PERE MD

MD of global PERE firm. Actively investing across major CRE sectors in gateway markets. Here for some banter with the #retwit community.

[PERE MD @PERE_MD]

@jordymaui Can you do a version showing how to do this on a mini pc?

[PERE MD @PERE_MD]

@truckdriverpleb

[PERE MD @PERE_MD]

@on9FrancisYu @truckdriverpleb

[PERE MD @PERE_MD]

Latest Goldman Sachs Research estimates that #datacenters power demand driven by AI workloads, will grow 160% by 2030.

[PERE MD @PERE_MD]

The engineering for One Central Park by @FrasersPropAus is incredible. This is the future of sustainable mixed-use urban design

[Erik Berlin @sferik]

2012

[Hiten Samtani 🗞️ @hitsamty]

Fresh as a Parisian baguette 🥖 in your inbox: Latest ed. of The Promote looks at a multi gold rush at the biggest RE funds, plus Barnett's chutzpah barometer-smashing deal. Enjoy!

[PERE MD @PERE_MD]

New term for NIMBYism: "BANANA"

Build
Absolutely
Nothing
Anywhere
Near
Anything

[PERE MD @PERE_MD]

KKR is really on a LinkedIn content push right now.

[Tanner Webster @twallyweb]

If I’m understanding this correctly:

I can pay ~$200,000 for solar panels for my opportunity zone project:

Have a federal 30% tax credit for $60k.

A state tax credit of $20k

Depreciate $170k in the first year through the bonus depreciation

Then add $13.5k of NOI to my property while using attractive financing

not recapture any of that depreciation if I hold for 10 years

And get better terms from banks for the CRA credits and renewable energy?

Nice!

[PERE MD @PERE_MD]

Felt like a good time to dig this one up. Appears as though next year will have mixed results depending on what space you operate within

[PERE MD @PERE_MD]

Is anyone in the real estate industry actually having a good year in 2023?

Be honest?

[Bill Ackman @BillAckman]

I thought @elonmusk’s interview with @andrewrsorkin was one of the great interviews ever. Musk is a free speech absolutist which I respect. I think he is entirely correct that he and @X are treated unfairly and inconsistently by advertisers.

@tiktok_us @instagram @facebook and others have enormous amounts of problematic content, antisemitic and otherwise, but the advertisers don’t boycott those platforms.

Musk is targeted because the other media organizations view @X as a competitor and any time his name is in an article about controversies, it draws clicks. MSM is incentivized to attack him as it actually drives attention to their sites and therefore more revenues. It is these attack articles by other media organizations that put pressure on the @Disney’s of the world to stop advertising on X.

If Bob Iger would carefully examine the facts, he would likely continue to advertise on X, but Disney caves to public pressure rather than do the right thing. Meanwhile Disney invests heavily on TikTok, likely alongside videos of kids teaching other teenagers to be anorexic and worse. I am sure Nelson Peltz can fix this when he joins the Disney board.

X presents the opportunity for advertisers to access an incredible global audience that is not available elsewhere. And it is cheap compared to other alternatives because of current circumstances.

On Musk and antisemitism:

After examining the facts, it was clear to me that Musk did not have antisemitic intent when he responded with the ‘actual truth’ tweet, and further clarified thereafter.

I thought he made what he meant extremely clear in the @andrewrsorkin interview, namely, that Jews are drawn to support ‘oppressed’ groups and causes through various non-profits due to our history of being an oppressed minority.

Musk points out correctly that a number of these organizations and their members support Hamas. And he is correct in saying that Jews should rethink support for organizations that seek their elimination.

Many Jews are doing that right now.

To use a Muskism, Earth is fortunate that @X is owned by an individual that is largely insulated from financial and other influence. That said, perhaps some form of very carefully governed trust would be a better forever owner than any individual.

@PershingSqFdn invested in the Twitter privatization in support of free speech. Whether we make a profit on our investment is not important to us as we never intend to sell our interest.

I am more inclined to like and support companies that advertise on the platform because I appreciate their support for free speech. I have actually bought products I learned about from ads on @X. I can’t think of another example of my responding to direct advertising other than on X.

Unfortunately, recent (and society’s long-term experience) with non-profit governance, see @OpenAI, certain private universities etc. should not give anyone confidence that a traditional non-profit would be a better owner of X than Musk.

Perhaps some day the ownership of X should be distributed to each American, one share for each American during their lives and one for each person born, with a charter which permanently vests the free speech principles by which it operates.

Until then, we all should be grateful that X is owned by Musk.

[PERE MD @PERE_MD]

@ClarenceWongCRE What is great to see is the amount of capital flowing into the industry over the past 10 years. 2023 is 2.5x the 2013 amount.

[PERE MD @PERE_MD]

There is currently $257Bn in dry powder for US real estate. $98Bn of that is for opportunistic strategies, $80Bn for value-add. Distressed? Just $2Bn.
(Source - Newmark)

[PERE MD @PERE_MD]

At 55% LTC, the current total firepower allocated to residential private equity strategies is $254.1Bn. At an average unit value of $450k (??) that's 564,667 units! Average total sales volume between 2012-19 was $100-200Bn.

[Chris Bakke @ChrisJBakke]

I just finished a very productive lunch with the board at OpenAI

They have my full support

[PERE MD @PERE_MD]

@moseskagan @ArtemTepler My thoughts and prayers go out to his family and friends. What a sad day.

He was a constant provider on this platform and always trying to help others learn from lessons he had learned (often the hard way).

A big character with an even bigger heart. He’ll be missed.

[PERE MD @PERE_MD]

@chernobelskiy ?

[PERE MD @PERE_MD]

@chernobelskiy https://t.co/Ajatza4WZs

[PERE MD @PERE_MD]

So creepy

[PERE MD @PERE_MD]

@BiminiCapital I’m just joshing with you my friend

[PERE MD @PERE_MD]

According to this fella, anyone who owns a house is a rEaL eStAtE pRiVaTe eQuItY investor