Ice Skating at Rockefeller Center / NAIOP Breakfast / Company Branding and the Elevator Pitch / MCF Academy (Liberia) News / Shannon Corey in Nepal

Ice Skating at Rockefeller Center

Early last Sunday morning a friend and I went to Rockefeller Center.  It was the first time either of us had skated under the tree.  As we rediscovered our 'skating legs' we noticed the people standing at the top of the rink looking down and taking photos of, well, skaters like us.  We each had the same thought… ‘All these years that was me watching from the top, looking down and thinking, “Gee, wouldn't that be fun!”’ Neither of us had every actually done it – until now.

Doing new things is one of my 2013 resolutions and I’m off to a good start.  While I hadn't been on ice skates in a very long time, on this day I skated for almost two hours and didn't fall once. Yeah!  Rockefeller Center during the holidays is really a special place and we were fortunate to be skating when we did as the beautiful Christmas tree was coming down the very next day.  So, all you native New Yorkers and other honored guests and tourists, if you've ever imagined yourself skating under the tree - then just do it!  I think you will have a great time and a memory for life.

NAIOP New York Chapter Breakfast 

On January 10 I attended the monthly breakfast meeting of the New York Chapter of the organization which is called NAIOP but is really "The Commercial Real Estate Development and Ownership Organization." Thanks for the invite from Rick Lechtman of Ackman-Ziff, and member of the NAIOP Board of Directors. Guest speaker, NAIOP President and CEO, Tom Bisacquino, and I had not seen each other for a good number of years - actually since the late 90's when my technology consulting firm created the first distance learning module for them.  We had a great chat.  He is the same enthusiastic and passionate guy that I've always known him to be.  NAIOP is now 15,000 members in 51 chapters.  I really like their simple mission statement:  ‘Educate, Advocate and Network.’  

Amongst the approximately 80 breakfast attendees, it was great to see the number of younger (well, everyone is younger than me!) commercial real estate industry professionals.  I encourage all to have a look at NAIOP, as they say on their website, "to invest in your career."  I have a feeling I'll be spending more time with this stellar organization.

Company Branding and the Elevator Pitch

Over the years, I have done an exercise with real estate firms to help them create a simple elevator pitch to be used by all employees when asked the basic question, "So, what does your company do?"  This week, the exercise once again had fabulous results.  With this particular client, part of the success was the truly collegial environment amongst the team.  Even though the 'big boss' was participating in the session, no one (NO ONE) seemed to feel intimidated or reluctant to give his or her opinion or suggestion.  

That's what makes an organization stand out and that attitude starts at the very top.  Conversely, I have been in meetings where team members seem so worried that they are going to say the wrong thing or that the boss won't like what they say.  This is so disappointing to watch - knowing that management is not getting the most out of their people and, at the same time, the employee loses (or has already lost) their enthusiasm. 

Take a moment to think about which of these scenarios most closely resembles your firm and decide if something could be done differently on your team to increase openness and communication.

MCF Academy (Liberia) News

I received a note from an OTR reader who said, “I have enjoyed reading your updates on the MCF Academy.  You have inspired me to sponsor a child."  This message warmed my heart.  It was incredible to me that this very column helped to make a difference in a child’s life.

Shannon Corey in Nepal

Shannon Corey is my musician friend who just arrived in Nepal on a mission to work with orphans.  In her first email to everyone who donated money to pay for her plane ticket, I noticed the names of four members of the OTR community who quietly made donations to Shannon's project.  I must tell you that my eyes welled up when I saw those familiar names.  On behalf of Shannon, please accept my own sincere "Thank you." 

Susan Hudson-Wilson Memorial Music Section

Lyrics of the Week
From Procol Harum's "Learn to Fly"

Learn to fly 

Where eagles only dare to try

We're on the wing

We dare to win

We see the future

And we're gonna make it

Learn to live

You know you got so much to give

It's in the air

It's everywhere

We got a vision and we're gonna claim it

Congratulations!

Christopher Turner - joined Colliers International as Senior Director in the Financial Services Team.

Simon Mallinson - joined RCA (Real Capital Analytics) as Executive Managing Director - EMEA (Europe, Middle East, Asia)

On the road….

Jan. 15:  DTZ's First Annual Forecast Briefing, New York, NY

Jan. 23 - 25:  IMN Winter Forum on Opportunity and Private Real Estate Investing, Laguna Beach, CA

Jan. 30 – 31:  NAREIM (National Association of Real Estate Investment Managers) Asset Management and Acquisitions Winter Meeting, Dallas, TX

Feb. 20 - 21:  IPD  (Investment Property Database) U.S. Investment Forum, New York, NY

Feb. 27 - Mar.1:  NCREIF (National Association of Real Estate Investment Fiduciaries) Winter Conference, Phoenix, AZ

Mar. 12 - 15:  MIPIM, Cannes, France

Apr. 28 - May 1:  CRE (Counselors of Real Estate) Mid-Year Meetings and a studio jam session with the CRE Band, Sound Counsel, New York, NY

June 4 - 5:  PERE Summit-Europe, London, UK

Disclaimer

All content represented on this blog is created for informational purposes only. Steve Felix is not to be held liable for what is written or displayed. Content, which includes all text, photos, videos and graphics, is not intended to malign any religion, ethnic group, club, organization, company or individual. Steve Felix is responsible for the content of the blog and this content is independent of groups, organizations, or other companies he may be seen to represent.

Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site. The intention of this blog is to do no harm in regards to injury, defamation, or libel. What is written or shown is not to be taken as fact or absolute. Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content, or incorrect grammar and punctuation.

Celebrations / Sponsor a Liberian Child / The Alchemist / Unclutter Your Life

Celebrations

There is always something to celebrate.  Most of the time, I find myself celebrating the small things.  For example, this evening, after Interviewing Skills Improvement coaching session with a client, I'm going to celebrate the fact that yesterday I got a New York City cell phone number.  Why?  What's the big deal? Well, changing that number severed my final tie to my years living in California.  Yes, it's strictly symbolic but it has meaning for me.  It's another step down the yellow brick road.  

While it's always more fun to celebrate with others, I've had a good time toasting when I'm alone.  Many times, before I take the first sip of a Kettle One, straight up with a twist, thank you very much, I'll close my eyes and think about my mother or my father.  Sometimes I'll close my eyes and just think about how lucky I am.  But, regardless, there are some places, particularly in Manhattan where they know me (no, it's not Cheers!).  In one place, sometimes the manager will let me sit and play the piano.  To me that's always a celebration.  And, while I am aware that there is an audience there it's really special when a friend is there with you to share your joy.  I don't know about you but I think the world needs more celebrating of little things and what's great is that you can just do it, anytime, anywhere because celebrating comes from your heart.

Sponsor a Liberian Child

The fascinating thing about traveling by air is that you get in a plane in, say, Monrovia, Liberia and then after flying for a while, you're back in New York.  But life in Liberia is just the same as when you were there.  It's your life that took a side trip to experience another place, another culture and another people.  There is no substitute for first-hand experiences.  But, even if you can't go visit the children at The MCF Academy, you can make a difference.  I am going to sponsor a young man named George Beyan (see photo below).  It costs $300 a year.  I'm not going to get on my high horse here and tell you that you should do it too.  That's totally up to you.  What I can tell you is that if you do choose to sponsor a child at the MCF Academy, you will feel good.  I guarantee it and, as we all know, there are very few (any?) things in life that are guaranteed.  So, really, just do it.  Go to this website and sponsor a child in Liberia for just $300 per year.  It's a wonderful way to begin a new year. 

George and Steve

New York Real Estate Breakfast

In our industry, perhaps especially in New York, there are a few places that, if you go for breakfast, you are almost guaranteed to run into someone you know.  Yesterday, for example, I met someone at Cucina in the Met Life Building on the 45th Street side and while sitting there, sure enough, my good and great friend, Ed LaGrassa of Chilton Realty walked in.  That spot, along with Naples 45 in the same building are two popular commercial real estate breakfast haunts.  One more, right across 42nd Street from Grand Central Terminal, under Park Avenue, is Pershing Square.  Make a reservation there for breakfast (they don't take lunch reservations and it's sometimes a madhouse).  Of course, if you're looking to see really, really big shot real estate people you can have breakfast at the The Loews Regency Hotel at Park Avenue and 61st Street.  So, remember, networking opportunities exist all the time, not just at industry events or networking events. 

Photo of Grand Central Terminal and the Met Life Building I took this morning 

The Alchemist

Have you ever started a book, perhaps one that someone recommended to you, and weren't able to get into it? Or even if you finished reading it you didn't really find that it resonated with you?  About 10 years ago I first read "The Alchemist" by Paul Coelho.  I thought it was a cute story but that was about it.  Then, the other day, while looking for the next book I'd buy on my Kindle, I came upon that book and decided to buy it.  It's a quick read.  But this time, something was different.  It was me.  Here are a few sentences that struck a nerve with me:

• It is the possibility of having a dream come true that makes life interesting.

• It is the simple things in life that are the most extraordinary.

• People are capable, at any time in their lives, of doing what they dream of.

• We have to take advantage when luck is on our side, and do as much to help it as it's doing to help us.

• You must always know what it is that you want.

• When a person really desires something, all the universe conspires to help that person to realize his dream

• Remember that wherever your heart is, there you will find your treasure.

"What's Still on Your Back Burner?"
On New Year's Day a friend took me along to a seminar at the JCC on the Upper West Side called, "What's Still on Your Back Burner?  Unclutter, Get Clear, Get it Done."  The program was led by Jennifer Zwiebel and it was fascinating.  Jennifer offers one-on-one coaching and, based on the number of people hovering around her at the end of the session, she found some new clients.  Here are a few things that Jennifer turned me on to:

• Three kinds of clutter:  Space, Time, Mind
• Anything you want to do is achievable.  It won't be easy.  You have to want the results more than you want it to be comfortable
• Jennifer's Favorite Quote (from her website):  "We must be willing to get rid of the life we've planned, so as to have the life that is waiting for us."  Joseph Campbell

On the road…

Jan. 7-9:  Dallas to conduct my one-day "How to…" Workshops for a client.  

These workshops include:  

• How To Network
• How To Get The Most Out Of Attending An Industry Event
• How To Leverage Your Trade Association Membership
• How To Build Your Personal Brand
• How To Be A Memorable Panelist
• How To Be An Effective Moderator
• How To Get Meetings With People Who Don't Know You.  

Basically, I am teaching people what I know how to do and what works!

Jan. 21-26:  Los Angeles and Laguna Beach, CA for client meetings and to attend the IMN Winter Forum on Opportunity and Private Fund Investing at The Montage in Laguna Beach.

Feb. 27-Mar. 1:  Phoenix, AZ to attend the NCREIF (National Association of Real Estate Investment Fiduciaries) Winter Conference.

Mar. 12-15:  Cannes, France to attend MIPIM (Tentative).

Apr. 28-May 1:  New York to attend the CRE (Counselors of Real Estate) Mid-Year Meetings and possibly have a jam session with the CRE Band, Sound Counsel.

June 4-5:  London to attend the PERE Summit-Europe. 

Christmas in Liberia / Career and Personal Coaching / What is a client?

Christmas in Liberia 2012 

Eight of the students at the MCF Academy are true orphans.  They came to the academy last year when the orphanage they lived in burned down.  It's these eight that I have gotten to spend the most time with as the other students went "home" for the holidays.  

George in the back of the SUV

Last Sunday, at a church service dominated by children, a group from the "Brother's Keeper" orphanage performed for the packed house (I'd say more than 500 people).  This orphanage has been in business for 15 years and some of its 'graduates' are now young adults.  They sang several songs and received a few Christmas gifts from the host, Monrovia Christian Fellowship.  What impressed me most was the look on the faces of these children.  They have obviously been brought up in an environment at their orphanage that was both nurturing and empowering.  They are part of the future of both Liberia and the world and I sensed that some of them have big plans in mind and know they can achieve them.  They're right, aren't they?  

After church, we limped to a garage with the MCF Academy SUV that had become quite temperamental.  After a two-hour diagnostic and repair session (where there were no less than four 'mechanics' under the hood at one time), the vehicle was running well.  I was starving, having forgotten again to bring a snack with me.  We headed for a place called Shark's, which is a mélange of McDonald's (kid friendly with playground), a beach bar and a hot dog, hamburger, popcorn and ice cream emporium.  Our group of 18 commandeered one long table. Watching these kids (aged 3-16) relish (no pun intended) the food, drink and ice cream was a thrill for me.

MacDella told me that most of them had never been on an outing like this.  Can you imagine?  We take little things like this so much for granted. In a sweltering afternoon, the children ate their ice creams very, very, very slowly not wanting to let the experience end.  It was an extremely special time for me to be able to help them have this memory, which Mac said they would never, ever forget.  Me neither.  Big sigh!

Christmas Day

We celebrated with the traditional Liberian Christmas Day meal of Jollof Rice and beans along with delicious bar-b-que chicken.  Grace, our cook, works miracles in pots over hot coals.  The portions were more than plentiful and the kids really enjoyed the holiday fare.  MacDella told me that the best Christmas gift the children received was our outing to Shark's the other day.  When we were there, I hadn't thought about the "treat" from that experience but for those children, the true orphans, who do not have a home to go to for Christmas or anytime for that matter, their treat was my pleasure.  

Santa Steve and MCFA Students in their new Christmas PJ's

While there has been great progress made in Liberia since my visit in 2006, there still remain problems with trust and honesty. I got shaken down on Christmas Day by my new best friend, Moses, the head of the traffic department.  For years, police have been known to randomly pull people over and tell them that if a ticket is officially filed it'll cost them $50 US dollars and they'll have to spend half a day to get their license back.  But basically the police want to get you to agree (they never ask out and out) to pay them so cold cash.   "So, how can we work this out?" Moses asked me.  "I don't know. You tell me", was my almost courteous response.  "But what can we do to make this go away?" was Moses' next offering.  "Well, it's your country, what would you suggest?” I asked him, knowing full well what the answer was.  But, given that I was on his turf and had a few of the children with me I decided to end the conversation and offered him $20 which I gave him and he gave me my license back.  No documentation required.  Just the day before, MacDella told me that the LIberian President had issued a statement that this traditional way of celebrating Christmas would not be tolerated.  I guess there's a ways to go in that regard.

2012:  Commercial Real Estate

Like "The Little Engine That Could" ("I think I can, I think I can") the commercial real estate industry has chugged along. But somehow it feels different.  Probably because things have changed and continue to do so.  "New" investors are bringing cold, hard cash into the U.S. as a safe haven given what is going on in the rest of the world.  And, as RCA continues to report, investors are taking bigger stakes in secondary markets where they can get more bang for their buck.  Asset Management, the skill set that can help discover opportunity income, continues to be of critical importance in getting those investments to achieve optimal cash flow and, whenever possible, better than average appreciation.  A number of investment management executives that speak with me are thinking about new directions to take their business.  Seasons change.  How we adopt to change is the key.  An exercise I use with some of my corporate strategy clients is to have them imagine that their company didn't exist.  What would they do today?  

2013:  Career and Personal Coaching 

Based on numerous requests, I am expanding my Career / Resume Building / Interviewing Skills / Personal coaching services.  In addition to helping individuals build confidence in themselves this service gives people technical and behavioral tools that will help them craft more effective resumes and cover letters and stand out and differentiate themselves in job interviews. It also offers guidance about searching for an internship or a job.  Shortly, I'll be announcing the addition of a partner who is an expert practitioner in this type of coaching and skills development.  Very exciting!

What Is A Client?

These words are from a poster hanging in the reception area of Clarion Partners Headquarters in New York.  I thought it'd be a good reminder as we start the new year:

• A Client is the most important person in this firm, whether he comes in person, writes us or telephones.

• A Client is not dependent on us - we are dependent on him for our living.

• A Client is not an interruption in our work he is the purpose of it…he is doing us a favor for giving us the opportunity to serve him.

• A Client is not someone with whom to argue or against whom to match you wits.  No one ever wins an argument with a client.

• A Client is a person who comes to us because he needs a certain service.  It is our objective to provide this in a way profitable to him and ourselves.

• A Client is not cold static.  He is a flesh and blood human being with emotions and prejudices just like our own.

• A Client is the most important person in this firm - without him there would be no business and you would not be needed.  

Congratulations

Bill Krauch, my longtime friend, is retiring from Clarion Partners on 12/31/12.  Throughout his long career, Bill has always been a class act.  He is a great ambassador for the institutional real estate world and an integral part of its globalization.  He's always been someone who has nurtured younger people in the industry, passing along what he's learned. Bill is not a retiring kind of guy so don't be surprised if he pops up in a new role sometime soon. He's a special guy and I am proud to call him my friend.  All the best Bill.

Thank You

2012 has been a landmark year for me in several ways. It was also a year that brought some new and special people into my life.  "You're a lucky boy,” one of my friends said to me recently.  Yes, I am but maybe that luck is simply the result of putting positive energy out in the universe and, without any expectations, having it come back in some inexplicable way.  

Thank you very much for your support of this weekly column.  I am humbled by your generous support for some members of our community who have been in need or embarking on worthwhile missions.  We've been through a lot together.  This year we've lost some people; family, friends and industry colleagues. Those are impossible events to try to understand and so we just to accept them and learn from those who have passed into the next dimension and make them proud that we have taken something positive from them and are 'paying it forward.' 

As we get ready to "Save" 2012 and open a "New" document called "2013" we should all remember this: "Some opportunities only come once; seize them!" (1) 

Felix Consulting Group

Thank you to the 15 clients of Felix Consulting Group who made our first year a success!

What I've Learned  

This was sent to me by my son Brian in August 2000. In cleaning up my hard drive I found it and wanted you share it with you.  You may have seen this before but I encourage you to read it 

• I've learned that we don't have to change friends if we understand that friends change.
• I've learned that no matter how good a friend is, they're going to hurt you every once in a while and you must forgive them for that.
• I've learned that true friendship continues to grow, even over the longest distance. Same goes for true love.
• I've learned that you can do something in an instant that will give you heartache for life.
• I've learned that our background and circumstances may have influenced who we are, but we are responsible for who we become.
• I've learned that it's taken me a long time to become the person I want to be.
• I've learned that you should always leave loved ones with loving words. It may be the last time you see them.
• I've learned that you can keep going long after you think you can't.
• I've learned that we are responsible for what we do, no matter how we feel.
• I've learned that either you control your attitude or it controls you.
• I've learned that regardless of how hot and steamy a relationship is at first the passion fades and there had better be something else to take its place.
• I've learned that heroes are the people who do what has to be done when it needs to be done, regardless of the consequences.
• I've learned that money is a lousy way of keeping score.
• I've learned that my best friend and I can do anything or nothing and have the best time.
• I've learned that sometimes the people you expect to kick you when you're down, will be the ones to help you get back up.
• I've learned that sometimes when I'm angry I have the right to be angry, but that doesn't give me the right to be cruel.
• I've learned that just because someone doesn't love you the way you want them to doesn't mean they don't love you with all they have.
• I've learned that maturity has more to do with what types of experiences you've had and what you've learned from them and less to do with how many birthdays you've celebrated.
• I've learned that it isn't always enough to be forgiven by others. Sometimes you have to learn to forgive yourself.
• I've learned that no matter how bad your heart is broken the world doesn't stop for your grief.
• I've learned that just because two people argue, it doesn't mean they don't love each other. And just because they don't argue, it doesn't mean they do.
• I've learned that you shouldn't be so eager to find out a secret.  It could change your life forever.
• I've learned that two people can look at the exact same thing and see something totally different.
• I've learned that your life can be changed in a matter of hours by people who don't even know you.
• I've learned that even when you think you have no more to give, when a friend cries out to you you will find the strength to help.
• I've learned that the people you care about most in life are taken from you too soon.

Send this to all the people you believe in…I just did.

Happy New Year and safe travels.

On the road…

Jan. 7-9:  Dallas to provide my "How to" Workshops to a client firm

Jan. 21-25:  Southern California for meetings and to attend the IMN Winter Forum on Opportunity and Private Real Estate Investing in Laguna Beach

Feb. 27-Mar.1: Phoenix, Arizona to attend the NCREIF (National Association of Real Estate Investment Fiduciaries) Winter Conference.

Mar. 12-15:  (Tentative) Cannes, France to attend MIPIM 

Apr. 28-May 1:  New York for the CRE (Counselors of Real Estate) Mid-Year Meetings and a possible jam session with the CRE Band, Sound Counsel.

June 4-5:  London to attend the PERE Summit-Europe

(1) The Holstee Manifesto

Liberia 2012 / RCA U.S. Capital Trends 1212 / The Final Rippple

Liberia 2012

After traveling for 24 hours, even a pretty resilient traveler can feel a little weary. The scene at baggage claim at the airport in Monrovia, Liberia would have been funny if it were in a Woody Allen movie.  As it was, I just stood back, got banged around a bit and smiled at the craziness but, somehow, in the end, everything all worked out (doesn't it usually if we let it)?   

The MacDella Cooper Foundation Academy (MCFA) is located on secure and beautiful piece of property, six miles from the airport and further from the smoke, smog, noise and bad influences of the city.  

Prior to this government, headed since January 2006 by Her Excellency Ellen Johnson Sirleaf, the first elected female head of state in Africa, the country had barely survived a 10-year civil war fueled by a really bad man who has been convicted by the World Court for crimes against humanity.  But, while resentment coming out of a war can last for generations, the future of any country, of any people, hinges on the ability of it's leadership to inspire and set positive examples for it's citizens, especially the children who are the future. And that is exactly what is going on in Liberia under her presidency.

The academy is made up of two long parallel buildings.  On one side is the dormitory building and the other side the classrooms, office and dining/multi-purpose room.  At one end of the outside "common area" is the water tank tower and pumping station.  This is where the children fill their buckets every evening to carry back with them to their dormitory and take their baths.  

While one of the staff members filled my buckets, I bathed like everyone else:  you have your bucket of pretty much cold water and a scoop.  You stand in a place that has a drain on the floor and you (is this getting into too much detail?) pour the water over yourself…actually iprobably something that the campers amongst you have done many times.  But, it really feels good and I just make believe I'm jumping into a cold lake for a swim. After returning from my trip here six years ago I made a vow to never take the luxury of a hot shower or bath for granted and I never have!  

Monday I got to meet the students, 80 in all, ages 4-13 in classes from K-5.  After MacDella introduced me to each class, the children felt safe and at one point there were about 20 gathered around me outside shaking hands and high-fiving.  Many of the boys have never had an adult male in their lives (or only one that was a poor role model).  One young boy simply wrapped his arms around my legs and held on.  It was both sweet and sad. 

On Monday afternoon I was treated to a special holiday performance by the students which included singing, dancing and some humorous theatrics.  There are a few really talented young people in this group.  

After the generator is turned off around 9:30 pm it's really dark but your eyes get used to it.  I can't describe to you the feeling the other night when I was walking from the dining hall back to my room with the only light guiding my way a bright orange almost half moon.  A quiet voice from one of the dormitories said, "Good Night Mr. Felix."  It was just so sweet. 

On Tuesday and Wednesday, as the 'responsible adults' came one by one to the Academy to pick up their children, the message that Ms. Cooper conveyed to them the night before was clearly present with them:  "When you go home you are an ambassador for the MCF Academy and what you have learned here.  We expect you to behave properly and not slip back into the ways of the street that you grew up around.  You know the right things to do.  Just do them and make us and yourselves proud."  Environment is a powerful drug but while I had only had the chance to spend two full days will all 80 students, I saw the impact of the training that their time at the school has had.  

As the week has gone on, the children have gotten more and more comfortable with me and have been asking me questions and telling me things.  Do you have a family?  What are their names, their ages?  I show them some photos.  How far away is America?  I show them a map.  In just a few days I can see there has been some independent study going on about America in the school library.  Like young people everywhere, these children are sponges.  They hear everything you say.   

Thursday and Friday:  We're staying in a house on the outskirts of the capital city of Monrovia a few days to pick up provisions, run some errands and give the eight students who truly have no parents to go home to a change of scenery.  

Driving in the interminable traffic to take care of a few things in downtown Monrovia, I noticed some real changes.  The main drag, Tubman Boulevard ,was now paved as opposed to being full of shell holes from the war.  New buildings have sprouted up.  The presidential palace is inspiring to say the least.  A couple of new hotels, including at least one luxury resort on the beach have opened.  We drove by the apartment building on 18th street which was our home last time and the 'shanty' residences that had lined the street were all gone.   Billboards tout "Liberia's Top Student" and have other uplifting messages.  But, the dichotomy between the 'norm' and the 'new' is staggering to stay the least.  Change takes time.  Lots of it.  However, like a friend of mine told me years ago, "You don't have to be going straight, just forward!"

MCFA accepts resident students based on a rigorous screening process.  The investment made in each student is not inconsiderable in Liberian terms.  The all-in cost is $2400 per student per year. At this time of year, everybody and their brother is asking you to donate to this, that or the other charity.  So, I'm not going to make a plea here.  But I am going to convey this piece of information:  You can sponsor an individual child at the MCFA for $300 a year!  From what I've seen, professional fund raisers break these type numbers down into things like "You can make a difference in a child's future for less than a dollar a day" or "Instead of going out for one expensive dinner…."  So, I'll just leave it to you, in your own good time, to read about what MCFA does.  While the website is words and pictures, I'm here to tell you that everything stated is real, and good, sincere, committed and passionately executed.  Hey, why don't you come down for a week and see it for yourself?  

Even for a man of many words, the experience of being here is hard to describe.  Perspective is a wonderful thing.  I have also been getting some good introspective time which is much needed at this time.  

RCA U.S. Capital Trends 1212

• Office: While November is a typically slow month for closings, sales of significant office properties totaled $6.9Bn, more than double the volume from a year earlier.
• Apartment:  Falling cap rates in many markets being offset by increased activity in higher-yielding secondary markets.  Markets posting the largest declines in cap rates this year are Boston, Houston, San Francisco, Seattle.
• Retail: The largest sales last month occurred in higher-yielding secondary markets such as Atlanta, Pittsburgh and Portland.
• Industrial: Nationwide cap rates were up 20BPS last month to an average of 7.9%, although this may be more due to the dearth of  recent institutional transactions versus a change in market direction. 
• Hotel: The largest hotel transaction in November was Sahara India Pariwar's acquisition of a 75% interest in The Plaza Hotel in New York that valued the asset at $575MM.

The Final Trippple Rippple 121212

This party is the brainchild of a good friend of mine.  The idea was hatched when she and some of her friends had a New Year's Day brunch at Windows on the World, atop the World Trade Center on 01/01/01.  Each year since then, she organized an event on the Trippple Rippple date.  Some of the themes:  02/02/02 Groundhog Day Bowling; 03/03/03 Ping Pong and Pool; 05/05/05 Margaritas on Cinco de Mayo; 06/06/06 Devil Dogs in Hell's Kitchen; 11/11/11 Rolling 'YO' Eleven; 12/12/12 Cocktails on Little West 12th Street.  Why should kids have all the fun?

Congratulations

• Brad Barsily who has joined Rubenstein Partners.

As John Lennon said, "Happy Christmas."