- Lightstone Gives Birth to Another REIT “Focusing on providing funding sources for development and redevelopment projects, Lightstone has launched Lightstone Real Estate Income Trust, Inc., a $300 million development finance REIT.” (Commercial Property Executive)
- Bill Ackman’s Gains for the Year Got Wiped Out in a Matter of Weeks “Pershing Square Holdings, the $7.4 billion publicly traded vehicle led by Bill Ackman, has erased all its gains in a matter of weeks and is down for the year.” (Business Insider)
- Meatpacking District Office Boom in Google's Shadow “In the 10 years the meatpacking district has been Google's New York home, the company has grown to encompass about 2 million square feet in four contiguous buildings—and with it, nearly 40% of the neighborhood's office space.” (Crain’s New York Business)
- Hong Kong Property Developer Invests in Co-Working Space Company NeueHouse “Hong Kong property company Great Eagle Holdings Ltd. is betting on the shared-office trend that is taking off in the U.S.” (Wall Street Journal)
- Associated Press to Move to New NYC Headquarters in 2017 “The Associated Press plans to move its global headquarters from Manhattan's far west side to a smaller, less-expensive space adjacent to the World Trade Center site, the news cooperative's president said Wednesday.” (Associated Press)
- Now's the REIT Time to Go Shopping For SWANs “As I sat down last night listening to the pundits on Fox Business discussing the impact of the global economy, I became increasingly fixated on the ominous headwinds, mainly depreciation of non-U.S. currencies and the impact on global profits.” (Seeking Alpha)
- How the Oil Slump is Affecting Residential Real Estate in Houston “For months, Houston developers have watched nervously as oil prices plummeted to six-year lows. As energy companies tightened their belts, developers wondered how the oil slump would affect Houston’s residential real estate market — particularly in the suburbs, which saw expansive growth during the energy boom.” (Houston Business Journal)
- After Sale of Site Off Mag Mile, Could High-Rise Proposal Be Far Behind? “A new developer is poised to take a swing at a high-rise project just off the Magnificent Mile after another one with a plan to build a 45-story hotel tower on the site struck out last year.” (Crain’s Chicago Business)
- Treasury Yields Climb as Wall Street Rebounds “Treasury yields continued to climb on Wednesday, with the 10-year yield reaching its highest level in more than a week, as Wall Street recovered from a six-session rout, and investors sold bonds in favor of riskier assets.” (Market Watch)
- Joseph Stiglitz Explains Why the Fed Shouldn't Raise Interest Rates “As central bank governors, Federal Reserve officials, economists and reporters convene for the annual economic policy retreat in Jackson Hole, Wyo., this weekend, the question on everyone's mind is: Will the Fed raise interest rates come September?” (Los Angeles Times)
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