Livia Spiegel
New York, New York, United States
569 followers
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Thanks to all of you who have responded to this post. I am deeply touched by all the good wishes and many, many likes. I'm staying in the area and…
Thanks to all of you who have responded to this post. I am deeply touched by all the good wishes and many, many likes. I'm staying in the area and…
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Please join the Global Engagement Summit for a panel discussing ethical storytelling around the world. Register for the discussion at…
Please join the Global Engagement Summit for a panel discussing ethical storytelling around the world. Register for the discussion at…
Liked by Livia Spiegel
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Fairstead
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Explore more posts
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Jack Harding
Institutional investors are jumping back into the market! Stabilizing supply dynamics and continued demand for multifamily housing is providing support for future rent growth. This week, KKR solidified its bet that trend will continue with its $2.1 billion portfolio acquisition of over 5,200 apartments in markets nationwide. With institutional multifamily pricing down about 20% from its peak nearly 2 years ago, could this acquisition and others recently completed by private equity backers be a sign the institutional investment market more broadly is seeing a bottom in multifamily pricing? Private client multifamily has seen a similar decrease in value over the last 2 years but has enjoyed a pick-up in investment activity YTD, with investors lured in by various factors. Many times, this includes an attractive cost basis, potentially lower than replacement cost. Time will tell if wagers by these early movers pay off, but with stabilizing costs of capital, additional clarity looking forward, and the big fish beginning to bite, we could be in for a years-long bull market. What do you think? Looking at any potential investments yourself? Send me a message . I'll be happy to offer any insights CBRE has available to help you make the best investment decision you can. #SoCalPrivateClientLending #AgencyLending #FreddieMac #FannieMae #Multifamily #MultifamilyInvesting #MultifamilyRealEstate #MultifamilyFinance #CommercialRealEstate #CommercialRealEstateFinance #PrivateClient #PrivateClientLending #CRE #CREF #CREFinance #CBRE #CapitalMarkets #Debt #Finance #InvestmentProperty #1031Exchange #Refinance #Acquisitions #Loans #LoanOptions #MortgageBroker #MortgageBanking #CMBS #BankLending #DebtFunds #LosAngelesRealEstate #LARealEstate #CaliforniaRealEstate #CARealEstate #OrangeCountyRealEstate #OCRealEstate #SanDiegoRealEstate
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Maxwell Eisenberg
Institutional money is back! KKR, a prominent private equity investment firm out of New York has reentered the multifamily investment space by acquiring over 5,200 units across the U.S., including Texas and Florida. This move signals renewed confidence in the multifamily sector, as some firms are banking on the dwindling apartment construction starts to boost occupancy and rent growth in the near future. This comes shortly after Blackstone’s $10B purchase of Apartment Income REIT in April. Opportunities are on the horizon, and we will begin to see more as the year progresses. As it is, distressed apartment sales totaled nearly $1B in Q1 alone. https://hubs.li/Q02DKHbM0 Interested in learning more about Club Capital? Join our preferred investor club to get access to our latest investment opportunities and our education blogs and podcasts. https://hubs.li/Q02DKZb80 #PreferredEquity #InvestmentStrategies #CREInvestments
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Olivia Zastro
Q1 2024 saw mixed results for the U.S. office market – while the macroeconomic picture and occupier demand are improving, major occupiers continue to trim meaningful amounts of space from their portfolios. Despite the persistent downsizing, a robust conversion and redevelopment pipeline is bringing balance to the market. Check out JLL’s latest office report for more insights.
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Charlie Story
Can U.S. startups improve their chances of success by moving to a tech hub? Apparently, it’s almost a resounding “yes”. A recent study by Jorge Guzman, associate professor at Columbia found that startups increase their odds of achieving equity growth via an initial public offering or an acquisition by 277% by moving to the Silicon Valley! That's not all; it also boosts their probability of getting venture financing by 218% and receiving a patent by 60%... Insane numbers. 🚀 #timetofoundastartup #registerinDelaware #takecompanytomoon #CRE
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Benjamin Liptscher
"Manhattan office leasing activity grew 29.1% to 8.17M SF during Q2 2024. This was 18.9% above Manhattan’s five-year rolling quarterly average (6.88M SF) and 2.8% above the ten-year average (7.95M SF). Sublet availability in Manhattan was lower during the quarter with a net decrease of 0.25M SF as sublet supply was cut by 4.4% since June 2023. Manhattan’s asking rent average decreased – for the fourth consecutive quarter – as pricing also decreased in 10 of Manhattan’s 18 submarkets". https://lnkd.in/es9y8Mxv
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Cole Perry
According to our Q2 #CRE Industry Conditions and Sentiment Survey, debt #capital availability expectations have broadly improved since Q4 2023. The share who expect sources to be at least somewhat available: +25% for LifeCos/Insurers, +26% for #mortgage #REITs, and +35% for #CMBS / #CRECLOs. Read more in my latest insight article for Altus Group here: https://lnkd.in/eV2A2hN3
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Aryan Singh Nayal
"Blackstone’s Byron Wien Discusses Lessons Learned in His First 80 Years" The article contains 20 key learnings, and this is the first part of a 4-part series on Byron Wien's insights from the first 80 years of his life. 1) Concentrate on finding a big idea that will make an impact on the people you want to influence. Byron Wien's "Ten Surprises," started in 1986, has become a defining product. By going on record with predictions and holding himself accountable, Wien kept himself intellectually at risk, fostering a stimulating and successful life. 2) Network intensely. Luck plays a significant role in life, and the best way to increase your luck is by knowing as many people as possible. Nurture your network by sharing articles, books, and emails. Write op-eds and organize discussion groups to bring thoughtful friends together. 3) Treat every new acquaintance as a potential friend. Assume they will become a positive force in your life. While this approach may occasionally lead to disappointment, it will rapidly expand your network. 4) Read actively and constantly. Approach reading with a point of view, and use it to see if your thoughts are confirmed or challenged by the author. This method will help you read faster and understand more. 5) Ensure you get enough sleep. Seven hours until age sixty, eight from sixty to seventy, and nine hours thereafter, including a possible one-hour afternoon nap. Link: https://lnkd.in/eqf7_ZHn
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Kinkesa Kim
How are investors navigating today’s fluid capital markets? 1. Uncertainty about the direction of interest rates continues to hamper commercial real estate investment activity. 2. Industrial and multifamily are facing softening fundamentals, but remain historically solid. 3. Office continues to be split between the best assets and most of the rest and retail is growing in importance to institutional investors. 4. Maintaining strong relationships with lenders is always critical, but especially so now. Listen to The Weekly Take for insights from CBRE Capital Markets leaders and Global Chief Economist Richard Barkham. https://lnkd.in/g8fUP-mn
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Jeff Dervech, CCIM
In today’s world, many commercial real estate data statistics are thrown out there to be interpreted by industry professionals, people interested in the industry or many of the other players that have a stake in the commercial real estate sector. Data points such as transaction volumes, vacancy rates, market rents, sale comparable and many other inputs that are supposed to reveal outlooks of past, current and future market trends cannot always be trusted and must be verified. Many of this data provided is to give a general overview of what is happening in the market and at times takes into account and many times does not take into account important factors to make this data relevant. The best data to rely on is the data that you gather and compose yourself. As a trusted adviser to our commercial real estate clients, we are entrenched in the market and know what is going on at the micro level for each submarket. It is important to work with an advisor that knows the market backwards and forwards and does not rely on generalized data to direct you in your decision-making process. Having good market data is key to finding opportunity and to creating the most value possible for your clients.
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Quentin Nichols, CCIM
Since my move to Nashville and joining our outstanding investment sales team here, we’ve been able to maintain an impressive level of activity in the market despite a slowdown in transaction volume. Here’s a snapshot of what we’ve accomplished so far in 2024: 🌟 Capstone Nashville Office Stats (YTD) 🌟 - 67+ deals underwritten - 40+ Broker Opinion of Values (BOVs) completed - 15+ Deals Under Contract / Under Agreement - 80+ Formal Offers Received These accomplishments underscore our commitment to delivering exceptional results for our clients in a challenging market. But beyond our numbers, I’ve been closely observing multifamily market trends across Tennessee, Kentucky, and Alabama, and here’s what I’ve noticed: 🔍 Secondary and Tertiary Markets Shine 🔍 - Value-Add Opportunities: Older vintage value add properties in secondary and tertiary markets seem to be holding up very well, especially when backed by a growth narrative in the market. - Rental Dynamics: Renters are increasingly drawn to more affordable options outside primary markets. - Fundamental Strength: Secondary and tertiary markets exhibit better than expected multifamily fundamentals, including solid occupancy rates and steady rent growth, aligning with the underbuilt nature of these areas. 🏢Our recent success story with a 1970s vintage value add property perfectly illustrates these market dynamics 🏢 - Path of Growth: Asset was positioned strategically in a growing area, 50+/- minutes outside of Nashville. - Untapped Potential: 100% occupied with rents well below market rates, presenting significant upside. - Strong Investor Interest: Demonstrated by 27 offers received resulting in the property going under contract well within our BOV value range. ⏳ Seizing Strategic Timing ⏳ - Preemptive Action: Listing now could preempt market saturation when the FED does decide to lower interest rates. - Buyer Sentiment: Despite the current interest rate environment, buyers remain engaged and motivated especially if the property and market have a compelling growth story. - Opportunistic Pricing: Owners with realistic pricing expectations can benefit from heightened buyer enthusiasm due to a lack of quality deals currently on the market. While some owners are waiting for the Federal Reserve to lower interest rates before listing their properties, I believe there’s a compelling case to act now. If you or anyone you know is considering listing a property, let’s discuss how we can leverage these market dynamics to achieve your investment goals together. #RealEstateInvestment #MultifamilyProperties #MarketInsights #NashvilleRealEstate
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Jordan S.
📊 Industrial Real Estate Market Update - Q1 2024 In the first quarter of 2024, the industrial real estate sector faced notable shifts. Here's a quick breakdown of key insights from Glenn R. Mueller's latest report, which I explored during my CCIM 102 class courtesy of Eric Hillenbrand, CCIM, CLS: Occupancy Trends: Industrial occupancy fell by 0.4% in Q1 and 2.7% year-over-year, influenced by economic uncertainty impacting large goods sales and prompting some distributors to close post-pandemic facilities. Net Absorption: Net absorption remained barely positive, marking the lowest rate in a decade, with a significant influx of unleased space coming online. Rent Growth: Despite these challenges, asking rents increased by 1.2% for the quarter and 4.7% year-over-year, driven by rising building costs. The industrial sector's resilience is evident in its continued rent growth despite occupancy declines. These insights are crucial for informed investment and operational decisions. Stay ahead of the curve and adapt to the evolving market dynamics! 📈
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Carl Firch
I interviewed Michael Levy, CEO of Crow Holdings, and Joseph Cahoon, Director of the SMU Folsom Institute for Real Estate --- Here are 3 essential lessons I learned that every finance student should know before graduating: 1. EQ vs IQ: Which Reigns Supreme in Finance? Despite its complexity, finance ultimately hinges on simple math: adding, subtracting, dividing, and multiplying. But here's the kicker: the true edge in finance isn't just about crunching numbers; it's about mastering emotional intelligence. It's about being able to tell a story that not only explains the data but also captivates and persuades. 2. Rethink Networking: It’s About Depth, Not Breadth Joseph Cahoon offered a fresh twist on the old adage, 'It’s not the grades you make, it’s the hands you shake.' With a knowing smile, he challenged this notion, emphasizing that true success isn't just about acing tests or flashing your business card at every networking event. He argued passionately that both academic excellence and deep, meaningful relationships are essential, stressing the shift from mere networking to building enduring relationships. 3. Sacrifice Now, Reap Later: The 20s Trade-off In your twenties, the true magic lies not just in acquiring information, but in immersing yourself in hands-on experiences that turn knowledge into wisdom. This period serves as your training ground. While networking and attending industry gatherings can offer valuable insights, what truly distinguishes you is translating those ideas into tangible actions. Those who actively engage in their work, getting their hands dirty, not only contribute but also excel, propelling their careers forward.
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9 Comments -
Andrea Lui
In my continuous efforts to expand Washington Square News’ business and technology coverage, I’m thrilled to have reported on Flite — an event planning startup run by some very passionate NYU students and alumni (Suvir Wadhwa, Rahul Surana, Kanay Jay Shah and Jasmeet Sahota). It’s incredible to see student startups like Flite flourish, especially with the backing of angel investors like Jason Calacanis and seasoned entrepreneurs as mentors like Andrew Boryk. “In February 2024, Flite began participating in the San Francisco-based LAUNCH Accelerator and secured $100,000 of seed funding from founder Jason Calacanis, a top internet entrepreneur and angel investor. Through LAUNCH, Calacanis has backed over 300 technology companies like Uber, Robinhood and Calm. His support kicked off tremendous exposure for Flite’s endeavors. “He has been very, very helpful. He’s a smart guy who always has the answer to everything, no matter what you bring in,” Surana said. “Having somebody like that in your corner is amazing. Ever since then, we’ve secured checks from other investors and even got $10,000 last week.” Flite also been able to grow with the help of advisors like Andrew Boryk, a Forbes “30 Under 30” entrepreneur who has raised over $70 million across several portfolio companies. Guidance from mentors like Boryk has been instrumental to Flite’s expansion, especially when overcoming roadblocks. “We went to a couple of tech mixers in November just trying to meet people in the startup ecosystem,” Surana said. “When we met Andrew Boryk, we were in a bit of a mental block and he was willing to set up a call with us to get us back on track. He has bet on us, not just our startup. He thinks that it’s the people who are the reason why he believes in a startup so much.”” Read more of my article here: https://lnkd.in/eJ8c_G7f #nyunews #flite #techstartup
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Istiake A. Abid
I am thrilled to announce that I have been selected from over 10,000 applicants to participate in 2024 Virtual Insight Series at Goldman Sachs. This opportunity to engage with some of the most accomplished professionals in the investment banking sector is truly a privilege. I am eager to dive into this enriching experience and gain invaluable insights from a leading global firm! #investmentbanking #goldmansachs #assetmanagement #networking #virtualinsightseries #finance #professionaldevelopment #investmentbanks #financialindustry Activate to view larger image,
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1 Comment -
Greg MacKinnon
In today's market environment, is there a part of the commercial real estate market that has rising demand from tenants, constraints on new supply, and ample capital available (both debt and equity)? Check out my recent conversation with Kristina Metzger of CBRE Data Centers Capital Markets and Jon Lin of Equinix to find out the answer. (Hint: The answer is yes, and it is data centers). https://lnkd.in/evb_Wcsn
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Rohan Naula
Last week, I participated in JPMorgan Chase & Co. investment banking virtual experience program on the Forage platform and it was incredibly useful to understand what it might be like to be part of an IB team at JPMorgan Chase & Co. , to prepare a DCF valuation, identify and screen M&A targets and provide an investment recommendation in a realistic context. My experience completing this program was validation for me that I really enjoy the typical work of an investment banker and would love to apply what I’ve learned in your team. #investmentbanking #virtualexperience #learning
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Denver Lobo, CFA
Family Offices Are Boosting Allocations to Alternative Investments (Private Equity, Private Credit, Real Estate) 1) In 2024, KKR’s survey of 75 family offices, 52 percent of their portfolios were to be invested in alts, up from 42 percent in 2022. The expansion is coming at the expense of all or most other asset classes. 2) Family offices, like other alts investors, think 2024 will be a standout vintage year. Interest rates remain higher and are expected to force distressed assets / companies to sell or recapitalize, even as the economic outlook improves. 3) “They understand the benefits the illiquidity premium plays in compounding capital in a tax efficient manner to build wealth for future generations,” Henry McVey, the head of global macro and asset allocation at KKR and the CIO of the firm’s $39 billion balance sheet. Read the full article here -> https://lnkd.in/gYbTjf8H #familyoffice #wealthadvisor #wealthmanagement #capitalallocation #alternativeinvestments #realestate #privateequity #privatecredit
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Pablo Rodriguez
Blackstone's Bets on Infrastructure: Boon or Boondoggle in 2024? I'm intrigued by the recent investment strategies of private equity (PE) giants like Blackstone. In particular, Blackstone's aggressive push into infrastructure assets in 2024 raises questions about potential rewards and risks. Blackstone's Infrastructure Focus: A Diversification Play Blackstone, traditionally known for its private equity investments across various industries, has been making significant acquisitions in infrastructure assets like airports, logistics centers, and renewable energy projects. This diversification aims to: Generate Stable Cash Flows: Infrastructure assets often provide steady, long-term cash flow, which can be attractive to PE firms seeking predictable returns. Hedge Against Inflation: Infrastructure assets can potentially offer protection against inflation, as their value may increase alongside rising costs. Unlock Long-Term Value: Blackstone suggests they can leverage their expertise to optimize operations and unlock further value from these assets. Blackstone vs. KKR: Divergent Strategies in Infrastructure However, not all PE firms share Blackstone's enthusiasm for infrastructure: KKR's Selective Approach: Private equity competitor KKR has been more cautious in its infrastructure investments, focusing on specific sectors with high growth potential. Potential Challenges for Blackstone: Complexity & Long-Term Management Blackstone's infrastructure strategy also faces potential hurdles: Management Expertise: Effectively managing a diverse portfolio of infrastructure assets requires specialized expertise that PE firms may not traditionally possess. Regulatory Landscape: The regulatory environment for infrastructure projects can be complex and change frequently, requiring careful navigation. Exit Strategy Challenges: Exiting infrastructure investments can be more challenging than traditional PE deals due to the illiquidity of these assets. The Road Ahead: A Cautiously Optimistic Outlook Blackstone's focus on infrastructure represents a bold diversification strategy. Success hinges on: Building the Right Team: Assembling a team with deep infrastructure industry knowledge and management expertise. Active Management & Optimization: Proactively managing these assets to maximize their long-term value. Careful Selection & Long-Term Focus: Selecting the right infrastructure assets and maintaining a long-term investment horizon. Blackstone #PrivateEquity #InfrastructureInvestment #KKR
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