American rocker Maynard James Keenan once admitted that his biggest setback in working with others was his penchant for being an “only child.” “I have an internal dialogue that goes on that I just assume you can hear,” he told an interviewer. Dialogue, it turns out, is key to a good relationship.
From the Current Issue
Retailers managed to make it through the 2009 holiday shopping season with a positive gain in sales figures, but the industry isn’t expecting growth anytime soon.
The investment climate is less uncertain than it was one year ago, but it’s no less pessimistic. Real estate remains one of the least attractive asset classes on a risk-adjusted basis, and the consensus among investors is that the sector will continue to face multiple challenges through 2010.
The past decade saw property investment go global, as tax-exempt investors gained comfort with investments outside their own borders. The number of U.S. investors who commit capital to Asian real estate is still relatively small, but interest in the region has steadily increased over the years.
By now, almost every institutional investor has been faced with a bankruptcy filing by a partner in a joint venture relationship. The most common scenario is a general partner or managing member that has experienced severe financial difficulties files for protection under Chapter 11 of the U.S. Bankruptcy Code.
The Institutional Real Estate Letter – North America sat down with Andreas Calianos, managing director of Commonfund Realty, Inc.,to discuss real estate’s investment advantage, the nuances of behavioral finance and how investors can better prepare themselves for the next cycle and beyond.
For the first time since the dislocation of commercial real estate credit markets in 2007, there are tentative signs of life in the ailing commercial mortgage–backed securities (CMBS) market — a key source of commercial real estate credit for more than a decade.