IRR September news: Construction costs, cap rates, and comparing Mexico to Brazil
Oct 10, 2012
IRR’s real estate experts wrote about and commented on a number of real estate trends in September, from building costs to cap rates to international investment. Here are three highlights from the past month.
The cost of rebuilding American landmarks
A Forbes article gathered several experts, including myself, to estimate how much it would cost to build landmarks such as Carnegie Hall, Stanford University, or the New York Public Library (NYPL) if the projects were started today. I offered insight into what it would cost to build Carnegie Hall ($515 million) or the NYPL ($1.6 billion) from scratch in today’s real estate and construction environment. Leap over to the Forbes article for the details.
Seattle’s falling cap rates
Allen Safer, who has spoken about Seattle’s falling cap rates on the IRR blog, wrote a contributed article based on his presentation that appeared in the Daily Journal of Commerce. Click through for more on the Seattle commercial real estate market’s cap rates.
Why real estate investors should consider Mexico
In a recent issue of Inmobiliare, Oscar J. Franck Terrazas, Managing Director of IRR’s Mexico office, argues that developers and corporations should consider investing in the Mexican real estate market by comparing it with Brazil’s market. He cites Mexico’s solid GDP growth, its strategic location, and its use of U.S. dollars for most international transactions. Read more on page 10 of the October 15 issue.
For more commercial real estate news, peruse our In Case You Missed It series.
Posted by: Raymond T. Cirz