News

Industry news.

2360 results - showing 1 - 15  
« 1 2 3 4 5 ... »  
Ordering 
 
Newly Nimble Family Offices Snag Deals Away From Private Equity
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 21, 2017   0   0   0   0   0   0
(Bloomberg)—Michael Gottdenker glimpsed the future over a bowl of pasta earlier this year, and he liked what he saw. The chief executive officer of Hargray Communications, a telecommunications company servicing South Carolina and Georgia, was having lunch with billionaire Jim Davis, founder of family office Redwood Capital Investments, and his adviser David Watson. Over the previous week, the two had taken a liking to Gottdenker’s company. “I didn’t think that family offices would make direct investments,” Gottdenker says reflectively, “or if they did, I thought that it would be a lot of work to get their interest.” And yet, between bites of Italian food at a restaurant in Columbia, Md., he came to realize that he could be speaking with the new owner of Hargray, a business that he had helped turn into a half-a-billion-dollar company. He shared the story of an employee who had worked her way up the business—all the way from the company’s call center to management. Gottdenker’s story, which highlighted the potential he saw in employees, seemed to resonate with Davis, who’d made his fortune as the co-founder of a staffing and recruitment company. And so, not long after the coffees disappeared, Davis told his would-be partners—two other family offices vying to buy Hargray—that he wanted in on their deal to acquire the company. There were other potential suitors waiting in the wings. In order to succeed, Davis and his partners would need to beat private equity, not to mention other strategic acquirers, at their own game. ...
Four Takeaways from the First National Women in Real Estate Symposium
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 21, 2017   7   0   0   0   0   0
Real estate is often characterized as a male-dominated industry, especially at the executive level. The First National Women in Real Estate Symposium, hosted by New York University’s Schack Institute of Real Estate on Oct. 20, took a step toward changing that. The day-long symposium in New York City tackled a range of industry topics—from the future of cities to multifamily sector outlooks—and featured all-female panels of real estate leaders and experts. Here are fouor takeaways from the event that address the role of women in the industry and ways to make it more diverse[1]. Most women in real estate think it is harder to raise capital. Fifty-eight percent of women who work in the industry believe that it is more difficult for women-led funds to obtain capital than their male counterparts, according to a recent report on women in investing by KPMG and NYU[2], which was presented at the symposium by Yesenia Scheker-Izquierdo, a partner at KPMG. Women lead 6 percent of real-estate funds represented in the survey, and 14 percent of the women surveyed were CEOs, according to the study. The key to diverse boards is authenticity. It usually is not a positive situation when a board contacts Ferguson Partners, which provides expert recruitment services to several industries, including real estate, looking to add a woman to their board of directors just because of her gender, says Radhika Papandreou, co-head of the global hospitality practice at the firm. This will lead a prospective board member to question if she is...
10 Must Reads for the CRE Industry Today (October 20, 2017) | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 21, 2017   6   0   0   0   0   0
10 Must Reads for the CRE Industry Today (October 19, 2017) Oct 19, 2017 10 Must Reads for the CRE Industry Today (October 18, 2017) Oct 18, 2017 10 Must Reads for the CRE Industry Today (October 17, 2017) Oct 17, 2017 10 Must Reads for the CRE Industry Today (October 16, 2017) Oct 16, 2017
Yellen Is Said to Be at White House for Routine Cohn Meeting | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 21, 2017   6   0   0   0   0   0
(Bloomberg)—Federal Reserve Chair Janet Yellen was back at the White House Friday for a routine meeting with economic adviser Gary Cohn, a U.S. official said, a day after President Donald Trump interviewed her for a potential reappointment to her job. Cohn, director of the National Economic Council, is also a contender for the Fed post. The official, who spoke on condition of anonymity, said Yellen’s meeting with him was a regular semi-annual session. Trump has said he’s considering five candidates for Fed chairman and that he’ll make a decision soon. Yellen’s first term ends in February. The other contenders include Stanford University economist John Taylor, Fed governor Jerome Powell and former Fed governor Kevin Warsh. Ten-year U.S. Treasury prices gained on news that Yellen was spotted at the White House, lowering yields to 2.37 percent on investor expectations that the visit improved Yellen’s chances of a second term, which would keep the central bank on its path of gradual interest-rate increases. To contact the reporter on this story: Jennifer Jacobs in Washington at [email protected] To contact the editor responsible for this story: Alex Wayne at [email protected][1][2] COPYRIGHT © 2017 Bloomberg L.P References ^ [email protected] (www.nreionline.com) ^ [email protected] (www.nreionline.com)
News Canadian Real Estate Magazine   October 20, 2017   0   0   0   0   0   0
A new report from commercial real estate firm CBRE stated that Edmonton’s office vacancy rates fell for the first time ever in half a decade, down to 19.7% in summer 2017 from 19.9% in the previous quarter. The last decline prior to this was in summer 2012, when the rate decreased to 9.3% from 9.9%. CBRE noted that the development stemmed from activity in the downtown core, where the summer vacancy rate fell to 20.3% from 20.6%, the first in the area since spring 2015. However, while the region is expected to enjoy the second-fastest economic growth in Canada this year, the CBRE report cautioned that this state might not last. “Though economic conditions continue to improve, in August the Alberta government announced its intent to adjust future spending plans, as revenues in the first quarter were less than what was forecasted in the 2017/2018 budget,” the report stated, as quoted by Postmedia. “Uncertainty in government spending has the potential to alter leasing activity in the short term.” Earlier this week, The Conference Board of Canada also projected a 3.9% increase in Edmonton’s GDP this year as a result of higher oil valuation along with increased investment and drilling plans.Growth has been forecast to be slower (2.2%) in 2018 because of impending
News Canadian Real Estate Magazine   October 20, 2017   0   0   0   0   0   0
The newest set of mortgage restrictions announced by the Office of the Superintendent of Financial Institutions (OSFI) will hit home buyers looking to upgrade to new properties the hardest, according to BMO financial group chief economist Doug Porter. OSFI’s latest rules state that even home buyers who don’t require mortgage insurance because they have a 20% down payment will have to prove they can make meet their commitment if interest rates rise above the five-year benchmark rate published by the Bank of Canada or 2% higher than their contracted mortgage rate, whichever is higher. Move-up buyers would be disproportionately impacted because they would be most likely to have home equity and qualify for an uninsured mortgage, Porter explained. The economist noted that last year’s restrictions took 5% to 10% out of the housing market’s buying power, and that OSFI’s latest changes will have a comparable effect. The guidelines, similar to OSFI’s draft release in July, are scheduled to take effect on January 1, 2018. “This is potentially more wide ranging and it will dampen the housing market in 2018, probably more significantly than we saw (with) the earlier federal measures,” Porter told the Toronto Star. However, he emphasized that the changes are “another reason to believe the [Bank of Canada]
News Canadian Real Estate Magazine   October 20, 2017   0   0   0   0   0   0
While rent-to-own purchases are becoming more popular, it’s important to know who you’re dealing with, and to balance the risks and rewards. According to Bob Aaron, a real estate lawyer with Aaron &Aaron, rent-to-owns typically surge in popularity during market downturns, and they’re also one of the few options people with bad credit have available to them.However, Aaron also says that it’s his preference to advise clients against entering such arrangements. One way in which buyers get short-shrifted is by paying above-market rental prices than they would for a similar house, which, if the buyer chooses not to purchase the home, cannot be recovered. “Rent-to-own helps when the seller can’t sell and when buyers can’t get approved for mortgages, but the way it often works is the seller gets the lump sum from the buyer/tenant which is used to underwrite the down payment,” said Aaron.“So if the buyer decides not to close, or can’t close, or can’t get a mortgage, all that money they paid up front and along the way is down the drain.” He also says another problem with rent-to-owns is there aren’t any industry standard forms. The buyer/tenant isn’t the only party at risk, though. “A defaulting owner can stick the landlord-/investor with all kinds of arrears, mortgage taxes, utilities,
What Do NAFTA Negotiations Mean for Industrial Real Estate? | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 20, 2017   7   0   0   0   0   0
President Donald Trump recently called the North American Trade Agreement (NAFTA) the "worst trade deal in history” and said he would renegotiate or dissolve it. He also discussed the possibility of slapping a 35 percent tariff on Mexican-made products imported to the United States. These remarks were made during Canadian Prime Minister Justin Trudeau’s visit and as the fourth round of NAFTA talks got underway. Trump contends that the U.S. and Canada will be fine without NAFTA, and has indicated he would pursue a separate trade deal with either Canada or Mexico if his administration couldn't reach a deal with both nations. NAFTA essentially eliminated tariffs on products moving between the U.S., Canada and Mexico. Since it became law in 1994, the economies and logistics/supply chain of NAFTA nations have become interconnected, and interdependent, notes Jason Tolliver, vice president and expert in industrial real estate with real estate services firm Cushman & Wakefield. The complexity of these supply chains makes it virtually impossible to dissolve NAFTA without a tremendous drag on the economies of all three nations, he adds. NAFTA logistics activity has generated tremendous capital investment in U.S. industrial real estate over the last 20 years, especially along logistics/supply chain corridors and demand for space should continue to grow, Tolliver adds. But he notes that uncertainty is beginning to impede investment in this sector, as well as economic growth, which is why it’s important to get clarity on NAFTA. David Bitner, Cushman & Wakefield’s senior researcher with the...
10 Must Reads for the CRE Industry Today (October 19, 2017) | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 19, 2017   8   0   0   0   0   0
10 Must Reads for the CRE Industry Today (October 18, 2017) Oct 18, 2017 10 Must Reads for the CRE Industry Today (October 17, 2017) Oct 17, 2017 10 Must Reads for the CRE Industry Today (October 16, 2017) Oct 16, 2017 10 Must Reads for the CRE Industry Today (October 13, 2017) Oct 13, 2017
Blackstone Profit Tops Estimates as Real Estate Drives Gains | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 19, 2017   6   0   0   0   0   0
(Bloomberg)—Real estate continues to fuel gains for Blackstone Group LP, which reported a jump in third-quarter profit that exceeded all analysts’ estimates. Economic net income, a measure of earnings that reflects both realized and unrealized investment gains, was $834.3 million, or 69 cents a share, compared with $687 million a year earlier, New York-based Blackstone said in a statement Thursday. Analysts were expecting 54 cents a share on average and 61 cents at most, according to 13 estimates compiled by Bloomberg. Gains were widespread. Blackstone’s opportunistic real estate portfolio appreciated 5.5 percent during the three months ended Sept. 30, exceeding the 4 percent rise in the S&P 500 index of large U.S. companies. Drivers included the firm’s investments in Invitation Homes Inc. and Hilton Worldwide Holdings Inc. Blackstone’s credit funds also posted gains across performing and distressed debt strategies, as did the firm’s hedge funds. Shares of Blackstone, led by Chief Executive Officer Steve Schwarzman, rose 1.3 percent to $33.94 in pre-market trading Thursday. The stock has gained 31 percent, including reinvested dividends, this year. Blackstone’s private equity portfolio gained by 3.3 percent. Analysts, who rely on moves in public holdings to help predict firm profits, have little clarity on changes in value of private assets that haven’t been sold or taken public. Part of the upside surprise came from strength in Blackstone’s private buyout holdings, which more than offset a slide in the value of its public portfolio. Publicly traded private equity firms must mark their...
Target to Remodel More Stores as It Pushes Into City Centers | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 19, 2017   7   0   0   0   0   0
(Bloomberg)—Target Corp. is stepping up its plan to remodel stores and push into more city centers, a bid to regain its cachet and fend off incursions by Wal-Mart Stores Inc. and Amazon.com Inc. The retailer now plans to revamp more than 1,000 locations by the end of 2020, part of a sweeping overhaul of its operations. The Minneapolis-based company had previously said it was remodeling 600 stores by 2019. The strategy includes opening dozens of smaller stores in places like New York, Los Angeles, Chicago and Philadelphia -- and pairing those locations with web-friendly services like same-day delivery. On Thursday, Chief Executive Officer Brian Cornell helped unveil a store in Manhattan’s Herald Square, its eighth in the Big Apple, not far from the Macy’s Inc. flagship. “Guests are rewarding us with more traffic and we’re driving increased sales,” said Cornell, a New York native, said at the event. “It’s given us confidence to move forward aggressively.” Target is opening 11 small-format stores this week to bring its total to 55, and it plans to have 130 nationwide by the end of 2019. The company also is rolling out its Restock program across the U.S. next year. That service lets customers have essentials like toothpaste delivered the next day, for a fee. Also coming next month is a new store brand: Hearth & Hand, a range of home-decor items designed in collaboration with Chip and Joanna Gaines, stars of the home-improvement reality show “Fixer Upper.” The Herald Square...
General Liability Insurance Exclusions Are Worth a Close Examination
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 19, 2017   9   0   0   0   0   0
When purchasing or renewing commercial general liability (CGL) policies there is often talk about “what is covered.” But the moral of this article is that it can be more important to discuss “what is not covered.” And by this I am referring to policy exclusions. Exclusions play a critical role in every CGL policy. When coverage is denied, it is more often than not due to an exclusion. Yet too often I find that the policy holder is unaware of the exclusion prior to the denial. I believe this calls for a shift in focus. The reason exclusions play such an important role is relatively simple. All CGL policies begin with essentially the same concept: that the insurance carrier will defend and indemnify the policy holder if he/she/it becomes legally liable for bodily injury or property damages. Because this concept affords broad coverage for a wide variety of claims, the policies typically have multiple exclusions. By carving a much narrower scope of coverage, these exclusions define the true extent of the policy.  Indeed, it is impossible to determine whether a claim is covered without proper examination of the exclusions. For this reason they deserve a significant amount of attention. To illustrate the importance of this principle, I will discuss one exclusion that has particular relevance for those in the real estate development industry: the sunset clause. The sunset clause is a clause providing that insurance coverage will cease after a specified point in time. In and of itself this...
What Will Be the Impact of Retail Landlords Taking Off Black Friday?
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 19, 2017   10   0   0   0   0   0
By now, the list of retailers that have vowed to close up shop on Thanksgiving Day is no less than 75[1]. One major landlord, CBL & Associates Properties Inc., also announced that its retail properties will go dark in the run up to Black Friday, accounting for about 62 centers. This is the second consecutive year that CBL has decided to close its malls on Thanksgiving Day, a decision that officials said was prompted in part by negative feedback from consumers and employees. “We employ about 100,000 people at the malls, including the employees of retailers, security and maintenance,” says Stephen Lebovitz, CBL’s president and CEO. “There are a significant number of people who can spend the day with families.” The decision to close stores does not mean landlords and retailers will starve their companies’ bottom lines while indulging in traditional holiday feasting. The National Retail Federation (NRF) expects 2017 holiday sales[2] in November and December to increase between 3.6 percent and 4.0 percent for total sales of $678.75 billion to $682 billion. That haul excludes sales at restaurants, as well as gasoline and automobile sales. As for Thanksgiving spending, the NRF estimates that in 2014—the most recent year for which that particular data is available—the three-year rolling average was $404, lower than the estimated three-year rolling average amount spent in 2013, $410. Over Thanksgiving weekend Black Friday remained the most popular day for shopping, as 65 percent of spending occurred on that day in 2014. Thanksgiving...
What the new mortgage rules mean for the lending market | Financial Post
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 18, 2017   12   0   0   0   0   0
Borrowers who don’t meet the lending criteria of Canada’s big banks for home loans may turn to credit unions and private lenders under tougher mortgage rules released by the country’s banking regulator, according to RBC Capital Markets. While the final rules have a “very minor negative impact” to large Canadian banks, the changes are more negative for non-prime lenders such as Home Capital Group Inc. and Equitable Group Inc. due to the stress tests and ban on bundling of mortgages, RBS analysts Darko Mihelic and Geoffrey Kwan wrote in a note to clients. The Office of the Superintendent of Financial Institutions released final rules targeting borrowers in the uninsured mortgage market, making it more difficult for those with more than a 20 per cent downpayment to qualify for home loans. The measures, known as B-20 guidelines, require lenders to test a borrower’s ability to pay at the greater of the Bank of Canada’s five-year benchmark rate or 2 percentage points higher than the offered mortgage rate starting in January. “This is likely to lead to a significant number of non-prime borrowers to either defer purchasing a home or seek out a mortgage from lenders such as credit unions/caisse populaires” and, failing that, a mortgage investment corporation or private lender, the RBC analysts wrote. Alternative lenders fell in Toronto trading, with Equitable falling 1.6 per cent and Home Capital declining 2.3 per cent at 12:58 p.m. trading. Canada’s eight-company S&P/TSX Commercial Banks index rose 0.3 per cent. Dampen...
Private Equity Looks to Challenge Airbnb With Vacasa Deal | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 18, 2017   12   0   0   0   0   0
(Bloomberg)—Vacasa LLC, an online vacation rental company, raised $104 million from a group of private equity firms looking to build up a challenger to Airbnb. The Portland, Oregon-based startup said it received funding from Riverwood Capital, Level Equity, NewSpring Capital and other backers. The investment, led by Riverwood, nearly doubled the startup’s valuation from the previous round, said two people familiar with the deal. The company declined to disclose the valuation. Investors were eager to put money into a business that could become a stronger competitor to Airbnb and then perhaps one day be an acquisition target, said one of the people, who asked not to be identified because the process is private. Airbnb Inc., Expedia Inc. and Priceline Group Inc. have been buying up home-rental startups in the last year or so. The high-end rental business is a key growth area for the travel industry. Companies are seeking to boost profits by targeting wealthy travelers. In February, Airbnb purchased Luxury Retreats, which offers tools similar to Vacasa for managing vacation properties remotely. Vacasa’s website lets homeowners rent and promote their homes, and connects them with maintenance and cleaning services. Customers can book those properties through the site. The company was founded in 2009 but hadn’t sought capital from investors until recently. Vacasa secured its first round of funding last year, about $40 million. The company has grown quietly across the U.S. and abroad, and its smaller size helps the startup avoid much of the regulatory scrutiny that plagues...
2360 results - showing 1 - 15  
« 1 2 3 4 5 ... »  
Results per page:  
How Capital Stack Dynamics Contribute to Multifamily Sector Challenges
The apartments sector has undoubtedly taken a...
 
0.0
 
0.0 (0)
Commercial Property Prices Move Sideways
The commercial real estate industry is experiencing...
 
0.0
 
0.0 (0)
Best Places to Buy Single-Family Rentals
It’s a tough time to buy single-family...
 
0.0
 
0.0 (0)
Rich Chinese Race to Fund Kushner Tower, Other Luxe Projects
(Bloomberg)—As members of Congress in Washington debate...
 
0.0
 
0.0 (0)
Soaring House Prices Could Mean A New Kind Of Aristocracy: Economists
If you’re at an age when you...
 
0.0
 
0.0 (0)
GTA has record year
Category: News
Red hot housing market sees record condo sales in...
Category: News
Looking to make major capital gains?You may want to...
Category: News
The markets to target and avoid, according to one...
A significant housing development proposal in one Ontario town...
 
0.0
 
0.0 (0)
Explosion of Fintech Firms Raises New Regulatory Questions
Regulators are scrambling to catch up with...
 
0.0
 
0.0 (0)