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
Yieldstreet, a prominent private market investment platform, has officially announced its acquisition of Cadre, an online real estate-focused investment platform catering to institutional and high net worth investors. This strategic move solidifies Yieldstreet’s category leadership, incorporating Cadre’s institutional clients, unique investment platform, and a substantial investor base.
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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.
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 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 acquired a portfolio of 12 well-maintained Premium Branded hotels. The deal for the 12 hotels, totaling 1,203 guestrooms, is $191 million.
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.
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 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.
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.
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.
Japanese trading giant Mitsubishi Corp. will launch its first U.S.-based real estate investment trust.
The Brookfield Asset Management earnings report emerged last week. The company had another solid quarter. Fee-related earnings before performance fees increased 35% over the prior-year quarter.
Thanks to Carl Icahn’s activism, and an $8.58 billion acquisition kitty, Eldorado is in the driver’s seat in US casino operations. It will soon have Caesars in its fold. After completion of the transaction in 2020, Eldorado will be the biggest casino operator in the U.S.
Facebook is moving to Hudson Yard, the single largest private real estate project in the United States. The social media giant will lease 30 floors and three buildings in the West Side neighborhood of Manhattan.
Quarz Capital Management is pushing for a merger of two large Singapore-based real estate investment trusts (REITs). The activist fund is pushing for a merger of Sabana Shari’ah Compliant Industrial REIT and ESR-REIT.
WeWork bonds hit new lows this week after a financial review of the company MarketAxess.
Daniel Adams, an analyst at Nomura Instinet, thinks gaming REITs are likely to be re-rated higher by investors.
Valuations in the three-player sector could notch higher based on property sales, and deal-making feels the analyst.
The top European real estate market for investors is Paris, France. That rank comes from a new report on emerging trends in the European markets from PwC and ULI. Paris is followed by Berlin and Frankfurt, Germany in the second and third slots. London, England sits fourth on the list.
Greystar Real Estate Partners raised $2 billion for a new U.S. multifamily fund. Further, the new fund will target multifamily investments in the U.S. markets.
Jones Lang LaSalle released its third-quarter U.S. Office outlook recently. The global commercial real estate firm found that conditions are generally good.
Real Estate Expert Scott McGillivray & the McGillivray Group will provide expertise on acquisitions and growth to District Property Trust.
Scott McGillivray is an expert real estate investor who owns hundreds of properties across North America. He is CEO of McGillivray Group, a real estate developer. He is also the host and executive producer of HGTV’s award-winning series Income Property.
District Property Trust is a private real estate investment trust (District REIT) with an acquisition focus on growing communities in Ontario, Canada. It is closely affiliated with the Valour Group, which owns and/or manages $350 million of real estate assets.
Opportunity Zones have become topics of interest among institutional investors. The passage of the 2017 Tax Cuts and Jobs Act pushed through opportunity zones as potential long-term investments.
Masayoshi Son is reportedly “humbled” after SoftBank reported its first quarterly loss in over a decade. The CEO took hits from all directions after the fund reported an $8.9 billion hit to its Vision Fund. Simply put: WeWork is to blame for the loss.
In October, CEM Benchmarketing compiled a study for the National Association of Real Estate Investment Trusts (NAREIT).
The study is called “Asset Allocation and Fund Performance of Defined Benefit Pension Funds in the United States, 1998-2017.”
Brookfield Asset Management held its Investor Day recently. Management made a few things very clear.
First, if interest rates remain low, investors will have no alternative except alternative investments.