News

Landmark Links February 15th – Can’t Quit You

Must Read: Blackstone now has a real estate portfolio of $136 billion, larger than any REIT in the S&P 500.  The firm’s success, coupled with the fact that real estate has more deal flow and liquidity than buyouts – private equity’s traditional investment sector – has the firm’s competitors emulating it by raising ever-larger funds that are […]

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Landmark Links February 12th – Jumping to Conclusions

Must Read: Investors are jockeying for position in the Qualified Opportunity Zone space while still awaiting guidance from the Treasury Department as to how the program will actually work with regards to leverage, tax treatment of cash reserves and early exits.  While many more experienced operators are holding back until they get clarity, some novice real estate […]

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Landmark Links February 8th – All In

Must Read: Pension funds have increased their allocations for alternative assets – primarily hedge funds, private equity, commodities, and real estate – from 10% in 2001 to approximately 30% in 2016 in an effort to boost their returns.  It has not gone well. Economy Best of Times, Worst of Times: Tech is splitting the US […]

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Landmark Links February 5th – Size Matters

Lead Story:  Brookfield Asset Management has finished raising its largest-ever property fund at $15 billion.  The Wall Street Journal recently interviewed Brookfield’s CEO and he had this to say about actually deploying the mountain of cash: “You can’t put $15 billion to work $50 million at a time,” said Brian Kingston, Brookfield’s chief executive of Brookfield’s […]

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Landmark Links February 1st – Off Limits

Must Read: Billions of dollars are flowing into a corner of the tech industry focused on housing.  However, it has not yet been able to deal with the fundamental problem: affordability.   For all of its potential, technology can’t solve the inescapable fact that housing is incredibly expensive to build and that a lot of communities where […]

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