Hallandale Beach

10 Must Reads for the CRE Industry Today (February 13, 2019)

Bloomberg examined how other private equity players are looking to emulate the success Blackstone has experienced with its real estate investments. The Commercial Observer spoke with Related Group’s Jorge Pérez. And the WSJ profiled a burgeoning beach town in Florida. These are among today’s must reads from around the commercial real estate industry.

  1. Private Equity Likes the Look of Blackstone’s Real Estate Model “Perhaps that’s why other PE powerhouses are eager to get into real estate. Carlyle last year closed on a $5.5 billion fund that will expand its real estate business by 50 percent. In October, a KKR-led group paid $1.9 billion for a property in Seoul that will eventually include offices, shops, and a 263-room five-star hotel. Private equity companies as a group have more than $900 billion in real estate investments, according to Preqin.” (Bloomberg)
  2. Related Group’s Jorge Pérez Talks Real Estate, Lawsuits and Donald Trump “Outside of work, Jorge Pérez collects art and hobnobs with the upper echelon of society including the Trumps and the Clintons. (‘[Donald] Trump was a very good friend,’ the Argentine-born developer told Commercial Observer last month. ‘We talked every two weeks. You know we’ve done several Trump buildings—I think five or six towers—and we were friends. I saw him once a month.’) But Pérez’s friendship with Trump took a hit when he became president.” (Commercial Observer)
  3. This Once-Scruffy Beach Town Is South Florida’s New Real Estate Hot Spot “Little known, slightly checkered Hallandale Beach is being billed as South Florida’s next oceanfront real estate hot spot. With waterside land scarce in Miami proper, developers are looking north to this small municipality, which is halfway between Miami Beach and Fort Lauderdale and has easy access to both their airports.” (The Wall Street Journal)
  4. 6 key components of the store of the future “Executives focusing on store design, real estate, technology and employee education programs convened to talk about what the future of stores will mean for them, their employees and, of course, customers. Here are some of the most illuminating quotes from the conference and what you can expect from leaders in brick-and-mortar experiences in the coming year.” (RetailDive)
  5. Stabilizing a Global Financial Institution in an Age of Uncertainty “Today, Barclays is in a very different place, thanks in no small part to Staley’s leadership. In a few short years, the bank has recapitalized, undergone a huge restructuring—including the financial separation of the consumer and small-business banking in the United Kingdom from its investment banking—and confronted the impact of Brexit, among many other challenges.” (Urban Land)
  6. A $23 bn manager is betting on India's struggling real estate sector “A Bahrain-based investment manager wants to fill a vacuum in lending to Indian property developers that have $18 billion of debt to repay, aiming to capitalise on a credit crunch that’s narrowed their borrowing options.” (Business Standard)
  7. West Coast real estate is now so expensive that married couples are moving in with multiple roommates “In Honolulu and Orange Country, Calif., the share of married couples with roommates is between four and five times the national rate. San Francisco, Los Angeles, San Diego and Seattle also have sky high rates of married couples with roomies. Those same cities all have well above average rental and housing costs (Trulia notes that housing costs in all these markets have risen more than 30% since 2009), with residents of uber-pricey San Francisco requiring more than $123,000 in income to live comfortably, one study showed.” (Marketwatch)
  8. CBRE Signs On To Reonomy’s CRE Platform “The company states it has data on commercial property across the US—over 50 million commercial assets. Their technology collects data from public source such as tax assessors, municipalities, and third-party data partners including credit rating agencies and title companies.” (GlobeSt.com)
  9. Amazon Slashed Prices at Whole Foods. Now They’re Climbing Back Up. “Whole Foods said in the December email that suppliers were charging more for those products due to inflation. The separate price increases this month followed the expiration of annual contracts to sell about 700 goods at low prices, Whole Foods said. Those contracts won’t be renewed, the chain said, and the increases add up to hundreds of thousands of dollars a week in additional revenue.” (The Wall Street Journal)
  10. Marijuana advocates push for changes to Cuomo bill “Members of a coalition that includes the Drug Policy Alliance and Empire State NORML, the New York chapter of the National Organization for the Reform of Marijuana Laws, traveled to Albany as part of the annual ritual of lobbying for changes in legislation included in the governor's budget. The coalition wants to see a strengthening of criminal and social justice provisions in the bill, including more money going to communities that suffered from the War on Drugs and more support for ‘small businesses and farmers over large corporations,’ the group said.” (Crain’s New York Business)
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