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Jeremiah Kane
Jeremiah Kane is a Director with Paramount Group. He holds an MBA in Real Estate and Finance as well as a BS in Economics from Wharton.
Recent Activity
The WSJ has an article on the KKR-Beazer JV focused on Single Family for Rent. They are starting in Phoenix and Las Vegas. I think the opportunity in greater in markets that haven't experienced such deep levels of distress and... Continue reading
Posted May 9, 2012 at CRE Commentary
Matt Yglesais has an interesting post on the Multifamily market. I think his conclusion is largely right , funding for ground-up development is still not back in-full. Multifamily remains the hottest sector from the capital markets side but construction lending... Continue reading
Posted May 8, 2012 at CRE Commentary
I am going to write a series on the Single Family for Rent strategy that is getting some press. Today I thought I would highlight one aspect that is interesting - tenant longevity. While single family rentals clearly have operational... Continue reading
Posted May 8, 2012 at CRE Commentary
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All product types face the challenge of obsolescence. Column spacing evolves, office and residential ceiling heights creep upwards (my thoughts on ceiling height here). Clear heights have continued to increase for state-of-the-art industrial product. One interesting trend that has the... Continue reading
Posted Feb 14, 2011 at CRE Commentary
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The latest Green Street CPPI is unchanged from December up to 81.9 from a low of 61.7. The spread between Green Street and Moody's remains as the Moody's numbers are growing slowly. The 80% is in line with my anecdotal... Continue reading
Posted Feb 14, 2011 at CRE Commentary
I previously wrote about the 600 Lexington transaction as an important market indicator. Boston Properties’ (BXP) purchase of 510 Madison is another important bell-weather for the state of the Manhattan market. Since BXP is publicly traded many of the details... Continue reading
Posted Nov 19, 2010 at CRE Commentary
While the commercial real estate trade publications and the industry commentariat are rightly focused on the recovery of the capital markets, the efforts of borrowers to restructure their obligations continues. It's important to understand the history of a property and... Continue reading
Posted Nov 16, 2010 at CRE Commentary
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Almost definitionally, one of the key drivers of the U.S. office real estate market is job growth. To be sure, trends in the demand for space-per-worker impact total demand, but fundamentally, job growth creates demand growth. The most recent employment... Continue reading
Posted Nov 8, 2010 at CRE Commentary
1) The Wall Street Journal: Real estate investors are moving from opportunistic real estate funds into core real estate funds. 2) Taking the abuse of free parking to new levels. One homeowner parks 50 cars on the streets near his... Continue reading
Posted Nov 5, 2010 at CRE Commentary
I have started to hear the phrase "we live in a relative world" or similar sentiments much more recently. A "relative world" is shorthand for thinking about real estate as an asset class that competes for capital against other invest-able... Continue reading
Posted Nov 4, 2010 at CRE Commentary
Vornado and Pershing Square recently disclosed a 9.9% and 16.5% stake in J.C. Penney respectively. The disclosure recalled the glory days of the Op-co/Prop-co structure and hinted at its return. One aspect to watch if this transaction progresses is the... Continue reading
Posted Oct 25, 2010 at CRE Commentary
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The most recent Green Street CPPI showed commercial real estate values have increased almost 30% from the bottom in 2009. Green Street notes three factors that contribute to this increase. 1) plunging return hurdles (this is clearly the case), 2)... Continue reading
Posted Oct 22, 2010 at CRE Commentary
One of the key themes that emerged from the Wharton Zell-Lurie Real Estate Center conference this past Tuesday was an expectation of increased transaction volume for properties that are controlled by lenders. While these transaction have been “expected” for some... Continue reading
Posted Oct 21, 2010 at CRE Commentary
1) An interesting commercial real estate blog: Vanilla Shell 2) Good reasons to phase out the penny. 3) Felix Salmon on Basel III 4) Perhaps the most prominent New York venture capitalist's thoughts on real estate. Continue reading
Posted Sep 14, 2010 at CRE Commentary
San Francisco has implemented a dynamic pricing system for street parking. Here is the site. Paramount owns the parking garage at 75 Howard Street and it will be interesting to see how demand changes based on these new rules. The... Continue reading
Posted Aug 23, 2010 at CRE Commentary
There has been a lot of discussion on parking and minimum parking requirements in the last week. I discussed some of the issues in a previous post. There are several issues that are often grouped together. The first is legal... Continue reading
Posted Aug 17, 2010 at CRE Commentary
Glaeser, Gottlieb, and Gyourko have a new paper analyzing the impact of interest rates on housing price appreciation.While lower interest rates clearly have a positive impact on pricing, the magnitude of that impact is hard to determine exactly. This study... Continue reading
Posted Aug 3, 2010 at CRE Commentary
1) Great overlay of the historic plan for Washington D.C. and a current map. 2) It is always interesting to read Thomas Barrack's thoughts on the market. 3) For interesting discussions on economics and economic principles in other areas of... Continue reading
Posted Jul 28, 2010 at CRE Commentary
There is an interesting new paper out from Jing Wu, Joseph Gyourko and Yongheng Deng on the Chinese housing market. The FT covers the paper here. The headline number of 800% growth since 2003 jumps off the page. Although the... Continue reading
Posted Jul 21, 2010 at CRE Commentary
I needed to re-check the date on yesterdays Wall Street Journal article on lenders "Extending and pretending" The article isn't wrong - deferring maturity dates and rolling existing loans has been an important tactic for many lenders - the timing... Continue reading
Posted Jul 8, 2010 at CRE Commentary
I wanted to take the opportunity to thank Paramount for their sponsorship of my team for the Manhattan Island Marathon Swim. The swim was a 28.5 mile counter-clockwise circumnavigation of the island of Manhattan on June 12th. The Paramount team... Continue reading
Posted Jun 30, 2010 at CRE Commentary
As predicted in this post. The Chinese government announced today that they would let the Yuan "float" in a limited way. What are some of the potential impacts for real estate: 1) On the retail side there may be an... Continue reading
Posted Jun 21, 2010 at CRE Commentary
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The Green Street Index showed a small increase in May and has increased 20% since the bottom. This marks another month the Green Street Index has diverged from the Moody's Index. Continue reading
Posted Jun 10, 2010 at CRE Commentary
The Moody's CPPI index declined .5% in March. The index appeared to be less influenced by distressed sales than the previous reading - perhaps indicating that sellers were more willing to part to with assets at lower valuations. It is... Continue reading
Posted Jun 2, 2010 at CRE Commentary
1) WSJ article on funds returning commitments to investors. Contra this article, I expect the pace of investment in increase as we emerge from the recession and improved certainty increases the willingness of players to transact. 2) I think this... Continue reading
Posted May 27, 2010 at CRE Commentary