Groundhog Day

On September 28th, Congress passed a short-term spending bill to extend government funding through December 9th. The stopgap bill includes an as-is extension for the EB-5 Regional Center program–an immigration program that grants permanent residency to foreign nationals who invest a minimum of $500,000 in a U.S. business. We’ve been here before. In September last

Emerging Markets on the Upswing?

As is often the case, stock markets sensed a change in affairs long before economists did. Having fallen by 13% over the six months leading up to February 2016, the Russell index of emerging market equity returns has subsequently risen by 17%. This year economic data coming out of emerging markets has slowly but surely

New Lease of Life

Rising home prices, stagnant real wages, and the urbanization of millennials and baby boomers have kept demand for rental units in the U.S. strong and, in turn, rents and occupancy levels at historical highs. More households are staying in the rental market longer due to the high cost of entering into home ownership, compounded by

Big v Small

In analyzing U.S. office investment opportunities today, are acquisition trends different for large office assets compared with small? Is purchasing volume holding up better for one set vs. the other? And what about pricing? Analysis of office investment trends by asset size helps to characterize what’s going on in the office investment marketplace. Using the

Cracks in the Wall?

Over the past two months, it has become increasingly apparent that maturing CMBS loans are having difficulty in

Sea Change?

The financial failure of South Korea’s Hanjin Shipping Co. is a shock to global commerce and logistics, but it is not  a complete surprise given mounting overcapacity in global shipping and subsequently depressed container rates. Hanjin filed for bankruptcy protection on Aug. 30. Almost immediately, this caused major upheaval in global freight shipments as ports

Don’t Trust Me, Trust “We”

My father was from the Bronx and was practiced in the art of street insults, none of which appear in the Oxford Dictionary. Despite his colorful language, he believed the surest way to insult someone was to say “trust me”. Although he never asked for it, he earned almost universal trust from his colleagues and

In and Out

CBRE’s look at investment flows involving Middle Eastern investors and Middle Eastern commercial real estate–“Middle East In & Out”–reveals that their purchases in the rest of the world jumped sharply in 2015 to US$24 billion. Middle Eastern investors were also less active traders of their existing holdings and so the growth in their net investment

Hiking in Hong Kong

Who would have thought that one could go hiking in a wilderness in Hong Kong, one of the

Inside Job(s)

In honor of Labor Day and the millions of hard working Americans, the following is a quick look at where jobs are currently being created in the U.S. Employment is arguably the single most important economic indicator for commercial real estate. Jobs create demand for real estate directly and indirectly, so understanding employment strengths (and