One Big Thing Still Flowing: CMBS originators and debt funds have pulled back during the pandemic. However, the real estate capital markets have largely continued to function, thus far avoiding the near-complete shutdown experienced during the Great Financial Crisis and preventing a major crash in valuations. Real Clear Analytics This brings to mind...
September 15th – Building Inferno
What I’m Reading Building Inferno: Three million of California’s 12 million homes are at high risk for wildfires per CalFire. That designation hurts home values, which in turn increases mortgage default risk, according to research by the Commodities Futures Trading Commission (CFTC). If fires continue to cause more damage and insurance...
September 14th – Opening Up
What I’m Reading Opening Up: The Securities and Exchange Commission modified its definition of “accredited investor: in August, changing who is allowed by law to invest in private securities offerings. The new definition is less restrictive, which will likely open up an opportunity for more investors to participate in private real...
September 9th – Hot Spot
What I’m Reading Hot Spot: California investors typically account for 30% to 40% of transaction volumes in Arizona, but recently, that number has increased to 50% as capital from the Golden State flocks to more business friendly locales. Globe Street Setting a Precedent: There are several shut-down generated lawsuits currently making their way...
September 8th – Move In Special
What I’m Reading Move In Special: Office landlords are increasingly offering up more free rent and larger TI packages in an effort to attract tenants but still maintain base rental rates. This is why its so critical to look at net effective rent – the base rates do not come close...
September 1st – Liftoff
Welcome to Basis Points, a daily go-to for the best and most interesting curated commercial and residential real estate stories, combined with original commentary and analysis.If you are frequent reader of my blog (formerly Landmark Links), you may have picked up on some hints I’ve been dropping about an upcoming...