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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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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More Stories on Real Estate
CBL Properties Settles with Activist Investor
CBL Properties stock rallied nearly 10% this morning after it reached a settlement with Exeter Capital investors. The real estate giant has added Exeter president Michael Ashner and Carolyn Tiffany to its board of directors.
Preqin: Hospitality REITs Looked Strong in 2018
A new Preqin report is out.
Preqin joined asset manager Pro-invest Group to track the performance of the hospitality REIT industry. The result is a new study showing the sharp growth across the sector this decade.
Prologis and Liberty Property Trust Announce REIT Merger
Prologis and Liberty Property Trust announced a merger between the two firms. According to deal terms, Prologis will acquire Liberty $12.6 billion, including the assumption of debt. The board of directors of both REITs have approved the transaction.
Dominion Energy Transfers Stake in Cove Point to Brookfield Asset Management
Dominion Energy has entered an agreement with Brookfield Super-Core Infrastructure Partners. The latter is an infrastructure fund managed by Brookfield Asset Management (BAM).
Columbia Property Trust Will Buy Normandy Real Estate Management
Columbia Property Trust announced a deal to buy acquire Normandy Real Estate Management. The target company manages office- and mixed-use assets in New York, Boston, and Washington, D.C. The deal will see Columbia acquire Normandy’s operating platform. It will also purchase Normandy’s general partner interests in three active management funds.
Commercial Observer Releases List of Top Multifamily Markets
Commercial Observer is out with a new report from Arbor Realty Partners titled Top US Markets for Multifamily 2019. The report examines how multifamily markets have fared over the past year. It also explores high-demand markets moving forward.
Is a WeWork Bailout on Tap?
A WeWork bailout could be coming from JPMorgan or Softbank. Two weeks after the office-sharing giant pulled its IPO, its cash position has deteriorated. CNBC reports that the two banks are examining a plan to offer debt and equity to WeWork.
Hilton Grand Vacations Might Experience a Bidding War
Hilton Grand Vacations may soon experience a bidding war from two private equity titans. Apollo Management has reportedly made an offer for the Orlando0based timeshare company. Early reports suggest a price of $40 per share. Its competitor Blackstone may also make an offer for Hilton Grand Vacations.
Blackstone Sells Last Building from Famous 2007 Real Estate Deal
The Wall Street Journal says that Blackstone has sold the last office building it purchased in 2007. The building was part of their $39 billion purchase of Equity Office Properties Trust. That purchase was the largest real estate deal in history.
Nuveen Real Estate Buys 100 New Properties in 12 Markets
Nuveen Real Estate is one of the largest real estate investment firms in the world, and they keep getting bigger. As part of their continued expansion, they are moving aggressively into industrial real estate in the United States. Nuveen announced this week that they are acquiring a significant national logistics portfolio exceeding 100 properties across 12 markets.
Brookfield Business Partners to Sell Big Stake in North American Palladium
Brookfield Business Partners announced a plan to sell its 81% interest in North American Palladium. The real state giant is selling the Canadian mining company and only global pure-play palladium producer to Impala Platinum Holdings (Implats). The deal will see Implats buy all outstanding NAP stock from Brookfield for roughly $750 million.
Mall REITS Reeling after Forever 21 Bankruptcy
Forever 21 is just the latest retailer to file bankruptcy and announce a wave of store closings. The news will impact Real Estate Investment Trusts that own mall properties (Mall REITs).
Real Estate Economic Forecast is Rather “Meh” About Real Estate
The Real Estate Economic Forecast – authored by Urban Land institute – hit the street today.
It’s not as bad as we might have expected.
The survey offers a consensus forecast of 41 economists and analysts at 32 leading real estate organizations.
Blackstone Continues Real Estate Buying Spree
The Blackstone real estate buying spree continues. The private equity firm has continued its rapid deployment of funds into real estate with another purchase.
On Tuesday, the firm announced it would purchase a 65% controlling interest in Great Wolf Resorts.
Mapletree Commercial Buys Google’s HQ in Singapore
Mapletree Commercial Trust has purchased Google’s Asia Pacific headquarters in Singapore. The acquisition is part of an S$1.55 billion ($1.14 billion) deal for four buildings in Pasir Panjang.
Colony Capital Sells NorthStar Reality Europe
Colony Capital had a busy week. Not long after the firm announced the sale of Colony Industrial to Blackstone Group, the firm followed up on another deal.
Brookfield Asset Management Buys 61.2% of Oaktree Capital Management
Brookfield Asset Management has acquired 61.2% of Oaktree Capital Group. According to terms of the deal, Brookfield acquired all of the outstanding Oaktree class A units. It also acquired approximately 20% of the units of Oaktree Capital Group owned by the founders, senior management, and current and former Oaktree employees.
Blackstone Group Buys Colony Industrial for $5.9 Billion
Colony Industrial, the massive warehouse division of Colony Capital, now has a new owner. According to reports, Blackstone Group has purchased the warehouse group for $5.9 billion.
EquityMultiple: A Platform for Investors In Opportunity Zones
The EquityMultiple platform facilitates real estate investments in Opportunity Zones that come with tax breaks. Investors fed up with the measly returns in the current environment may consider real estate in Opportunity Zones. Qualified Opportunity Zones (QOZ) bring capital to low-income areas while rewarding investors via tax breaks. The investments can trigger economic development in these areas leading to higher employment.
CalPERS allocates more than $3 billion to real estate
CalPERS allocates more than $ 3 billion to real estate
The pension continues its core policy to invest in real estate assets using moderate leverage
The amount includes $ 30 million account the vexed Sacramento project with real estate firm CIM. That project, an office block in downtown Sacramento, is still in limbo. CalPERS last week scrapped its contract with CIM.
Liquidity Mismatch in the UK Direct Property Fund Sector: Could Woodford repeat?
“It is time for the FCA to act on illiquid assets,” says Bob Steers in an opinion published this week
The Woodford Equity Income Fund imbroglio might well repeat in the highly popular UK direct property fund sector, says Steers.
A sudden spike in redemptions, as was the case in the Woodford Income Fund, might well lead these open-ended funds to shut the gate on withdrawals pending the liquidation of properties, a typically longer-term asset. If the fund is selling into a weak market, the redemptions could come at a hefty loss for investors.
Dubai residential property is much cheaper than Hong Kong, London, and New York
On a global basis, Dubai real estate is relatively quite affordable
In an analysis of the city’s real estate market, Knight Frank has drawn an interesting comparison: in Dubai, $1 million will buy 143 sq m of residential space compared to 16 sq m in Monaco, 22 sq m in Hong Kong, and 31 sq m in both London and New York.
That’s quite a difference when you consider its strategic location and quality of life and safety rankings.
Blackrock to raise $300 million in new realty fund targeting Asia
Blackrock Real Estate, an arm of BlackRock, the private equity giant, is raising money for its fifth Asia-focused real estate fund
According to sources, BlackRock already has commitments in the range of $300 million and $350 million for this fifth fund.
The previous fund in the series, the value-add Asia Property Fund IV, raised $500 million when it closed in November 2017.
What does Ken Griffin know about uber-luxe real estate that we don’t?
The billionaire, hedge fund manager, paid nearly $100 million for a Palm Beach property next to one he already owned
Ken Griffin is the US titleholder for owning the most expensive home in the country. He has a penchant for acquiring the most costly and luxurious properties in the priciest cities across the globe.