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A few treats about real estate
& technology on a Friday
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Welcome to the inaugural edition of S’mores - Bonfire's snack-bite digest of mind-bending real estate, finance, or blockchain stats, quotes, and stories.
Bonfire has evolved into an Investor Club targeting 8-12 curated commercial real estate deals per year that can achieve 15% annual IRRs that have minimum buy-ins of $1,000 (instead of typical minimums of $100K).
If you are interested in receiving these newsletters
and/or finding out about investment opportunities,
please hit reply to this email and let us know.
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With Fitch downgrading the USA’s credit rating from AAA to AA+, it is worth considering how we got here. It took the U.S 205 years to add the first $1 trillion in debt. We just did it again in two months since the debt ceiling deal. No bueno.
 Additional resources: This piece from Lynn Alden’s provides a great analysis of the implications of all of this debt. It’s a long read but worth it.
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San Francisco has 30 million square feet of vacant office space compared to less than 10 million square feet only four years ago. |
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Bonfire's Question: With all of these vacant offices combined with an acute national housing shortage, is it a viable strategy to convert offices into apartments? Check out Loopnet’s take on the pros and cons of office reconversion and Silversteins’ first office-to-apartment conversion project.
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“If Taylor Swift were an economy, she’d be bigger than 50 countries.”
Taylor Swift’s current tour, spanning 53 U.S. cities and 131 global locations, will generate ticket sales expected to surpass $1 billion and $4.6 billion in consumer spending in the U.S. alone. What does Swift’s tour have to do with real estate? Find out here. |
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Bonfire will soon launch our next asset. We are targeting around
10 curated investments per year
with targeted 15% annual IRRs
from A+ sponsors. If you would
like to find out about our
investment opportunities either
hit "reply" or sign up for a free
account here.
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Have a wonderful weekend!
Joshua Kagan, Co-Founder, Bonfire
Forwarded this newsletter? Sign up here
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