10 Must Reads for the CRE Industry Today (December 28, 2015) Photo: Beyond My Ken

10 Must Reads for the CRE Industry Today (December 28, 2015)

 

  1. New approach to work changing real estate investments “The spread of the “sharing economy” is creating opportunities for real estate investment, said Robert O’Brien, global and U.S. real estate industry sector leader for Deloitte, based in the consulting firm’s Chicago office.” (Pensions & Investments)
  2. The Wall Street landmark left to rot “A  prominent piece of New York City real estate is kept vacant by a shadowy Chinese billionaire who goes by as many as seven different aliases.” (The New York Post)
  3. US holiday retail sales grow a 'solid' 7.9 percent: MasterCard “Strong online sales and demand for furniture and women's apparel helped U.S. retail sales grow by a "solid" 7.9 percent this holiday season, according to MasterCard Advisors SpendingPulse.” (Reuters)
  4. Goldmans Put Aside Differences to Strengthen Real Estate Business “Mr. Goldman, the nephew of New York real estate legend Sol Goldman, took an unusual step. He opted for creating an outside board of advisers that for more than a decade has played a role in the decision-making process as the family business has grown.”
  5. Harry Reid’s REIT Passage Saves Las Vegas Casino Companies $1 Billion “Sen. Harry Reid is estimated to have saved American casino companies roughly $1 billion in taxes when he eliminated taxes based on real estate investment trusts, or REITs, in the recent government budget omnibus bill. Companies like Caesars Entertainment and MGM Resorts have used REITs to shift company assets from the parent company to subsidiaries in recent years.” (Legal U.S. Poker Sites)
  6. U.S. Commercial, Multifamily Mortgage Debt Rises to $2.76 Trillion in Q3 “According to Mortgage Bankers Association's Commercial/Multifamily Real Estate Mortgage Debt Outstanding Report released this week, commercial and multifamily mortgage debt outstanding continued to climb in the third quarter, driven by increases in the dollar amount of loans held in bank portfolios. Banks accounted for 85 percent of the total increase, adding $32 billion to their holdings of commercial real estate loans during the quarter, the largest amount since the series began in 2007.” (World Property Journal)
  7. Here's how landlords will have to woo tenants in 2016 “One of the major challenges landlords will face in 2016 will be wooing tenants in an unstable market. Landlords will have to take more aggressive approaches in signing deals, experts say, and next year's tenants will likely demand more concessions and amenities in their leases.” (Houston Business Journal)
  8. Real Estate Investors Can Find Hidden Gold in the SEC’s Comments “EITs are heading into 2016 a little more uncertain than usual about what shape their industry will take for the year. On one hand, Congress has limited the situations in which companies can spin off their real estate into REITs with the passage of the budget bill. On the other, in that same measure it loosened FIRPTA's restrictions, giving foreign investors more incentive to invest in REITs. Or take them private.” (GlobeSt.com)
  9. Why Did REITs Rise as the Fed Increased the Rates? “The securities that stood out were Chimera Investment (CIM), NorthStar Realty Finance (NRF), Resource Capital (RSO), and New Residential Investment (NRZ). They had intraday returns of 6.3%, 4.2%, 12.4%, and 8.7%, respectively.” (Market Realist)
  10. Trump’s attacks raise eyebrows on Wall Street “Big banks and hedge funds, however, have played a pivotal role in the growth of his real estate empire, providing his companies with loans, acquiring stakes in Trump properties and restructuring debt terms in his times of trouble — as he has acknowledged happily in the past.” (The Financial Times)
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