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Thursday, October 25, 2012

Are Boomers the Reason Urban Rents Are Rising?

We know that home ownership is downsuper-tiny and very-narrow houses are springing up, and urban rents are rising. Here's another trend to add to the mix: .
On Sunday, the website posted an infographic on their blog examining the renting habits of baby boomers and their offspring. RENTCafĂ© project manager Catriona Orosco explained the trend in an email:
What we're seeing is a wholesale recalibration of expectations. Americans just starting their professional lives are realizing that it will be less likely for them to be able to afford the things their parents had, so they are making different choices about how to live. They also crave flexibility, so if a job or personal opportunity presents itself, they can say yes without being tied to a mortgage.
As for Americans nearing retirement, they are being cautious with the resources that are still available to them — they're downsizing not just for convenience, but because they want to be financially smart and prepared for the future. Maybe the best way to put it is that we're all just being a bit more realistic about our American dream these days.

Wednesday, October 17, 2012

Can This Mall Be Saved? Need Lower Debt, Deep Pockets

Despite Major Risks, Some Gutsy Owners and Investors Are Hoping To Cash In On Value-Add B-Mall Turnarounds and Repositionings

Last week, CoStar News reported on the daunting challenges faced by hundreds of outmoded malls in remaining relevant in a increasingly Darwinian retail environment. In this, the second of a three-part series, we look at the signs that may signal a mall's days may be numbered, and how some gutsy investors are taking on the challenge of reviving moribund properties. 

According to retail property experts, changes in a couple of key vital signs often provide the first signs that a mall may be in trouble. 

Consistent declines in retail sales per square foot over an extended time is one big warning sign, according to Gerard V. Mason, veteran retail specialist and executive managing director of Savills US. Higher quality class A malls should take in at least $400 per square foot, while a decent B-class mall will yield about $350 a square foot. Any time a mall's sales fall below $300 per square foot, it's likely in very serious trouble, according to Mason. 

Monday, October 1, 2012

Best Multi-Family Investment Opportunities

CPE-TV interviews Starpoint Properties CEO Paul Daneshrad on the best locations for multi-family property investment.

Watch the full clip here.