- These 18 Cities Will See the Most Economic Growth Next Year “For the past few years, oil towns have dominated the ranks of the fastest-growing economies in America. Now that the energy boom is fading, a new leader is emerging: Retirement communities in Florida that are buoyed by a surge in baby boomers.” (Bloomberg)
- Fortress Closes Opportunistic Real Estate Fund at $1 Billion “Fortress Investment Group has closed opportunistic credit real estate fund Fortress Real Estate Opportunities Fund II at its $1 billion hard cap, spokesman Gordon E. Runte said in an e-mail. Fortress executives began raising the fund in 2014.” (Pensions & Investments)
- Life Time Fitness Sells $900 Million in Real Estate “Life Time Fitness sold the real estate assets of 29 of its 114 fitness centers for $900 million, raising funds to help pay for the founder-led buyout that took the company private again. The deals included two of its facilities in the Twin Cities, one in St. Louis Park and another in Eden Prairie.” (Star Tribune)
- Macerich Slips as Large Block of Shares Offered “Macerich Co. dropped the most in almost 12 weeks amid speculation Simon Property Group Inc., which attempted to take over the shopping-mall owner earlier this year, was responsible for offering a block of the company’s shares overnight.” (Bloomberg)
- International: Starwood Keen on Canada “Starwood Hotels & Resorts Worldwide has opened its second Four Points by Sheraton property in metro Vancouver. Located off Highway 1 in Surrey’s central business district, the 77-key Four Points by Sheraton Surrey opens its doors to guests June 18.” (Commercial Property Executive)
- TD Ramps Up NYC Real Estate Lending—But Stays Cool on Condos “TD Bank expanded its U.S. real estate lending by 9.5 percent in 2014, issuing $6.3 billion in new loans, in a further sign that major banks have regained their groove following the financial crisis. But while the Canadian lender is bullish on New York City as a whole, its head of U.S. real estate lending expressed caution over the luxury condominium market.” (The Real Deal)
- Will 2 Million ‘Boomerang Buyers’ Ignite Housing? “Lenders require seven years of credit repair after a foreclosure and four years after a short sale before they will consider another mortgage. About 700,000 boomerang buyers would therefore be eligible for credit again this year, and up to 2.2 million over the next five years, according to TransUnion, a credit information company.” (CNBC)
- Gap’s Fashion-Backward Moment “In a presentation to investors last week, Art Peck, Gap’s chief executive, spoke somewhat poignantly about the brand’s downward trajectory. When Gap’s latest round of store closures is done, its footprint in the United States will fall to just two-fifths of its peak in 2000.” (The New York Times)
- Access Point Financial Goes Where It’s Never Gone Before “Atlanta-based Access Point Financial, Inc. has entered the asset-backed securitization market with its first transaction representing $183 million of fixed-rate notes secured by 126 loans made to hotel owners throughout the United States.” (Commercial Property Executive)
- Pirch Lets You Take a Shower, Cook a Meal at its Stores “Unwind in a steam room. Sip on a fancy latte. Chow down a freshly cooked breakfast, and spend the afternoon drinking cold beer straight from the tap.Pirch, a California-based retailer with eight locations across the U.S., is looking to reinvent the way consumers shop for home appliances.” (CNBC)
0 comments
Hide comments