Federal Reserve officials are in agreement a patient approach to interest rates is the right course to take "for some time," according to meeting minutes. Many members support Chairman Jerome Powell's opinion that recent weakening of inflation is "likely to be transitory."
Tax rules related to Opportunity Zones have led investors to show more interest in Louisiana, writes Anthony McAuley. Tight deadlines for Opportunity Zone investments have led to a "Wild West" situation in the state, said property investor and developer Dennis Stump.
Non-traded real estate investment trusts often have an advantage over their publicly traded counterparts because they are less volatile and not as subject to daily price changes, writes Lew Feldman. Investors with a long-term approach may find that non-traded REITs "offer an underappreciated appropriate investment solution," Feldman writes.
Black Creek Industrial REIT IV will buy a five-building industrial for $115 million in a transaction expected to close in the third quarter. The purchase will be funded with proceeds from a public offering and two fixed-rate mortgages.
The Securities Exchange Commission's Regulation Best Interest final rule may be released soon, and broker-dealers will be interested to see if the framework and obligations will remain the same and if the SEC incorporated any public comments, says Bank of America Associate General Counsel Evan Charles. Fidelity Brokerage Services Chief Compliance Officer Norm Ashkenas says he will be interested to see if the final rule clarifies disclosure requirements and whether it will keep the broker-dealer buy-and-hold investor model in place.
JLL Income Property Trust has purchased Stonemeadow Farms, a 280-unit apartment community in Bothell, Wash., for $81.8 million. "We expect investments of this type to perform better in a late-cycle environment -- which is one of the drivers of our suburban apartment strategy focused on properties in locations with barriers to entry and highly rated school districts," JLL President and CEO Allan Swaringen said.
Strategic Storage Growth Trust II, a private real estate investment trust that SmartStop Asset Management sponsors, has completed its second purchase for an undisclosed amount, a 587-unit self-storage facility in Phoenix, Ariz.
The large-scale risk transfer of defined-benefit plan liabilities can cause a painful balance sheet hit for the plan sponsor. However, a company may be able to avoid this by transferring only part of its pension liabilities to an annuity, says Brian Donohue of October Three Consulting.
Annuity sales platforms can help financial professionals engage with customers more effectively, but all have their strengths and weaknesses, writes technology expert Thiru Sivasubramanian. "The appropriate option -- or options -- comes down to the advisor's business model and requirements," he writes.
More than three-quarters of adults over 50 would like to stay in their current homes as they age, but many believe that won't be possible as their infirmities add up. However, technology may be able to help with the advent of things such as smart appliances and speakers equipped with artificial intelligence.
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