- Kayne Anderson Deal Shows Student Housing Winning Favor “Investors are getting more comfortable with student housing. Consider Freddie Mac’s sale earlier this month of $734.5 million in commercial mortgage backed securities that were primarily backed by about 8,800 units of student housing owned by Kayne Anderson Real Estate Advisors LP.” (The Wall Street Journal)
- Dollar’s Rise Fuels Transatlantic Dash for European Real Estate “U.S. investors are buying European commercial property at a record pace as the dollar’s eight-month rally and struggling economies on the continent make offices, shops and warehouses cheap. U.S. spending on European commercial real estate last year was just short of the 2007 peak, according to Real Capital Analytics Inc. The record may be broken this year after a strong first quarter.” (Bloomberg)
- Empty Stores Haunt Landlords as More Retailers Plan Cuts “Empty stores from retailers that went out of business years ago -- such as Borders Group Inc., which had big floor plans that are hard to fill -- are dotting shopping centers across the country at a time the rest of the commercial real estate market has rebounded. They’re now going to be joined by thousands of additional stores that will soon be vacant as retailers such as RadioShack Corp. file for bankruptcy and department-store operators including J.C. Penney Co. and Macy’s Inc. cut locations to save money.” (Bloomberg)
- Inside Brookfield’s Swanky New Mall at the WTC “Brookfield Place will open the doors to its glitzy new fashion stores and food marketplace on Thursday. Located in the building complex formerly called the World Financial Center, the project is four years and $300 million in the making, an ongoing saga that's drawn much media attention for its ambitiousness. But though it's connected to one of the most expensive transit hubs ever built, the mall is actually aimed at locals.” (Crain’s New York Business)
- RadioShack to Fight for Dollar General Takeover “RadioShack Corp. said an offer from Standard General LP to save much of the iconic chain is the best to emerge from an auction, beating out rival offers that would see the retailer shut down.” (The Wall Street Journal)
- Fresh & Easy 3.0? Are They Finally Getting it Right This Time? “The challenges for Yucaipa remain as the next chapter unfolds. The variance in real estate always made a unified Fresh & Easy strategy difficult. Perhaps the rationalization to 100 or so stores finally ‘right sizes’ the store base. Myriad changes in strategy make it difficult to tell a consistent consumer story. And, in the meantime, the overall market continues to transform.” (Supermarket News)
- Denver Multifamily Market Heats Up “ColRich Investments, a private, family-run residential real estate development and investment firm, has added to its Denver area multi-family holdings with the purchase of a 357-unit property in Westminster, Colo. The sales price was not released.” (Commercial Property Executive)
- Crowdfunding House Flippers: Risks and Rewards “Home prices are rising at a fast clip again, which is bringing house flippers back to the market. Just like during the housing boom, they are buying distressed properties, doing quick rehabs and selling them for a fast profit. Unlike during the boom, however, some of these flippers can't get mortgages to ply their trade. So they're turning to the crowd, crowdfunding, to be exact.” (CNBC)
- Auto Body Shops Neighboring Citi Field Finally Agree to Vacate, Paving Way for $3B Mall “A group of Queens automotive businesses who held up a huge mixed-use development in Willets Point have settled a lawsuit with the city and the project's developers, removing a sizable obstacle for the first phase of construction. Under the agreement dated March 19, all litigation was dropped and a $5.8 million escrow fund was created to aid in the businesses’ move to the Bronx.” (Crain’s New York Business)
- Debrah Lee Charatan Speaks: Robert Durst’s Second Wife Explains Real Estate Connections “Charatan’s spokesman, real estate attorney Adam Leitman Bailey, described the nature of Charatan and Durst’s business dealings in a lengthy interview with Newsweek.” (Newsweek)
0 comments
Hide comments