San Diego-Area Industrial Asset Trades for $3M
By · CommentsGieger Court LLC has sold a 19,504-square-foot industrial building in Vista, Calif., for $3.5 million. Kidder Mathews brokered the off-market transaction on behalf of the buyer, a local private investor.
Located at 1221 Liberty Way, the industrial property is situated an hour’s drive from downtown San Diego, while Los Angeles is a two-hour drive away. The property is part of the area’s well-developed business park on the southern outskirt of Vista, with the McClellan-Palomar Airport only 3.5 miles from the site…
CBRE Facilitates Sale of Dayton Manufacturing Building
By · CommentsCBRE Group has facilitated the sale of a 20,774-square-foot manufacturing building in Dayton, Ohio, for $525,000. Wernli Realty Corp. previously owned the property. CBRE’s Beau Nimer and Doug Whitten represented the buyer, Frye Mechanical, in the transaction.
Located at 1500 Humphrey Ave., the property is one minute from State Route 35 and offers convenient access to interstates 75 and 675. Featuring 15,000 square feet of production space and 5,000 square feet of office space, the building includes heavy three-phase power, 10-ton and four-ton cranes and an industrial-size gas service…
-
Residential launches, sales fall steeply across 8 cities
-
No hardening of prices seen in 2018; recovery to take a year
India’s financial capital Mumbai witnessed a decline in residential property prices for the first time in a decade last year following a crackdown on undeclared cash, new consumer protections and the roll-out of a nationwide sales tax, according to Knight Frank…
Mumbai Home Prices Post First Drop in Decade Amid Modi Crackdown
-
Asia seen outperforming the rest of EM in stocks, currencies
-
Thailand, Indonesia to hold elections; N. Korea threat lingers
Asia was the place to be for emerging-market investors in 2017, but a slew of issues and events risk standing in the way of the region repeating that world-beating performance…
Risks and Rewards: An Investors’ Guide to Asia Markets in 2018
C&W Signs New Tenant at Franklin Plaza in Roanoke
By · CommentsACF will move its offices from 3353 Orange Ave. NE, and plans to invest more than $4 million to expand its operations. The company, which is one of the city’s major employer’s, is expected to create more than 115 new jobs once the relocation is complete…
1 MSF Office Development Lands Approval in San Jose
By · CommentsTMG-VOP Julian LLC, a joint venture between TMG Partners and Valley Oak Partners LLC, has filed a site development permit application to develop a one-million square feet of commercial office space in Downtown San Jose, Calif.
The joint venture’s submission is on the heals of San Jose City Council’s approval on Dec. 12 to rezone the site from “Light and Heavy Industrial” to “Transit Employment Center (TEC).” The preliminary plans were submitted to the City of San Jose for the development of three six-story office buildings with below-grade parking this past June…
The biggest mistake real estate investors often make is ignoring the supply side.
That’s the view of Harvard Professor Edward Glaeser, who’s touring Scandinavia as a speaker at the annual Skagen Funds conference.
While economic analysis traditionally tends to look at the demand side of the housing market, ignoring the supply side could prove fatal, Glaeser said, warning of “unfettered supply” in China’s second- and third-tier cities…
What if Real Estate Investors Are Looking at the Housing Market All Wrong?
-
Supreme Court is set to consider if benefit cuts permissible
-
Ruling could provide relief to cash-strapped localities
California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions and potentially provide financial relief to the state and its local governments…
California’s Brown Raises Prospect of Pension Cuts in Downturn
Interstate Lands Management of Philly Hotel
By · CommentsInterstate Hotels & Resorts has been selected to manage Renaissance Philadelphia Airport Hotel, which was recently acquired by AMENA Hotels, a subsidiary of AVANA Capital. The firm acquired the property from previous owner Columbia Sussex at the end of November 2017, according to Delaware County records. The new owner plans to start comprehensive renovation work soon.
Hyatt Place Opens Doors in Knoxville
By · CommentsA new 165-key hotel has opened for business in an iconic, century-old building in downtown Knoxville, Tenn. Branded as the Hyatt Place Knoxville/Downtown, the building is owned by Dover Development and operated by White Lodging. Dover Development acquired the asset in 2014 for $3.7 million, according to public records.
-
Credit Suisse, Morgan Stanley see home prices rising in 2019
-
Housing recovery will extend through 2019, Morgan Stanley says
Credit Suisse Group AG and Morgan Stanley are calling the end of Singapore’s property downturn, after a second consecutive quarterly increase in private residential prices…
Singapore Property Rebound Just Starting as Prices Seen Jumping
Miami-Area Retail Asset Lands $25M Acquisition Loan
By · CommentsHow Did Office Employment Perform in 2017?
By · CommentsDecember’s payrolls report “showed a modest deceleration in employment, as total private sector job growth at the establishment level rose by 146,000,” which was well below the 239,000 upwardly revised gain in November, according to a new report from Savills Studley. More specifically, office employment grew by 32,000 in December, which the report calls “a disappointment,” given monthly growth averaging 53,000 over the past year.
-
Franco-Japanese tie-up to invest $200 million in first year
-
Electrification, AI, autonomy, connectivity to be fund’s focus
The world’s largest automotive alliance will invest as much as $1 billion to fund mobility startups over the next five years as it looks to make inroads with new technology at a time of rapid upheaval for the transportation sector…
Nissan-Renault Plans $1 Billion Fund for Auto Tech Startups
Evocative Enters VA Data Center Market
By · CommentsEvocative has purchased data center operations in Reston, Va. from Lincoln Rackhouse, a division of Lincoln Property Co. It also signed a long-term lease with the option to purchase the facility. Located in one of the largest data center markets, the Michael Faraday building will be connected to the company’s facilities on the West Coast.
A joint venture between PCCP LLC and Capital Partners LLP has acquired a seven-property industrial portfolio in and around the metro area of Minneapolis, Minn., from Artis. At the time of the sale, the 1.2 million-square-foot portfolio was 82 percent leased.
-
Billionaire’s other arbitrage fund is said to drop 42%
-
Paulson & Co.’s assets under management falls to $9 billion
One of John Paulson’s hedge funds has plunged about 70 percent over the past four years, marking a dire stretch for the billionaire plagued with investor redemptions.
The Paulson Partners Enhanced fund, which uses borrowed money to double down on its trades, sank 35 percent last year and about 49 percent in 2016, according to a person familiar with the matter. That caps a four-year money-losing run for the fund, which follows a merger arbitrage strategy on which Paulson founded his firm…
KeyBank Arranges $41M for GA Community
By · CommentsKeyBank Real Estate Capital has arranged a $40.7 million Fannie Mae, first mortgage loan for a 320-unit luxury community located in Savannah, Ga. Passco Cos. used the financing to acquire Mariner Grove from Brand Properties, in a multifamily transaction brokered by Cushman & Wakefield. Chris Black and Caleb Marten of KeyBank’s Commercial Mortgage Group arranged the 10-year, non-recourse loan featuring a 30-year amortization schedule and a five-year interest only period.
Hong Kong Property’s Curious Disconnect
By · CommentsHong Kong’s towering home prices might rise another 10 percent this year. All the more reason to shun developers and buy retail or even office landlords.
That might not make sense at first glance, but the real estate boom hasn’t benefited developers in the city much in the last seven years. There’s been a disconnect, as JPMorgan Chase & Co. analyst Cusson Leung notes, between the city’s residential prices — up 200 percent since 2009 — and stocks like Li Ka-shing’s CK Asset Holdings Ltd. and Henderson Land Development Co…
Hong Kong Property’s Curious Disconnect
NorthMarq Appoints New SVP in Richmond
By · CommentsNortMarq Capital has hired a new Vice President for its Richmond operations. Reina Abboud, who will join the team led by Keith Wells, has been in the real estate business for almost six years.
Abboud will be responsible for the origination, underwriting, marketing and closing of commercial real estate loans. She will provide equity and debt solutions to clients, sourced through multiple lenders such as life insurance companies, conduit and agency lenders, commercial banks and credit unions…
-
Nordea Swedish Stars fund was best large cap fund in Sweden
-
Fund’s largest holding is Volvo, sees 30-35% upside in company
Last year didn’t end well for Hennes & Mauritz AB. And this year has started with a controversy over a “monkey hoodie.”….
H&M Gets Support From a $12 Billion Manager of Stocks in Sweden
-
Vanessa Selbst, changing careers at 33, now at Dalio’s firm
-
Like gambling, investing is ‘also really freaking difficult’
Vanessa Selbst, the most successful woman ever in tournament poker, is working at Bridgewater Associates to learn another big-money grind: hedge funds.
Selbst, who won $11.9 million in prizes over 12 years in the card game, joined the world’s largest hedge fund, according to a person with knowledge of the matter, who asked not to be identified because the information isn’t public. In a Dec. 31 Facebook post announcing a career change, Selbst said she started at an unspecified hedge fund firm four months ago to focus on trading research and strategy. Selbst didn’t respond to messages seeking comment…
JLL Brokers Sale of 107 KSF Studio Campus
By · CommentsJLL has arranged the sale of 3030 Studios, a 107,875-square-foot studio campus in Los Angeles. Gaw Capital Partners acquired the building from World Class Capital Group, which launched the firm’s commercial mortgage lending business last February, dubbed World Class Mortgage Capital. JLL worked on behalf of the seller in the transaction.
-
Greenwich Associates survey finds global impact of regulations
-
Report shows fund managers reducing number of providers used
European fund managers have cut their 2018 investment research budgets by 20 percent as they scale back the number of providers they use in response to MiFID II.
That’s according to a survey of fund managers conducted by U.S. consulting firm Greenwich Associates, which assessed the shakeup to the multi billion-dollar market for research under the European Union law that started Jan. 3. The law requires asset managers to separate payments for investment research from those for brokerage services to execute trades…
Rare St. Louis Office Space Available for Lease
By · CommentsJoe Edwards, a developer of the Delmar Loop in St. Louis, has tapped Avison Young to lease several office spaces, ranging from 600 to 10,000 square feet, on Delmar Boulevard. Layouts as large as 10,000 square feet have not been available for lease in the area for nearly two decades.
Equity Euphoria Grips the Entire World
By · CommentsThe most hated rally this is not.
-
Ant Financial has not sold any ABS in China in the past month
-
Regulators stopped approving certain consumer-loan ABS: people
After selling billions of dollars of debt backed by consumer loans last year, Chinese billionaire Jack Ma’s Ant Financial is pausing such fundraising as the government steps up curbs on micro lending.
The company hasn’t sold any asset-backed securities since early December, according to data compiled by Bloomberg and China Securitization Analytics. That marks an abrupt shift after it issued a record 238 billion yuan ($37 billion) in 2017 of such securities backed by consumer loans…
NKF Arranges Sale of Best-In-Class MA Asset
By · CommentsA private real estate fund advised by Crow Holdings Capital Partners-Real Estate (CHC-RE) has purchased Middlesex Marketplace in Burlington, Mass. NKF Capital Markets represented the private seller of the best-in-class retail property.
The site is located along Middlesex Turnpike, an important retail corridor in Burlington and the western Boston area, providing visibility for an average of 37,400 vehicles per day. Comprising 38,243 square feet, Middlesex Marketplace dates back to 2013 and features a free-standing build-to-suit space for Del Frisco’s Grille…
-
Funding to billion-dollar companies hits all-time record
-
Number of venture-capital-backed exits hits lowest since 2011
Venture capital funding in the U.S. has hit its highest level since the dot-com era.
U.S. venture firms deployed $84 billion in more than 8,000 companies last year, according to research firm PitchBook. The last time this much money sloshed around Silicon Valley and other tech hubs, many venture firms lost their investments in the dot-com bust of the early aughts. That’s far less likely to happen today…
Hedge Funds’ Indian Revenge, by Way of Singapore
By · CommentsThe city-state may soon offer dollar-denominated derivatives on Indian stocks tracked by MSCI.
Six months ago, India’s regulator had the brilliant idea of destroying a market it believed existed only for “naked speculation.” Now’s the time for hedge funds in Singapore to put on some clothes and plot their revenge…
Hedge Funds’ Indian Revenge, by Way of Singapore
PGIM Real Estate Names Marcus as Next Americas Head
By · CommentsAfter 36 years at PGIM Real Estate, Kevin Smith, the firm’s head of Americas, will retire in March, a plan originally announced to investors last May.
In his time at the company, Smith served as head of its U.S. business from 2012 to 2014, was senior portfolio manager for PGIM Real Estate’s flagship core equity real estate fund, PRISA, as well as its value-add fund, PRISA III, and was responsible for the oversight of all aspects of each fund’s operations, including portfolio strategy, acquisitions, sales and asset management…
Aston Martin Seeks $6.8 Billion Value in Potential IPO
By · Comments-
Maker of Bond sports cars discussing London IPO by year-end
-
Expansion into SUVs expected to boost deliveries in 2019
Aston Martin is targeting a valuation of as much as 5 billion pounds ($6.8 billion) in a potential initial public offering of the British sports car maker, according to people familiar with the matter…
-
Partners Group has quietly become a private equity behemoth
-
But can the Swiss take on U.S. firms on their home turf?
Talk about the titans of private equity and you’ll probably think Blackstone Group LP, KKR & Co. or Carlyle Group LP…
One of the Most Valued Private Equity Firms Isn’t on Wall Street
U.K. house prices fell for the first time in six months in December amid economic uncertainty and a squeeze on incomes.
Prices slid 0.6 percent on the month, the first decline since June, mortgage lender Halifax said on Monday. Annual price gains slipped to 2.7 percent in the last three months of the year, from 3.9 percent previously…
U.K. House Prices Drop in December as Economy Loses Steam
Hong Kong’s property boom is quietening down, according to Credit Suisse Group AG.
The brokerage projects home prices in the city will rise 3 percent this year, compared with 13 percent in 2017, as the risk of higher interest rates and increasing housing inventory grows. Faster supply of new units will suppress price growth in the “mid-to-long run,” said analyst Susanna Leung, advising investors favor developers with strong sales in recent years. Credit Suisse’s top picks are CK Asset Holdings Ltd. and New World Development Co…
Hong Kong Housing Market Is Starting to Cool, Credit Suisse Says
-
Pace of revisions to U.S. profit estimates highest in 10 years
-
Bullish analyst sentiment can be a contrarian indicator
Euphoria on Wall Street that stocks can just keep on building on record highs is getting so stratospheric that it’s reaching levels that previously signaled a slump…
Wall Street’s Rising Euphoria May Spell Trouble for Stock Market
-
Timber giant exploring dual listing for automotive operations
-
Distribution businesses span greater China to Southeast Asia
Samling Group, the Malaysian timber giant, is planning an initial public offering of its automotive operations that could raise more than 1 billion ringgit ($250 million), people with knowledge of the matter said…
Samling Is Said to Prepare $250 Million IPO for Bentley Dealer
Add Chanticleer Holdings Inc. to the list of companies racking up big stock-market gains by jumping on the cryptocurrency bandwagon…
Hooters Franchisee Surges 41% on Cryptocurrency Rewards Program
The Tax Law Hits Manhattan Home Sales
By · Comments-
Apartment shoppers hold firm on prices as gains moderate
-
Owners offered average discounts of 5.7% in the fourth quarter
Manhattan home resales fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay…
The Tax Law Hits Manhattan Home Sales
CenterPoint Increases Bay Area Footprint
By · CommentsCenterPoint Properties has acquired a property consisting of three buildings in the East Bay area. The previous owner, Clawiter Associates LLC, had marketed the asset for sale through a Colliers International team led by Dan Bergen and Richard Sutherland.
Pam Codispoti dreamed up the travel-and-experiences rewards card, which rocked rival American Express. Now, she plans to overhaul the way millennials use banks.
Pam Codispoti had a dilemma. She’d been brought on by JPMorgan Chase & Co. to develop a credit card for affluent millennials in 2014—a time when no one thought the group wanted credit cards…
The Mastermind Behind Chase’s Industry-Changing Sapphire Reserve Card Sets Her Sights on Banking
How Fund Managers Dashed the Hopes of Equity Analysts
By · CommentsMiFID won’t lead to a bonanza for independent research firms.
Investment research boutiques were among the few financial firms with reason to look forward to MiFID II…
How Fund Managers Dashed the Hopes of Equity Analysts
Houston Embarks on Healing Process
By · CommentsThe Houston apartment market is still struggling to recover from the 2015 oil price drop. Despite its havoc, Hurricane Harvey provided a short-term boost to fundamentals, as demand for living space from residents displaced by the storm temporarily increased multifamily occupancy.
-
anagers must break down fees to distributors under rules
-
Investors cannot compare fund costs without common methodology
Apples? Oranges? Orange apples?…
MiFID Fund-Fee Disclosure Makes Comparison Shopping Clear as Mud
-
Maj Invest holds MTU Aero, Taiwan Semiconductron and GM
-
Fund invests in ‘hated’ stocks that are ‘covered by dust’
Reading brokerage research and meeting chief executive officers are a waste of time for this fund manager.
Both are unlikely to provide any useful information to beat the market, according to Kurt Kara, head of value equities at Copenhagen-based Maj Invest…
Stock Fund That Beats 95% of Peers Ignores CEO Talk, Research
Demographic Expansion Pushes Up Demand in Dallas
By · Comments-
The firm’s purchases are said to total less than $20 million
-
Investment in digital currency is a point of debate among VCs
Bitcoin has gained global fame in the past year, but it’s been popular at Peter Thiel’s venture firm since at least 2012…
Thiel’s Founders Fund Has Been Quietly Buying Bitcoin Since 2012
CBRE Brokers 167 KSF Minnesota Portfolio Deal
By · CommentsCBRE arranged the sale of a three-building, 166,650-square-foot portfolio in Eden Prairie, Minn. The portfolio includes Edenvale Executive Center A & B and Valley Gate North, and represents Red Tail Acquisitions’ second purchase in the Minneapolis market. The properties offer industrial and office space—approximately 83 percent of the entire surface.
Edenvale Executive Center, completed in 1986, is located at 7600-7688 Executive Drive. The 112,332-square foot asset features clear heights of up to 14 feet and five loading docks. Valley Gate North is located at 10025 Valley View Road. It was built in 1985 and bought by the previous owner in 2014 for $3.3 million, according to PropertyShark data. The two buildings are 82 percent occupied…
Dalfen America Acquires Columbus Asset
By · CommentsDalfen America Corp. has acquired Alum Creek Business Center, a 303,000-square-foot industrial property located close to Rickenbacker International Airport in Columbus, Ohio. With the addition of this asset, the company’s Columbus industrial portfolio adds up to approximately 1.1 million square feet.
“The rapid growth of e-commerce has led to an increasing demand for quality warehouse space and Columbus continues to be one of the nation’s top locations for distribution,” said Sean Dalfen, DAC’s president, in a prepared statement…
Australian Home Prices Fell in Final 3 Months of 2017
By · Comments-
Sydney market continues to cool, declining 2.1% in quarter
-
Expect softer housing conditions in year ahead, CoreLogic says
Australian home prices fell in the final three months of 2017, the first such decline in almost two years, as the nation’s biggest market Sydney continued to cool.
Values nationally declined 0.3 percent in three months to Dec. 31, the first such drop since the period ending April 2016, according to CoreLogic Inc. data released Tuesday. Prices in Sydney dropped 2.1 percent in the quarter, dragging the city’s annual growth rate to 3.1 percent from 17.1 percent just seven months ago…
Manhattan’s New Mondrian Hotel Gets Refi
By · CommentsHFF has arranged a $126.57 million refinancing for the Mondrian Park Avenue, a 190-key, luxury hotel that opened in October in Manhattan’s NoMad neighborhood at 444 Park Ave. South.
The HFF debt replacement team representing the borrower, David Moinian of Moin Development Corp., included Senior Managing Director Evan Pariser and Senior Director KC Patel.
Home2 Suites Opens in Broward County
By · CommentsHome2 Suites by Hilton has opened its milestone 200th property in Miramar, Fla. The 101-key Home2 Suites by Hilton Miramar Ft. Lauderdale is owned by Hotelex Group LLC and managed by Naples Hotel Group LLC. The hotel matches the potential of Greater Fort Lauderdale’s strong tourism sector, providing a range of tech-focused and eco-conscious amenities.
The property is located at 2800 SW 149th Ave., offering easy access to I-75, a wide range of shops and restaurants, Hard Rock Stadium and Huntington Corporate Plaza. Miramar Regional Park is 1.4 miles away…
-
Swedish mortgage book shrank for second month in November
-
Nordea in September decided to move headquarters to Finland
Nordea Bank AB’s Swedish mortgage loan book continued to shrink in November after the biggest Nordic lender saw the first decline in at least 15 years the previous month…
Nordea Bank Continues to Lose Market Share in Swedish Mortgages
Cresa to Manage National United Access Portfolio
By · CommentsCresa has been chosen by United Access, a supplier of wheelchair-accessible vehicles and equipment, to manage its national real estate portfolio of 26 industrial and retail sales and service centers.
The portfolio spans from Oregon to New York, spread across 11 states (Oregon, Utah, Colorado, Arizona, New Mexico, Oklahoma, Texas, Missouri, Kansas, Tennessee and New York)…
-
Residential prices gained 0.7 percent last quarter, data show
-
City’s cooling measures may limit pace of further gains
Singapore home prices rose for a second straight quarter, reinforcing signs the city-state’s property market is emerging from a four-year slump…
Singapore Home Prices Rise for Quarter Adding to Rebound Signs
An English spa town and two coastal areas saw the biggest house-price increases in the U.K. last year, outstripping gains in London’s hotspots…
U.K.’s Biggest House-Price Jumps Came Outside London Last Year
Bridge Office Sells 460 KSF Metro Atlanta Complex
By · CommentsThree years after acquiring Parkway Center in Marietta, Ga., Bridge Office Fund Manager LLC has sold the 460,000-square-foot, Class A office complex. The Simpson Group is the new owner of the suburban Atlanta asset.
Sydney’s cooling property market cause first quarterly decline in almost two years
The first quarterly decline in Australian home values in almost two years may be a sign of what’s to come. National dwelling values fell 0.3 percent in the last three months of 2017, the first such drop since the period ending April 2016, weighed by Sydney’s cooling property market, according to CoreLogic Inc. data released Tuesday. Softer conditions throughout 2018 are likely as “Sydney’s housing market has become the most significant drag on the headline growth figures,” said Tim Lawless, CoreLogic’s head of Australia research…
-
NY budget director questions Trump administration’s commitment
-
Says 50-50 cost-sharing was discussed in August at White House
New York Governor Andrew Cuomo’s administration is fighting back at President Donald Trump’s U.S. Department of Transportation casting doubt over its commitment to finance the $12.7 billion Gateway commuter rail tunnel under the Hudson River…
Cuomo Seeks to Salvage Agreement on Financing Hudson Rail Tunnel
Two-State Industrial Portfolio Commands $40M
By · CommentsArtis REIT has acquired a nine-building industrial portfolio in Colorado and Arizona, from BPP Pacific, for $40 million.
The 379,487-square-foot portfolio is spread out across three industrial parks— Rocky Mountain Business Center, located in Aurora, Colo.; and Roosevelt Commons and Superstition Springs in Tempe and Mesa, Ariz., respectively.
JLL’s capital markets team represented the seller in the transaction…