CMBS Market Looks Strong in 2015
February 27, 2015 — A year ago, CMBS market experts projected that issuance would be close to $100 billion in 2014, and despite some pauses in activity during the year, the prognosticators got it right. Issuance reached a post-recession high mark with $95 billion of new product, up from $83 billion in 2013.
Look at Office Space Demand Before You Leap for Joy at the Market’s Strength
February 19, 2015 — The office market had a banner year in 2014, with declining vacancy rates, rising rents, high prices paid by investors and the highest net absorption since 2007. New development, some of it speculative, has started up in many markets. In its third-quarter analysis, CoStar noted that the office sector was “moving into the sweet spot” for investors and asked: “Is this as good as it gets?”
REIMs May Cool to Euro Investors as AIFMD Takes Effect
February 2, 2015 — An unprecedented amount of foreign capital is focused on U.S. real estate markets, and it’s coming from every region of the world. People are paying the most attention to money from countries with no strong history of heavy investment, such as China, Korea and Middle Eastern countries. Also high on the list are Canada and Australia, two countries where investors have been active in the U.S. for many years.
A Look Back at 2014 and Forward to 2015: Enjoy the Good Times While They Last
December 22, 2014 — This is the season when many of us reflect back on the past year and consider what the next 12 months may bring to our market, our companies and our clients. This year, taking stock is a mostly pleasant experience, since 2014 was a stellar year for investors and their advisors, and there’s no obvious reason why the good times shouldn’t extend through 2015.
Transparency May Be a Challenge, But Investor Trust Is a Worthy Goal
November 20, 2014 — Real estate investment managers are under pressure to disclose fees and expenses to investors in greater detail than ever before. Transparency is good for our industry. But how much disclosure is enough—and how much is too much—in a sector with extremely active asset management and a history of long-term relationships between investors and managers?