News

Landmark Links July 30th – Here We Go Again

Must Read Much of the boom in the bridge lending market has been fueled by demand for CLOs or collateralized loan obligations.  These securities are backed by real estate loans with higher risk profiles (think re-positioning and bridge on unstabilized properties) than what would be allowed in a CMBS pool, while offering higher returns to investors.  […]

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Landmark Links July 26th – Competitive Advantage

Must Read: Life Insurers’ market share in the commercial real estate lending space is soaring among intense competition thanks to their greater willingness to offer full-term interest only loans and take more risks than their stodgy reputation would indicate. Economy Stalled Out: Inflation expectations continue on their downward trajectory. Less Than Zero: Yield curves are inverted […]

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Landmark Links July 23rd – Bro Down

Must Read: The Wall Street Journal ran a story last week about how WeWork co-founder and largest shareholder Adam Neumann has cashed out more than $700MM from the company ahead of its IPO.  This is incredibly unusual behavior by a CEO/founder, even in the high-flying unicorn era.  The history of CEOs cashing out big before […]

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Landmark Links July 19th – Trouble Ahead?

Must Read: The Architectural Billings index has historically been a leading indicator for commercial real estate development and its not looking pretty at the moment.  Billings have been declining for flat for the last five months, the new design contracts score has hit a 10-month low, and the project inquiries score has hit a 10-year low. […]

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Landmark Links July 16th – It’s a Sign?

Must Read: Falling mortgage rates haven’t had a major impact on the housing market yet in 2019.  However, listing trends in more affordable price ranges indicate that inventory could get very tight later this year if/when buyers begin responding to lower rates. Economy Unsolved Mystery: The trade off between jobs and inflation – known as the […]

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Landmark Links July 12th – Over-Accessorized

Must Read: Rents are rising across the country in the office sector but the cost of tenant improvements are rising much faster and landlords are increasing scope in an effort to out-amenitize their competition. For now, the result is declining landlord margins.  However, things could get much uglier when the next downturn hits and landlords […]

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Landmark Links July 9th – Flippin’ Bold

Must Read: The inside story of how Rich Barton returned to Zillow as CEO and is attempting a major pivot to turn the company into an online house-flipping machine. Economy Worse Than It Appears: Despite strong headline jobs data, wage growth has been weak and other economic indicators are soft.  The reason is that underemployment is […]

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Landmark Links July 2nd – Boom

Quick Programming Note: This will be the only post for the week of July 4th since I have better things to do than write a blog on the 4th and you have better things to do than read one on the day after our nation’s birthday.  Enjoy the holiday with your family and friends and we’ll […]

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