- New FDIC Leader Joins Push to Re-Evaluate Banking Rulebook “Washington’s newest senior bank regulator is turning her agency’s agenda in the direction of policies being proposed by other Trump-appointed officials, adding momentum to a push to revisit rules adopted after the 2008 financial crisis. Federal Deposit Insurance Corp. Chairman Jelena McWilliams, in her first interview since being sworn in June 5, said she is ready to re-evaluate rules on bank capital, small-dollar loans and investments in low-income areas.” (Wall Street Journal, subscription required)
- Schroders Hires Head of Real Estate Capital “Robin Hubbard was named head of real estate capital at Schroder Real Estate Investment Management, a spokeswoman said. The position is new. Mr. Hubbard is responsible for the firm's global real estate capital raising and joint venture strategy. He focuses on raising capital for real estate funds and joint ventures and leads investor coverage and product development teams.” (Pensions & Investments)
- Developers Sue Lender Over Failed Collin Creek Mall Deal “Developers who wanted to rebuild Plano's failing Collin Creek Mall are suing a lender they say scuttled the deal. Developer Sam Ware last year announced plans to purchase and rebuild the 37-year-old shopping center on U.S. Highway into a $1 billion mixed-use development. But after months of working on the project, the property purchase this summer fell apart.” (Dallas Morning News)
- U.S. Banks Further Eased Business Loan Standards in Q2 2018 “Loan officers at U.S. banks reported easing lending standards for business loans for firms of all sizes while keeping terms for commercial real estate loans almost unchanged in the second quarter, a Federal Reserve survey showed on Monday. The officers also said they were seeing stronger demand for business loans from small firms and weaker interest in commercial real estate loans.” (Reuters)
- More Change Ahead for the City’s Shrinking Garment District “A group of manufacturers, landlords, designers and politicians has a plan to preserve a remnant of the garment industry in a neighborhood where about 5,000 people are still employed in workshops mostly serving higher-end designers, while doing away with zoning rules that critics said put onerous restrictions on prime real estate. City Hall wants to preserve at least 300,000 square feet for garment manufacturing, but allow real estate developers to bring in more 21st century businesses.” (Crain’s New York Business)
- Five Lessons from Over a Decade of Commercial Real Estate Brokerage Firm Ownership “Since leaving a nationally known brokerage company to start my own firm in 2005, I’ve learned many lessons about business, relationship and management — and that even after learning such lessons, things still happen that you just can’t predict. In the last 13 years of running a multifamily brokerage firm and remaining an active broker, five key lessons I’ve learned ring true.” (Forbes)
- Mattress Firm Explores U.S. Bankruptcy to Close Stores—Sources “Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways to get out of costly store leases and shut some of its 3,000 locations that are losing money, people familiar with the matter said. The deliberations make Mattress Firm the latest U.S. retailer struggling due to competition from e-commerce firms such as Amazon.com Inc. putting pressure on brick-and-mortar retailers.” (Reuters)
- Self-Storage Rents Still Down Year-over-Year “Substantial inventory expansion and slowing economic fundamentals continue to affect street-rate rents for 10×10 units. On a year-over-year basis, rents have dropped 3 percent in June 2018, after contracting by 1 and 2 percent in April and May. Western markets, such as Las Vegas and Phoenix maintained surging growth, having gained 11 and 5 percent year-over-year through June. Southern California rents also continued their slow rise, as limited opportunity for new supply has pushed improvement.” (Commercial Property Executive)
- Discounter National Stores Files for Chapter 11 “Discount retailer National Stores Inc., which operates under the Fallas and other brands, filed for chapter 11 protection Monday with plans to close 74 of its 344 stores. The retailer is working with its vendors, lenders and other creditors on a reorganization plan that it hopes will allow it to survive bankruptcy, according to a news release. Liquidation sales are slated to begin Thursday. National Stores has locations in 22 states and Puerto Rico.” (MarketWatch)
- Walmart, Nordstrom and Others Look to YouTube Stars to Woo Millennials and Gen Z “Walmart, the world's biggest retailer, is counting on a 6-year-old YouTube star to draw in gaggles of other pint-sized shoppers clamoring for bubble pets, T-shirts and capsules full of lime-green slime. On Monday, the store chain will debut Ryan's World, a toy and T-shirt line created by the first-grader whose YouTube channel, Ryan ToysReview, gets roughly 950 million views a month.” (CNBC)
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