- Texas Gives Silicon Valley a Run for Its Money “AT&T saw the benefits of moving to the Lone Star State before most. Texas has been our headquarters since 1993. As we've grown as a company—from $10.7 billion in revenues in 1993 to more than $130 billion in 2014—we've also seen Texas grow. During that time, the state's GDP nearly tripled, to $1.66 trillion. If Texas were a country, it would have the 12th-largest economy in the world.” (CNBC)
- Fitch: Commercial mREITs Eye Growth as Banks Keep CRE in Check “LoanCore Realty Trust Inc.'s forthcoming commencement of an initial public offering is the latest signal of the increasing role of commercial mortgage REITs (commercial mREITs) in the overall market for commercial real estate (CRE) lending, says Fitch Ratings. With between $350 billion and $400 billion of CRE loans maturing annually in 2016 and 2017, Fitch expects commercial mREITs to become more significant competitors to banks in CRE lending.” (Reuters)
- Only One Proposal Submitted for Casino in New York's Southern Tier “So far only one group—the Tioga Downs racino outside of Binghamton—has filed an application for a casino license in New York's Southern Tier, and it is the only bidder to submit an application by Monday's deadline. Bidding was reopened for proposals from the area after local leaders complained that the economically struggling region had been left out.” (Crain’s New York Business)
- American Apparel to Close Stores; May Need to Raise Capital “American Apparel Inc. warned on Monday that it may need to raise additional capital over the next year even as it embarks on an aggressive cost-cutting plan to help it end five years of losses.” (Wall Street Journal)
- How Realty Mogul, Online Capital Markets, Continue to Disrupt the Finance Game “In an explosive shakeup in the world of real estate crowdfunding, LA-based Realty Mogul has raised the largest amount of institutional capital in the crowdfunding sector's short history: $250M. It plans to use the cash for bridge and permanent lending.” (Bisnow)
- How US Investors Raised Largest-Ever Real-Estate Bond Offering in Israel “What led to the biggest, NIS 1.4 billion real-estate bond offering by a US company on the Tel Aviv Stock Exchange in late May? By the beginning of July, bonds from the offering had closed at 100.3, representing a small profit for those participating in the institutional and retail auction on top of the main attraction of the bonds—the regular interest paid to investors.” (Jerusalem Post)
- Greek 'No' Vote to Impact Real Estate Investments “Yesterday's 'No' vote on the Greek referendum on austerity measures is going to have an impact on property market investments in the region, reports Andrew Burrell, Head of Forecasting at JLL.” (World Property Journal)
- The REIT Bloodbath: Game Plan For 2nd Half “Anyone who follows REITs probably already knows this, but there is a great deal of debate as to why and what it means going forward. As REIT analysts, we are asked countless questions about the REIT market, and these questions largely boil down to the following 3.” (Seeking Alpha)
- BLS: Jobs Openings Increased to 5.4 Million in May, Highest on Record “From the BLS: Job Openings and Labor Turnover Summary: ‘The number of job openings was little changed at 5.4 million on the last business day of May, the highest since the series began in December 2000, the U.S. Bureau of Labor Statistics reported today. The number of hires was unchanged at 5.0 million in May and the number of separations was little changed at 4.7 million. ...’” (Calculated Risk Blog)
- Suit Alleges Nashville Real Estate Firm Committed Fraud to Buy Up Properties “A Nashville real estate firm faces allegations that it forged documents and committed fraud to snatch up distressed Middle Tennessee properties at bargain prices.” (Nashville Business Journal)
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