News

Landmark Links November 26th – Pay Up

Must Read: New federal regulations that took effect last week will nearly double the minimum dollar amount for foreign visa-seekers through the EB-5 program from $500k – $900k in addition to several other more stringent requirements.  This, coupled with weak demand from Chinese investors will likely result in substantially less utilization of the program in […]

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Landmark Links November 22nd – Piling On

Lead Story: Billionaire investor Carl Icahn has made a big bet against mall owners by buying credit default swaps based on the CMBX 6 index that has substantial exposure to mall debt.  Icahn has a pretty incredible track record – thus the title self-made billionaire.  However, there is a catch: while the macro thesis of the destruction […]

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Landmark Links November 19th – Waiting for the Pop

Must Read: Pop up stores are taking up some of the slack left by vacating traditional retailers and could end up being a viable replacement.  However, executing a pop up strategy requires a lot more management and a lot less certainty of cash flow.  See Also: There are signs that the bearishness in the retail sector […]

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Landmark Links November 15th – Deceptively Weak

Must Read: Looking simply at demographics, one might think that senior housing would be a major growth play in the US for many years.  However, the aging-in-place trend and major affordability issues make it very difficult to pin down demand.  See Also: Boomers want to stay home and technology is allowing them to do it.  […]

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Landmark Links November 12th – Hiding in Plain Sight

Must Read: Apple is the latest tech giant to commit billions in funding to counter California’s housing crisis.  However, what these investments fundamentally miss is that the problem holding housing back is not a lack of money but rather a lack of political will.  Perhaps the money would be better spent pushing political initiatives that would […]

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Landmark Links November 8th – WeBail

Must Read: SoftBank’s WeWork strategy consists mainly of holding on to top locations and shut down others. This is likely to leave a lot of landlords – many of which provided incentives like free rent and significant TI allowances – who leased to an SPE without a corporate guarantee from WeWork’s parent company out in […]

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Landmark Links November 5th – Anchored

Must Read: We often hear statistics about home supply expressed in months of inventory.  However, that statistic looks a whole lot worse – and perhaps a lot more telling when taking population into account.  Adjusted for population, the inventory of homes for sale is now near the lowest level in 37 years of record-keeping, according […]

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Landmark Links November 1st – Supermarket Sweep

Must Read:  This quote from the Wall Street Journal about how crazy shopping Whole Foods has become since getting purchased by Amazon perfectly encapsulates the bull case for cold storage buildings: Whole Foods Market, once a paragon of leisurely high-end shopping, has become a battleground where well-heeled shoppers fight for elbow room and choice salmon cuts […]

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