Louisa Schneider

JPM recommends overweighting to private real estate, finding that public REITS can offer slightly higher prospective returns, but with slightly higher volatility. Noting how low their expected compound returns seem at the headline level (eg 7-8%). It’s not surprising since these returns mimic the long term performance of broader public equities and are also returns for Core real estate specifically. That said, we routinely target net returns 400bps+ north of these figures for 10yr+ investments as equity, including the Core opportunities we’re seeing out there. Point remains that while public REITs are offering compelling implied cap rates, JPM still favoring 60-80% allocation to private real estate for a similar expected return and less volatility, and that’s before the tax efficiency comes into play. Obviously painting with broad brush strokes (and as always just an observation on capital markets, not investment advice, solicitation, etc.). #REIT #realestateinvesting #realestate #apartments #multifamily #volatility #CRE

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Bloomberg Stays Put in 🗽 NYC with Nearly 1M SF Lease 💸 Renewal! Exciting news for the commercial real estate market in New York City! Bloomberg has just renewed its nearly 1 million square foot lease at 731 Lexington Avenue. In a time when many companies are rethinking their office space needs due to the pandemic, Bloomberg's decision to stay put is a 🥊 testament to the enduring appeal of prime office space in the city. Gotta love ❤️ Mike! The building, owned by SL Green Realty Corp., is a Class A property located in the heart of Midtown Manhattan. It boasts state-of-the-art amenities, including a fitness center, conference facilities, and a rooftop terrace. This renewal is also a win for SL Green, which has faced challenges in the commercial real estate market due to the pandemic. The deal is a sign that demand for prime office space in New York City is still strong, despite the uncertainty caused by the pandemic. Overall, Bloomberg's renewal at 731 Lexington Avenue is a positive sign for the commercial real estate market in New York City. It's a reminder that even in uncertain times, prime office space remains a valuable asset for businesses looking to attract and retain top talent. What do you think about Bloomberg's decision to renew its lease at 731 Lexington Avenue? Huge win for Midtown East which is like a desert waste land. Share your thoughts in the comments below. #CommercialRealEstate #Bloomberg #NewYorkCity #OfficeSpace #PrimeLocation

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https://lnkd.in/ex4PDHCW Exhibit 2, "How a Typical Multifamily Building's Debt Profile Has Changed" in this write-up implies that a building acquired at a 3.5% cap rate in 2021 with 15% cumulative NOI growth should have its equity marked down between 50-80% at today's cap rates between 5.0%-5.5%.

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🎙️Ep 113: Navigating Fundraising with Chris Keller, CFA, Managing Partner at Catalyst Partners Topics: - The Value of Anchor Fund-of-Funds  - Inside-Out Fundraising  - The Importance of Storytelling ...and so much more. Top Takeaways - 90% of groups fail to raise a second fund after launching their first. To overcome the difficulty in the market.  Chris emphasizes the importance of evaluating your team's experience and reputation, along with understanding economic factors to determine the support needed for your first and second funds. - Focus on building a core network of trusted supporters early on. In exploring inside-out fundraising, the focus is on starting within your immediate circle rather than reaching too far outside initially. This approach prevents premature marketing efforts and advocates for patience and gradually building credibility before engaging with major organizations. - Having a vision for how you tell your story is critical.  Crafting a compelling story is crucial for successful pitching. Focus on why you do what you do rather than just the data. Think like a writer, creating chapters that entice the reader to turn the page. Pay attention to the small details that make for a great narrative. #privateequity #mergersacquisitionsdivestitures #investorsandoperators

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Excited to sit in on Susie Harborth’s session at #BIOInternational discussing Emerging Opportunities for Company Growth in Global Markets with Wen Qi Ho, Kristen Albright, Bernard Parker and Avi Spier. Particularly interested in the conversation about new business models. Cross border work models and green shoots created by collaborative communication across time zones and geographic borders. Living in a “golden age” of drug discovery with new tools and technologies. Uncertainty created by the general state of world affairs is making investment and funding more difficult. National health systems create opportunities to gather massive amounts of health data to provide preventive rather than reactive solutions. Companies should pay attention to geographies where economic incentives will enable capital to go further for both R&D and manufacturing investments.

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What key themes have we been tracking in Real Assets? Find out in these highlights from our 2024 Real Assets Market Overview: https://gag.gl/AbNc0K #realassets #realestate #infrastructure

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Different angle on the property market and also extremely interesting...some optimistic perspectives and some insightful global outlooks. After Vail Resorts investing in Switzerland, KKR is in talks to buy a European hospitality company, from a large global sovereign wealth fund...definitely worth the read... #investment #realestate #property #hospitality

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🚀 Great news for one of Wilmington‘s star companies! 🚀 🔹 Incyte Corp. (NASDAQ: INCY), based in Wilmington, has just announced a groundbreaking acquisition of San Diego-based Escient Pharmaceuticals in a massive $750 million all-cash deal. 🔬 This strategic move grants Incyte access to Escient’s innovative small molecule therapeutics, specifically designed to target neurosensory inflammatory disorders. With this acquisition, Incyte will enrich its already impressive portfolio, which includes treatments for skin disorders and autoimmune diseases. 🌟 Escients' leading drug candidates, **EP262 and EP547**, are poised to tackle severe inflammatory skin conditions and symptoms associated with liver disease, respectively. These candidates could potentially offer new, effective treatments for millions suffering worldwide. 💡 Hervé Hoppenot, CEO of Incyte, emphasized that this deal aligns perfectly with their strategy to develop differentiated medicines and could lead to significant new product launches starting in 2029. 📊 While Incyte's shares saw a slight dip to $51.60 in early trading, the future looks promising with this expansion. The deal is expected to be finalized in the third quarter, pending U.S. antitrust approval. 🧬 Stay tuned as Incyte continues to pave the way in medical innovation and improving patient care! #realestate #Pharmaceuticals #Biotech

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Third Avenue's Matthew Fine, CFA featured by Citywire USA as an "Elite Investor." The article "Time to invest like a young Buffett in 1999" highlights their focus on undervalued, asset-rich companies globally for substantial returns. As Matt notes, "a great balance sheet can be weaponized to create huge value" in difficult times. All opinions expressed in the foregoing are solely the opinions of the author and do not reflect the opinions of FLX Networks or its affiliates. You should not treat any opinion expressed in this video as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of that author’s opinion. #joinflxnetworks #thirdavenue #fintech #assetmanagement #wealthmanagement

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Well this isn't great. However, a degrading commercial real estate market highlights the importance of manager selection. Specifically, look for CRE managers that focus on deals: at the top of the cap structure via ground leases (for safety & inflation protection); that provide stability & consistency of distributions (for happy investors); with conservative break-even occupancy analyses (for riding out storms); and involving quality assets at distressed prices (for big upside potential). You may not know where to find a manager like that, but you do know where to find us.

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Unlocking Investment Opportunities with Tango CRE Join Tango CRE as they share high-performance strategies and insights into their investment ventures, including storage, multifamily, medical office, and land development. Learn how to connect with Tango CRE to explore exciting opportunities and build valuable relationships. #InvestmentOpportunities #TangoCRE #RealEstateInvestment #Multifamily #Storage #MedicalOffice #LandDevelopment

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While interest rates, inflation, and economic uncertainty continue to constrain dealmaking, the M&A landscape continues to show signs of life. Jon Marston, WM's Co-Founder and Co-Managing Partner, shares his perspective on the state of the M&A market - as talk of "green shoots" is increasingly appearing to be more than just speculative. Read the full insight here: https://lnkd.in/ep4G_fM7 #WilliamsMarston #CFO #Advisory #PrivateEquity #Mergers #Acquisitions

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Greystar has an impressive research function. Started in 1993 by Starwood co-founder Bob Faith, the company is a multifamily behemoth, managing over 800,000 units covering practically every geography. With nearly $80 billion of assets under management, it is larger than the largest publicly traded multifamily REITs. By comparison, Avalon Bay, the largest, has an enterprise value of $35 billion. The notes below were shared with me from their quarterly review of REIT earnings. I find this style of commentary immensely more valuable than most sell-side REIT coverage which tends to get lost in the weeds about a penny here or there on next quarter’s FFO. As an owner, developer, and manager Greystar is focused on the trends and dynamics impacting the actual economics of the rental housing market. Highlights from the report, including commentary on homebuilders and single-family rentals (SFR) in the comments!

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Industry publications are referring to Digital Infrastructure as the next frontier for real estate. Find out why DI is gaining interest among traditional real estate investors and what the parallels are between these investment models... https://lnkd.in/eqPGE4yF

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