CCIM March Luncheon: Jonathan Brinsden, Speaker – The Midway Companies

BY RAY HANKAMER

Jonathan Brinsden addressed the March luncheon and gave some insights on Midway’s development philosophy and a glimpse into some of its recently completed and future projects. Midway is best known for City Centre, and many of the elements of this development are being carried forward into the company’s new deals.

First, some of the Insights:
• We like to create remarkable places that enrich peoples’ lives
• Sometimes our capital partners cringe, but we like to do projects where everybody wins, including our employees, our tenants, and their customers
• When considering a project, we always ask ‘What’s best for the community?’
• We look for the best real estate that ‘is generational and has permanence of location’, which means it will just get better over time and will appeal to future generations-the mix must be disciplined so that a stable income stream will be created for a long time into the future

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CCIM COMMERCIAL REAL ESTATE FORECAST COMPETITION

BY RAY HANKAMER
rhankamer@gmail.com

KEYNOTE TALK:
Dr. Mark Dotzour
Bullets:
• Should be clear sailing ahead in 2018 for Houston businesses
• Texas is an economic miracle
• The four largest Texas cities are also the
top four in U.S. for domestic in-migration
• Texas’ and Houston’s leading economic indicators remain on an upward curve
• With no fiscal restraint shown in recent tax law change, inflation and higher interest rates are a threat and will not be good for CRE; there is no lid on debt in Washington any more, and deficit hawks

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CCIM January Luncheon

BY RAY HANKAMER

Speaker: Patrick Jankowski, Sr. V.P of Research-Greater Houston Partnership

Takeaway: The Houston economy is powerful, ‘exporting’ goods and services to the US economy and to countries all over the globe. The prediction for 2018 is a return to overall growth, with the
energy sector slowly returning to normal.

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CCIM November Luncheon

BY RAY HANKAMER
rhankamer@gmail.com

Speaker: Dan Niemeyer, REALTY SHARES – “Crowdfunding” (“CF”)

Takeway: Crowdfunding started about twenty years ago as an online method funding ‘starving artists and musicians’, and today it is being used to raise both capital and equity from investors small and large for residential and commercial real estate deals.

  • There are several sizeable CF organizations now in the residential and commercial real estate industries, following relaxing of federal regulations pertaining to protecting smaller investors, ‘accredited’ and not
  •  In 2012 CF organizations were given more latitude in raising money through small investors- Go Fund Me is one of the earliest groups to raise small sums
  • By 2013 CF was further opened up to a diverse range of investing possibilities
  • Residential bridge loans were the first vehicles to be offered to small investors, and since then loans and equity pieces have become more varied and more numerous
  • The sweet spot in the market for CF funds seems to be for developers doing deals in the $2-20 million range- CF funds often allow the developer to retain more ownership in deals while at the same time gaining leverage through blending interest rates between CF investor-lenders and commercial banks
  • CF funding takes away the need for developers to go to ‘friends and family’ for equity, and allows the developer to do more deals in a shorter period of time equity pieces can often be raised  through CF in thirty days as opposed to much longer through previous ‘traditional’ methods
  • CF companies are becoming diverse and more segmented in the different kinds of deals they do
  • CF shops stress-test developer deals before offering them to their investors
  • Some commercial banks are still not fully comfortable coming in behind equity supplied via CF

My Tribute To George Kirksey: The Father of Major League Baseball in Houston

BY RAY HANKAMER
rhankamer@gmail.com

When I was in my early 20s I met George, who was then in his early 60s. We became friends quickly, soulmates,
despite the vast age difference.

George had grown up in Hillsboro, and after graduating from the U. of Texas as a journalism major, worked his way up the ladder until he became National SportsEditor for United Press. He covered sports from drafty press boxes long ago, when reporters dashed to be the first in a single phone booth to call in their story to their paper.

In World War II, George enlisted and due to his experience was given the management of the office in London which reported on the bomber raids over Germany, and on the boys who flew them, and on the ones who did not return.

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A Young Texan Goes To Moscow

Christopher Van Riet: A 25 year-old Houstonian who went to Moscow in 1995 in the middle of the chaos resulting from the dissolution of the Soviet Union, and is now owner / developer of a logistics park including the two largest retail distribution centers in Russian history.

After graduating from the University of Pennsylvania’s Wharton School with an economics degree, Chris Van Riet went straight to Wall Street. After two years, in 1995 he took his two-week summer vacation to Moscow, where he interviewed businessmen seeking opportunity in the chaos, as a communist society began its rocky transition toward a free enterprise system.

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