10 Must Reads for the CRE Industry Today (August 10, 2015)

10 Must Reads for the CRE Industry Today (August 10, 2015)

 

  1. Day at the Apollo—Strategic Moves “Apollo Global Management L.L.C. has agreed to acquire a majority interest in AR Global Investments, L.L.C., a new company that will own a majority of the ongoing asset management business of AR Capital, an asset management firm focused on income solutions for retail investors, Apollo announced Thursday.” (Commercial Property Executive)
  2. Crain’s Fast 50 Fastest Growing CompaniesCrain’s Fast 50 is created by ranking companies in Crain’s database of private and publicly traded companies in two ways: by dollar amount of revenue growth between 2011 and 2014 and by percentage revenue growth during that same period. The two rankings are then added together to create the list. The lower the number, the higher the final rank.” (Crain’s Detroit Business)
  3. What Do July's Job Numbers Mean for Commercial Real Estate? 8 Top Economists Weigh In “The U.S. economy added 215,000 jobs in July (with a seven-year low unemployment rate), leaving many concerned the strong results could trigger the Fed’s long-awaited interest rate hike. Bisnow spoke to eight top economists to get their thoughts on what it really means for the commercial real estate industry.” (Bisnow)
  4. NGKF’s Jimmy Kuhn on Losing the Empire State Building Assignment “James Kuhn is stoical about his company’s removal from the Empire State Building portfolio, saying “It’s been a wonderful partnership.” (The Real Deal)
  5. Vornado Weighs Residential Conversion of 20 Broad St. “One of the city's largest commercial landlords is mulling a residential project in lower Manhattan. Vornado Realty Trust, which owns more than two dozen office properties in the city, is considering a residential conversion of either a portion or all of the 27-story, 473,000-square-foot downtown office building at 20 Broad St.” (Crain’s New York Business)
  6. Amazon Announces Joliet Warehouse, 1,000 Jobs “Online retailing giant Amazon.com announced plans for a warehouse in Joliet that will create 1,000 full-time jobs when it opens.” (Crain’s Chicago Business)
  7. Only One Thing Can Stop the Fed from Raising Rates in September “China is the only thing that seems to be in the way of the Federal Reserve a September rate hike.” (Business Insider)
  8. Activist Investors’ Secret Ally: Big Mutual Funds “When a low-profile activist investor gained a board seat at Microsoft Corp. two years ago, corporate boards around the country were stunned. How had a shareholder with less than 1% of the software giant’s stock forced its way into the boardroom?” (Wall Street Journal)
  9. Investors Find Ways to Indirectly Profit From Valuable Start-Ups “Airbnb’s valuation has ballooned over the last few years as large financial firms like Fidelity Investments and T. Rowe Price have rushed to invest in the start-up. But a small San Francisco-based hedge fund called Pier 88 Investment Partners has decided that the fervor for Airbnb shares creates a different kind of opportunity.” (New York Times)
  10. This REIT Bears Fruit Generated By Grocery-Anchored Tenants “This REIT Bears Fruit Generated By Grocery-Anchored Tenants “I first began to research Retail Opportunity Investment Corporation in 2011, in which I forecasted that the ‘competitive advantages outlined in this article promises to deliver significant value to investors as the best in class REIT continues to deploy capital to a consolidating and highly fragmented marketplace.’” (Seeking Alpha)

 

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