When news hit on Monday morning that a Blackstone entity was taking Apartment Income (AIM Communities) private, the market quickly tried to make sense of the $10 billion headline purchase price. The $39.12 per share price represents a 25% premium to where the stock had traded, but that is of little consequence to anyone not holding […]
Elon Musk is publicly defending freedom of speech in Brazil and claiming that orders issued by Alexandre de Moraes, a Justice of STF (Brazil’s Supreme Court), have censored certain people and opinions. Musk says these orders are illegal, and that they compel his platform X (former Twitter) to shut down its domestic operations and be […]
The real estate industry is on the verge of significant infrastructure improvements, driven by the rise of electric vehicles (EVs) and the U.S. government’s commitment to phasing out internal combustion engines by 2035. As EV ownership becomes more prevalent, property owners and managers must anticipate the growing demand for charging stations, a critical factor in […]
Washington, DC is going through its annual budget charade. The US Congress is no longer capable of approving individual budgets and appropriations. Instead, a handful of leaders make omnibus deals among themselves and demand the people’s representatives rubber-stamp the result. Otherwise, the government shuts down. It’s an idiotic way to govern, or, more accurately, to […]
According to the Wall Street Journal, the U.S. office market faces rising vacancy rates, abundant sublease space, and increasing defaults. Despite these challenges, office rents remain resilient, as landlords are reluctant to lower prices due to the potential impact on property values and loan covenants. Landlords are offering generous concessions to new tenants, such as […]
The Washington State House has passed a bill to cap rent increases at 7 percent a year. The Senate has yet to vote on it, and the governor has not taken a position. If enacted, this law would hurt renters, including low-income renters. Advocates of the legislation call it “rent stabilization” rather than “rent control,” because “rent […]
Property tax remains one of the largest state and local tax obligations. Nearly all local taxing jurisdictions, including municipalities, counties, and boards of education, generate tax revenue through the imposition of property tax, which is one of the most substantial sources of local government revenue. For many businesses, property tax is the largest state and […]
Nareit analysis of data from Preqin, a financial research firm that tracks investments in alternative assets, indicates that the use of REITs by pension plans has been increasing, particularly among the largest, most sophisticated plans. As of January 2024, more than 1,800 defined benefit (DB) pension plans with more than $10 trillion of combined assets […]
The world is in turmoil. The war in Ukraine grinds on, with persistent calls for the United States to continue supplying Ukraine’s war effort. China may be poised to invade Taiwan in the coming years and assert its ambitions throughout the South China Sea and elsewhere in East Asia. Israel continues its war against Hamas […]
Argentine President Javier Milei’s address to the World Economic Forum was, as you’ve no doubt heard, a real corker. The principles of classical liberalism have not been so vehemently promoted on the world stage since the Gipper and Margaret Thatcher left office. If the Falklands could be offered as a prize for best speech, I’ve no doubt the Iron Lady […]
