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Commercial Real Estate News

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Image credit: The White House In an unexpected move yesterday, the White House released a wide-ranging set of recommendations for reorganizing several federal agencies. The 132-page report covers government-wide reorganization proposals that could have major impacts on the real estate industry as the report stakes out the administration's positions calling for more private sector involvement in managing the government's real estate. Among other...
Pictured: 60 Holborn Viaduct, EC1. LONDON -- Hines has instructed Cushman & Wakefield and Knight Frank to sell the building in London’s Midtown for a net initial yield of 4% - a capital value of US $1,744 (£1,315) per square foot. The asset, at 60 Holborn Viaduct, EC1, is expected to tick all the boxes for a number of investors currently circling the London market. The freehold building is let to Amazon, the world’s largest online retailer by...
Pictured: The James Hotel, acquired earlier this month by Junius Real Estate Partners in an $83.1 million deal.Hotel properties in downtown Chicago and the suburbs have been changing hands and refinancing loans as the industry has enjoyed a prosperous streak this year, thanks to record tourism numbers and robus
Cushman & Wakefield isn't the only commercial real estate firm testing the public markets this week. Essential Properties Realty Trust, Inc., a real estate investment trust that owns and manages triple-net, single-tenant commercial properties, raised $455 million by offering 32.5 million shares at $14. The $14 per-share offering was at the low end of what the company hoped to raise, which was net proceeds of $542.7 million at $17 a share. The shares...
A Houston company has pulled its first construction permit for the foundation of a long-anticipated project in downtown Denver. Plans for Patrinely Group’s Block 162 project were first floated in early 2016 as a 32-story office and hotel development on 15th Street between Welton and California streets. Updated marketing materials reflect slightly less ambitious plans for a 30-story office tower totaling 595,000 square feet. A representative...
National Real Estate Investor
The changes, which would require congressional approval, would give Fannie, Freddie and their competitors access to an explicit guarantee on mortgage-backed securities that would only be accessible in “limited, exigent circumstances,” according to the report.
The Supreme Court ruled that states can force online retailers to collect sales tax, Reuters reports. The Trump and Kushner family businesses are stepping away from their hotel plans in New Jersey, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.
The REITs’ transition from an aggressive acquisition posture to a more disposition-anchored strategy comes against the backdrop of a decline in occupancy rates, a drop in rental rates and a volatile interest rate environment.
Fundraising has increased for the asset class, and new players have entered the space, looking to grow and diversify.
Nigel Morris is joining the board of LendUp Global Inc. and boosting his investment in the firm, which uses machine learning to look beyond traditional credit scores in the subprime market.
Wall Street Journal
Germany’s Puma has signed a lease deal to creating a marquee location on Fifth Avenue that will be the first of its kind for the company in North America.
The real estate arm of Brookfield Asset Management is in advanced talks with Kushner Cos. to buy roughly a 50% stake in 666 Fifth Ave. and invest hundreds of millions of dollars in the Manhattan office tower, which has been at the center of a controversy over possible conflicts of interest involving Jared Kushner, President Donald Trump’s son-in-law and adviser.
Normandy Real Estate Partners’ $133 million deal for the upper portion of ABC Carpet’s flagship store is an example of office space edging into territory that once was retail’s domain.
When Chinese regulators seized control of Anbang Insurance, they took ownership of more than a dozen luxury U.S. hotels. Now, as the government looks to sell, it faces a problem: The buildings likely are worth less than what Anbang paid only a couple of years ago.
After a two-year plunge, brokers are optimistic that more deals will take place in 2018.
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