabbed headlines last year. Despite all the political, media and social turmoil in 2017, part one of the year-end Sentiment Survey from RCLCO indicates that, in the eyes of numerous senior executives, the CRE outlook is a stable and surprisingly positive one.
BPDA Approves 159-Key Hotel in South Boston
By · CommentsThe Boston Planning & Development Agency (BPDA) board of directors has approved a new eight-story, 159-key hotel in South Boston. Evergreen Property Group LLC is the owner and developer, while Utile Inc. is the architecture studio behind the design.
Wyndham to Buy La Quinta for $2B
By · CommentsWyndham Worldwide Inc. is about to make a big purchase—a $2 billion purchase. The global hospitality company has entered into a definitive agreement to acquire the hotel franchise and hotel management businesses of La Quinta Holdings Inc. in an all-cash deal.
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Lender to boost investments in power, infrastructure, farming
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AfDB to raise total credit to Nigeria to more than $8 billion
The African Development Bank plans to increase its loans to Nigeria by more than $2 billion next year with investments in energy, infrastructure and agriculture, its President Akinwumi Adesina said…
African Development Bank to Increase Nigeria Loans by $2 Billion
TSCG Closes Partial Sale of FL Retail Asset
By · CommentsPeter Sleiman Development Group has acquired a 62,000-square-foot part of the Riverside Centre in St. Augustine, Fla. The previous owner, a partnership of RCG Ventures and DRA Advisors, sold the space for $6.7 million, according to public records. The sale price marks a slight uptick in value compared with the joint venture’s acquisition of the property in 2015 for $6.6 million. Directors Anthony Blanco and Lynn De Marco of The Shopping Center Group represented the seller in the transaction. The new owner funded the acquisition with a $4.6 million mortgage, held by Synovus Bank, per St. Johns County records.
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City takes top spot in annual Demographia affordability survey
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Study looks at 293 metropolitan markets in nine countries
Hong Kong was named the least affordable housing market for the eighth year in a study that put Sydney in the No. 2 slot and Vancouver as No. 3…
Hong Kong Takes Title for Least Affordable Housing for 8th Year
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FDIC’s Hagenbaugh joining Financial Service Forum, agency says
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Former journalist worked for Federal Reserve after 2008 crisis
Barbara Hagenbaugh, a spokeswoman for two U.S. regulators in the years after the financial crisis, is flipping the script and becoming a voice for the biggest firms on Wall Street…
Bank Regulators’ Spokeswoman Steps Down to Speak for Wall Street
Montage to Open Wine Country Hotel
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