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Portfolio sales occupy their own unique category of commercial real estate transactions. The challenges, complexities and procedural nuances that make portfolio sales so distinctive also limit the number of parties that can make such purchases. In a standard commercial real estate transaction, familiar steps in a fairly standard process give prospective buyers plenty of time and opportunity to conduct their due diligence. From a buyer’s standpoint, there is little to no risk until your due diligence process is complete. You aren’t spending any money until you have the project under contract and, as long as you have the deal in hand, no one else can move on it. From the initial letter of intent through to the purchase agreement, and even up to the eventual closing, buyers can pull out of the deal for any number of reasons. Consequently, the overall obligation and financial exposure for prospective buyers is fairly minimal. Portfolio sales completely reverse the risk equation/analysis. The portfolio is marketed privately and the sale is conducted almost like a managed auction. Prospective buyers will typically submit letters of intent. Once the seller thinks they have a winner on the economics of the deal, they will move forward. Unlike a …

WASHINGTON, D.C. — The vast majority of foreign investors in U.S. real estate will either maintain or increase their level of investment from 2016 to 2017, according to a newly released survey conducted by the Association of Foreign Investors in Real Estate (AFIRE). AFIRE is a Washington, D.C.-based organization assisting and representing foreign investors, with over 200 members from 22 countries. According to the organization’s survey, 95 percent of its members will spend the same or more on U.S. real estate in 2017 as they did in 2016. Members of AFIRE are among the largest international institutional real estate investors in the world and have an estimated $2 trillion in real estate assets under management globally. The survey was conducted in the fourth quarter of 2016 by the James A. Graaskamp Center for Real Estate, Wisconsin School of Business. City-by-City Breakdown For the seventh year in a row, New York City was named the top U.S. investment city by AFIRE’s members, and for the third year in a row was No. 1 globally. The other top five U.S. cities, in order, were Los Angeles, Boston, Seattle and San Francisco. For the first time since the survey began in 1992, Washington, …

NEW YORK — Following a turbulent year in 2016, the U.S. economy and commercial real estate markets are positioned to perform well in 2017, according to Cushman & Wakefield’s latest U.S. Macro Forecast. The report provides Cushman & Wakefield’s forward-looking stance on the U.S. economy, commercial real estate and the risks/assumptions that underlie the forecast. “Even before the election, the U.S. economic fundamentals were showing signs of heating up,” said Kevin Thorpe, Cushman & Wakefield’s global chief economist. “We observed a big GDP number in the third quarter, accelerating wage growth, surging consumer confidence — a string of really robust trends were already forming. Now when you layer in the expected tax cuts and spending multipliers from the new administration, it creates an even stronger economic backdrop for the property markets heading into 2017.” Although it will take time for policy to form, Cushman & Wakefield expects that President-elect Trump, alongside a Republican-controlled House and Senate, will deliver fiscal stimulus measures that will further boost the U.S. economy and property markets. That said, Thorpe notes that some of the expected growth in fiscal policy will be negated by tighter monetary policy, higher interest rates, higher inflation and more global volatility. …

Working with CBRE’s vast clien­tele of retailers and developers, Melina Cordero, the compa­ny’s head of retail research for the Amer­icas, is constantly delving into trends and how they convert to dollars and cents. REBusiness Online’s sister publication Shopping Center Business recently met with Cordero to find out what trends retailers, shopping center owners and developers, and CBRE’s retail brokers are asking her to look into to get a glimpse of some national trends on the horizon. SCB: You spend a lot of time focusing your energy on trends for CBRE’s people in the field — and their clients. What are they asking you to look at today? Cordero: Today, it’s not just retail clients, it’s also clients who are thinking about incorporating retail into projects. They all want to know about placemaking. A lot of people are saying, ‘We know that we need to create these great places.’ To them, that is about curating a special mix of retailers, restaurants, entertainment, open spaces and other uses. There are no guidelines, rules or metrics for that. A lot of it is what is placemaking; how to create a destination; and what has worked for others? They ask us a lot to …

Streetscapes create a sensation of depth and charm that beckon to passersby. People are drawn to lush landscapes, open green spaces and great tree canopies. They feel welcomed in these spaces and want to share them with others. Many new developments aim to provide streetscapes and open spaces that create holistic connections, enhancing their projects with authenticity and community. Here are some insights into how to create these. Building Community Through Authentic Connections + Open Spaces Strategically integrating retail and open spaces brings benefits beyond the satisfaction of the immediate customers. It contributes to the entire district or neighborhood as these elements are knit into the urban fabric. Thoughtful planning should address more than tenant mix and leasable space; it needs to consider quality of open space and the surrounding environment. Today’s consumer has an appetite for quality. Young professionals are flocking to new developments that support a work-life balance. An individual who lives or works near a new development can bring his or her family and friends to dine, shop, run errands, and play, extending their time spent together and within the development. Retail can benefit from this type of place-making by creating destinations that people want to stop and use …