Wednesday, July 31, 2013

Chrome Divas To Hold Event for Stephanie Spielman Fund For Breast Cancer Research

Not commercial real estate related, but an incredibly important cause to mention.

The Columbus chapter of Chrome Divas, a national group of charitable-minded motorcycle-riding women, are holding their annual "Rockers For Knockers" fundraiser to benefit the Stephanie Spielman Fund For Breast Cancer Research.

The event, in partnership with The Blitz, 99.7 FM WRKZ, takes place August 10 at Screamin' Willies in Columbus. Eight bands are scheduled to play during the fundraiser, which runs from 3 pm on the 10th, to 2:30 am Sunday, August 11.

A rockin' event for a very important cause. Hope you can come out, and/or support the fight against breast cancer. For tickets, go to:

Monday, July 29, 2013

I Like 'Em Raised N Glazed, But . . .

This Central Ohio boy prefers his donuts like many southerners -- raised n glazed.

Raised in this area, the home of the Max & Erma's "Garbage Burger," the Thurman Cafe's "Thurman Burger," and the birthplace of Wendy's, which gave us "Hot & Juicy" burgers going way back to the 1970s, gives me a unique aspect on burger quality.

But I have to draw the line on a Krispy Kreme Burger, which is now available at the currently running Ohio State Fair. Bogey & Bacall, Country & Western, Rhythm & Blues, Bacon & Eggs . . . yeah they go together well.

But a huge dripping burger sandwiched between two Krispy Kreme glazed donuts? Nope. Even I have my limits . . .

Thursday, July 25, 2013

Prudential Co-Parent, Brookfield, Completes Fundraising for $4.4B Global Real Estate Fund

CRE Powerhouse Brookfield Asset Management, which, with Berkshire Hathaway, owns HSF Affiliates LLC, operator of Prudential Real Estate, announced it has completed fundraising for a $4.4 billion global real-estate fund, one of the biggest property funds raised since the economic crisis.

It marks a new direction for the giant asset manager, according to The Wall Street Journal.

The fund's amount was well ahead of the firm's official target of $3.5 billion, and even ahead of the Brookfield's internal goal of reaching $4 billion, fund officials said. The fund looks to buy individual buildings and property-related companies, primarily in the U.S. and Western Europe. Fund officials say they also invest in Canada and Brazil and other markets, and have made significant investments in Australia. The new global fund already has invested about $1.1 billion, including paying about £210 million ($322.6 million) in June to acquire EZW Gazeley, a U.K.-based logistics firm with industrial properties throughout Western Europe. The fund also invested about $500 million last year to acquire Australia's Thakral Holdings Group, which owns hotels, office-development rights and other real estate in that country.

Things are looking up. I'm proud to be associated with two such influential companies as Brookfield Asset Management and Berkshire Hathaway.

Thursday, July 18, 2013

Disclose Disclose Disclose

While the headline for this post could easily be "DUH," the content is as current today as it was a decade ago.

If you're pursuing a CRE transaction, disclose any known financial issues up front. Yes, there are lenders that will put your various body parts through the proverbial ringer. But knowing any "defects" in a financial statement upfront will go a LONG way toward moving a transaction along.  I routinely counsel my buyers looking at investment properties on this very subject. Often asking some hard questions. And I'm not talking about the individual or two-doc LLC looking to buy a small building. Financial "issues" during the Great Recession have impacted buyers at all levels.

Steve Bram of George Smith Partners reiterates this common sense theme in a bylined article appearing at this week. Now, I do take exception to his saying we are out of the Recession. But that's my personal professional opinion. Nevertheless, the main theme is right on!

His bottom line? Like mine. Disclose everything to potential lenders. Surprises freak them out.