10 Must Reads for the CRE Industry Today (June 17, 2015)

10 Must Reads for the CRE Industry Today (June 17, 2015)

 

  1. Donald Trump Announces Candidacy for President “Billionaire real estate developer Donald Trump announced his candidacy for president on Tuesday. The field has grown increasingly crowded as candidates formally begin campaigning for the 2016 election.” (CNBC)
  2. AIG Seeks Chief Investment Officer to Manage $350 Billion “AIG has been expanding its allocation to commercial mortgage-backed securities and other structured debt amid a decline in fixed-income yields. The New York-based company had about $280 billion in bonds as of March 31, with more than half in corporate debt.” (Bloomberg)
  3. Investors Gird for Storage Wars “A new bidding war is breaking out in real estate. The targets of attention aren’t luxury properties or waterfront land, but something far less fashionable: self-storage warehouses. The self-storage sector differs from other types of commercial real estate because the market is fragmented, with 80% of the facilities owned by individuals or small investors.” (The Wall Street Journal)
  4. Real Estate Lobby Group Deposes Pro-Regulation Critic “Deutsche's Adam Smith was elected to a key position at the Commercial Real Estate Finance Council (CREFC), which styles itself as the main voice of the US$3.4bn CRE industry. But he was removed in May after completing just one year of a typical three-year stint after a series of disagreements, including over the controversial practice of ‘ratings shopping’ in the selling of CRE bonds.” (Reuters)
  5. Real Estate Firm Hopes to Facilitate Foreign Money into Local Developments “Greystone, a real estate lending and investment firm, has applied to become a so-called EB-5 regional center in New York and the Northeast, a designation that will allow the company to raise cash from foreigners seeking to secure permanent residency here. Developers use these centers to access EB-5 funds.” (Crain’s New York Business)
  6. U.S. Multifamily Loans Rose in First Quarter: Trade Group “The amount of U.S. mortgages on multifamily homes outstanding rose by $20.6 billion, or 2.1 percent, in the first quarter from the previous quarter on strong demand for apartments, Mortgage Bankers Association (MBA) data released on Tuesday showed.” (Reuters)
  7. Anna’s Linens Files for Chapter 11; Negotiating Sale “Anna's Linens Inc. announced it filed for  Chapter 11 bankruptcy court protection on June 14. The retailer said it is working to negotiate a sale to DW Partners, a multi-strategy fund manager with $6 billion in assets.” (Chain Store Age)
  8. U.S. Commercial Agents’ Annual Income Spike in 2014, Median Reaches $126,900 “According to the 2015 National Association of Realtors' Commercial Member Profile Report, commercial real estate markets are improving with Realtors specializing in commercial real estate reported an increase in annual gross income, the number of sales transactions and sales volume.” (World Property Journal)
  9. Bull Market Fuels Brokerage M&A “A wave of consolidation is sweeping the commercial real estate industry. And not every deal can be $2B. In Part 1 of Bisnow's investigative report, we tell you about the moves from coast-to-coast—the latest of which was leaked last night.” (Bisnow)
  10. Spitzer: EB-5 “Rubs Me the Wrong Way” “Speaking at Brooklyn commercial brokerage TerraCRG’s Only Brooklyn real estate summit at the Brooklyn Academy of Music, the former New York governor was critical of the federal program that offers a green card and potential citizenship to foreign investors in exchange for economic investment in the U.S. “ (The Real Deal)
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