Relax! You'll be more productive / Valentine's Day Special Delivery / We can learn from everyone

Relax! You’ll Be More Productive

My son Brian forwarded me an opinion piece that appeared in the February 10th, 2013 edition of the Sunday New York Times.  Written by Tony Schwartz it’s titled  “Relax! You’ll Be More Productive.”  The following conclusions, supported by research statistics, are taken directly from the article.

• “The best way to get more done may be to spend more time doing less."
• “Strategic renewal — including daytime workouts, short afternoon naps, longer sleep hours, more time away from the office and longer, more frequent vacations — boosts productivity, job performance and, of course, health."
• “Time is finite, and many of us feel we’re running out, that we’re investing as many hours as we can while trying to retain some semblance of a life outside work.”

More than just a fascinating concept it’s an approach that is game-changing. This article may get you to think differently.

Valentine’s Day Special Delivery

On February 14th the world celebrates Valentine’s Day.  An idea came to me this week that I want to bounce off you. What if we started thinking about Valentine’s Day as simply a day to love and appreciate our fellow man and woman? What do you think of this simple conceptual shift? 

On this topic, NBC’s Today Show on February 14^th featured a segment about a growing movement across America: children are making hand-made Valentine’s Day cards for senior citizens.

From the Foxborough, Massachusetts PatchNetwork website, “This project was special.  Usually, the children’s art creations are displayed proudly on their family’s refrigerator. Our hope was that these cards would bring a smile to someone’s day who normally wouldn’t receive a young child’s artwork. It shows that little hands can make a big difference,” said Laura Feeney, Owner of Butterfly Landing Family Child Care in Foxborough.  

How thoughtful!  How special!

To all my cherished readers, consider yourself loved this Valentine’s Day!

"We Can Learn From Everyone"

“We can learn from everyone – we just need to put our egos aside and listen.”  Said to me by Fabrizio Bona, a New York City-based real estate investor / broker with MNS Real Estate.

This quote reminds me of something I have been saying for years: When two real estate people get together they’re doing one of two things - talking or waiting to talk.  Of course, commercial real estate people don’t have an exclusive on this; it’s endemic of our society today: Too much talking; not enough listening. My storytelling-self sometimes slips into this mode. But with a newly discovered awareness, and reflection on Fabrizio’s comment, I continue be more mindful of the role I play in conversations.

  

Two feet of snow in New York!

Hidden Gem of the Week

Plant House, 249B West 29th Street, New York (212.244.1333).

A wonderful experience.  Plant House supplies greenery for the television industry, runway shows, hotels, you name it. If you love to be surrounded by beautiful flora you owe it to yourself to stop by and talk with the owner, Michael.

Congratulations!

• Jon Thompson joined MCR Development as Managing Director
• Andrew C. Holmberg now Senior Associate – Investor Relations at The Davis Companies
• Roberta Waxman-Lenz started as Investment Officer at The United Nations Joint Staff Pension Fund.

On The Road…

Feb. 20 – 21: IPD (Investment Property Databank) U.S. Real Estate Investment Forum (Launch of PREA / IPD U.S. Property Fund Index), New York, NY (Invitation only)

Mar. 14-15:  PREA (Pension Real Estate Association) Spring Conference, Washington, DC 

Mar. 14 – 15: IMN’s Bank and Institutions Conference on Workouts, New York, NY 

Mar. 17 -19:  NAREIM (National Association of Real Estate Investment Managers) Spring CEO Meeting, Santa Monica, CA (Invitation only)

Apr. 9 -10:  PERE (Private Equity Real Estate Magazine) Global Investor Forum, Los Angeles, CA 

Apr. 28 – May 1:  CRE (Counselors of Real Estate) Mid-Year Meetings, New York, NY (To include jamming with the CRE Rock ‘n Roll band, Sound Counsel).  CRE members only

May 29 – 30:  IMN (Information Management Network) U.S. Real Estate Opportunity Fund and Private Fund Investing Forum, New York, NY. 

June 4 – 5:  PERE Summit (Private Equity Real Estate Magazine), London, UK 

Disclaimer

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  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 or punctuation. 

RCA Europe Capital Trends 2012 / So Long New York City Mayor Ed Koch / Patience Required

RCA's Europe Capital Trends:  2012 Year in Review

A few takeaways from this report published on February 5, 2013 by RCA (Real Capital Analytics):

•  European transaction volumes and yields were largely flat in 2012 compared with 2011
• Cross-border investors increased their activity while domestic investors decreased activity
• Opportunistic buyers are beginning to feast on assets being unloaded by European banks
• ‘Office’ accounted for 42% of all transaction volume in 2012
• Investment capital from the Middle East and Asia (excluding-Japan) gathered further momentum
• The top five investment markets, unchanged in the last three years, are London, Paris, Berlin, Stockholm and Moscow in that order

I've always been intrigued by which cities are the 'hottest' for real estate investing.  Many of us remember the Japanese investors making their move in the U.S. (particularly in New York) during the 1980's, buying trophy assets for what amounted to zero current return while looking 50 years down the road to make money.   When German institutional money first started investing in the U.S., some said that they invested in cities where high-end retail was in abundance.  Now, with real estate capital seamlessly flying around the world, it's interesting to see who invests where.  There is a lot of Israeli money being invested in New York and London commercial real estate these days.  Safe havens?  Only time will tell.  It's not just the institutional real estate investors that move like a herd; individual investors talk with each other, watch each other's deals and say, "Hey, do they know something we don't know?"  Fascinating!

So long to former New York City Mayor Ed Koch

In the book "Type A Behavior and Your Heart," authors Drs. Meyer Friedman and Ray Rosenman suggest that to objectively view oneself, every few years, you should write your own obituary.  For as much work as I have done rehabilitating the Type A behavior in me, I have yet to tackle this assignment.  It's not so easy…But what brought that to mind was reading the eulogy New York City Mayor, Michael Bloomberg, gave to former New York City Mayor, Ed Koch.  Even if you knew nothing of Mayor Koch you might appreciate reading the eulogy.  

Here it is.

Patience Required

As a fund manager I would think it's not easy to have reached the stage where an investor is prepared to invest with you and then keeps putting you off, month after month. You are told that everything will be finalized next week or next month; but then it’s not. 

Thomas Paine said in 1776, "These are the times that try men's souls."  In one way or another, we are living through a period where our patience is being tested.  And, no matter what type of situation, it's really all the same.  We want to make things happen and truly believe we can when we want to.

One of the biggest lessons I’ve learned (although sometimes I need to remind myself) is that if you push, the other side will push back.  If you lay back, there's an excellent chance they will come to you. It takes courage and faith to handle things that way, as it's often contrary to our basic nature.  But when I think of some of the best things that have ever happened to me, it's when I waited… and then waited some more. Patience truly is a virtue.

Mick Jagger and Keith Richards (need I identify them as the principal song writers in The Rolling Stones?) wrote, "You can't always get what you want but if you try sometimes, you'll get what you need."  We don't know for sure what they were thinking about when they wrote those lines and that's the beauty of poetry and music lyrics - we can interpret them ourselves.  But what's important for me in that famous line is that if, more often than not, you get what you need, you are way ahead of the game.  Appreciate what you have and try not to be disappointed about what you’re still looking for.  Life is not about all or nothing.  It's about all the places in-between.  Enjoy the journey!

On The Road Feedback

Last week’s piece about my brother Gregg elicited a number of responses.  Some of them left me teary.  Thank you for taking the time to share something of yourself with me.  The community that exists around this weekly column is extremely special to me.  As you would expect, different subjects resonate with people.  And, as I've learned over the years, there is a robust pass-along of certain columns - to a spouse, son or daughter, a friend or industry colleague.  It's an incredible feeling when someone whom I've never met comes up to me and says, "Steve, your column was passed along to me and I really liked it." If nothing else, sharing something of ourselves with our fellow travelers through life helps to connect us.

The World According to Mister Rogers

Fred “Mister” Rogers shared wonderful life experiences and observations with his TV audience.  While unpacking the remaining boxes from my move to New York, I found a cherished book called, "The World According to Mister Rogers: Important Things to Remember."  Please allow me to share a few of my very favorite quotes from this kind and gentle soul:

• "The gifts we treasure most over the years are often small and simple.  In easy times and in tough times, what seems to matter most is the way we show those nearest to us that we've been listening to their needs, to their joys, and to their challenges."

• "What makes the difference between wishing and realizing our wishes?  Lots of things, and it may take months or years for a wish to come true, but it's far more likely to happen when you care so much about a wish that you'll do all you can to make it happen."

• "Some days, doing "the best we can" may still fall short of what we would like to be able to do, but life isn't perfect - on any front - and doing what we can with what we have is the most we should expect of ourselves or anyone else."

Mister Roger’s Neighborhood was a TV show for children…or was it?  Fred encouraged children to believe in themselves, to always try their best and to listen to their heart.  To be exposed to that philosophy at a young age provides solid building blocks for life.  His message, justifiably so, is something that will be passed down from generation to generation.

Just Curious - Does Size Matter?

On what device do you normally read this column?

Is the font too big, too small or just right on that device?

Kindly let me know.  Thank you for your feedback.

Congratulations!

James Gibson who has accepted a summer internship with the J.P. Morgan Real Estate Banking Group.

C.H. Meili promoted to head the Real Estate Department at Colorado Public Employees Retirement Association.

David Gillan is now Head of Real Estate at New York State Teachers Retirement System. 

On The Road…

Feb. 20 – 21: IPD (Investment Property Databank) U.S. Real Estate Investment Forum (Launch of PREA / IPD U.S. Property Fund Index), New York, NY

Mar. 14 – 15:  IMN (Information Management Network) Bank and Special 

Asset Executive Conference on Real Estate Workouts, New York, NY 

Mar. 17-19:  NAREIM (National Association of Real Estate Investment Managers) 

Spring CEO Meeting, Santa Monica, CA

Apr. 1 – 5:  Meetings in Chicago, IL

Apr. 9 -10:  PERE (Private Equity Real Estate Magazine) Global Investor Forum, Los Angeles, CA

Apr. 28 – May 1:  CRE (Counselors of Real Estate) Mid-Year Meetings, New York, NY (To include jamming with the CRE Rock ‘n Roll band, Sound Counsel).

June 4 – 5:  PERE Summit (Private Equity Real Estate Magazine), London, UK

Disclaimer

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  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 or punctuation. 

NAREIM Meeting / Davos / Brazil Night Club Fire / Gregg Felix

NAREIM Asset Management and Acquisitions Meeting

On January 31, 2013 I was in Dallas to moderate two panel sessions at the NAREIM (National Association of Real Estate Investment Managers) Asset Management and Acquisitions Meeting.  It was a treat for me as I was able to meet dedicated professionals and work with a group of knowledgeable and well-spoken panelists.  Both panels focused on challenges and opportunities: the first was Asset Management and Operations; the second Acquisitions and Capital Markets.  

As I frequently do when moderating panels, I asked everyone in the audience to briefly introduce him or herself so everyone knows who is in the room and so I may learn if there is someone that can contribute to the conversation. 

I’d like to share a few of my takeaways:

• Retailers:  Everyone is closely watching bookstores, office supply stores, Best Buy, Sears, JC Penney and Kmart as their futures seem uncertain.
• Cheap debt is allowing some retailers to sustain their operations.
• More bidders on prime properties in gateways markets than in years 
• Leasing upticks heating up activity in secondary markets 
• Challenges of buying office buildings without definite job growth in sight
• What impact will the gradual return of CMBS (Commercial Mortgage Backed Securities) have on the commercial real estate landscape?

Davos – The World Economic Forum

This annual meeting in Switzerland took place on January 25-27, 2013.  As described on their website, “The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.”

Although not in attendance, I poked around their web site to see what was being discussed.  I pulled a few quotes from the “Blog” section that got me pondering subjects I normally don’t think about:

• “Real opportunity exists for organizations to step up and create the conditions and commitment needed to encourage and foster innovation in their work environments. And there’s a tremendous upside if we get this right: we can better retain talent, remain more competitive into the future, and more positively affect society.”  Barry Salzberg, Global CEO of Deloitte Touche Tohmatsu Limited

• “We can only be resilient as a society if the building blocks of that society – individuals and families – are resilient. The consumer and technology industries have an important role to play in developing the innovations that will help people bridge the gap between aspiration and reality to achieve a healthier and better lifestyle. If we can tip the scales in favor of the healthy choice, we can make a meaningful difference to society as a whole.” Pieter Nota is CEO Philips Consumer Lifestyle 
• “Imagine if we created a method where a candidate could learn, benefit and improve on their existing skill set, whether they got the job or not.  What if we created a process that removes the innate structure of rejection as seen in traditional recruitment and instead gives every applicant powerful development opportunities, regardless of whether they get the job? In a world with 75 million unemployed young people, it’s time to break the cycle of recruitment, to change the employment game to one where the rules are actually fair. Together, we can create systems of training, insight and feedback that ensure every candidate that applies for a position gains value from it, and that every employer has access to brilliant, ever-improving talent.”  Rajeeb Dey, founder of Eternships.

This is big stuff. It made me reflect on how important it is to take time away from our daily routines, go to our quiet place and just think. It’s so easy going day-to-day doing what we need to do, what we have to do. But, being busy sometimes is a way to avoid thinking – I did this for many years.  A long-time industry friend told me at breakfast this past week that he doesn’t mind his 40-minute drive to work because he uses it as private time - no radio, no phone calls.  Where do you do your best thinking?  Where do your best ideas come from?  And, what do you do with these ideas?  

Brazil Night Club Fire 

When I read about the fire in the Brazilian nightclub that killed 235 people last weekend I remembered all the nights I spent in nightclubs and bars while playing in a rock and roll band.  We never gave one moment of thought to things like, "Where are the exit doors?" or "What happens if a fire breaks out?"  We simply did not think about those things back then as we were too caught up in playing music and hanging out with our friends. 

It’s human nature that after a tragedy like this, people pay more attention to their surroundings. There are a number of unanswered questions in this case. For example, was the occupancy limit exceeded? Were there enough clearly marked exits?  Did the club manager understand the band’s plan to use pyrotechnics?  Having said that, we need to take responsibility for ourselves and not rely solely on others to protect us.  Be aware of the situation.  Be proactive.  If something doesn’t feel right or smell right then it’s usually not. Trust your instincts.  Take a minute to look for the exits when you arrive remembering that, like on airplanes, they may be behind you.  Perhaps we need more emergency training provided to employees of venues that attract crowds like theatres, supermarkets, schools, hospitals, shopping malls and night clubs. 

Tragic incidents like this will have long-lasting impact and the lessons learned may result in steps taken to save lives.  It’s not healthy to live your life in fear of an impending disaster. Being aware and living with eyes-wide-open is a good rule for all to remember and share with others. 

Gregg Felix 

On Sunday, January 27, 2013 I watched my youngest brother, Gregg, and 149 fellow "intellectually challenged" individuals bowl in the Over-30 Special Olympics Bowling Tournament in Southern New Jersey. 

When Gregg was born the phrase the doctors used was “brain-damaged.” "Mentally retarded" was commonly used. Last week I learned that people in Gregg's community are now referred to as "intellectually challenged," certainly a more politically correct sounding definition. 

Many of the bowlers, including Gregg, stood at the foul line and threw or pushed ballsdown the alley.  It doesn’t matter how you get the ball down the lane; if you roll it in the right direction, and it doesn’t fall in the gutter, the pins drop. All participants got an award; the score didn’t matter.  Gregg bowled 90, 108 and 87. Everyone received a ribbon and the first, second and third place teams got a medal. There was celebration with abandon. The enthusiasm, evidenced by many high-fives combined with people rooting for one another (even those on different teams), was totally refreshing.  

My brother is a happy person and has a job at an Occupational Therapy Center.   Gregg has been living in a group home for many years as he cannot live on his own.  He was institutionalized when he was very young; a decision made by my mother, which my father begrudgingly agreed to.  It was difficult for me as a child to understand why Gregg didn't live at home with us.  He has the music in him like his two brothers and sings in a choir.  He's also very social and introduced me to people he's known for years in this program, either as employees or volunteers. I guess networking is in our genes!  

I have thought to myself many times how it could have been me that was born with a disability. It’s all so random.   And, once again, as I spent quality time with my brother, I closed my eyes and remembered how easy it is to take things for granted.  It’s powerful to see things from a different perspective and appreciate what we have. 

Congratulations!

• David Lynn joined Cole Capital Management as Chief Investment Strategist.

• Marcus Segui is now Vice President with Grupo Acero in Bogotá, Colombia.

• Carl Esser joined CBRE as Real Estate Manager for The Shops at Houston Center.

On The Road…

Feb. 20 – 21: IPD (Investment Property Databank) U.S. Real Estate Investment Forum and Launch of the PREA / IPD U.S. Property Fund Index, New York, NY

Feb. 28:  Asset Management Roundtable, New York, NY

Mar. 14 – 15:  IMN's Bank and Financial Institutions Special Asset Executive Conference on Real Estate Workouts, New York, NY

Mar. 17 -19:  NAREIM (National Association of Real Estate Investment Managers) Spring CEO Meeting, Santa Monica, CA

Apr. 1 – 5:  Client and other meetings, Chicago, IL

Apr. 9 -10:  PERE (Private Equity Real Estate Magazine) Global Investor Forum, Los Angeles, CA

Apr. 28 – May 1:  CRE (Counselors of Real Estate) Mid-Year Meetings, New York, NY (To include jamming with the CRE Rock ‘n Roll band, Sound Counsel).

May 16 - 17:  Hoyt Fellows Annual Meeting, North Palm Beach, FL

June 4 – 5:  PERE Summit (Private Equity Real Estate Magazine), London, UK

June (Dates TBD): ULI (Urban Land Institute) Real Estate Capital Markets Conference, San Francisco, CA

Sept. 10 - 11:  GRI (Global Real Estate Institute) Europe Summit 2013, Paris, France   

Oct. 20 - 23:  CRE (Counselors of Real Estate) Annual Convention, San Francisco, CA

Nov. 5 - 8:  ULI Fall Meeting, Chicago, IL

Disclaimer

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  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 or punctuation.