JULY 13, 2019

Research

Multifamily

Exclusive Research: Multifamily Investors Feeling Good

By David Bodamer, Editorial Director

The current real estate cycle is stretching into its second decade—with no clear end in sight. While there have been hiccups in some segments (we’re looking at you, retail), multifamily has been a rock. And despite being the favored asset type of many classes of investors, driving cap rates ever lower, the sector’s fundamentals have held up. To modify a phrase from Arrested Development’s George Bluth, there’s always money in multifamily.

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Finance & Investment

Exclusive Research: REITs Run the Game

By David Bodamer, Editorial Director

The continued strength of commercial real estate as a sector, combined with the disciplined strategies of REIT management teams in recent years, has left publicly-traded REITs in a good position despite the overall maturity of the current cycle. There are few red flags about leverage, the quality of properties in REIT portfolios and investment activity, leading respondents to expect share price and total return growth for REITs for the balance of 2019.

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Analysis

Finance & Investment

Will the Scarcity of REIT IPOs Continue for the Rest of 2019?

By John Egan, Contributing Writer

At the current pace, the REIT sector’s IPO activity in 2019 will likely fall short of the previous two years, says Justin Salon, corporate partner and co-chair of the REIT practice in the Washington, D.C. office of law firm Morrison & Foerster LLP. As Postal Realty Trust and Priam Properties have undoubtedly discovered, the IPO business is complicated, particularly given the myriad regulatory requirements. That helps explain why some REITs, like Priam Properties, put off IPOs, while others cancel them or never pursue them in the first place.

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Finance & Investment

Loans for Speculative Projects Continue to Flow in Industrial, SFR Build-to-Rent Sectors

By Kerry Curry, Contributing Writer

As this real estate cycle stretches out, the availability of financing for speculative development appears to be more constrained than during the last market peak, although opportunities continue to present themselves to investors betting on the growing e-commerce distribution sector.

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Multifamily

Trade Tensions Raise Construction Costs in the Multifamily Sector

By Bendix Anderson, Contributing Writer

The U.S. government continues to confront its main trading partners on what it calls unfair trade practices, placing heavy tariffs on goods from these countries. These include tariffs on goods from China and on Canadian lumber, to name just two. Subcontractors have often responded quickly, raising their prices on the news of higher tariffs, even if the price they pay for materials remains relatively low.

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Commentary

When Fighting Climate Change, Government Can’t Go at it Alone

By Eric Singer and Andrej Micovic

Residents of Miami, where we are based, need no reminder that South Florida is on the front lines of the battle against climate change—particularly during hurricane season. Many of the region’s municipalities have been proactive in prioritizing resiliency measures, but in the face of limited financial resources and uncertainty about what the future will bring—for example, just how high seas will rise, and when—we still have a long way to go to future-proof our infrastructure.

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NREI Wire

Nordstrom Really Needs an Anniversary Sale Win

Bloomberg

As its performance on Wall Street suffers, Nordstrom’s biggest annual sale needs to prove it’s still a hit with shoppers.

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