- Under New Tax Law the Question Is, to Be or Not to Be a REIT? “The sturdy, reliable REIT is facing an existential choice. Should it abandon its tax-free structure to meet pressing capital needs, using the new U.S. tax law as a stepping stone? Or hang on to a status that gives it access to its very own set of investors?” (Bloomberg)
- What Amazon’s New Headquarters Could Mean for Rents “Winning the contest could mean a steeper increase in local housing costs over the next decade, a study finds. Nashville is already contemplating the impact.” (The New York Times)
- Silicon Valley Growth Spurs Huge Office, R&D Building Boom “A huge wave of commercial property construction is underway in the Bay Area, and Silicon Valley’s economic boom is fueling the growth, according to a report released Wednesday.” (The Mercury News)
- Jobless Claims Fall to Lowest Level in 48 Years “The rate of layoffs in the U.S. fell in late April to the lowest level since 1969, yet another sign a roaring labor market shows no sign of cooling off.” (MarketWatch)
- Retail Rents Plunge in Major Manhattan Shopping Districts “Retail rents in Manhattan fell in the first quarter as landlords adjusted pricing and offered more remodeling allowances, shorter terms and options for tenants to exit.” (Wall Street Journal, subscription required)
- Growing Up Poor Led A-Rod to Discover a Business ‘Better Than Baseball’ “And Rodriguez achieved his real estate dreams with Monument Capital Management, which owns about 10,000 multifamily units, and Newport Property Construction, which has managed the development of over $1.5 billion worth of properties, according to A-Rod Corp.'s website.” (CNBC)
- Which Is Best: REITs or Real Estate Crowdfunding? “If you're seeking the benefits of investment real estate but not in the market for the expense and workload of buying and managing rental properties, real estate investment trusts and real estate crowdfunding are ways to become a landlord.” (S. News & World Report)
- Hidden Fortress: Behind SoftBank’s $3.3B Buy of the Asset Manager “One venture that stands out from the rest is SoftBank’s $3.3 billion all-cash purchase of Fortress Investment Group — a major Manhattan property investor and lender — at the end of last year. While the move might make perfect sense for a traditional real estate or financial firm, it’s less clear-cut for Masayoshi Son’s tech-focused enterprise.” (The Real Deal)
- Charming Charlie Emerges from Bankruptcy with a Smaller Footprint, New Owners “Charming Charlie is no longer bankrupt. But it has fewer stores.” (Chain Store Age)
- City-Owned Buildings Must Use Green Energy by 2050 Under New Law “City-owned buildings will have to be completely powered by green energy by 2050 under a bill passed by the City Council Wednesday.” (Daily News)
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