- Silver Bay to Buy 2,460 Single-Family Houses in Bulk Sale “The real estate investment trust agreed to pay $263 million for the properties, which are owned by The American Home and located mostly in the southeastern U.S., according to a statement Wednesday. The houses are more than 90 percent leased, with average rents of $960 a month, Silver Bay said.” (Bloomberg)
- After Boom, Bust Could Be Upon Apartment REITs “Last year, the category produced total returns, including dividends, of 39.7%, the best among all real-estate stocks, according to the National Association of Real Estate Investment Trusts. REITs overall recorded a total return of 28% last year, as the economy improved and interest rates stayed low. But in the last month, investors and analysts have cooled to the sector.” (The Wall Street Journal)
- Starwood’s New CEO Faced with Expansion to Catch Rivals “Starwood Hotels & Resorts Worldwide Inc.’s new chief executive officer may need to acquire new brands and expand into lower-priced segments of the lodging industry, avoided by the company previously, to catch up with growth at competitors such as Marriott International Inc.” (Bloomberg)
- What’s Ahead for the Skyscraper Market in Downtown Dallas? “This year is expected to be a big one when it comes to major skyscrapers trading hands in Dallas-Fort Worth, real estate sources say. North Texas recently was named as one of the top ranked cities in the globe for real estate investment, and real estate brokers expect to see a number of newly renovated skyscrapers trade this year, such as Ross Tower, which soon will be marketed by HFF.” (Dallas Business Journal)
- Real Estate Crowdfunding: Are IPOs the Next Step? “Internet real estate crowdfunding by its very nature has begun to spawn a highly fragmented group of competing platforms. As the industry matures and begins to shake out, it is possible that the more innovative and successful online franchises will be rolled up by larger financial institutions, and be rebranded, (think Zillow and Trulia). These companies may eventually choose to access public markets to raise capital.” (Benzinga)
- Blackstone Looks to Buck the Odds on Vegas Strip “At the Cosmopolitan of Las Vegas, the top four floors of the hotel’s 52-story east tower offer some of the Strip’s prime real estate. Views from the wraparound balconies stretch for miles, and ceilings soar up to 16 feet. Yet these rooms sit unfinished and have never been occupied by guests.” (The Wall Street Journal)
- Investors Snap Up Luxury Hotels Amid Rising Occupancy and Room Rates “Fueled by rising occupancy and room rates, investors bought 399 California hotels for a total of $5.1 billion in 2014, a nearly threefold increase from 2009, when 92 hotels sold for a combined value of nearly $1.8 billion, according to research by Atlas Hospitality, an Irvine hotel industry consulting firm.” (Los Angeles Times)
- Aby Rosen’s RFR Realty Launches Retail Division “Aby Rosen’s RFR Realty today announced that it is starting a new division, RFR Retail, to highlight its increased focus on retail through new acquisitions and leasing deals. Jordan Claffey, who was hired at the company last spring as vice president and director of retail leasing, will head up the new division.” (The Real Deal)
- Despite Amenities, South Street Seaport Redevelopment Plan Stalls Over a High-Rise “For years, a developer at the South Street Seaport in Manhattan has been planning a $1.5 billion redevelopment that it said would rehabilitate crumbling piers, preserve landmark buildings and bring new vitality to the 400-year-old historic district on the East River. But much like the Peking, the neglected four-masted bark still afloat at the seaport, the project appears to be heading nowhere.” (The New York Times)
- Apple to Revamp its Stores “Apple is in the process of redesigning its stores, drawing on the design expertise of Jony Ive. Ive, Apple's head designer, revealed he's working with retail boss Angela Ahrendts on a revamp of its stores in a lengthy profile with the New Yorker magazine.” (CNBC)
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