10 Must Reads from the CRE Industry Today (June 9, 2015)

10 Must Reads from the CRE Industry Today (June 9, 2015)


  1. Greystone Bassuk Secures $200M for 525 West 52nd Street Development “The Greystone Bassuk Group closed a $200 million construction-to-permanent financing facility on behalf of Taconic Investment Partners and Mitsui Fudosan Americas for a $330 million development in Hell’s Kitchen, Commercial Observer has learned.” (Commercial Observer)
  2. GE to Sell Sponsor Finance to Canada Pension for $12 BillionGeneral Electric Co. agreed to sell the majority of its U.S. private-equity lending business to Canada Pension Plan Investment Board for about $12 billion, a significant step in its plan to pull back from financial operations and return to its manufacturing roots.” (Bloomberg)
  3. Cushman & Wakefield Is Looking for New Headquarters “Cushman & Wakefield, a subsidiary of DTZ, is exploring a deal for a new 300,000-square-foot global Manhattan headquarters, according to sources within the company.” (Crain’s New York Business)
  4. Online Jewelry Retailer Blue Nile Opens Its First Brick-and-Mortar Store “Another online merchant has ventured into the physical space. Diamond and fine jewelry retailer Blue Nile has opened its first freestanding store, at Roosevelt Field Mall, Garden City, N.Y.” (Chain Store Age)
  5. Malls That Rake In the Most Sales Per Square Foot “Despite their reputation as cookie-cutter properties that have proliferated throughout the suburbs, one thing is for sure: Not all malls are created equal.” (CNBC)
  6. The 7 Biggest Hotels in NYC’s Pipeline “A weakening euro, concerns over Airbnb and worries over a supply glut haven't done much to slow New York's hotel boom. Here are the seven biggest Manhattan hotels on the way, totaling over 3,000 rooms.” (Bisnow)
  7. Opinion: New Tech Money Is Destroying the Streets of San Francisco “The City by the Bay is famous for its steep hills, clanging cable cars, enveloping fog and stately Victorian-era homes.” (Market Watch)
  8. Ziel Feldman: It Was Worth Every PennyThe first thing you see when you walk into the swanky lobby of HFZ Capital Group’s Midtown office is a sad-looking rhinoceros suspended from a crane. Standing shoulder high on a coffee table in the middle of a swanky lobby, the crane is a sculpture by Italian artist Stefano Bombardieri. According to HFZ’s President Ziel Feldman, the art is a metaphor for harnessing power. And considering recent events, it seems it also has another message: This is a company that’s going after the big game.” (The Real Deal)
  9. Sears Looks to Real Estate to Offset Sales Slump “Sears’ first-quarter loss narrowed though sales continue to slide as the retailer prepares the roll-out of its real-estate investment trust this week to raise cash.” (Long Island Business News)
  10. Doubling Down on the Rebirth of the American Shopping Mall “For the first 100 years of its existence, the tiny town of Williston, North Dakota, was known for little more than ranching, farming and its proximity to where the Yellowstone and Missouri rivers meet. It was a true frontier town, with a small downtown district and the closest shopping mall some 125 miles away. Blink and you could miss it.” (CNBC)
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