SoCal Media Tech Leading a Transformation in Office Space

by Steven Orchard on May 16, 2012

in Capital Trends

I attended Bisnow’s Silicon Beach/RE Tech Summit this morning. It focused on the driving factors that have lured major tech companies into the market, where the explosive growth has occurred, and what developers/owners are providing to make sure these companies stay for good. Panelists included Wayne Ratkovich and Howard Stern.

By all reports, creative office is hot. Los Angeles is gaining ground on the Bay Area for tech tenants, as media and entertainment (bastions of the LA economy) are becoming synonymous Read the full article →

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Globe St. TV Interview

by Steven Orchard on April 23, 2012

in Capital Trends

I had a chance to be interviewed by Globe St. TV a couple of weeks ago.  It’s a bit long and boring, but if you’re so inclined it can be viewed here.

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Equity Trends: Western Real Estate Business

March 19, 2012

Link: Original Article in Western Real Estate Business
The disaster recovery process in commercial real estate is only beginning. Resetting to a realistic basis requires a capital infusion at the top end of the stack, so finding equity solutions will remain a key component of transactional activity in 2012. Real estate operators seeking joint venture equity [...]

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Swaps and Rate Hedging: Pay Attention to the Details

February 21, 2012

You’re rate locking with your bank, and spreads just widened an extra couple of basis points due to pandemonium in Greece, oil embargos in Iran, or a decline in the global Polar Bear population. Familiar story, familiar turnout, but you can’t blame your bank for fluctuating rates in the open market, right? Well, [...]

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Note Acquisition & DPO Financing

February 7, 2012

New $450m equity fund for distressed note acquisitions, DPOs, etc.
Minimum $10m investment, up to $40m or more.
2-4 year hold
Minimum yield expectation: 1.5x multiple and high teen IRRs
Mostly deployed as equity, but can also structure as senior or mezz.   Yield expectation is the same regardless.
Typically close quickly with all cash, then clean up title and [...]

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Private Equity Flows to Senior Housing in 2012

February 6, 2012

Healthcare REITs went on a $20b senior housing spending spree in 2011. Private equity may follow suit. Increasing appetite for senior housing is indicated by the emergence of new funds, increasing allocations at established funds, and in-flows of foreign capital for the asset class. Interest in the space is driven by rising [...]

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