Where is the Money Coming From?

With all of the information on commercial real estate (CRE) transactions in and processed there is time to reflect on some interesting changes to capital flows into Europe. 2015 was a record year, with nearly €273 billion spent on European CRE and despite the fact that most of the headline grabbing deals were done by

The Sharing Economy Checks-In

The sharing economy has become a prominent though not well understood phenomenon over the past several years. Airbnb is the market leader as it relates to the temporary accommodations industry. The company’s presence in key markets throughout the U.S. is growing at a rapid pace, with users spending $2.4 billion on lodging in the U.S.

Primary, Secondary Markets… Definitions as Clear as Mud

For an industry as sophisticated as commercial real estate, it is surprising that there’s little agreement of what is a primary market, let alone secondary or tertiary. Well, we all agree that the broadly-recognized “gateway” markets (New York, Los Angeles, San Francisco, Chicago, Boston and Washington, D.C.) are primary markets. Fine and dandy. But the water

The Unusual Suspects:  Moneyball Edition

Paul DePodesta was our guest speaker at our annual CBRE, National Retail Investment Group (NRIG) retreat in Vail this week (a big success due to the venue, agenda and quality of clients), and I got the opportunity to speak with him after the event.  Mr. DePodesta is better known to most of you as the

Nothing Wrong with Punting

The Fed should be thrilled to escape January’s meeting with a punt. Another rate hike was off the table, but Janet Yellen can take comfort in the fact that she doesn’t have to face public scrutiny implying that the Fed made a “mistake” in December. Even though the 25 basis points hike in December was

Stock Market Volatility, Capital Flows & The Fed

After last week’s stock market pullback, the S&P 500 has returned to correction territory (10% down from previous

Changing trends in the European market?

The end of 2015 seems to have seen changes in several quite long established trends in the European commercial real estate (CRE) investment market. The first, and most evident, of these is the slowdown in the growth of investment turnover. Until the middle of 2015 this had been increasing at about 30% per annum. Total

Latin America on the Up?

Lower prices for oil, minerals and other commodity exports weighed heavily on Latin America last year, but confidence is on the up and 2016 could represent a turning point for the region. Commercial real estate investment dropped by more than 50% in 2015 (based on Real Capital Analytics data), with recession in Brazil and the fall-off in

The Pause Button?

The volatility in the Shanghai stock market of the last few days is a reminder that the “big” issue is not Oil, Currency, the Fed, High Yield Bonds or the Middle East. It’s China. As in July/August 2015 when the Shanghai stock market fell by over 30% and the U.S. stock market followed with a

Changes in U.S. Tax for Foreign Pension Plans

Like Rocky Balboa beating Apollo Creed for the heavyweight title in Rocky II, the major bi-partisan tax and spending plan signed into law on December 18 contained some rather shocking victories for the Commercial Real Estate industry. The Protecting Americans from Tax Hikes Act of 2015 (what a great name), included provisions that eliminated the