- WeWork, the Workspace Giant, Wants to Be Its Own Landlord, Using Other Investors’ Money “The unusual arrangement effectively makes WeWork its own landlord using other investors’ money, raising questions about how it will make deals with itself as a tenant while co-managing the fund.” (Wall Street Journal, subscription required)
- These 95 Apartments Promised Affordable Rent in San Francisco. Then 6,580 People Applied. “The nation’s housing policy for the poor can feel like a giant lottery. Sometimes it actually is a lottery.” (The New York Times)
- Wall Street Is Getting in on the House Flipping Game “KKR& Co. is raising its bet on high-interest, short-term home loans, the latest sign that Wall Street firms are aiming to cash in on the risky but lucrative house-flipping market.” (Wall Street Journal, subscription required)
- Treasury Yields Rise as Investors Turn Attention to Fed Speeches “Treasury yields rose slightly on Monday as investors looked ahead to speeches from senior Federal Reserve officials that could offer clues as to how the recent run of soft inflation data could alter the central bank’s rate hike trajectory.” (MarketWatch)
- At Toys ‘R’ Us, a $200 Million Debt Problem Could Lead to $348 Million in Fees “Last spring, Toys “R” Us, struggling in the face of competition, wanted to refinance about $200 million in debt. A year and a messy bankruptcy later, Toys “R” Us is expected to pay as much as $348 million for the dozens of bankers, lawyers and consultants that tried to fix its problems.” (The New York Times)
- Barnes & Noble: Why It Could Soon Be the Bookshop’s Final Chapter “America’s biggest bookstore chain has seen its sales slide for 11 years. With its stock price falling 8%, is the writing on the wall?” (The Guardian)
- Florida’s Real Estate Bubble: We May Now Know When It Will Pop “Every bubble eventually pops. In real estate, the million dollar question is always, when? Many Florida property owners may be surprised to find out that a very important vote, taking place this coming November, has the potential to impact the answer as to when our current bubble may implode.” (Miami Herald)
- Macy’s Should Close Stores Faster: Morgan Stanley “Despite Macy’s active reduction in its footprint since 2014, the national retailer may need to shutter stores even more aggressively, according to a research note from Morgan Stanley.” (Commercial Observer)
- BJ’s Upgrades Online Offerings with New Website, Pickup Option “BJ’s Wholesale Club has updated its website to include a new ‘Shop BJs.com – Pick Up in Club’ feature, according to a press release. Club members can purchase items at bjs.com and pick the order up in two hours at any of the retailer’s 215 locations for free.” (Retail Dive)
- FBI Raids Offices of Real Estate Developer Robert Morgan “FBI agents early Monday began searching the offices of Morgan Communities in suburban Rochester, the headquarters of real estate magnate Robert C. Morgan, whose holdings include thousands of apartments around Buffalo.” (The Buffalo News)
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