10 Must Reads for the CRE Industry Today (January 29, 2015)

10 Must Reads for the CRE Industry Today (January 29, 2015)

 

  1. Ivanhoe Cambridge Buys U.S. Multifamily Portfolio “Ivanhoé Cambridge has bought a portfolio of US multifamily properties with Veritas Investments. The Canadian institution said 11 multifamily properties in San Francisco, California were bought for $190m (€170m).” (IP Real Estate)
  2. Blackstone Profit Declines on Real Estate Investments “While Blackstone said economic net income from private equity nearly doubled, the firm reported declines in its real estate business, which is its biggest segment, and its credit business, which it said was hampered by a challenging market in the fourth quarter. It also reported a decline in its hedge fund business.” (The New York Times)
  3. Investors See Benefit in Using IRAs for Real Estate “Investing is always a risk. But unlike stocks and bonds which are intangible, people can see and walk on real estate. Both investors and non-investors have experienced what it’s like to buy or rent a single-family home, an apartment or a condominium sometime in their lives.” (U.S. News & World Report)
  4. H&M to Open 400 Stores and Launch Beauty Brand in 2015 “Swedish fast-fashion giant Hennes & Mauritz AB (H&M) is in full expansion mode. Along with reporting a 17% increase in fiscal 2014 profits, the company said it plans to open 400 stores in 2015, with most of the openings in the United States and China. It will also enter several new markets, including India and South Africa.” (Chain Store Age)
  5. Slippery Situation: Oil’s Potential Impact on Real Estate “Oversupply and weak demand have pushed crude oil down more than 55 percent from its recent peak of $107 a barrel in June 2014. For the regions and commercial assets that are fueled by the petroleum industry—including parts of Texas, Colorado and North Dakota—sustained low oil prices could lead to vacancies and reduced property incomes, several real estate observers cautioned.” (Commercial Observer)
  6. Struggling Malls to Fall Further Behind in 2015—Outlook “Consumers might be set to shop more in 2015, but that won’t be of much help to the hundreds of malls that are expected to disappear in the next decade.” (Fortune)
  7. Chinese Real Estate Firm Looks West—to California “China Oceanwide Holdings Group Co. and its chairman, Lu Zhiqiang, have poured hundreds of millions of dollars into U.S. West Coast commercial and residential real estate in the past two years, far from the company’s traditional turf of projects in cities such as Beijing and Wuhan.” (The Wall Street Journal)
  8. Blackstone, Former DDR CEO Join Forces “Already a significant player in the sector domestically via its Brixmor Properties Group, Blackstone said Wednesday its US retail real estate portfolio companies have entered into partnership with Raider Hill Advisors. Raider Hill was formed by Daniel Hurwitz, most recently CEO of DDR Corp., the nation’s largest power-center REIT.” (GlobeSt.)
  9. Chicago Landlord to Pay $102 Million for Apartments Off Mag Mile “A venture led by Mr. Buford has agreed to pay $102 million or more for the Chicagoan, a 221-unit building at Rush Street and Chicago Avenue, according to people familiar with the transaction. He's buying the 36-story tower from a partnership led by Draper & Kramer, the Chicago developer that built it in 1990.” (Crain’s Chicago Business)
  10. Auction.com Launches National Hospitality Division “Auction.com, L.L.C., has expanded its hospitality business with the formation of a new division focused specifically on the sale of hotel properties. Anthony Falor, managing director of Auction.com, will lead the new division.” (Commercial Property Executive)
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