- Commercial Real Estate Thrives on Record Price Surge “In today's "Single Best Chart," Bloomberg's Olivia Sterns displays how commercial property prices have risen past the highs of the previous market peak in 2007. She speaks on ‘Bloomberg Surveillance.’” (Bloomberg)
- Real Estate Industry Should See Solid Growth through 2017 “The Urban Land Institute found in its semi-annual real estate forecast released April 8 that its latest estimates for economic growth were more optimistic for 2015 and 2016 across all real estate indicators except single-family starts. These findings are based on a survey of 43 economists and analysts representing leading real estate investment, advisory and research firms and organizations.” (National Mortgage News)
- Duke Realty Completes $1.1B Sale of Office Portfolio in Triangle, Three Other Markets “In an off-market transaction, a joint venture between Starwood Global Opportunity Fund X, Vanderbilt Partners and Trinity Capital Advisors has acquired 62 of the company’s wholly-owned suburban office properties, which offer a total of 6.9 million square feet and 57 acres of undeveloped land.” (Commercial Property Executive)
- Wal-Mart Says Walton Family to Sell Shares to Keep Lid on Stake “Wal-Mart Stores Inc (WMT.N) said the Walton family was putting 6 percent of the retailer's outstanding shares in a newly formed trust for possible sale to offset expected increases in its stake due to stock buybacks and to help fund charitable contributions. The amount of stock set to go into the trust is worth $15.6 billion at the current price.” (Reuters)
- Sears to Gain $114 Million from Real Estate Pact with Simon “Sears will transfer 10 properties valued at $228 million to a company that it will own jointly with Simon, the companies said in a statement Monday. A leaseback arrangement means Sears will continue to operate stores at the locations. Simon, a real-estate company, separately agreed to buy another Sears property at the La Plaza Mall in McAllen, Texas.” (Bloomberg)
- News Corp. and 21st Century Fox Consider Move to World Trade Center Site, Officials Say “News Corporation and 21st Century Fox, two giant media companies controlled by Rupert Murdoch, are considering building a joint headquarters in a new 88-story skyscraper at the World Trade Center, real estate and government officials said this week.” (The New York Times)
- VNO Exits from DC, Retail Platforms “Having already spun off its shopping center business into a separate, publicly traded REIT, Vornado Realty Trust is considering selling off its street retail properties as well as its Washington, DC holdings. Chairman and CEO Steven Roth made the announcement in his annual letter to the VNO’s shareholders, filed with the SEC on Friday.” (GlobeSt.)
- Much More Sovereign Wealth Could be Headed to NYC Real Estate “Sovereign wealth funds made quite a splash in Manhattan real estate in 2014, with north of $2 billion in deals. But that may only be the beginning. A growing number of government funds are looking to increase their investments in real estate worldwide, according to new data by research firm Preqin exclusively reviewed by The Real Deal.” (The Real Deal)
- Sprint RadioShack Launches in 1,435 Stores “The new network of stores, which are being branded as Sprint RadioShack, more than doubles Sprint’s company-owned retail format, the carrier said. It came about through a transaction last week in which General Wireless Inc., an affiliate of Standard General LP, acquired 1,743 RadioShack stores. Sprint agreed with Standard General to be co-tenants in 1,435 of those stores, with Sprint being the primary brand in marketing materials and signage.” (Chain Store Age)
- A Nation of Renters: Why it’s So Hard for Americans to Buy a Home “Though the economic recovery is six years in the making and home prices have recovered to their pre-bubble norms, the real estate market has changed radically—mostly for the worse. Even creditworthy borrowers are having difficulty securing a mortgage to buy a home.” (Fortune)
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