• Legacy builder

    • 2014-09-29
    • Wendy Broffman

    Rick Graf believes in good, old fashioned hard work. "If you work hard, you will get ahead and, if you are smart and stay out of trouble and do the right thing, you will be rewarded."

    "That's certainly been the case in my career and I've been blessed beyond my wildest imagination," said the president and CEO of Dallas-based Pinnacle.


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  • MHP Reflections

    • 2014-09-29
    • Linda Hoffman, Publisher

    Most of us have worked with a Bill Gross, so to speak. You know. The "smartest-guy-in-the-room" type who doesn't play well with others. The "Bond King" recently moved his toys to another firm, a street over in Newport Beach, Calif.

    From the tales of his tirades, it sounds like he missed his yoga class. Go figure. Even the laid-back, but


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  • The lost decade

    • 2014-09-29
    • Ben Casselman, fivethirtyeight.com

    Twenty-five years later, Americans are older, more diverse and more educated. We are less likely to be married and more likely to live alone. Work is divided more evenly between the sexes. One thing that hasn't changed? The income of the median U.S. household is still just under $52,000.

    The government's release in September of income an


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  • Crowd-funding real estate

    • 2014-09-29
    • Vanessa Grout

    Oculus raised money on Kickstarter in September 2012 and was purchased this year by Facebook for $2 billion. The prize for the 9,522 Kickstarter investors who ponied up $2.4 million for Oculus in 2012? They had been promised only "posters, T-shirts and, for more generous backers, early prototypes" of the headset.

    In fact, "equity crowdfu


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  • The sinister side of big data

    • 2014-09-29

    But there is also a growing awareness that important concerns have to be addressed if these hopes are to be realized. If the four V's -volume, velocity, variety and verification -define what big data is, then four P's- practicality, privacy, power and privilege- define the hurdles that big data must clear in the race to achieve a sustainable future


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  • Sares Regis expands portfolio

    • 2014-09-29

    The new acquisitions total 300 apartments in Portland and North County San Diego, and for a portfolio of eight properties totaling 1,220 apartments out of the fund formed last year. The fund was initially launched with $114 million, giving it the ability to acquire more than $300 million in assets.

    Both communities-Alta Vista in Escondid


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  • The marshmallow test for grownups

    • 2014-09-29
    • Ed Batista

    Follow-up studies with the children later in adolescence showed a correlation between an ability to wait long enough to obtain a second treat and various forms of life success, such as higher SAT scores. And a 2011 fMRI study conducted on 59 original participants-now in their 40s-by Cornell's B.J. Casey showed higher levels of brain activity in the


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  • The next bubble?

    • 2014-09-29
    • Jay Parsons

    Such high-water marks make it appropriate to ask the obvious question: Is multifamily reaching a bubble?

    This is an especially critical question for banks because they have quickly become major players in the multifamily business. Since the start of 2013, banks have funded 82.5 cents of every new dollar, on net, loaned for multifamily ho


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  • Unleashing the power

    • 2014-09-29
    • Lauryn Schimmel

    The multifamily housing industry is one of, if not, the most fragmented industry in the United States.

    Why? Follow the money. There remains no national housing investment that can attract capital, or secure national market control. And thus, there can exist no financial synergies on said scale.

    Nor is there a technology platfo


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  • Riding out the storm in D.C.

    • 2014-09-29
    • Peggy Shaw

    "I love D.C.," said Camden Property Trust CEO Ric Campo during the apartment REIT's second quarter earnings conference call at the beginning of August.

    "That's why we have a big concentration there," he said of Camden's 19-property, 6,405-unit portfolio in the nation's capitol, where the REIT recently completed construction of the $101.3


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  • But everyone else did

    • 2014-09-29

    The research paper, "The Role of Contagion in the Last American Housing Cycle," written by Wharton real estate professors Joseph Gyourko and Fernando Ferreira, and doctoral students Anthony DeFusco and Wenjie Ding, examines the boom, which crested in the middle of the last decade. It was followed by a woeful tumble that caused many homeowners to ow


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  • The great divide

    • 2014-09-29
    • Rebecca Knight

    How should you relate to employees of different age groups? How do you motivate someone much older or much younger than you? And finally: what can you do to encourage employees of different generations to share their knowledge?

    What the experts say
    As people work longer and delay retirement, internal career paths have changed


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  • Why we hide some of our best work

    • 2014-09-29
    • Ethan Bernstein

    But that much transparency can have a dampening effect on performance. Creativity and productivity suffer because the desire for control is so great. And that's not an acceptable tradeoff, even in an age of reputation management, because this also happens to be an age of innovation and complex problem-solving.

    You can see these consequen


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  • Shopping apartments

    • 2014-09-29
    • Jim Buchta, Janet Moore, Star Tribune

    The view off the balcony of Deb McKernan's new apartment is a Cheesecake Factory and a big parking lot-and she's perfectly fine with that.

    "I know it's going to sound corny, but if I can't have Michigan Avenue in downtown Chicago, then I'm going to have this," says McKernan, a pioneer in one of the newest trends in Twin Cities housing-a


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  • A condo state of mind

    • 2014-09-29

    Post Luminaria was completed in 2002 at a cost of $52 million and contains 138 apartments and approximately 9,400 sq. ft. of retail space. The property was owned in a consolidated joint venture in which Post held a 68 percent interest.

    Post Toscana was completed in 2003 at a cost of $97 million and contains 199 apartments and approximate


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  • Crunch time

    • 2014-09-29
    • Andrew J. Hawkins and Chris Bragg, crainsnewyork.com

    The state laws regulating rent and co-op conversions expire in June 2015. Republicans in the Senate have long resisted efforts by Democrats and tenant advocates to strengthen those laws to make it more difficult for property owners to move their apartments onto the free market.

    About a million units citywide are covered by rent regulatio


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  • Multifamily investment bright while household formation remains dim

    • 2014-09-29
    • Mark Heschmeyer, costar.com, and Nick Timiraos, wsj.com

    Even as construction of new apartment buildings hit the highest monthly construction pace since the beginning of 2006, the latest absorption rates for unsubsidized, unfurnished, newly-built apartments have kept pace. The Census Bureau reported that the latest 3-month and 6-month absorption rates for apartments had risen to 64 percent and 83 percent


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  • The Closer

    • 2014-09-29
    • Rebecca Henderson

    The risk of climate change is real, immediate, and very serious. If the vast majority of the doctors I consulted told me that consuming copious amounts of butter significantly increased my risk of a heart attack, I would take out a little "insurance" and cut back on my butter consumption.

    It is of course possible that the 95 percent-plu


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