‘Climate change risk’ may be spurring home buyers to steer clear of coastal Florida markets, study says


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Fewer Americans are scooping up coastal real-estate these days — and the risk of rising sea levels appears to be driving the trend.

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Researchers at the University of Pennsylvania studied the dynamics of coastal real-estate markets in Florida, where as many as one million homes are expected to be at risk of chronic flooding due to rising sea levels by the year 2100. Comparing homes in areas with more exposure to rising sea levels with those that are less at risk, the study found that today’s home buyers have far less interest in the more at-risk properties.

Before 2013, transaction volumes across these two sections of the market moved in tandem. But since then, they have diverged. The number of homes sold in the markets with the highest risk of “chronic inundation,” as some call it, fell between 16% and 20% from 2013 to

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CBRE highlights 6 markets with rapidly growing life science clusters

  • Life science real estate is hot, with the lab space square footage growing by almost 12% across the US in the last year, according CBRE report detailing growth in the largest biotech clusters. 
  • CBRE’s report highlighted the 13 largest biotech clusters and the top 10 emerging clusters, showing how record amounts of funding from the National Insitutes of Health and venture capital are translating to the real estate markets.
  • Business Insider highlighted 6 clusters that are seeing large amounts of growth, whether they’re established but growing very rapidly, like New York City, or they’re emerging, like Pittsburgh and Houston.
  • Visit Business Insider’s homepage for more stories.

Real estate to house pharmaceutical, biotech, and other medical research professionals is growing at a rapid pace and rents continue to rise, a sign that tenant demand can support the increasing attention on life sciences from institutional investors and developers. 

Lab space has grown

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Barings Real Estate Appoints Shawn Kimble Head of U.S. Capital Markets

CHARLOTTE, N.C., Oct. 12, 2020 /PRNewswire/ — Barings, one of the world’s largest diversified real estate investment managers, has appointed Shawn Kimble as Head of U.S. Real Estate Capital Markets.  Kimble will have responsibility for all debt activities supporting the real estate debt and equity businesses in the U.S.  He will work closely with the portfolio managers across the businesses to think strategically about each portfolio’s capital structure, its strategic financing needs, and to match each funds’ needs with the appropriate financing solutions.

Kimble, based out of Barings’ global headquarters in Charlotte, will join the U.S. Real Estate leadership team and will report jointly to Ben Silver, Barings Head of Global Real Estate Debt and John Ockerbloom, Head of U.S. Real Estate Equity. He replaces Nasir Alamgir who took on the role of Head of Real Estate Debt Portfolio Management earlier this year. 

Silver said,

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Markets mixed after Trump-Biden debate; data lifts China

Stocks were mixed in Asia on Wednesday while upbeat manufacturing data lifted shares in China as investors studied the outcome of the debate between President Donald Trump and his Democratic challenger, Joe Biden.

Hong Kong and Shanghai led regional gains while Japan’s Nikkei 225 edged lower. Overnight, the S&P 500 lost 0.5% as heavy selling of banks helped reverse some of the gains the market a day earlier.

Investors remain cautious with COVID-19 infections on the rise again in the U.S. and elsewhere. The Trump-Biden debate occurred as coronavirus deaths worldwide have surpassed 1 million. Many millions of people worldwide are jobless.

A survey of Chinese manufacturers, t he Caixin manufacturing purchasing manager’s index, showed economic activity accelerating further in September as businesses recovered from the downturn earlier this year due to the pandemic.

The Caixin manufacturing PMI slipped to 53.0 from 53.1 in August, on a scale of 1-100

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Raucous presidential debate has no lasting impact as North American markets end month

TORONTO – A raucous U.S. presidential debate had little lasting impact on stock markets Wednesday as they ended their worst month since March’s sizable correction.

The early futures in both Canada and the U.S. decreased significantly after Tuesday’s chaotic debate between U.S. President Donald Trump and former vice-president Joe Biden.

But with nothing new presented on policy, investors latched onto hopeful news from Treasury Secretary Steve Mnuchin about a possible fiscal stimulus deal.

“Once the market sort of digested that early in the morning, we saw a sharp reversal in particular in the U.S. and we saw the TSX go into positive territory as well,” said Giles Marshall, portfolio manager at Fiduciary Trust Canada.

“Mnuchin offered some optimism pretty much at the last minute in terms of being able to get a deal done before the election takes place.”

Markets lost some of the gains in afternoon trading.

While investors

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