Senior housing pricing is predicted to rise in 2nd half of 2018 | Blackstone reportedly pitching total returns of 14-16% for Indian REIT | Appetite grows for Libor alternative SOFR
September 24, 2018
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Senior housing pricing is predicted to rise in 2nd half of 2018
In a new report, CBRE is predicting that pricing for senior housing transactions will accelerate in the second half of the year, with Class A+ properties reaching $800,000 or more per unit. The asset class is outperforming most other commercial real estate categories, except for industrial.
GlobeSt (9/24) 
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Investment News
Blackstone reportedly pitching total returns of 14-16% for Indian REIT
Blackstone Group and its Indian partner Embassy Group have set a tentative annual yield of 6.5% to 7% for the initial public offering of India's first REIT, according to sources. Factoring in asset value appreciation and rental increases, the companies are considering marketing the IPO as having a total return of 14% to 16%, the sources said.
Bloomberg (tiered subscription model) (9/24) 
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Appetite grows for Libor alternative SOFR
Entities including government agencies, global institutions, banks and municipalities have issued more than $9 billion in debt tied to the Secured Overnight Financing Rate during the past two months, indicating increased adoption since the Libor alternative launched nearly six months ago. However, market participants say SOFR has progress to make, and concerns have been raised about volatility.
Bloomberg (tiered subscription model) (9/24) 
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Analysis: Quality low for over 40% of US corporate bonds
For the first time, BBB-rated bonds make up more than 40% of US corporate bonds, James Mackintosh writes. This could signal eventual economic trouble, he writes.
The Wall Street Journal (tiered subscription model) (9/20) 
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Liquidity drop turns fixed-income investors toward ETFs
Regulatory changes have led to falling liquidity in US and European bond markets and have forced institutional investors to move into fixed-income exchange-traded funds, research from Greenwich Associates shows.
Financial Times (subscription required) (9/23) 
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Real Estate Marketplace
Tech company activity accounts for 20% of office leasing
Nationwide, tech companies' direct office leasing comes to 20% of all activity -- close to double the 11% of five years ago, according to CBRE Group. The sector's market share will increase, "but we just don't know by how much," Colin Yasukochi, director of research and analysis at CBRE, says.
CoStar Group (9/20) 
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Saul Centers acquires Bethesda, Md., office for $35.5M
One of Saul Centers' limited liability corporations has bought an office building in downtown Bethesda, Md., for $35.5 million. Chevy Chase Land Co. sold the five-story, 69,601-square-foot property.
GlobeSt (9/24) 
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Sears CEO's new rescue plan includes sale of more real estate
Sears Holdings CEO Edward Lampert is asking creditors to restructure about $1.1 billion of debt that will be due next year and in 2020 as part of his efforts to stave off bankruptcy. The restructuring proposal, which has to be approved by the board and the retailer's creditors, also calls for the sale of another $1.5 billion of real estate and the divestiture of $1.75 billion of assets.
The Wall Street Journal (tiered subscription model) (9/24) 
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How Reven differentiated itself in single-family rental home market
Reven Housing REIT launched in 2012 with a focus on an asset class that was just beginning to emerge -- single-family rental housing -- but with a twist: It sought out small portfolios of modest rental homes in major markets that could deliver cash flow. Today the company owns more than 800 homes in the Southeast.
REIT magazine online (9/14) 
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