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10 Must Reads for the CRE Industry Today (November 22, 2016)

10 Must Reads for the CRE Industry Today (November 22, 2016)


  1. 100% Probability of a December Hike, Fed Funds Futures Contracts Show “The Federal Reserve is definitely lifting interest rates next month — if the market has priced a key contract correctly. According to the trading of federal funds futures contracts, there’s a 100% chance — actually, a 100.2% chance — that the Fed will lift interest rates to a range between a half-point and three-quarters of a point, up from the current 25 to 50 basis points range. (The extra 0.2% implies there’s a very small chance the Fed could be even more aggressive.)” (MarketWatch)
  2. Why It Won’t Be Easy for Donald Trump to Repeal Dodd-Frank “Like a number of his other grandiose campaign promises, Donald Trump likely will find that peeling apart Dodd-Frank gradually will be easier than tearing it asunder. The president-elect pledged during the campaign to repeal the bank reforms that came about after the 2008 financial crisis, though it may be a stretch to call the promise a "cornerstone" of the potent populism on which the Republican won the presidency.” (CNBC)
  3. What 40 Wall St. Tells Us About the Man Who Will Soon Be Overseeing Financial Regulatory Agencies ‘It’s entirely fitting that the actor playing Aaron Burr in “Hamilton” issued a polite but firm public plea to Vice-President-elect Mike Pence about protecting the rights of minorities in a dynamic, diverse nation. The concerns about inclusion were gracefully offered and accepted — ‘that’s what freedom sounds like,’ Pence said later. But that wasn’t the most intriguing part of the exchange. The most delicious historical detail is that the real Aaron Burr was a co-founder of a company at the site of what is now 40 Wall St. (aka the Trump Building), which happens to rank among the most profitable — and problematic — real estate holdings of the President-elect.” (New York Daily News)
  4. Ohio BWC Redeeming TIAA-CREF Investment Over Real Estate Fund’s Restructuring “Ohio Bureau of Workers' Compensation, Columbus, is fully redeeming its investment in the TIAA-CREF Core Property Fund, spokesman Tony Gottschlich said in an e-mail. The bureau, which oversees $25.3 billion in state insurance fund assets, redeemed its $69 million in the open-end commingled core real estate fund primarily due to the ‘complicated restructuring of the fund made by TIAA-CREF,’ Mr. Gottschlich said. TH Real Estate, TIAA-CREF's real estate division, announced in September it would be transforming the $2 billion Core Property Fund into the U.S. Cities Fund series consisting of four open-end sector funds and one open-end diversified fund.” (Pensions & Investments)
  5. CNBC Does the Deed, Sets Primetime Real Estate Investment Series for March “CNBC is adding some real estate to its primetime lineup. The NBCUniversal-owned business network today announced The Deed, an eight-episode original series that looks at how fortunes really are made in the unpredictable and cutthroat world of real estate flipping and development. Slated to premiere March 1, the Cineflix-produced series features Sidney Torres and Sean Conlon, two savvy multimillionaire real estate moguls who have done more than half a billion dollars in property deals between them.” (Deadline)
  6. Why Combining Real Estate Expertise with Financial Planning is a Winning Combination “Although my articles usually focus on business leadership and entrepreneurship, my experience in corporate America prior to joining the Navy SEAL teams and the master’s degree following my service are all in real estate finance, investment and development. As an entrepreneur and business owner, I also find it prudent to also stay apprised of the best ways to make your money work for you. It is human nature to want to be right, particularly when it is your job to be the expert. That is one reason why financial planners can be quick to minimize the role of real estate assets in a client’s portfolio.” (Forbes)
  7. ING Provides Financing for Olayan NYC Asset—Again “There’s something about Olayan America. Acting as administrative agent, ING Capital LL recently headed-up the refinancing of a $570 million senior mortgage loan collateralized by 550 Madison Ave., an 852,000-square-foot, mixed-use Manhattan office building owned by Olayan. The transaction marks the second time in five months that ING has come through with financing for the Americas investment arm of Saudi Arabia-based Olayan Group.” (Commercial Property Executive)
  8. Fames Plaza District Fades as Manhattan Office Landscape Shifts “Lower leasing costs, more efficient office space and the hope of projecting an image more appealing to millennials are leading hedge funds and large corporations to leave Manhattan's most-coveted business district for a rejuvenated Downtown and the trendy far West Side. The construction of gigantic new office buildings that allow tenants to use 20 percent less space is pressuring prices and driving firms like consultants BCG and law firm WilmerHale out of the tony Plaza District in Midtown Manhattan.” (Reuters)
  9. Report: Popular Online Brand to Open Brick-and-Mortar Stores “The online retailer credited with disrupting the mattress category may be moving into the physical space. Casper, which delivers its mattresses folded in a box, has plans to open a fleet of physical stores, according to help wanted ads placed on its website, according to the New York Post. The company is hiring a director of retail to ‘build, launch our retail store fleet,’ a director of wholesale and a hospitality partnership manager, among two dozen other positions around the world, according to help wanted ads posted on a job site, the report said.” (Chain Store Age)
  10. Highland Pellet Opens New Plant Near Little Rock “Highland Pellets has opened a new, $229 million wood-pellet facility in Pine Bluff, Ark. The plant is slated to produce 600,000 metric tons per year of wood pellets, a feedstock favored by European industrial utilities to lower their carbon footprints while providing sustainable base load power. The wood used to make the pellets will be sustainably harvested, which will reduce dependence on coal-burning power plants. Arkansas has more than 18.8 million acres of forest land, covering more than half of the state.” (Commercial Property Executive)
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