News

Landmark Links January 31 – Awash in Liquidity

Must Read: Institutional Investor went in hard on private credit this week, comparing it to Fentanyl.  IMO, this was the most interesting passage: “Lending practices continue to deteriorate until credit losses cause lenders to pull back. When banks provided most of the debt, pullbacks happened only if banks tightened their lending standards. In a world where […]

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Landmark Links January 31st – Off the Pace

Must Read: Residential housing investment as a percentage of GDP is still way off prior peaks – and barely above prior lows – going back to at least the 1970s. Economy Same As It Ever Was: The economy has been in growth mode for a decade now.  However, that does not mean that the relationship between […]

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Landmark Links January 24th – Opposites Attract

Must Read: Technology executives have fallen in love with old industrial loft buildings that are versatile, provide more space and character for less cost than cookie-cutter office towers, and better reflect their collaborative work culture. Economy Stuck In Place: Mobility in the United States continues to fall.  This does not bode well for future economic growth. […]

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Landmark Links January 21st – Unexpected Winner

Must Read: Grocery store-anchored or not, well-located strip shopping centers are outshining malls due to their appeal for proximity and convenience. Economy Pushing on a String: Central banks have long been the unchallenged drivers of financial markets and the business cycle.  However, with interest rates stuck around zero or even negative, they are losing their […]

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Landmark Links January 17th – Barriers to Entry

Must Read: While large and small investors alike are converging on the bridge lending market, big players like Brookfield, Starwood, JP Morgan and Blackstone still rule the pure equity space. Economy Balanced Out: A new study from the Federal Reserve Bank of St. Louis suggests that a college degree still boosts graduates’ earnings, but does […]

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Landmark Links January 14th – Letting Down the Guard

Must Read: Today’s competitive lending environment, buoyed by the proliferation of debt funds post-crisis has created a borrowers’ market and led to the resurgence of cov-lite — and, some say, almost cov-free — loan structures. Economy Sea Change: The conventional wisdom—save enough to retire at age 65—won’t work for the generation starting their careers today as […]

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Landmark Links January 10th – Back From the Dead

Must Read: Non-traded REITs are back after suffering a more than 50% collapse in fundraising a few years ago after industry scandals and criticism.  This time around, its being driven by massive investment firms like Blackstone and Starwood – rather than smaller sponsors – and the fees are a bit lower (although still on the […]

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Landmark Links January 7th – Drowned Out

Must Read: Office space per employee has been shrinking for years and is often sold as a way to increase creativity by encouraging collaboration.  However, the trend has gone way too far and today’s open offices are a major productivity drain, as poorly laid out work areas resembling factory farms lead to scientifically proven distraction […]

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