Good morning! This Monday should be a little easier to get through thanks to the short Thanksgiving week. Enjoy these 5 articles on the state of the commercial real estate market.
KKR Capitalizes Private Non-Traded REIT with $838 Million
Private equity firm KKR is moving $838 million into its KKR Real Estate Finance Trust Inc., a non-traded mortgage REIT focused on commercial real estate debt. In addition to this in-flowing cash, KREF has $1 billion of existing borrowing capacity.
Swiss Investment Firm Raising Funds to Expand US Multifamily Holdings
Varia US Properties, a Swiss investment firm, has acquired 39 U.S. multifamily properties since the end of last year. The company plans to acquire more money for investments through a public offering on the Swiss Stock Exchange.
Trump Said to Discuss Treasury Post with Blackstone’s Gray
Jon Gray, Global Head of Real Estate at Blackstone, is being considered by President-elect Trump for the position of Treasury secretary. The two met on Sunday to discuss issues like the economy, global capital markets and the world financial situation.
Demand for Student Housing Looks Strong for 2017
Based off the most recent data from research firm Axiometrics, firms plan on building nearly 46,000 beds of new, purpose-built student housing for the Fall 2017 school year. “It would be pretty hard to overbuild in most markets, there is such strong demand,” says Nat Kunes, vice president of product management at AppFolio Inc. “In most markets you could double the amount and not overbuild.”
Commercial Mortgages: What Could a Trump Presidency Mean for the Real Estate Industry?
Another day, another article speculating on Trump’s effects on the commercial real estate industry. Investors hope the President-elect rolls back the Dodd-Frank regulations that have made lenders less competitive. The most disruptive area is likely to be increasing interest rates, which have already risen since Election Day.