IRS form proposed to gather info on OZ investment | HC Government Realty Trust buys offices occupied by DHS, USGS | Blackstone warehouse deals show confidence in e-commerce
November 7, 2019
IPA NewsBrief
National Leadership for Portfolio Diversifying Investments
Top Stories
IRS form proposed to gather info on OZ investment
The IRS and the Treasury Department have proposed a form that would gather information about Opportunity Zone funds, as some lawmakers have expressed concern about the program. "We want to understand where Opportunity Zone investments are going and strengthening the economy so that investors and communities can learn from the successes of this bipartisan, pro-growth policy," Treasury Secretary Steven Mnuchin says.
The Hill (10/31),  NJBIZ (New Jersey) (10/31),  ThinkAdvisor (free registration) (11/4) 
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HC Government Realty Trust buys offices occupied by DHS, USGS
HC Government Realty Trust has paid Rooker $17 million for office buildings in Oklahoma City; Fort Lauderdale, Fla.; and Lawrence, Kan. The properties in Oklahoma and Florida were developed for the Department of Homeland Security, and the Kansas property was developed for the US Geological Survey.
The DI Wire (11/5) 
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Blackstone warehouse deals show confidence in e-commerce
Blackstone has made several big acquisitions of warehouses this year in anticipation of continued growth of e-commerce. The firm owns approximately 800 million square feet of warehouse space globally, including 443 million square feet in the US, half of which was purchased this year.
BNN Bloomberg (Canada) (10/29),  The Wall Street Journal (tiered subscription model) (10/26),  Refinitiv Lipper Alpha Insight/Breakingviews (10/29),  The Wall Street Journal (tiered subscription model) (11/5) 
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An Experienced Leader in Alternative Solutions
Resource is an asset manager specializing in real estate and credit investments focused on delivering income. With over 25 years of experience, Resource implements active management in order to address today's changing environment. Read more
Industry News
Q3 sees acquisitions by Griffin-American Healthcare REITs
Griffin-American Healthcare REIT III purchased a land tract and an integrated senior health property in Indiana during the third quarter, paying $1 million and $14.1 million, respectively. Meanwhile, Griffin-American Healthcare REIT IV paid $84.4 million for medical offices in Illinois, Kansas, Massachusetts, Ohio and Tennessee.
GlobeSt (free registration) (10/30) 
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SmartStop-sponsored nontraded REIT builds memory care facility
A nontraded REIT sponsored by SmartStop Asset Management called Strategic Student & Senior Housing Trust has finished a yearlong construction of a memory care facility in Portland, Ore. The property has 23 units and spans 16,000 square feet.
The DI Wire (11/5) 
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Policy Update
Senate bill seeks to relax audit rules for small advisory firms
A bill with the backing of a bipartisan group of senators would relax the audit requirement for advisory firms with fewer than 151 registered representatives that are classified as small businesses by the Small Business Administration. The Small Business Audit Correction Act seeks to exempt small firms that don't hold client funds from being required to have their audits performed by a firm registered with the Public Company Accounting Oversight Board.
InvestmentNews (tiered subscription model) (10/30) 
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Income Planning
Analysis: How sequence of returns affects a retirement portfolio
An analysis of how a $1 million balanced retirement portfolio would perform over 34 rolling 25-year periods produced some encouraging results, writes Craig Israelsen, executive-in-residence at Utah Valley University. "Retirees who withdraw 4% of the prior year's portfolio balance have a high likelihood of seeing their portfolio grow -- maybe significantly -- throughout their retirement years," he writes.
Financial Planning online (11/4) 
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RIA Focus
SEC proposes update to RIA Advertising Rule
A proposal from the Securities and Exchange Commission to change the Advertising Rule for registered investment advisors would allow use of third-party ratings, testimonials and endorsements to attract business. The proposal has a 60-day comment period.
ThinkAdvisor (free registration) (11/4) 
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IPA Member Information
IPA new member profile: NB Private Capital
NB Private Capital offers individual investors direct ownership interests in institutional quality, professionally managed real estate in the niche area of university student housing. NBPC specializes in the acquisition, financing, and ownership of real estate investments for 1031 exchanges within the DST structure and also offers direct investments in a student housing fund structured as an LLC.
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Bewildered is the fox who lives to find that grapes beyond reach can be really sour.
Dorothy Parker,
poet, writer, critic, satirist
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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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