News

Landmark Links August 23rd – More Fuel?

Must Read: Counter to conventional wisdom, the yield curve inversion could actually be good for the commercial real estate market this time around as the return spread between property and bonds widens. Economy Pick and Choose: It’s not difficult to find indicators that are currently signalling a recession.  But See: A decade of trying to recover […]

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Landmark Links August 20th – Preparing for Battle

Must Read: Next Year’s election season in California is setting up to be an epic  battle thanks to a proposition that would strip commercial buildings of their Prop 13 protection (while maintaining it for residential properties).  As you can imagine, commercial landlords are not about to take this lying down.  I’m working on a much […]

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Landmark Links August 16th – Delayed

Must Read: A new survey from Apartment Guide found that more than half of college graduates are moving in with their parents instead of renting or buying a house. Economy New Normal? Negative interest rates don’t seem as unusual when you think about them in the context of paying for storage of something where there is […]

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Landmark Links August 2nd – Flying Blind

Quick programming note – No links next week as I’m going to be taking a much-needed week off. Must Read: The Family Office Real Estate Magazine recently published a survey that found that family offices are deficient when it comes to commercial real estate due diligence, leading to a lack of investment knowledge and a lack […]

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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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