The Institutional Real Estate Inc Sponsorship brochure, Connected-Investor Focused, We connect people, data and insights, sponsorship, events, IREI Products
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EMPTY WINDOWS During 2017, about 8,200 stores in the United States permanently closed their door. (International Council of Shopping Centers) MAKING THE MARGIN To join the 1 percent club in New York City — a cohort of 38,002 tax filers — a person needed to make more than $713,000 in 2017. (Bloomberg, New York City Indepen- dent Budget Office) UP FRONT 2018 on pace for record M&A year for RIAs ird-quarter deal volume remains on pace to make 2018 the sixth consecutive record-setting year for wealth management deals, accord- ing to a report by ECHE- LON Partners. e report says 43 transactions were completed during the third quarter, pointing to a strong close for the year, with 183 total deals forecast to com- plete in 2018, a 9 percent increase over 2017. Biofuels as global growth opportunity Exports of U.S. ethanol are expected to hit record levels in 2018, even after hitting a new record in 2017 — good news for producers who saw ethanol prices drop to a 13-year low this year. e United States is the world's largest ethanol producer, generating nearly 60 percent of the world's output during 2017, according to the Farm- ers Business Network, as well as the world's largest exporter of ethanol to Brazil, China, Canada, India, the United Arab Emirates and nearly 40 other countries. China VC investments surpass U.S. China now leads the world in venture capital, surpassing the United States, according to a report from consulting firm Crunchbase. Chinese companies have attracted $93.8 billion during the first 10 months of this year, $2.2 billion more than U.S. com- panies. e total amount of venture capital invested with companies in the rest of the world totaled $53.4 billion during the period, Rich families to boosts private equity allocations Family offices' total allo- cation to private equity is predicted to rise by nearly three-quarters between 2017 and 2019, according to a report supported by KKR and family office advisory Camden Wealth. e survey polled 75 family offices globally. e report predicts a 73 percent rise in alloca- tion to private equity by family offices from 2017 to 2019, or $51 million to $88 million per family office. Caterpillar venture arm backs EV startup Fisker, an electric-car startup founded by famous automotive designer Hen- rik Fisker, has received an undisclosed amount of financial backing for its sol- id-state battery technology from Caterpillar Venture Capital, the investment arm of Caterpillar Inc., one of the largest manufacturers of construction and mining equipment. Caterpillar Inc. has converted some of its diesel vehicles to electric propulsion. During the past few years, Henrik Fisker has been working to launch a new electric-vehicle startup under his name after his original effort failed in 2013. Earlier this year, the new startup unveiled the EMotion, an all-electric vehicle that touts a 400-mile range on a single charge. More strife for malls as Sears files Chapter 11 Sears Holdings Corp. filed for Chapter 11 protection Oct. 15, saying it will close 77 of its namesake stores in the next few months, promising more headaches for struggling shopping malls, 24 percent of which already have at least one vacant anchor of at least 25,000 square feet, accord- ing to CoStar Group. Even before Sears announced its store closures, those malls were struggling to attract | The unidentified investor who bought 14,500 acres of Washington State farmland for $171 million — the largest farmland deal of the year — is believed to be Microsoft founder Bill Gates. 12 REALASSETS ADVISER | D E C E M B E R 2 0 1 8