Universe Holdings' Henry Manoucheri Explains Why He Likes Buying
Rent-Controlled Property
Even with the looming of Prop. 10, the measure that could possibly repeal the Costa-Hawkins Rental Housing Act and allow local municipalities to enact rent regulations, Henry Manoucheri sees some opportunities.
Manoucheri, the CEO and founder of Universe Holdings, is against rent control. But if some form does come into fruition, his company will continue investing in rent-controlled properties.
While some investors may shy away from acquiring properties under rent regulations because of limits on profits and stale tenant mobility, Manoucheri embraces it. His company has 16 properties in rent-regulated areas in California, he said. In March, his company…
Read Full Story
|
|
|
Top stories on Bisnow.com
|
As Coworking Grows, Los Angeles Ranks No. 2 In Nation For Flex Space
If coworking in Los Angeles continues to grow at its current pace, companies that provide flexible spaces will surpass the leasing activity of the legal, government and insurance sectors by mid-2019, according to a report by CBRE.
The CBRE market…
Read Full Story
|
|
|
How Vertical Integration Unlocked Exponential Growth For This Leading Multifamily Lender
| PRESENTED BY: |
|
CIVIC Multifamily |
| |
|
When Wedgewood, one of the leading acquirers of distressed residential real estate in the U.S., wants to provide multifamily investors with investment opportunities, it calls on the CIVIC Multifamily lending team. Established in 2014 to meet the needs of investors who…
Read Full Story
|
|
|
|
|
|
The 10 Largest North American-U.S. Real Estate Debt Funds To Close In The Last Decade
Alternative lenders have become a dominant force in the commercial real estate debt market following the financial crisis of 2008.
Their ability to quickly deploy capital and originate more creative loans with flexible underwriting standards has made them an attractive financing vehicle for borrowers, giving traditional banks — which are governed by very stringent federal regulations — a run for their money.
Pension funds, private equity firms, sovereign wealth funds and other institutional players are giving rise to the competitive real estate debt landscape. Since 2008, the number of private real estate-focused debt funds to close has nearly doubled from 39 funds raising a collective $12.5B in 2008 to 62 funds raising a total $32.3B in 2017, according to Preqin data. As of September, Preqin tracked 39 active real estate debt funds on the global market having raised $19.8B.
Click here to read the full story. |
Prologis, Norges Bank Sell $1.1B Industrial Portfolio To Singapore's Mapletree
The largest owner of distribution centers in the U.S. just trimmed its portfolio.
Prologis has sold a $1.1B industrial portfolio it owned in a joint venture with Norges Bank Real Estate Management, the real estate arm of Norway's sovereign wealth fund, to Singapore-based Mapletree Investments, Reuters reports.
Of the properties included in the sale, 40 are located in the U.S. and 46 are spread across Europe, CoStar reports. The American properties are distributed between the Seattle, Chicago and Dallas areas and total 6.6M SF, and the European…
Read Full Story
|
|
|
Inside Brookfield's Experimental Retail Incubator
When Brookfield picked up seven storefronts on vacancy-ravaged Bleecker Street in Manhattan's Greenwich Village, the company vowed to return the strip to its former glory. The Bleecker Street buy — Brookfield paid New York REIT $31.5M for the properties — was billed as an opportunity to create a testing ground for new retail concepts equipped to weather the worsening retail storm.
This week, the Canadian equity giant revealed its first step in the revitalization plan, an initiative dubbed “Love, Bleecker,” which includes new stores, art installations and cultural programming.
Click here to read the full story. |
|
|
|
|
