fareastwarriors

2020 would be the year for it

Korean Air eyes sale of LA’s tallest tower Debt-ridden airline lends subsidiary nearly $1B to refinance maturing loan on LA’s tallest tower https://therealdeal.com/2020/09/17/korean-air-eyes-sale-of-wilshire-grand/

The Billionaire Who Wanted To Die Broke . . . Is Now Officially Broke https://www.forbes.com/sites/stevenbertoni/2020/09/15/exclusive-the-billionaire-who-wanted-to-die-brokeis-now-officially-broke/#235fb02c3a2a It took decades, but Chuck Feeney, the former billionaire cofounder of retail giant Duty Free Shoppers has finally given all his money away to charity. He has nothing left now—and he couldn’t be happier.

Stripe Workers Who Relocate Get $20,000 Bonus and a Pay Cut https://www.bloomberg.com/news/articles/2020-09-15/stripe-employees-who-relocate-to-get-20-000-bonus-and-a-pay-cut?srnd=premium

Snowflake is selling shares at $120 in its IPO, initially valuing the company at $33.3 billion. The company raised its price range on Monday to between $100 and $110. Snowflake is poised to be the biggest IPO in a heavy week for tech offerings. https://www.cnbc.com/2020/09/15/snowflake-prices-ipo-above-increased-range-implying-initi.html

You can really smell the desperation wafting out of Manhattan - big writedowns must be looming. I'll give 1:2 odds on the JPM "study" being completely non-empirical. This is my favorite part by far: JPMorgan Sends Some Traders Home After Worker Contracts Covid-19 https://www.bloomberg.com/news/articles/2020-09-15/jpmorgan-sends-some-traders-home-after-worker-contracts-covid-19?srnd=premium

https://www.businesswire.com/news/home/20200914005873/en/Katie-Farmer-Named-CEO-of-BNSF BNSF names Kathryn Farmer as its next CEO

At JPMorgan, Productivity Falls for Staff Working at Home ‘Creative combustion’ has taken a hit, KBW analysts say JPMorgan CEO Dimon discussed bank’s findings with KBW https://www.bloomberg.com/news/articles/2020-09-14/at-jpmorgan-productivity-falls-for-younger-employees-at-home?srnd=premium

Snowflake bumps expected IPO price by about 30%, could debut at more than $30 billion valuation Snowflake raised its estimated IPO price by around 30% in a new S-1 filing Monday. The company now expects to go public at a share price between $100 and $110, according to the filing. It previously said the shares would likely debut between $75 and $85. Last week, Snowflake revealed in a filing that Berkshire Hathaway and Salesforce each agreed to buy $250 million of stock at the IPO price in a concurrent private placement. https://www.cnbc.com/2020/09/14/snowflake-bumps-expected-ipo-price-value-could-top-30-billion.html

https://www.cnbc.com/2020/09/11/rxr-realty-ceo-scott-rechler-to-mayor-bill-de-blasio-on-city-clean-up.html Real estate CEO: NYC mayor must make streets safer, cleaner so people will want to return

Long term holder? Why now?

Google Abandons Plan to Rent Dublin Office for 2,000 Workers https://www.bnnbloomberg.ca/google-abandons-plan-to-rent-dublin-office-for-2-000-workers-1.1490492 Alphabet Inc’s Google unit walked away from a plan to rent space in Dublin for as many 2,000 workers, shelving one of the city’s biggest real-estate deals in recent years. Google had been in talks to rent about 202,000 sq ft (18,766 square meters) of space at the Sorting Office, close to the Irish capital’s south quays, adding to its array of sites in the city.

What kind of companies?

Softbank identified as ‘Nasdaq whale’ buyer of billions in options, juicing tech rally before drop https://www.cnbc.com/2020/09/04/softbank-reportedly-the-nasdaq-whale-that-bought-billions-in-options.html

Bought some PSHZF

A bit of MSFT.

What are you guys buying? Primary? Investment? Vacation?

Nearly One-Fourth of Manhattan’s Available Office Space Is Up For Sublease: Report https://commercialobserver.com/2020/09/manhattan-office-market-sublet-space-coronavirus/

Got space? Manhattan office availability hits 7-year high Leasing down 21% in August as sublet space dilutes market https://therealdeal.com/2020/09/02/got-space-manhattan-office-availability-hits-7-year-high/?utm_source=internal&utm_medium=widget&utm_campaign=feature_posts

Aby Rosen buys Midtown office building for $350M RFR seeking to lease 522 Fifth Avenue to a single tenant https://therealdeal.com/2020/09/01/aby-rosen-buys-midtown-office-building-for-350m/ Aby Rosen’s RFR just closed on a 23-story, 575,000-square-foot office tower in Midtown Manhattan for $350 million. Morgan Stanley sold the property at 522 Fifth Avenue, which it used as its headquarters for its wealth management division. ... In April, Rosen considered but decided against buying 900 Third Avenue in Midtown from Paramount Group for $400 million and a retail condo at 1600 Broadway in Times Square that was on the market for more than $200 million, according to Business Insider.

Tiny add to FB and BRK.B yesterday

Return to big offices? Why bank branches may get a new lease of life https://www.reuters.com/article/us-health-coronavirus-banks-branches-ana/return-to-big-offices-why-bank-branches-may-get-a-new-lease-of-life-idUSKBN25S3UB

U.S. tech stocks are now worth more than the entire European stock market https://www.cnbc.com/2020/08/28/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html U.S. tech stocks were now more valuable by market cap than the entire European market, according to Bank of America. The European market was four times larger than U.S. tech in 2007, according to the note.

NYC Landlord Stepping Up Back-to-Office Campaign With Banks https://www.bloomberg.com/news/articles/2020-08-27/nyc-landlord-stepping-up-back-to-office-campaign-with-banks?srnd=premium

Great! 8) ;D