Chereso: Transparency to investors vital amid uncertainty | Stanger: NAV REIT rebound shows benefit of nontraded | A sector-by-sector look at what's in store for CRE
August 13, 2020
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Transparency in alternative investments is crucial to give investors confidence during periods of uncertainty, says Anthony Chereso, president and CEO of the Institute for Portfolio Alternatives. "As the [Securities and Exchange Commission] moves to modernize the exempt offering framework and valuation practices, it's imperative the industry is coordinated in our efforts promoting best practices and that we hold ourselves accountable as we implement and adapt to new and better standards for investor protections and capital access," Chereso says in a Q&A.
Full Story: The DI Wire (8/12) 
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Returns from nontraded net asset value REITs increased 2% in the second quarter, after decreasing 4.5% in Q1, according to the Stanger NAV REIT Total Return Index, which is down 2.6% this year. "This performance only serves to highlight the benefits of a nonlisted REIT vehicle, providing a real estate-based return without the extreme ongoing volatility of the traded market," says Kevin Gannon, CEO of Robert A. Stanger & Co.
Full Story: The DI Wire (8/6) 
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The pandemic has affected every asset class in the commercial real estate industry. This article takes a look at the impact on various sectors as well as forecasts for the future and what REITs are doing to respond.
Full Story: REIT magazine (July/August 2020) 
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Urban areas continue to face challenges from the pandemic, increased work-from-home policies and other factors, and office values could decline 17.2% this year, according to Moody's Analytics REIS. On the other hand, long-term interest rates are low and real estate funds have ample capital to invest.
Full Story: The Wall Street Journal (tiered subscription model) (8/4) 
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Industry News
SmartStop Self Storage REIT has installed solar panels at a facility in Mount Pleasant, S.C., as the company's first solar panel project. The panels are expected to produce yearly savings of 81,500 kilowatt-hours and are part of an effort to increase energy efficiency across the company.
Full Story: The DI Wire (8/10) 
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Blackstone has closed on an acquisition of a 49% stake in three Hollywood studio properties at a time when the coronavirus pandemic is fueling demand for streaming content. The company expects to be able to buy more space in places such as Vancouver, British Columbia; London; and New York.
Full Story: Bloomberg Businessweek (tiered subscription model) (8/11) 
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ExchangeRight provides diversified portfolios of net-leased assets backed by investment-grade corporations that operate essential businesses. All 50 of the company's recession-resilient offerings have met or exceeded targeted cash flow distributions to investors since the company's founding. Learn more.
Policy Update
People saving for retirement should be allowed to use private investments such as real estate and closed-end funds, says Dalia Blass, the Securities and Exchange Commission's director of investment management.
Full Story: Financial Times (subscription required) (8/2) 
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The Labor Department has denied a request by Sen. Patty Murray, D-Wash., to extend the comment period on the latest proposed fiduciary rule and to hold a public hearing on the measure. "I'm incredibly frustrated that the Trump administration is charging ahead so recklessly with a proposal that could lead to retirement savers losing billions of dollars a year due to conflicted advice," Murray said.
Full Story: ThinkAdvisor (free registration) (8/6) 
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Steven Peikin, co-director of enforcement at the Securities and Exchange Commission, will leave the agency Friday. Co-chief Stephanie Avakian will continue to run the enforcement division.
Full Story: The Wall Street Journal (tiered subscription model) (8/5) 
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Income Planning
Part of a financial advisor's job is to help clients avoid the bad financial habits their neighbors may be engaging in to live above their means, Bryce Sanders writes. He lists several bad habits, including not saving for retirement, buying most things on credit, tapping home equity for nonessential purposes and eating out often.
Full Story: ThinkAdvisor (free registration) (8/5) 
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IPA Member Information
Waypoint Real Estate Investments is a vertically integrated real estate investment management firm with a team of more than 100 real estate professionals that acquires and develops conventional multifamily, student housing and senior housing properties throughout the US. Learn more.
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I don't ask for the meaning of the song of a bird or the rising of the sun on a misty morning. There they are, and they are beautiful.
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About IPA
The Institute for Portfolio Alternatives (IPA) provides national leadership for the Portfolio Diversifying Investments (PDI) industry. We bring together the investment managers, broker-dealers, investment advisers and industry service professionals - new and established - who are dedicated to driving transparency and innovation in the marketplace. Through advocacy and industry-leading education, we are committed to ensuring all investors have access to real assets and the opportunity to effectively balance their investment portfolios.

The IPA seeks to raise awareness of PDI products among stakeholders and market participants, including: investment advisers, public policymakers and the investing public. We support increased access to investment strategies with low correlation to the equity markets: lifecycle real estate investment trusts (Lifecycle REITs, net asset value REITs (NAV REITs), business development companies (BDCs), interval funds and direct participation programs.

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