10 Must Reads for the CRE Industry Today (June 25, 2015)

10 Must Reads for the CRE Industry Today (June 25, 2015)

 

  1. Ahold Deal Would Create One of the Largest U.S. Grocery Chains “The companies, while based in Europe, generate more than half their sales in the United States. The deal is expected to allow them to compete better with the likes of Walmart Stores, the world’s largest retailer, and with discount grocers such as the German companies Aldi and Lidl, and Costco in the United States.” (The New York Times)
  2. Lennar Chief’s 5Themes for Housing “One of the home-building industry’s leading chief executives on Wednesday outlined five themes for the housing market’s outlook, focusing on tight inventories, stringent mortgage standards and the preferences of millennials. Stuart Miller, CEO of Lennar Corp., the No. 2 U.S. builder by homes sold behind D.R. Horton Inc., detailed his five themes against the backdrop of Lennar’s strong earnings for its fiscal second quarter.” (The Wall Street Journal)
  3. Selling Off Real Estate Becomes Popular Option for Restaurants, Retailers “A big part of the appeal of a REIT spinoff is that real estate has seen record-high valuations in recent years. ‘Real estate prices in virtually all property types are at all-time highs,’ said Jim Sullivan, a managing director at Green Street Advisors, a real estate research and advisory firm in Newport Beach, Calif. ‘A lot of corporate America controls a lot of real estate, and there's a lot of motivation to figure out a way to extract value from those real estate holdings.’” (The Street)
  4. Illinois State Board Looks Beyond U.S. for Real Estate Investment “The Illinois State Board of Investment is looking to increase its real estate investment beyond the US. The US pension fund told IP Real Estate it was aiming to have 20% of its real estate portfolio abroad in the coming years.” (IP Real Estate)
  5. Opportunistic CRE Investing Still Going Strong Even as Levels of Distressed Real Estate Plunge “Private equity investors are continuing to raise millions from investors backing opportunistic real estate investment funds, despite the strong recovery in the sector bringing record prices and liquidity. In the last month, Fortress Investment Group LLC said it raised another $1 billion for its latest opportunistic Credit Real Estate fund, Fortress Real Estate Opportunities Fund (FROF) II.” (CoStar News)
  6. Miami Worldcenter Gains Momentum “Newgard Development Group has filed plans to bring a mixed-use project to Miami Worldcenter, the $2 billion, 27-acre mixed-use project set to rise in the heart of downtown Miami. Miami Worldcenter will include a 765,000-square-foot shopping mall (including Macy’s and Bloomingdales), approximately 1,000 apartment units and an expo center with an adjacent hotel.” (Commercial Property Executive)
  7. 5 Big Retailers That are Shrinking in the U.S. “Struggling retailer Gap isn't the only one slowly receding from malls across the country. TheStreet takes a look at five other major retailers that are significantly shrinking their store empires. The stores are ranked from the smallest decline from the retailer's peak to the largest.” (The Street)
  8. Who’s Using EB-5? “Investors have poured more than $3.7 billion into several dozen projects around New York City via the EB-5 program since 2009. And while the industry lacks a comprehensive database, The Real Deal zeroed in on some of the city’s largest and most notable projects to date, using data culled by researchers at New York University and referenced in a report by Professor Jeanne Calderon and attorney Gary Friedland.” (The Real Deal)
  9. Wealthier Baby Boomers Shun Homeownership “The U.S. home ownership rate is at the lowest level in 25 years and is widely expected to go even lower. That's not just the result of younger Americans struggling to make ends meet to save for a down payment on a home. It is increasingly the result of middle-aged, higher income Americans choosing to rent.” (CNBC)
  10. A Record Number of Americans Spend More Than 30% of Their Income on Rent “If you think the rent is too damn high, you’re right. A record number of people are struggling to write out their rent checks each month, according to a new study out Wednesday by The Joint Center for Housing Studies of Harvard University.” (Forbes)
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