Trying to reason with hurricane season

WELCOME TO HURRICANE SEASON The Atlantic hurricane season is barely three weeks old, but 2016 has already seen four named storms. Although the official season runs from June 1 to November 30, tropical cyclones can form at any time of the year; we began exceptionally early in 2016, with two ‘‘pre-season’’ storms: Hurricane Alex formed

The Panama Canal Expansion

The Panama Canal Authority (ACP) will officially open its new gates to toll-paying container, tanker and cargo ships on June 26. Expansion of the 48-mile channel connecting the Atlantic and Pacific oceans to handle growing international trade volumes began in September 2007. Now, 20 months behind schedule and at an estimated cost of $5.4 billion,

U.S. Multifamily Investment Still Appealing

Multifamily housing remains a favored investment sector in the U.S. In 2015, one word described the entire multifamily capital markets landscape: superlative. 2016 is not quite living up to this description, but generally the U.S. multifamily capital markets activity and performance remain very healthy. Over the first few months of 2016, acquisitions and lending activity

“Lower for Longer” Suits Real Estate Just Fine

The Federal Reserve left the target federal funds rate unchanged at 0.25-0.50% for a fourth consecutive meeting. Suspense surrounding a possible June rate hike vanished after a dismal May jobs report revealed that the U.S. economy added just 38,000 jobs. The economy has consistently under-performed Fed expectations this year, forestalling the board’s original plan to

Checking the Rear View Mirror

The imminent European Referendum and the degree to which it is affecting deal volume has been the dominant topic in UK property in the first half of 2016. While that’s understandable, it makes it easy to overlook other key challenges already visible in the rear view mirror. One of these is that we are approaching

The Road Ahead

As several central banks—including Australia, India, Indonesia, Japan, New Zealand and Taiwan—cut their rates in the first five months of 2016, debt financing turned more active in the Asia Pacific region while the equity funding slowed down. After a record-year of bond issuance by real estate companies in Asia Pacific—reaching US$55.7 billion in 2015—the strong

Retail’s New Originals

Rock-n-roll Hall of Famer Alice Cooper wrote such immortal youth anthems as “I’m Eighteen” and “School’s Out”, but is perhaps best known for his stage performances with their mix of horror, magic and more than a bit of theatrical excess (if such a thing is even possible in the rock business). Mr. Cooper’s act inspired

How Close are We to the End of the Current Cycle?

Across all regions, the volume of capital flowing into real estate fell back in Q1 2016. Investors interpreted the market volatility as indicating either an imminent financial crisis in China, or the end of the U.S. economic cycle—or both—and decided to be cautious. Although the current cycle is entering its mature phase in the U.S., our analysis suggests there

The Cycle

On September 8, 1974, millions of eyes around the world were transfixed on the banks of an obscure

Measuring the Tide

Bullish or bearish? Inspired or discouraged? Concerned or confident? We asked dozens of our U.S. real estate executives their views on several aspects of the market [1] – and the results are below. We’ll be re-polling the team every 60 days to provide ongoing insight into how our team sees the market trending as the