Three Things (9/15)
Sep 15, 2022
“Landlords grow rich in their sleep.” - John Stuart Mill
1) Welcome to Wall Street in Miami: Miami's Wynwood neighborhood, once defined by its graffiti and warehouses, is now one of the country's hottest office and residential markets. The warehouse district has lured A-list tenants, including Spotify, PricewaterhouseCoopers, and Blockchain.com. Additionally more than 1,300 apartment buildings have been built - a far cry from just five years ago when there were zero.
Titan's Takeaway: While office vacancy rates sit around 35% in the edgy neighborhood, JLL, the real estate brokerage firm, expects the number to drop to 15% in the next six to nine months as demand for the area remains robust. Who wouldn't want to work in the sunshine state?
2) Americans are buying homes in Europe at a record pace: With a historically strong U.S. dollar, Americans are rushing to Europe to purchase homes to take advantage of the favorable exchange rate. Even seemingly minor deviations in the exchange rate can have mammoth implications on the purchase price of a home or apartment - especially on more expensive properties. Lisbon, Portugal, has become one of the hottest ex-pat areas in Europe for Americans looking to go international.
Titan's Takeaway: The suddenly Hulk-like U.S. dollar is instigating an inundation of foreign direct investment in Europe despite the significant turmoil the continent faces. I'll speak for myself - I am more than happy to relocate to Portugal. Just tell me where to sign.
3) SL Green swoops in to take another midtown prize: The largest commercial landlord in New York City swooped in to take 245 Park Avenue, another flagship Midtown commercial office to its growing portfolio of high-end buildings. The real estate investment trust purchased the 48-floor, 1.8 million square foot building out of bankruptcy after a tumultuous relationship with the former owner, the Chinese conglomerate HNA Group, had placed the building in bankruptcy despite seeing positive cash flow.
Titan's Takeaway: While commercial real estate is undoubtedly going through profound changes with the advent of remote work, there are micro locales where commercial real estate is still hot. Midtown's upscale Park Avenue S district is one of those areas, and it's clear from SL Green's shopping spree that many think there is still value left to unlock.
Cash Management
© Copyright 2024 Titan Global Capital Management USA LLC. All Rights Reserved.
Titan Global Capital Management USA LLC ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept and agree to Titan’s Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings and other information provided are for illustrative purposes only and are not to be considered investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.
Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.
Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.
The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.
Cryptocurrency advisory services are provided by Titan.
Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
Contact Titan at support@titan.com. 508 LaGuardia Place NY, NY 10012.