10 Must Reads for the CRE Industry Today (January 15, 2015)

10 Must Reads for the CRE Industry Today (January 15, 2015)

 

  1. Blackstone Said to Market First Rental-Home Securities of 2015 “Blackstone’s Invitation Homes is planning a $513.8 million deal backed by 3,072 properties, a person with knowledge of the matter said. A total of $227.8 million of top-rated securities may be sold at yields that float about 1.35 percentage points above a borrowing benchmark, said the person, who asked not to be named without authorization to speak publicly.” (Bloomberg)
  2. House Passes Legislation to Ease Some Dodd-Frank Financial Rules “It would delay by two years a Dodd-Frank mandate that financial firms sell off bundled debt, known as collateralized loan obligations; exempt some private equity firms from registering with the Securities and Exchange Commission; loosen regulations on derivatives; and allow some small, publicly traded companies to omit historical financial data from their financial filings.” (The New York Times)
  3. Secondary Market Moves: Non-Traded REIT Auctioneer CTT Buys APB “Central Trade & Transfer, an online auction site for non-traded REITs, has significantly inflated its presence in the online secondary-market transactions business in one fell swoop with the acquisition of the assets of its competitor, American Partnership Board.” (Commercial Property Executive)
  4. Target to Close All Stores in Canada, Conceding a Failed Expansion “Less than two years after opening in Canada, Target said on Thursday that it would close its 133 stores in the country, laying off 17,600 people. The Canadian operation was also placed under bankruptcy protection.” (The New York Times)
  5. Net Lease Deals Dominate Manhattan Office Market in 2014 “Throughout Manhattan, new leases comprised a larger chunk of all office deals in 2014, rising to 63 percent from 55 percent year-over-year based on square footage leased. That’s according to CompStak’s latest rent report, provided exclusively to The Real Deal.” (The Real Deal)
  6. Retail Lending Surges as Investors Hunt Yield: CBRE “Lending on retail properties in the U.S. skyrocketed in the first three quarters of 2014, up more than 50 percent from the same period the year before, a new report from CBRE provided exclusively to Mortgage Observer shows.” (Commercial Observer)
  7. Real Estate Investors Evaluate the Lay of the Legal Pot Land for Possible REIT Launch in 2015 “’A marijuana-related REIT will come together as more real estate experts enter the playing field,’ Scott Greiper, CEO with Viridian Capital & Research in Manhattan.” (MainSt.com)
  8. Papa Murphy’s CEO May Triple Number of U.S. Locations to 4,500 “Papa Murphy's  (FRSH) is looking homeward for growth before it ventures abroad, CEO Ken Calwell said, and could potentially add 4,500 stores in the U.S. alone. The Vancouver-based "take and bake" pizza chain is planning to expand in its current markets between California and Michigan before looking at some of its other location in the U.S. and overseas.” (The Street)
  9. Who Makes Millions in a Garage Sale? Sam Zell “A fund led by Chicago real estate billionaire Sam Zell, whose colorful nickname describes his knack for buying distressed assets at low prices, sold the 366-space garage at 33 W. Ontario St. for $16.9 million to Jones Lang LaSalle Income Property Trust, Cook County property records show.” (Crain’s Chicago Business)
  10. Dunkin’ Donuts to Incite Foreign Fast-Food Fight in China “Starbucks would need a new strategy if Dunkin' provides upbeat, comfortable chatting venues at lower coffee and pastry prices. Dunkin' is already expected to be going for a more upscale image this time after a less successful China joint venture in 2013.” (The Street)
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