Suburban San Diego Is Enjoying
The Regional Boom
Strong San Diego fundamentals mean strong demand for office and industrial properties in the city, but the suburbs aren't being left out. A rising regional economy is lifting all boats, though differently in different submarkets.
The direction of San Diego's suburbs will be the subject of discussion at Bisnow's Future of San Diego Suburbs event Oct. 23.
“San Diego's market fundamentals are supported by strong regional economic drivers," said CBRE Vice President Hunter Rowe, who is based in the San Diego office.
“Demand for quality amenitized office and industrial product remains coveted, particularly for value-add and core…
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Universe Holdings' Henry Manoucheri Explains Why He Likes Buying Rent-Controlled Property
Even with the looming of Prop. 10, the measure that could possibly repeal the Costa-Hawkins Rental Housing Act and allow local municipalities to enact rent regulations, Henry Manoucheri sees some opportunities.
Manoucheri, the CEO and founder of Universe Holdings, is against rent control. But if some form does come into fruition, his company will continue investing in rent-controlled properties.
While some investors may shy away from acquiring properties under rent regulations because of limits on profits and stale tenant mobility, Manoucheri embraces it. His company has 16 properties in rent-regulated areas in California, he said. In March, his company…
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Report: Poll Finds Nearly Half Of Voters Oppose Prop. 10 Expanding Rent Control
If the California elections were held today, nearly half of likely voters would vote against Proposition 10, the repeal of the Costa-Hawkins Rental Housing Act, according to a poll by the Public Policy Institute of California. The passage of Prop. 10 would expand local authority to enact rent control across the state.
The survey released last week found 48% of likely voters would vote against repealing Costa-Hawkins; 36% would vote yes and 16% are undecided.
The Public Policy Institute of California is a nonprofit, nonpartisan think tank.
The nonprofit surveyed more than…
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The 10 Largest North American-U.S. Real Estate Debt Funds To Close In The Last Decade
Alternative lenders have become a dominant force in the commercial real estate debt market following the financial crisis of 2008.
Their ability to quickly deploy capital and originate more creative loans with flexible underwriting standards has made them an attractive financing vehicle for borrowers, giving traditional banks — which are governed by very stringent federal regulations — a run for their money.
Pension funds, private equity firms, sovereign wealth funds and other institutional players are giving rise to the competitive real estate debt landscape. Since 2008, the number of private real estate-focused debt funds to close has nearly doubled from 39 funds raising a collective $12.5B in 2008 to 62 funds raising a total $32.3B in 2017, according to Preqin data. As of September, Preqin tracked 39 active real estate debt funds on the global market having raised $19.8B.
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Inside Brookfield's Experimental Retail Incubator
When Brookfield picked up seven storefronts on vacancy-ravaged Bleecker Street in Manhattan's Greenwich Village, the company vowed to return the strip to its former glory. The Bleecker Street buy — Brookfield paid New York REIT $31.5M for the properties — was billed as an opportunity to create a testing ground for new retail concepts equipped to weather the worsening retail storm.
This week, the Canadian equity giant revealed its first step in the revitalization plan, an initiative dubbed “Love, Bleecker,” which includes new stores, art installations and cultural programming.
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