Swaroop Shere @swaroopshere

Diwali ki Shubhkamnaye! Have you noticed Civic Center glowing in a saffron color this month? It's in honor of our Hindu American community and their contributions to our great city. The City Council proclaimed October as Hindu American Awareness and Appreciation Month.

Comet C/2023 A3 visible in the evening skies from the Bay Area #CometC2023A3 #sf #bayarea @DublinPIO

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Well, the ECMWF HRES 12z model update puts an end to the Northwest U.S. with the most brutal Arctic blast possible. Nice knowing y'all. 77.7°F below normal temperatures. 📉 Actual temperatures in the minus 50s °F and wind chills

I have analyzed over 250 multifamily deals, spoke with dozens of brokers, lenders, and other operators across the country this year. The last 6 weeks is materially different. Multifamily pricing this year is already +25% of peak values. Now, nearly every marketed deal is missing pricing expectations by +20%. This month alone represents 5-10%. That means what was a $40m deal in 2022 is now asking $30m and receiving bids at $24m - IF they catch a bid. There is an entire class of deals throughout the sunbelt that can’t even get equity interest until the lender takes over. We are talking deals worth $.50 on the debt for an appropriate risk-adjusted return. This covers core urban towers to class C suburban garden-style deals. Equity expectations has shifted to year-1 positive leverage at minimum for a well located class B deal. 6 months groups were ok taking 100bps of negative leverage. So what was a 5% cap is now a 6% cap. From a pricing standpoint, that 1% of cap rate movement (the difference between positive and negative leverage in this instance) would represent about a decrease of $10m on a $40m (now $30m) deal. Brokers are no longer trying to save face about this issue. They are well aware of pricing expectations. Furthermore, since volume is down 50-70%, they have no time to waste. The focus is now finding willing market sellers. They don’t want to process deals that sellers will pull if pricing misses what they think - because it inevitably will miss. The issue is most of these “willing”, now forced, sellers aren’t actually in the driver seat. The equity on their deals is worthless. Zeroed. It’s now up to the lenders on how to process. But most haven’t foreclosed yet. Lenders have kept it cool up until about 4 weeks ago. They refused to acknowledge the elephant in the room. Now news is breaking on restructurings, foreclosures, fraud, and missed pricing expectations. Up to this point, lenders have been current on loans. Now they are not. Lenders are waking up. They realize if they do not move right now then the issues only multiply. We are just starting to receive loan sales. But this is just the beginning because fundamentals in the market have remained relatively strong. But things are changing. Operators are in full asset management mode. Rents are slipping, expenses are up, and loans are maturing. The goal today is maintain quality occupancy and fight against delinquency. Most operators have stopped high-end renovation plans as the premiums are commanding the same rents pops as the past. What was a $10,000 interior renovation for $200 rent pop is now a $13,000 renovation for a $100 pop. It just isn’t worth it. Once (if) we start processing the bubbling issues in the broader economy, and the glut of supply releases at the same time as fundamental softening, there will be massive issues near term in the multifamily space. Get ready because it is about to get spicy 🌶️

But of course they will approve it 😒

ABC7 News @abc7newsbayarea

3 years ago

Your PG&E bill may be going up, way up. The utility is asking the California Public Utilities Commission to approve a rate hike that could increase bills by up to $31 per month. abc7ne.ws/40j1oSf

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16 Biases that distort your Decision-Making 1. Anchoring Bias You rely heavily on the first piece of information you receive. Example: First seeing an expensive watch makes others seem cheaper.

Watch as the 230-foot-long, 105-ton bridge is lifted and set it across Dublin Blvd. Have you seen the new Iron Horse Trail Bridge for yourself yet?

When viewing a solar eclipse, always remember these important steps: 1. Put on your eclipse glasses 2. View the solar eclipse 3. Look away from the Sun to take off your glasses Let’s keep our eyes healthy and safe!

The Iron Horse Trail Bridge will be lifted & set across Dublin Blvd. early Sunday morning around sunrise. We can't give an exact time, as many factors can speed up or delay the lift, but we invite you to view the exciting hoist from the Don Biddle Community Park parking lot.

The Dumbbell Nebula, captured with 14 hours of narrowband data.

seeing a lot of confusion around why layoffs are happening at companies with a lot of cash on the balance sheet. at the risk of getting roasted... here's a TLDR, for both public and private companies

Deep Learning for NLP This course is gold. It's a great course to learn of modern NLP (with deep learning). Video lectures are linked in the course home: web.stanford.edu/class/cs224n/i… 8/8

#NewProfilePic

yay for some rain!!

Colin McCarthy @US_Stormwatch

4 years ago

Some of the latest model runs are forecasting one of the wettest 10-day periods I have seen in years across California. The potential is off the charts for huge precipitation amounts, with a strong Pacific jet stream steering multiple atmospheric rivers into the state.

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Some of the latest model runs are forecasting one of the wettest 10-day periods I have seen in years across California. The potential is off the charts for huge precipitation amounts, with a strong Pacific jet stream steering multiple atmospheric rivers into the state.

Incredible, private investments in this sector are going to grow exponentially. On a different note, net positive energy with fusion is that watershed moment that seals my belief in potentially unlimited clean energy in the real sense.

U.S. Department of Energy @ENERGY

4 years ago

BREAKING NEWS: This is an announcement that has been decades in the making.   On December 5, 2022 a team from DOE's @Livermore_Lab made history by achieving fusion ignition.   This breakthrough will change the future of clean power and America’s national defense forever.

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42 inches being reported by Diamond Peak!

Sentinel One: $450m ARR, growing 106%, worth just $4B Jaw dropping growth, but not profitable yet Dynatrace: $1B ARR, growing 33%, worth $10.5B Solid, mature growth -- but 29% free cash flow margins The markets really, really want profitability right now

December 31 is the deadline for lots of random personal finance and tax stuff Here is a quick checklist of everything money-related you wanna look into before the end of the year 👇👇 P.S. Let me know if I'm missing something important!

I invested in a $5M pre money SAFE and the company just raised a Series Seed+ at $22.5M post. Am I up 4.5x? No .73x, here is the math. My mark up is the from pre money of the new round - post money of my round.