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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

Top Story

Digital Assets: Magnum Offers New York City Condos For $29M (Bitcoin Only Accepted)

November 17, 2021

In a sign of the times, Magnum Real Estate Group is offering a set of retail condos worth $29 million for payment against bitcoin only, a first for commercial property in the Big Apple. The condos, covering 9,000 square feet, are in a newly constructed luxury residential building with the bottom floor already leased fully to ProHealth, Mighty Pita and M&T Bank. The proposed sale shows the growing adoption of cryptocurrencies, fanning out from coffee and cars and into condos.

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More Stories on Real Estate

Real Estate: Could Manufactured Homes Help Solve America’s Affordable Housing Crisis?

January 7, 2020

The country’s entire annual shortage of 300,000 homes is for low- and middle-priced housing.
Manufactured homes in blue-collar communities may alleviate the severe housing shortage for America’s working population. Consider this: Almost a quarter of home-owners, and half of those who rent their homes, pay about a third of their monthly income for housing.

Real Estate: M&G Continues Suspension of Its Real Estate Fund

January 6, 2020

M&G – the British insurer and asset manager – plans to continue the suspension of its 2.5 billion-pound property funds. The company made the announcement after it sold 70.4 million pounds in property to raise cash.

Tim Melvin: Expectations for REITs in 2020

January 6, 2020

NAREIT – the National Association of Real Estate Investment Trusts — explored REITs’ strong 2019 performance and linked the sector’s success to a bounceback from 2018’s lackluster performance.  Last week’s commentary quoted Matt Werner, portfolio manager at Chilton Capital Management.

Real Estate: ALPS Advisors Launches REIT Dividend Dogs ETF

January 2, 2020

ALPS Advisors announced the investment strategy for the new Exchange Traded Fund called the ALPS REIT Dividend Dogs ETF (RDOG). The strategy applies the “Dogs of the Dow Theory” to its rules-based investment strategy. Instead of selecting the five Dow Jones components with the highest yield, this strategy owns an equally balanced portfolio of the highest yielding five Real Estate Investment Trusts across 9 REIT sectors.

Alternative Investments: IRS Releases Regulations for Opportunity Zones

December 31, 2019

IRS Releases Regulations for Opportunity Zones. The U.S. Department of Treasury released the final Opportunity Zone Treasury Regulations last week. According to Russell J. Stein at Partridge Snow & Hahn LLP, the much-anticipated regulations are extensive and provide clarity into the working of the Opportunity Zone tax rules.

Is WeWork running out of money

Venture Capital: WeWork Golden Parachutes Are Very, Very Golden for Executives

December 30, 2019

The WeWork golden parachutes emerged from company documents over the weekend. Earlier this fall, the real estate firm received a bailout from SoftBank. The Financial Times recently gained access to company documents on negotiated exit packages before the cash infusion.

Kennedy Wilson Raises $775 Millon for New Real Estate Fund

December 27, 2019

Kennedy Wilson has locked up $775 million for a new fund. The Beverly Hills-based firm closed fundraising of the Kennedy Wilson Real Estate Fund. The real estate investment firm’s new fund will focus on value-add real estate investments, according to the Los Angeles Business Journal.

Real Estate: LaSalle’s 2020 ISA Advises Strategic Caution

December 20, 2019

The annual strategy report from LaSalle advises investors to maintain a strategic balance of offensive and defensive positions.
LaSalle Investment Management’s Investment Strategy Annual (ISA) 2020 says investors need to capitalize on opportunities and mitigate risk in 2020, according to an article by Andrea Zander in Institutional Real Estate, Inc.
The report covers outlooks for both the Canadian and US real estate markets.

Activist Update: Jonathan Litt Wants to Create a Casino REIT Colossus

December 20, 2019

Jonathan Litt Wants to Create a Casino REIT Colossus. Litt’s firm, Land & Buildings (L&B), has accumulated a “significant” position in GLPI, Litt revealed on Twitter on Wednesday. Besides, GLPI is now also L&B’s “largest position,” he tweeted. Litt says a GLPI-Vici deal will create a significant upside for GLPI shareholders.

Sun Life Financial Takes Big Stake in Real Estate Manager

December 18, 2019

Sun Life Financial and its alternative asset management arm just received a boost. Sun Life announced it plans to purchase an 80% stake in the infrastructure and real estate investment manager InfraRed Capital Partners.

Real Estate: Broadstone Net Lease IPO in 2020 Could Be $600 Million

December 13, 2019

The Broadstone Net Lease IPO in 2020 Could Be $600 Million. It has enlisted Goldman Sachs and JP Morgan for the IPO.

Prescott Group Closes Strategies Fund I at $63.4 Million

December 6, 2019

Prescott Group announced the closing of its first real estate private equity fund. The Prescott Strategies Fund I closed with a total commitment of $63.4 million. The Fund will invest in both real estate-related debt and equity positions. It will also focus on distressed and value add investments.

CBRE Talks U.S. Net-Lease Investment for the Third Quarter

December 5, 2019

CBRE, the global real estate investment and advisory firm, released the third quarter U.S. Net-Lease Investment Report.

Liability Mismatch Strikes Again: £2.5 Billion M&G Property Fund in the U.K. Suspended

December 5, 2019

Is the Woodford Income Fund saga in replay? Property or unlisted shares – both are hard to sell.
M&G Investments suspended dealings in its £2.5 billion M&G Property Portfolio with effect from midday on Wednesday due to sustained redemption pressure.

Real Estate: Ashford Hospitality Trust Sells 102-room SpringHill Suites Jacksonville

December 5, 2019

Ashford Hospitality Trust announced the sale of the 102-room SpringHill Suites Jacksonville in Jacksonville, Florida for $11.2 million.

That price works out to be $109,000 per key. The sales price represents a trailing twelve-month cap rate of 5.9% on net operating income. The deal had a 14.3x Hotel EBITDA multiple.

PwC: Takeaways from the Real Estate 2020 Outlook

December 3, 2019

Real Estate 2020 Building the Future (a report from PwC) looks at the key trends in the commercial real estate market for 2020 and beyond.

GLP’s New Income Fund to Target Chinese Logistics Assets

December 2, 2019

GLP is launching its new RMB15bn (US$2.1bn) Chinese logistics fund. The GLP China Income Partners Fund will focus on properties generating a stable income stream and recycle capital. GLP is a global investment manager, and business builder in logistics, real estate, infrastructure, finance, and related technologies.

American Hotel Income Properties REIT Buys 12 Hotels

November 29, 2019

American Hotel Income Properties REIT acquired a portfolio of 12 well-maintained Premium Branded hotels. The deal for the 12 hotels, totaling 1,203 guestrooms, is $191 million.

Real Estate Private Equity Firm Raises $540.8 Million

November 28, 2019

Green Courte Partners specializes in niche real estate investing.
Think airport parking. Leased land communities. Senior housing. Green Courte Partners is a private equity real estate investment firm that builds top-flight companies operating within special, niche real estate sectors. Green Courte Partners has just closed its fifth investment fund, Green Courte Real Estate Partners V, LLC (“GCREP V”), with total capital commitments of $540.8 million.

Alternative Investments: Alpha Real Capital Launches European Long Income Fund

November 27, 2019

Long income funds proved very resilient during the financial crisis. They still offer value in a different crisis – that of ultra-low or negative interest rates.
Low rates are a crisis all right for institutional investors such as pensions, endowments, insurance companies, and credit unions. And Europe is now again in negative territory. According to Alpha Real Capital, European long income property offers investors the opportunity for a significant yield differential over government and corporate bonds with comparable credit quality.

Tom Barrack Faces Activist Challenge at Colony

November 27, 2019

Tom Barrack is facing new activist pressure from Blackwells Capital after a period of underperformance. 

The three-way merger with two NorthStar REITs has, to be kind, not worked well at all for Colony. 

The REIT has seen its stock price reduced by two-thirds over this time.

Who’s Afraid of Carl Icahn? Not Putnam

November 25, 2019

Putnam Investments is on the opposite side of Carl Icahn’s massive short bet against mall owners’ debt. So is Alliance Bernstein. Putnam says Icahn is wrong to think malls are on death row. Putnam’s view stems from their fundamental observation that commercial real estate vacated in malls by retailers is finding takers. Only, the new tenants are service providers such as movie theaters, yoga schools, offices, even residences.

Occidental Petroleum and Carl Icahn

Activist Carl Icahn Is Shorting Mall Owners – Should You?

November 20, 2019

Activist Carl Icahn has taken another big bet against a sector. This time, the hedge fund manager is targeting mall operators. Icahn could earn $400 million or more if mall operators start to face debt problems. According to the Wall Street Journal and its sources, Icahn likely holds the largest short position against these companies. 

Mitsubishi Prepares to Launch U.S-Based REIT

November 19, 2019

Japanese trading giant Mitsubishi Corp. will launch its first U.S.-based real estate investment trust.