AF Bornot Dye Works is a loft apartment and retail project in central Philadelphia that involved the adaptive use and restoration of three timber and concrete factory buildings. The capital stack assembled for this project was unusually complex, partly because of its unusual mix of uses, its location outside the Center City core, and the challenges posed by historic rehabilitation.Read More
Since Congress legalized crowdfunding for real estate projects in 2012, the internet-based financing source has grown dramatically, from $396.4 million in 2013 to $2.5 billion in 2015, according to the Los Angeles–based research and advisory firm Massolutions.Read More
The economic forecast for the next three years likely will be mixed, panelists said at the ULI Spring Meeting in Philadelphia, thanks to slowing productivity, job growth that is relegated primarily to low-wage sectors, and imbalances in real estate markets driven by shifting consumer preferences and incomes.Read More
The U.S. economy remains in good shape with steady, if unspectacular growth, the head of one of the world’s largest investment management companies said at the opening of the general session at ULI’s Spring Meeting in Philadelphia.Read More
Speaking at the 2016 ULI Spring Meeting in Philadelphia, panelists said that while valuations are quite high, the relatively low levels of leverage may mitigate some of the boom-to-bust tendencies of past building cycles.
Vacancy in the U.S. office market inched up by 10 basis points (bps) during the first quarter of 2016 (Q1 2016), rising to 13.2 percent, according to the latest analysis from CBRE Group Inc. Even with the increase, the national office vacancy rate remains at the lowest level since 2008.
Six data center real estate investment trusts are posting outsized returns this year. The sector has a market cap of $45.6 billion and year-to-date returns have totaled 13.06 percent, including a 3.01 percent dividend yield. Growth in data use and cloud computing is the driving force behind the sector’s expansion. Plus, interest rate survey data from Trepp.
Commercial property transaction volume is expected to decline over the next three years to $475 billion in 2018, according to a new three-year economic forecast from ULI’s Center for Capital Markets and Real Estate. However, this volume forecast over the next three years was surpassed only by volumes in 2007 and 2015, and follows six years of commercial property volume growth.
Economists see a pretty good year ahead for real estate, despite a weak world economy. “The data [are] good, but we all feel this uncertainty,” said Jeffrey Havsy, chief economist, Americas, CBRE Econometric Advisors. He spoke at a panel discussion of the semiannual ULI Real Estate Consensus Forecast, as part of a members only webinar.
Mild caution is evident in the latest ULI survey of U.S. real estate economists. Compared with their analysis six months ago, real estate researchers are predicting slower economic growth, slipping real estate fundamentals, and lower returns from both the public and private markets. These results are based on the semiannual “ULI Real Estate Consensus Forecast,” prepared by the ULI Center for Capital Markets and Real Estate and scheduled for release Wednesday, April 6.