- Morgan Stanley Raises $1.7 Billion for Real Estate Fund “Morgan Stanley said on Wednesday it has raised $1.7 billion for its eighth direct investment real estate fund.” (Reuters)
- Real Estate Players Hunt for Big Dollars to Help Pass Housing Bond, Beat Mission Moratorium “A group of housing advocates and developers from across San Francisco’s political spectrum wants to raise at least $1 million to ensure victory for City Hall’s top priority on the Nov. 3 ballot. The $310 million housing bond, called Proposition A, has the support of the entire Board of Supervisors and hasn't yet drawn any major opposition.” (San Francisco Business Times)
- Rufrano’s Repositioning “Glenn Rufrano has a long to-do list. Rufrano, who was tapped to take over the scandal-plagued American Realty Capital Properties – now renamed VEREIT – in April, is now in the thick of trying to turn the real estate investment trust around.” (The Real Deal)
- U.S. Commercial, Multifamily Mortgage Originations Continue Strong Pace in Q2 “According to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, second quarter 2015 commercial/multifamily mortgage loan originations were 29 percent higher than during the same period last year and 16 percent higher than the first quarter of 2015.” (World Property Journal)
- Google Goes from Renter to Owner in Peninsula Deal “Sometimes, it's better to own than to rent. That's evidently what Google has decided. The Mountain View-based behemoth just purchased the San Bruno headquarters of its YouTube division.” (San Francisco Business Times)
- Second Time the Charm for Neiman Marcus? “The nation’s premier luxury department store company wants to return to the public arena, and use proceeds from the offering to repay some of its debt and invest in technology, among other things.” (Chain Store Age)
- Brooklyn May Soon Get a Tower Nearly as Tall as the Empire State Building “Brooklyn could soon have a residential skyscraper as tall as the Empire State Building. Developer Michael Stern, the builder of one of the tallest luxury condo towers on Manhattan's Billionaires' Row, and real estate developer Joe Chetrit have struck a $90 million deal to acquire the former Dime Savings Bank of New York, located adjacent to the famed restaurant Junior's in downtown Brooklyn.” (Crain’s New York Business)
- Some Investors Bid High on Phoenix Office Market “Despite relatively high office vacancy rates, some investors are starting to pay up for office buildings in midsize office markets such as Phoenix on the bet that vacancies soon will fall and rental rates will rise.” (Wall Street Journal)
- CEO Pay-Ratio Rule Likely to Heat Up Debate on Income Inequality “The pay gap between workers and the boss is about to get a bit more obvious. The Securities and Exchange Commission voted Wednesday to require public companies to disclose the pay difference between the chief executive and the average worker—a controversial measure that is sure to stoke an already heated debate about income inequality in the broader economy.” (Los Angeles Times)
- United Overseas Bank: A Growing Presence in New York Commercial Real Estate “Singapore-based United Overseas Bank is a quiet force among the many overseas lenders putting bigger bets on New York property. While less talked about in the commercial real estate industry than Bank of China and Japan’s Mitsubishi UFJ Financial Group, the publicly traded Asian bank has financed several newsworthy deals in the Big Apple over the past year.” (Commercial Observer)
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