🏗️ AT&T cashes in on underused properties to support their fiber-optic future
🏖️ Michael Shvo’s lavish Miami Beach development gains momentum
🍾 NYC’s real estate elite celebrate a leasing boom and the return to office
📚 Learn to develop a local real estate project, sell into owners, and raise capital
Developer

Data Viz of the Week: Inflation Expectations

Inflation is caused in no small part by the mere expectation of inflation. So economists love to track where the general public believes inflation is headed in the coming years.

While expectations of future inflation have steadily declined in recent years, the election has thrown the public’s views into tumult, with expectations dramatically diverging between political parties. Among Republicans, expectations of future inflation have dropped to almost zero.

Upcoming Thesis Driven Courses & Classes

Sharpen your real estate IQ on capital raising, selling into real estate owners, developing local real estate projects, and more.

Upcoming Courses

• February 10: Fundamentals of CRE (💻 Online): A bootcamp providing an insider’s view of “a day in the life” of key industry stakeholders, with real-world insights and applications - Sign up

• February 24: Fundamentals of Capital Raising (💻 Online): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

• February 24: Introduction to Development (💻 Online): A first-person POV simulation for aspiring developers to learn to source, underwrite and finance a local real estate project - Sign up

• February 24: Selling Into Real Estate Owners (💻 Online): A bootcamp for people selling technology and products into the real estate industry - Sign up

• March 4 & 5: Fundamentals of CRE (🗽Live in NYC): A bootcamp providing an insider’s view of “a day in the life” of key industry stakeholders, with real-world insights and applications - Sign up

• March 18 & 19: Fundamentals of Capital Raising (🗽Live in NYC): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

Thesis Driven Classes—1-hour micro courses on specific topics—are now available on Eventbrite here!

Three Articles We Loved from Last Week

It’s not easy keeping up with everything. Here are three articles we loved from the past week that you may have missed:

1. (Reuters) AT&T secures $850 million from sale-leaseback of real estate to Reign Capital

   AT&T has entered into a sale-leaseback agreement with Reign Capital, generating $850 million by selling 74 underutilized central office facilities. This move aligns with AT&T’s strategy to phase out its legacy copper networks by 2029, as it transitions customers to more efficient fiber optics and wireless services. The deal allows AT&T to monetize assets while retaining necessary operational space, with no impact on jobs or services.

2. (Business Insider) Michael Shvo says his glitzy Miami Beach condo project is just getting started

   Developer Michael Shvo announced significant progress in his luxury Miami Beach project, the Raleigh, with a $100 million investment in the past three months. The development, designed by architect Peter Marino, includes a luxury hotel, beach club, and condo tower. Despite an investor seeking to exit, Shvo assures that the project remains financially solid and is advancing with major construction milestones.

3. (New York Post) Real estate power players toast leasing bonanza, return-to-office surge at annual REBNY gala

   The Real Estate Board of New York (REBNY) celebrated a robust end to 2024 at its annual gala, highlighting a significant surge in office leasing and a record in post-pandemic office visitations. December office-building visitations in Manhattan reached 72% of 2019 levels, indicating a strong return-to-office trend. The event featured notable attendees, including Mayor Eric Adams and Governor Kathy Hochul, and honored industry leaders for their contributions.

Developer of the Week

Each week, we feature a different real estate GP doing something special. Today’s developer of the week is Mack Real Estate Group (MREG), which—alongside McCourt—is developing one of the most interesting projects in the US today: the 2,300 acre Halo Vista, a massive new mixed-use community being built around TSMC’s new semiconductor fab outside Phoenix.

In addition to 20,000 new residential units, Halo Vista will include office, industrial, and retail space. It aims to break ground later this year.

Check them out here on the Thesis Driven database!

—Brad and Paul