The Institutional Real Estate Inc Sponsorship brochure, Connected-Investor Focused, We connect people, data and insights, sponsorship, events, IREI Products
Issue link: http://read.uberflip.com/i/1058204
major tenants. Between 2007 and 2012, a cumu- lative 130 anchor tenants moved in, while only seven moved out. Since 2016, malls have lost a total of 62 anchors, and only found 25 replacements, according to Bloomberg. Tesla turns a profit in what Musk calls 'a historic quarter' Tesla earned a profit in its third quarter, fulfilling chief Elon Musk's prom- ise of a turn to positive cash flow amid months of scandals and federal probes, reports e Wash- ington Post, which noted the electric-car company's deliveries of its new Model 3 sedan grew to 56,000 as the automaker surmounted production delays, delivery woes and a federal regula- tor's lawsuit over Musk's tweets threatening to take the company private. Tesla reported a profit of $312 million for the quarter, swinging into the black for the first time in many quarters. It had $6.8 billion in revenue. Global hedge funds boast record assets Assets held by the global hedge-fund industry hit a record $3.24 trillion at the end of second quarter 2018, according to statistics published by Hedge Fund Research. e new record was achieved despite net outflows of $3 billion by U.S. investors during the quarter. Percentage-wise, the assets held by 8,413 hedge funds grew by 0.65 percent during the period. Investor pays $171m for Washington farmland An unidentified investor bought 14,500 acres of farmland in southwest Benton County in Washington State for $171 million, the largest farmland deal this year. e land was bought from John Hancock Life Insurance Co., which bought the parcel in 2010 for $75 million. Media reports have specu- lated the buyer is Microsoft Corp. founder Bill Gates, and records indicate the land consists of 10,500 acres of irrigated farmland, 3,900 acres of rangeland, and 140 acres of land categorized under other uses, such as pasture. Investment giant to acquire alternative credit manager Franklin Templeton Invest- ments has agreed to purchase Benefit Street Partners, an alternative credit manager with $26 billion in assets under management. e transaction is expected to close in second quarter 2019. Franklin Templeton execu- tives say the acquisition will bolster its alternative and fixed-income offerings to include an array of alternative credit strategies. THE $100 BILLION SHORTFALL The investment required to maintain U.S. roads and bridges is estimated at $185 billion per year for the 50 years. (National Surface Transportation Policy and Reve- nue Study Commission) THE MOSTLY MISSING CHROMOSOME Companies founded by women received only 2% of the funding doled out by venture capitalists during 2017. (The Economist) 13 REALASSETS ADVISER | D E C E M B E R 2 0 1 8