Following the Money
Coming out of 2013, the big institutional core real estate funds reportedly are scoring handsome low-to- mid-teens annualized returns, continuing an excellent run. Concentrating investments in the major urban areas has been paying off as capital continues to flood into these markets, creating cap rate compression in an ongoing low interest rate environment. Over the last several years, apartments had a nice spike, now industrial real estate is taking over, Class A office in the best submarkets generates NOI growth off renter demand for flexible and sustainable space, and those good old fortress malls continue to score, attracting all the top retailers, who winnow positions in lesser shopping centers.
WASHINGTON, DC--The recapitalization with Beacon Capital Partners closed on Wednesday nights.
NEW YORK CITY—The appointee joins the firm’s multifamily finance team from Prudential Mortgage Capital Co.
NEW YORK CITY—The investor base for StepStone Real Estate Partners III includes institutions and high net worth individuals from across the globe, says real estate head Jeffrey Giller.
SAN DIEGO—Multifamily lenders need to keep an eye on income growth and factor it into their underwriting standards, in addition to being aware of decreasing affordability in the market, speakers at MBA’s CREF/Multifamily Housing Convention & Expo 2017 tell attendees.