10 Must Reads for the CRE Industry Today (August 12, 2015)

10 Must Reads for the CRE Industry Today (August 12, 2015)

 

  1. John Paulson is Starting to Cash In on His Big Land Grab “After acquiring about 35,000 lots since 2009, Paulson & Co. shifted toward selling last year and is accelerating its disposition pace, according to Michael Barr, who manages the firm’s real estate. Paulson’s funds had invested $770 million, mostly in lots bought out of bankruptcies or other distressed sales, and acquired two dozen communities in Arizona, California, Colorado, Florida and Nevada.” (Bloomberg)
  2. Investing in Commercial Real Estate Deals is Getting Easier “Investing in commercial real-estate deals may become more accessible to many more people as the field gets a technology makeover and drops one of its rules. Investment managers will now be able to openly solicit investments online to accredited investors, creating instant access to deals and making more investors aware of deals in the first place. (The Street)
  3. McDonald’s Plans to Shrink by 59 Restaurants This Year in U.S. “McDonald’s Corp. plans to shrink by 59 locations this year in the U.S. as the company cuts costs and tries to revive sales. The chain is closing 184 restaurants and opening 125 new ones in 2015, according to a franchise operations document filed with the Minnesota Department of Commerce last month.” (Bloomberg)
  4. J.P. Morgan Recruits Business Development Head for Real Estate Americas “Alexia Gottschalch was named head of business development and client strategy, real estate Americas at J.P. Morgan Asset Management (JPM), said spokesman Matthew Chisum. The position is new. Ms. Gottschalch will lead the team responsible for raising capital and advising clients for the firm's real estate investment business in the Americas.” (Pensions & Investments)
  5. Why Healthcare Trust of America’s CEO is Bullish about Boston Real Estate “Boston is the largest market in HTA’s portfolio, with total investment in the area totaling 16 medical office buildings spanning 844,000 square feet, including the recent $101.5 million acquisition of 670 Albany St. near the BioSquare campus. Those holdings are valued at roughly $364 million.” (Boston Business Journal)
  6. Macy’s, Tishman Speyer Enter Real Estate Purchase-and-Sale Agreement in Brooklyn “Under the agreement, Macy’s will continue to own and operate the first four floors and lower level of its existing nine-story Fulton Street retail store, which will be reconfigured and remodeled. Tishman Speyer will purchase the portion of the site that Macy’s will not retain, which it will develop into approximately ten floors of distinct, first-class office space with appeal to a wide range of diverse companies.” (Street Insider)
  7. Too Much Money Creates its Own Problems “In the years following the 2008 crash, Barry Sternlicht was dubbed “the real estate bargain hunter” by the New York Times for buying up loan portfolios and properties at depressed prices and turning them into cash cows. But recently, Sternlicht has had difficulty living up to that moniker, at least in New York City.” (The Real Deal)
  8. An Old City Law Meant to Stop Brothels Has Gyms across Town Sweating “Companies hoping to expand quickly find themselves mired in red tape and lawyers' fees as they navigate the city's byzantine bureaucracy. The permits require companies to prove they will not have a negative effect on a neighborhood by divulging their business plans, filing applications with a host of agencies and answering questions at a series of public hearings, starting with the local community board.” (Crain’s New York Business)
  9. Miami Beach’s Eight-Block Landmark Shopping District Expansion Announced “Terranova, Lincoln Road shopping district’s largest property owner, released redevelopment plans to activate Lincoln Lane North by developing 723 North Lincoln Lane and 801 Lincoln road buildings. These buildings are part of Miami, Florida’s eight-block retail, dining and entertainment district located blocks from Miami Beaches.” (Chain Store Age)
  10. Electric Utilities: To REIT or not to REIT “New EPA proposals for coal-powered plants could delay potential financial engineering of transmission assets. The 13 largest transmission network owners could represent $60 billion in market capitalization as stand-alone C corporations. The transformation into REITs, while allowed by the IRS, will be open for evaluation by both the FERC and state commissions. Who will be the test case?” (Seeking Alpha)
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