StructuralVacancy
@StructuralVac
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CRE water cooler chatter. Personal Dox: Industrial product lead at investment/development shop out of TX.
Texas, USA
Joined May 2022
When leasing to a start-up business or new concept, the only person winning on a longer lease term is the leasing broker. Term is relatively meaningless for strength of cash flows before operational track record.
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Contractors will always say "yes" to a project bid. It is your job to manage their bandwidth and spread out the work to others, if contractor feels overloaded.
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em-dashes really went from being academic to being lazy. Feel for pre-GPT users of the em dash.
Small-but-happy win: If you tell ChatGPT not to use em-dashes in your custom instructions, it finally does what it's supposed to do!
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Telling data. And doubt 50 yr mortgages will help as it effectively equals renting from the bank as the landlord.
Great data from @Newmark this morning. The average spread to homeownership is $1,241 per month, roughly 2.7x greater than the long-term average. Sadly, the picture for homeownership is bleak at the moment.
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When I see a Marcus & Millichap OM disguised as IPA or TAG Industrial..
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Class B multifamily LPs bidding on industrial deals directly seems to be a growing trend on sales processes.
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New metal multi-tenant small bay being developed on the outskirts of metros. Pro: These have been leasing up quickly w/ healthy yields. Con: Risk of oversupply in near future, regardless of demand. Will face new development competition on rollover. Infill will outperform.
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Anyone know if this guy stayed in the business after leaving his Silicon Valley gig? Would be a highly sought after data center executive today. $NVDA
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87% of the time, it works 76% of the time!
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happy sub-4% fed funds rate day to those who celebrate.
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As private credit (pref equity, mezz) deployment urge fades and double-digit higher cap stack returns diminish, expect investors to shift towards taking on equity risk. Intuitively positive sign for capital flows into equity-stack side of CRE.
Blackstone’s Jon Gray says that the days of high returns in private credit are over
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FOMO attracts an outsized share of prospective tenants, investors, lenders, relationships, sales price, success. What creates FOMO? An exceptional product (asset, business plan, execution, self-care, organization).
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At what point does the market start treating the tariff tweets a non-event?
Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! President DJT (TS: 12 Oct 12:43 ET)
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v true. Theme + good buy + execution wins.
The Holy Grail of RE investing is NOT stealing an off-market deal. There usually aren’t enough of them to let you build a large business. The Holy Grail is a differentiated strategy or insight that lets you generate super-normal returns by while winning auctions.
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Litigation attorneys > corporate transaction attorneys in the age of AI drafting legal docs (to 80%+ completion) in my opinion, for new lawyers.
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Russell 2000 outperforming on the fed news. Smaller businesses stand to gain more from lower rates with cheaper financing options.
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Locked in an attractive forward swap rate yesterday for an upcoming acquisition closing rather than waiting for FOMC. Let’s see if it was the right move soon! Def. most optimal move r:r perspective.
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Seeing lots of AI cleaned up interior small bay warehouse pictures on leasing listings. More than a simple brush up. This isn't NY Craigslist apartment hunting where fake pics are going to fly imo!
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The speaker line-up exceeded expectations, but highlight is meeting another fellow CRE-X-Bro @chriswhatch irl here.
Headed to the @theallinpod Summit. First year attending. Let’s see what’s in store! Attendee list is 🔥
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