News

Landmark Links February 26th – Picked Over

Must Read: Warren Buffet is sitting on a massive pile of cash but has not found any large opportunities worthy of investment in the past three years.  At the same time, private equity investors have a record $2.1 trillion in private capital ready to deploy (as of June of 2018) and are bidding against each […]

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Landmark Links February 22nd – Grandstanding

Must Read:  Governor Gavin Newsom is putting California cities on notice for not complying with a state law that requires them to plan for the construction of affordable housing.  The ironic part of this is that there is often little that cities themselves can do without reforms to stop CEQA abuse which would need to happen […]

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Landmark Links February 19th – Unclear

Must Read: Despite multiple Treasury Department hearings (the latest of which was on Valentine’s Day) there is still a lack of clarity on Opportunity Zone regulations and the clock is ticking for potential investors to deploy capital. Economy Help Wanted: Job openings have posted another record high. Hitting a Wall: Retail sales in December 2018 were […]

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Landmark Links February 15th – Can’t Quit You

Must Read: Blackstone now has a real estate portfolio of $136 billion, larger than any REIT in the S&P 500.  The firm’s success, coupled with the fact that real estate has more deal flow and liquidity than buyouts – private equity’s traditional investment sector – has the firm’s competitors emulating it by raising ever-larger funds that are […]

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Landmark Links February 12th – Jumping to Conclusions

Must Read: Investors are jockeying for position in the Qualified Opportunity Zone space while still awaiting guidance from the Treasury Department as to how the program will actually work with regards to leverage, tax treatment of cash reserves and early exits.  While many more experienced operators are holding back until they get clarity, some novice real estate […]

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Landmark Links February 8th – All In

Must Read: Pension funds have increased their allocations for alternative assets – primarily hedge funds, private equity, commodities, and real estate – from 10% in 2001 to approximately 30% in 2016 in an effort to boost their returns.  It has not gone well. Economy Best of Times, Worst of Times: Tech is splitting the US […]

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Landmark Links February 5th – Size Matters

Lead Story:  Brookfield Asset Management has finished raising its largest-ever property fund at $15 billion.  The Wall Street Journal recently interviewed Brookfield’s CEO and he had this to say about actually deploying the mountain of cash: “You can’t put $15 billion to work $50 million at a time,” said Brian Kingston, Brookfield’s chief executive of Brookfield’s […]

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Landmark Links February 1st – Off Limits

Must Read: Billions of dollars are flowing into a corner of the tech industry focused on housing.  However, it has not yet been able to deal with the fundamental problem: affordability.   For all of its potential, technology can’t solve the inescapable fact that housing is incredibly expensive to build and that a lot of communities where […]

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