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Insights

Friday Market Recap

Weekly Assessment of Global Real Estate Trends

Equinix, Inc. (EQIX)

In the U.S.: With both January core CPI and core PPI rising to the upside, speculation increased that the fed might be more aggressive and raise rates four times this year. President Trump is calling for a $0.25 hike to the federal gas tax. The gas hike would be the first since 1993 and is being touted by the

Highwoods Properties, Inc. (HIW)

  In the U.S.: A volatile week of trading indicated that a correction was underway with the S&P falling over 5%. The main catalyst to the downside was rising treasury yields which were spurred on by deficit fears. Congress passed a sweeping budget deal on Friday morning following a short lived government shutdown. The bill, which would add $500B

VICI Properties, Inc. (VICI)

In the U.S.: Healthcare insurers fell sharply this week as Berkshire Hathaway, Amazon, and JP Morgan announced that they would create a non-profit company to address healthcare for their US employees. The companies added that the initial focus will be on technology solutions that will provide employees and their families with “simplified, high-quality and transparent healthcare at a reasonable

Featured Global Market Reports

Browse finance headlines from around the globe we’re keeping an eye on

The Benefits of Global Investing

With 2013 behind us, it is worth noting that Europe was the top performing global region within the FTSE EPRA/NAREIT Developed Index. Europe’s total return greatly exceeded those of Asia and North America, for dollar denominated investors, although Asia was the best performing region on a local currency basis. Europe’s strong performance comes on the heels of a good

Mexico: The Rise of Fibra

We conducted three days of due diligence on the nascent REIT industry in Mexico (two days in Mexico City and one in Monterrey), our itinerary filled with back-to-back meeting with management teams of five of the seven exiting Mexican REITs, called Fideicomisos de Infrastructura y Bienes Raices or Fibras for short. Our discoveries: Mexico is experiencing a manufacturing renaissance. 

A Greek Tragedy…or is it a Comedy?

A Greek Tragedy… or is it a Comedy? Clearly, it is a little of both. As the new Greek government fails to form a coalition, the entire “progress” of the Troika’s (IMF/ECB/EC – and Germany) negotiations reverts back to uncertainty and talk of a Greek exit from the Euro. It is comical that Greece can hold the entire Eurozone

UK CEO Panel Talks London Market

Our European analyst recently attended the BAML UK Real Estate conference in London.  One of the panel discussions involved five CEOs of prominent UK REITs talking about the state of the London real estate market.  The panelists were John Burns (DerwentLondon), Chris Grigg (BritishLand), David Atkins (Hammerson), David Fischel (Capital Shopping Centers), and now retired Francis Salway (Land Securities).

Domestic & Capital Market Insights

What’s happening at home, outlooks & reviews

4Q17 Capital Market Review

Risk assets enjoyed a smooth upward ride in Fourth Quarter. Investors are learning to ignore short-term political volatility and any suspense surrounding intermediate-term uncertainty involving the next chairman of the FOMC and the Republican tax plan seemed manufactured at best. There was some passing of the baton back and forth between secular growth (FANG stocks) to cyclical (airline, oil

4Q17 Capital Market Outlook

During their last meeting of 2017 held on December 12-13, the Federal Open Market Committee decided to raise the target range for the federal funds rate another 25 bps. There were two dissenters to the decision, Charles Evans and Neel Kashkari, both citing a rate of inflation well below the Committee’s 2% target. Governor Kashkari also cited concerns about

3Q17 Capital Market Outlook

Third Quarter 2017 is the fifth in a row that the Wilshire US REIT Index has underperformed the S&P 500 Index, an unprecedented losing streak based primarily on the assumption that deregulation and tax cuts at home and a broad based economic recovery abroad will jump start an economy (and earnings) in its eighth year of expansion, leading to

3Q17 Capital Market Review

Global synchronous recovery seems to be the financial community’s mantra for 2017, used to ward off evil spirits associated with tightening monetary policy, particularly in the US. Although Balkanization across the globe and climate change pose great long-term threats, their symptoms (Charlottesville, Catalonia and the severity of Hurricanes Hugo and Irma) resulted in only short-term market volatility and, thus