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KKR Real Estate Finance Trust Inc. to Announce Third Quarter 2020 Results

October 12, 2020

KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) announced today that it plans to release its financial results for the third quarter 2020 on Monday, October 26, 2020, after the closing of trading on the New York Stock Exchange.

A conference call to discuss KREF’s financial results will be held on Tuesday, October 27, 2020 at 10:00 a.m. ET. The conference call may be accessed by dialing (844) 784-1730 (U.S. callers) or +1 (412) 380-7410 (non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Relations section of KREF’s website at http://www.kkrreit.com/investor-relations/events-and-presentations. A slide presentation containing supplemental information may also be accessed through this website in advance of the call.

A replay of the live broadcast will be available on KREF’s website or by dialing (877) 344-7529 (U.S. callers) or +1 (412) 317-0088

Kiplinger’s Personal Finance: Now’s the time for estate tax planning | Business News

October 11, 2020

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kiplinger-retirement-2020930 — There are several estate planning strategies to consider before the rules change.

tribune news service

This year is an opportune time to consider succession and wealth planning.

One reason is the federal estate and gift tax exemption is at a historic high of $11,580,000 in 2020 — $23,160,000 for couples if portability is elected on a federal estate tax return. Portability allows a married decedent’s unused estate and gift tax exemption to pass to the surviving spouse. The tax rate is 40%.

This exemption amount expires at the end of 2025, but if the Democrats win big in November, odds are good the exemption will fall sooner because Joe Biden has called for lowering it. He hasn’t given an exact figure, but it could revert to pre-2018 levels of about $5 million ($10 million for couples), with inflation adjustments.

Here are two estate planning strategies to consider now before the

Deutsche Bank, Goldman and JP Morgan top commercial real estate finance, despite COVID-19 cracks

October 10, 2020

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Spencer Platt/Getty Images

Several Wall Street banks have come to dominate a corner of U.S. commercial real estate finance over the past seven months, even as the coronavirus pandemic has cast a long shadow over the market.

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Deutsche Bank (DB) Goldman Sachs (GS) and JP Morgan Chase (JPM) each significantly grew their share of the roughly $550 billion commercial mortgage-backed securities (CMBS) market during the pandemic, according to a new report by Deutsche’s research arm.

The CMBS market is a type of property finance where Wall Street banks make loans on hotels, skyscrapers, and other types of commercial buildings to package into bond deals that investors buy.

This chart shows which Wall Street banks won — and lost — market share since the pandemic took hold in the U.S.

Deutsche Bank Research, Index data

Researchers categorized loans as pre-COVID from January to March, but as post-COVID as

How the pandemic positively affected the housing real estate market

October 10, 2020

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Residential sales will experience a massive lift during the pandemic, according to Charles Nathanson, an associate professor of finance at the Kellogg School of Management.
More homeowners are looking to use their savings from limited vacation and entertainment spending for larger homes and spaces, especially as working remotely continues.
However, Nathanson predicts that commercial and rental real estate will be unstable, due to an uptick in moves, evictions, and unemployment.
Visit Business Insider’s homepage for more stories.

The COVID crisis has thoroughly upended how people live, work, and shop. And this, in turn, has upended real estate markets.

Whether it’s tech workers abandoning dense urban cores for more space in the countryside, restaurateurs converting from dine-in to takeout, or companies suddenly going virtual while locked into an office lease, it’s clear that the ways we are using space — and the amount we’re willing to pay for it — are

Best Real Estate ETFs Of 2020

October 8, 2020

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It’s been a tough year for the real estate sector amid the ongoing coronavirus pandemic. Within Nareit’s universe of roughly 200 equity and mortgage REITs, the average real estate investment trust remains lower by more than 30%.

Back during the depths of the shutdowns on April 8, I published “No REIT ETF Is Pandemic-Proof, but These 3 Are Close.” At the time, every single REIT was trading in negative territory. Yet I discussed anyway how a few segments of the real estate universe would not only survive the pandemic…

They could actually thrive.

Source

This included so-called “essential” property sectors like technology, industrial, and housing – ones American simply cannot go without. I also highlighted several real estate ETFs poised to benefit from both near-term pandemic effects and longer-term secular tailwinds.

Today, just three out of 26 of those listed in Morningstar’s U.S. Real Estate ETF category are in

China’s ‘three red lines’ strike delicate balance between curbing real estate debt and local government finances

October 6, 2020

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As China moves to tackle excessive borrowing in the real estate sector, it is walking a tightrope between providing cash-strapped local governments with revenues from land sales and keeping a lid on rising house prices.

Chinese regulators in August tightened funding conditions for 12 major property developers, setting caps on the amount of debt they could hold in relation to cash on hand, the value of their assets and as a proportion of equity in their businesses – dubbed “the three red lines”.

Last week, mainland financial newspaper the 21st Century Business Herald reported authorities had asked large banks to keep the proportion of property loans below 30 per cent of all new loans, citing unidentified sources.

Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.

Property sales growth has surged this year, helping the economy recover from the coronavirus pandemic.

Toronto real estate set records in September as COVID-19 cases rise

October 6, 2020

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Home sales were stronger in the Greater Toronto Area's suburbs than the city's core (Getty Images) — Home sales were stronger in the Greater Toronto Area’s suburbs than the city’s core (Getty Images)

The Greater Toronto Area’s real estate market had its busiest September on record, even as COVID-19 cases rise and the Canada Emergency Response Benefit (CERB) wound down.

The Toronto Regional Real Estate Board (TRREB) says 11,083 homes were sold during the month, 42.3 per cent more than September 2019.

TRREB continued to beat the drum of pent up demand to explain the unusually strong sales this late in the year, combined with low interest rates. But it also warned the pandemic’s economic effects could cool the market in the coming months.

“Further improvements in the economy, including job growth, would support strong home sales moving forward,” said TRREB president Lisa Patel, in a release. “However, it will be important to monitor the trajectory of COVID-19 cases, the related government policy response, and the impact

Washington Real Estate Investment Trust: DC Metro Stability And Redevelopments Will Fuel Long-Term Growth (NYSE:WRE)

October 5, 2020

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Thesis

Washington Real Estate Investment Trust (WRE) (“WashREIT”) has exposure to an extremely stable market in the Washington DC metro area. Its properties cover ground in downtown DC, northern Virginia, and Maryland suburbs. The diversified REIT boasts multifamily, office, and retail holdings.

Management has de-risked its portfolio by transitioning to lower-cap rate, lower-risk, and higher-growth suburban multifamily properties. Capital recycling from high-cap rate to lower-cap rate properties has resulted in a short-term decrease in core funds from operations per share and an underperforming stock price. However, the company is well-positioned for the long term with a suburban multifamily focus.

The sector and market focus position the company to benefit from population and employment migration to the region, as well as a continued housing shortage. WashREIT is undervalued due to its diversified nature and recent core FFO per share declines. Suburban office is stable, and retail makes a small portion of

3 Real Estate Mutual Funds to Add to Your Portfolio

October 2, 2020

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For investors looking to park their money in the real-estate sector, mutual funds are the cheapest and most-convenient options. This category of funds also offers solid protection against inflation.

The real-estate sector recently saw tough times but the presence of this investment vehicle generally adds stability to a portfolio. This is because volatility in property prices is far less than the extent experienced by stocks. Adding such funds to a widely diversified portfolio would increase returns while significantly reducing the associated risk.

Below we share with you three top-ranked real estate mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.

TIAA-CREF Real Estate Securities Fund Retirement Class TRRSX seeks maximum total returns over the long run through growth of capital and current income. TRRSX invests

China’s Too-Big-to-Fail Real Estate Giant Pulls Back From Brink

September 30, 2020

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(Bloomberg) —

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China Evergrande Group took a major step toward avoiding a cash crunch that had threatened to roil the nation’s $50 trillion financial system and reverberate across global markets.

After a turbulent few days during which banks, bondholders and senior government officials became increasingly alarmed about Evergrande’s financial health, the world’s most indebted developer said it reached an agreement with a group of strategic investors to avoid repayments that would have placed a sizable strain on the junk-rated company’s balance sheet.

The deal buys crucial time for Evergrande to rein in a complex web of liabilities that some analysts have said makes the property behemoth too big to fail. Evergrande owes $88 billion to banks, shadow lenders and individual investors across China and has borrowed $35 billion from bondholders around the world. More than 2 million homebuyers have given the company down payments on yet-to-be-completed properties.

Relief