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August 6, 2020

'They Are Literally Exploding Right Now': The Rise Of Blank Check CRE Companies

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Special purpose acquisition companies, known as SPACs, have been all the rage in the financial world this year. Now, they are starting to become en vogue in commercial real estate.

'They Are Literally Exploding Right Now': The Rise Of Blank Check Real Estate Companies

"Today, three SPACs went public," former hedge fund portfolio manager Neil Danics, who tracks SPACs for the website he founded, SPACAnalytics, said Wednesday. "They're literally exploding right now."There were 59 SPAC IPOs in 2019, which raised a combined $13.6B. So far this year, according to Danic's data, there have been 60.A SPAC is…

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Harvard Studies Bring Data To How We Are Working Now And What That Means For Offices

Harvard Studies Bring Data To How We Are Working Now And What That Means For Offices  

We are now deep enough into the work-from-home experiment that, beyond speculation, we have data about what happens when we work remotely en masse — what we gain and what we lose when we are out of the office. 

Researchers from Harvard University have conducted two studies, one tracking the emails and digital calendars of more than 3 million workers across the world, the other surveying almost 700 office workers across the U.S. The data and insights the two studies generated are significant in trying to…

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LIHTC Investors Fight Back, Say Judge’s Ruling Will ‘Chill’ Investment In Affordable Housing

LIHTC Investors Fight Back, Say Judge’s Ruling Will ‘Chill’ Investment In Affordable Housing  

Last month, a Miami judge ruled that a local nonprofit could buy a housing complex by assuming its debt and paying taxes owed — about $110K — icing out its Boston-based private investment partners who had hoped to sell the project for $21M and make a nearly $5M profit on the deal.

But the investors, HallKeen, haven’t given up the fight. They’re asking the judge to set aside the order, arguing that the decision was wrong and, if it stands, will chill investment in affordable housing.

The nonprofit, the Opa-Locka Community Development Corp., "has been trumpeting its victory throughout the country,” attorneys for HallKeen wrote in a motion for reconsideration filed July 31. The judge gave it an “improper windfall” and his decision “will have an adverse chilling effect” on LIHTC partnerships, they argued. The dispute…

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Meet The Office Broker Playing ‘A Game Of Chess At 150 MPH’ At The Weekend

 

Running a London commercial property agency can sometimes feel like a high-octane pursuit, especially during a downturn. But James Townsend goes in for something even faster-paced at the weekend.

“It’s chaos, a totally unique experience," Townsend said. "One of the only things that comes close to it is jumping out of a plane, but that lasts about 30 seconds, and this lasts for 25 minutes. And you’re not the only one in control, there are a bunch of other crazy people in front of you trying to get in your way.”

Townsend, co-founder of the east London-based tenant rep firm Kontor, isn’t talking about trying to find good, affordable office space for a client in hipster heartland Shoreditch. He is talking about a hobby that has turned into a passion, one where more than 1 million TV viewers a week will watch him the next few months: motor racing, specifically the 2020 Porsche Carrera Cup Great Britain, part of the British Touring Car Championship race series. 

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'It's Going To Be A Reckoning': Proptech Survey Finds Drop In Confidence From Startups, Investors

Despite the commercial real estate industry's increased adoption of technology during the coronavirus pandemic, many proptech founders and investors have lost confidence in the industry's strength.

A new survey from venture capital firm MetaProp, which received responses from more than 2,500 proptech executives and investors, found a significant drop in their confidence in the market.

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