- To Woo Amazon, Cities Tackle Everything from Traffic to Housing “Amazon.com Inc.’s contest to find a place for its second headquarters is spurring civic leaders around the country to confront municipal problems that have confounded lawmakers and local leaders for decades.” (Wall Street Journal, subscription required)
- Apple to Pay $38 Billion in U.S. Taxes on Foreign Cash, Open New Campus “Apple Inc. will make about $38 billion in U.S. tax payments on its $252.3 billion in overseas cash in accordance with the tax law passed late last month, the company said on Wednesday. The company also said it planned to open a new campus at a location that it will announce later this year.” (Reuters)
- Commercial Real Estate Trends to Watch in 2018 “Political and economic uncertainty has pervaded the past year, with the U.S. economy showing signs of growth amid low inflation and a distressed retail segment in 2017, as accountants struggle to understand all the implications of the recently passed changes to the tax laws and Europe prepares for Brexit. Here’s a look at three commercial real estate trends to watch in 2018.” (Forbes)
- Emanuel Won’t Say Whether City Should Challenge Low Commercial Property Assessments “Mayor Rahm Emanuel on Wednesday again dodged questions about whether he’s willing to challenge the assessments of downtown commercial properties that are out of whack with their market values, an imbalance that shifts more of the property tax burden onto the city’s residential taxpayers.” (Chicago Tribune)
- U.S. Housing Starts Down Sharply on Drop in Single-Family Units “U.S. homebuilding fell more than expected in December, recording its biggest drop in just over a year, amid a steep decline in the construction of single-family housing units following two months of hefty gains.” (Reuters)
- After Dodging Bankruptcy, Bebe Stores Is Ready for Its Encore “On Tuesday, B. Riley Financial Inc. said it has amassed a 29% stake in Bebe by converting a loan into equity and acquiring additional shares. B. Riley has been granted two of five seats on the Bebe board of directors and will work to help the company generate dividends by acquiring cash-generating companies and using Bebe’s roughly $340 million of net operating loss carryforwards.” (MarketWatch)
- Emmitt Smith Is Back in the Real Estate Business with New Dallas Firm “Former Dallas Cowboys star Emmitt Smith is taking the field with a new Dallas-based real estate business. Smith – who has been investing in real estate since the 1990s – has formed a commercial property firm in partnership with New York-based Newmark Group.” (The Dallas Morning News)
- The Adaptations of Alan Bell: Why the Developer Won’t Build Market-Rate “Alan Bell has spent most of his five-decade career in New York City real estate focused on two simple questions: what are the city’s most acute housing problems, and what can he do to solve them?” (The Real Deal)
- Mortgage Applications Rise 4.1% as Borrowers See Last Chance to Get Lowest Rates “The rise in mortgage applications last week doesn’t make sense – unless you factor in fear.” (CNBC)
- After Xceligent Bites the Dust, CoStar Announces Kansas City Deal “Weeks after Xceligent declared bankruptcy and folded, the data company’s main rival and chief legal antagonist CoStar Group planted a flag in its hometown of Kansas City, Missouri.” (The Real Deal)
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