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Real Estate

Real estate remains a top-performing asset and in robust demand among institutional investors and high-net-worth investors. This best-in-class asset comprises nearly $300 trillion in global value and continues to climb as demographics fuel international demand. From REITs to capital flows, from private equity strategies and value creation to booming demand for luxury properties, the DailyAlts Real Estate channel covers the top news and insights in the space

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Venture Capital: Brazilian Real Estate Marketplace Loft Scores $425M

March 23, 2021

A booming housing market plus the digitization spurred by the pandemic have added up to land Sao-Paulo-based real estate marketplace Loft in a happy place. The three-year-old startup grew its business 28X in 2020 compared to the previous year, yet still has money left over from its last Series C raise of $175 million in January 2020. Nevertheless, Loft announced today its raise of $425 million at a whopping $2.2 billion valuation.

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More Stories on Real Estate

Real Estate: Green Street Advisors Talks Coronavirus and Real Estate

April 15, 2020

Leading real estate and REIT research firm Green Street Advisors has recently commented on the impact of the coronavirus on commercial real estate markets.

They note that that as recently as five weeks ago, no one was all that concerned with what the virus might do to real estate investment trusts balance sheet. That has changed quickly as the economic shut down to prevent the spread of the virus has altered both public and private real estate markets in a material fashion.

Real Estate: Coronavirus Hits Property Deals Across Manhattan

April 13, 2020

Aby Rosen, the co-founder and principal of RFR Realty, is dropping out of two previously announced deals in Manhattan. RFR is backing out on a deal to buy 900 Third Avenue in Midtown from Paramount Group (PGRE) for $400 million. It is also walked away from a plan to buy property at 1600 Broadway in Times Square that listed at roughly $200 million. There are reports that Mr. Rosen is willing to consider closing the deal for 900 Third Avenue when the pandemic has passed.

Real Estate: Tom Barrack Hires Lobbyists for Commercial Mortgage Aid

April 8, 2020

Tom Barrack, the head of Colony Capital (NYSE: CLNY), has hired several lobbyists to help assist the commercial mortgage industry. Barrack has been warning for weeks about the challenges the industry faces due to late or unpaid rents tied to the lack of economic activity.

REITS: Activist Bow Street Still Takes Aim at Board of Mack – Cali

April 7, 2020

Last year activist investor Bow Street won 4 seats on the Board of Mack- Cali (NYSE: CLI). This REIT invests in office and multifamily projects in the Northeastern United States.

Last week, Mack-Cali decided not to re-nominate those board members for a new term.

In their statement announcing the decision, Mack-Cali officials said the four had worked to blatantly promote Bow Street’s self-interest. The firm accused the activist firm of wanting to force a fire sale of the company as a whole or the assets one by one. Mack-Cali said selling would not be in the best interest of shareholders. 

REITS: Industrial Properties Look Promising On These Trends

April 3, 2020

Like most Real Estate Investment Trusts, the prices of industrial REITs have declined sharply in the coronavirus driven selloff in the equity markets. While there may be real concerns for some sectors of real estate like office space, shopping centers, and even multifamily properties, industrial real estate may well see a dramatic increase in demand for the properties they own and manage.

Real Estate: Blackstone Group Pulls Out of Oakland Deal for Upton Station Building

April 3, 2020

Blackstone Group (NYSE: BX) is pulling out of a deal to buy an office property in Oakland, California, for $400 million. Blackstone had planned to use funds from its non-traded Real Estate Investment Trust (BREIT) to buy the Upton Station building from real estate and infrastructure invest firm CIM Group. Blackstone will forfeit a $20 million deposit to exit the transaction.

Liquid Alternatives: ITB, The Home Construction ETF May Have Bottomed

April 3, 2020

ITB is the largest ETF in the home construction space. It provides exposure to U.S. companies that manufacture residential homes by tracking the Dow Jones U.S. Select Home Construction Index. It currently has assets of $707.64 million and charges an expense ratio of 0.42%.
ITB may be ready to rebound, on account of both technical and fundamental factors.

REITs: Big Insider Buying at Hudson Pacific Properties

April 1, 2020

Prices of Real Estate Investment Trusts and real estate operating companies plunged in March. Officers and directors of many REITs have stepped up to buy the shares the public has sold.

Some of the most significant insider buying has occurred recently at Hudson Pacific Properties (NYSE: HPP) where three insiders have combined to make open market purchases of the REIT they help direct.

Real Estate: Taubman Letter Shows How Ugly April Will Get for Commercial Real Estate

March 30, 2020

Taubman Centers (NYSE: TCO) sent a letter to tenants last week saying that they must honor their leases and pay rent despite the spread of coronavirus. In a letter dated March 25, the mall operator said that it needs the cash flow to meet its obligations to utility companies and mortgage lenders. 

Real Estate: Tom Barrack Sounds the Alarm Over Commercial Lending

March 25, 2020

Tom Barrack penned a white paper that outlines the need for massive and immediate relief in the commercial real estate lending markets. Barrack is the Chairman and CEO of Colony Capital (NYSE: CLNY). Barrack makes the case that if the commercial real estate lending markets fail, the spillover effect to the rest of the economy will be disastrous. He predicts the results “could be exponentially worse than the economic effects of the 1987 crash, September 11th attacks, and 2008 recession, combined. The long-term impact on the economy could be catastrophic.”

Real Estate: iBuyer Zillow Freezes Home Buying; Expert Warns of Housing Market Shutdown

March 24, 2020

A LendingTree economist says the virus will bring the U.S. housing market to a halt. Further, Zillow Group (NASDAQ: ZG) announced Monday it will pause home buying in all 24 markets where ts Zillow Offers unit currently operates. The action was in response to local public health orders related to COVID-19. This has implications for the U.S. housing market.

Real Estate: REIT Directors Are Buying Up Shares

March 20, 2020

The SPDR Dow Jones REIT ETF (IRE) has fallen by 38% in the past month as concerns about quarantines and lockdowns emptying offices, hotels, shopping centers, and other commercial real estate properties. Dire predictions about changes in work habits and a deep economic slowdown destroying the industry are everywhere on the internet and media.

Real Estate: Cohen and Steers Issues Report on Coronavirus

March 18, 2020

Cohen and Steers issued a report this week detailing the firm’s outlook for real assets in light of the coronavirus and its impact on the economy.

The virus is likely to cause significant disruptions to travel, trade, manufacturing, and confidence according to the report with a potentially dramatic impact on asset pricing.

Real Estate: Are Home Sellers Complacent? Palm Off Your Property to an iBuyer NOW

March 17, 2020

Wall Street is wasting no time discounting the economic effect from the deadly coronavirus, as seen from the very sharp cut in stock prices. It appears, however, that the real estate market is still ensconced in a cocoon of complacency, judging from the results of a recent survey by the National Association of Realtors (NAR). Home sellers may do well to dispose of their property to an iBuyer.

Digital Assets: Emerging Trends After the Virus Pushed Real Estate Across the Digital Divide

March 16, 2020

Foreigners located in Japan, South Korea, China have suddenly discovered the virtues of closing property deals in the US remotely and online, writes Natalia Karayaneva in an article in Forbes. And the coronavirus deserves the blame (or credit).

Digital Assets: Crowdfunding Via Blockchain to Transform Japanese ‘Ghost’ Dwellings

March 11, 2020

Two companies are collaborating to revitalize the market for Japanese homes.
A blockchain-powered solution may be the answer to the problem of millions of abandoned homes in Japan. Known as ‘akiya’ these ghost dwellings numbered about 8 million in 2013. This number has now ballooned to 10 million by 2020, and is on track to comprise 30% of all Japanese homes by 2033. Real estate crowdfunding via the blockchain may give these properties a new lease of life, according to Securitize.

Private Equity: Blackstone Makes Bid for Soho China

March 11, 2020

Soho China could be next. Proving once again that the firm is fearless, private equity and alternative form Blackstone (NYSE: BX) is stepping up to the plate to bid for real estate in China. Blackstone is bidding $4 billion to take over Hong Kong-listed property company Soho China.

Real Estate: Global Medical REIT Reports Earnings

March 5, 2020

Global Medical reported that they had increased total revenue 42.3% period-over-period to $20.5 million, It cited its acquisition activity over the last twelve months for the boost. During the quarter, the REIT acquired five properties, encompassing an aggregate 185,220 leasable square feet, for an aggregate purchase price of $72.8 million at a weighted average cap rate of 7.4%.

For the quarter Funds from Operations (“FFO”) came in at $0.21 per share and unit. This was higher than the  $0.20 per share and unit in the comparable prior-year period.

Real Estate: KKR Joins Two South Korean Firms in Deal for Namsan Square

March 2, 2020

Global investment firm KKR, Korea real estate fund manager IGIS Asset Management, and Korean real estate developer SK D&D have purchased Namsan Square.

The property is an office tower located in the central business district of Seoul. They acquired the property from a real estate investment trust operated by KOREIT, a domestic asset manager in Korea.

Real Estate: Arbor Realty Trust Discusses State of Single Family Rentals

February 25, 2020

Arbor Realty Trust (NYSE: ABR) has released a report that examines the state of the single-family rental (SFR) industry.

Arbor believes that 2019 will be looked back on as the year that the SFR business transitioned from a niche, alternative asset class to a mainstream property type. Millennials are still struggling with crushing levels of student debt and large down payment requirements are increasingly making the decision to rent a single-family home rather than buy one. That generation is catching up on household formation and as they starting new families many are deciding that the suburbs are preferable to downtown when raising a child.

Real Estate: National Association of Realtors Issues Report on Cannabis

February 21, 2020

The National Association of Realtors recently released a report outlining the impact of cannabis on commercial and residential real estate.

As legalization spreads across the United States, the industry is booming. Rising cannabis production had created an uptick in demand for industrial and office space. The Association States – where medical and recreational marijuana has been legal for more than three years – have seen more increases in demand for commercial properties. There has been a 42% in demand for warehouses, a 27% increase for storefronts, and a 21% increase for land.

Coldwell Banker Names Boise, Charlotte, Colorado Springs, Cincinnati, and Fort Worth Top Real Estate Markets

February 21, 2020

Coldwell Bankers, part of Realogy Holdings Corp (NYSE: RLGY), has released its annual Global Luxury Real Estate report. Titled simply “The Report 2020,” it analyzes the latest trends and data provided by leading influencers from The Institute for Luxury Home Marketing, WealthEngine, Unique Homes, and in-the-field real estate specialists.

Real Estate: IQHG Locks Up 109 Brookline in Fenway Area of Boston

February 20, 2020

IQHQ has come off a recent successful $770-million capital raise and acquired 109 Brookline in the Fenway section of Boston for $270 million. The building was acquired form Commonwealth Equity Partners (NYSE: EQC). This REIT has been selling noncore properties for years now and accumulating cash to reinvest when the markets pull back.

Real Estate: Takeaways from the NAREIT Study on the U.S. Economy

February 12, 2020

The National Association of Real Estate Investment Trusts (NAREIT) commissioned advisory and consulting firm EY to examine the economic impact that REITs have on the US economy.