Finance

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Crowdfunding: A Game-Changer in Finance?  

Ask Benjamin Miller, co-founder of the Washington, D.C.-based online real estate finance company Fundrise about crowdfunding and he will tell you, as he told the House Committee on Small Business several months ago, that “the Internet will do to capital what it did to media and commerce: it will completely disrupt the status quo.” In short, it will be transformative.

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Tax Abatements as a Shield for Looming Property Tax Increases 

Throughout the Great Recession and well into what has become an extended period of slow recovery, the tax revenue base for municipal governments has been shrinking. According to a 2012 National League of Cities year-end survey, “National League of Cities Research Brief on America’s Cities,” 2012 was expected to be the sixth consecutive year of year-over-year declining municipal revenues. Municipal revenues are not expected to rebound in real time with the economy.

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Will Values Fall If Rates Rise and Rents Don’t? 

This past spring, Joseph L. Pagliari Jr., clinical professor of real estate at the University of Chicago’s Booth School of Business, gave a presentation titled “Some Thoughts on Past and Future Real Estate Returns.” Today, as interest rates appear to be rising, nervousness about rate increases and their impact on real estate values appears to be on the rise as well. Development caught up with Pagliari to ask about his outlook on interest rates, commercial real estate values, and what all this means for owners and investors.

From the Archives: Finance Articles from the Previous Issue

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2013 Guide to Capital Connections 

Looking for Capital? Capital Connections - the NAIOP guide to financing lists dozens of firms around the country.

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Foreign Investment in U.S. Real Estate: Gateway Markets Still on Top 

To foreign investors, commercial real estate in the U.S. looks like “the cleanest shirt in the dirty clothes pile,” as one such investor told Jim Fetgatter, chief executive of the Association of Foreign Investors in Real Estate at a recent investment conference. That should not have come as a surprise, considering that AFIRE’s annual survey among its 200 members showed that four of the five cities selected as the top global cities for investment dollars are in the U.S.