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

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

 

  1. Latest Fear for Property Investors: Zombie REITS “Some nontraded REITs grew so fast that they became difficult to unwind. Others overpaid for their properties and since the crash of the commercial property market have had trouble selling assets at a price that would make investors happy. Such funds became zombies.” (The Wall Street Journal)
  2. Standard General Said to Prevail in RadioShack Asset Bid “Standard General LP prevailed in a bid for the assets of bankrupt electronics retailer RadioShack Corp., according to people familiar with the situation. Standard General was RadioShack’s largest shareholder and provided a $535 million rescue-financing package to the Fort Worth, Texas-based retailer last year.” (Bloomberg)
  3. With $2.5 Billion in Investments Predicted for 2015, Real Estate Crowdfunding is Open for Business “A recent study from Massolution reports that crowdfunding investors injected $1 billion into the U.S. real estate market last year. By the end of 2015, that number should climb to $2.5 billion. Advances like $100 investments, debt participation and availability to foreigners are contributing to this projected surge.” (Forbes)
  4. SunCal Purchases LA Development Site for $130 Million “SunCal, a developer of master-planned communities, bought a downtown Los Angeles site the size of 11 football fields for $130 million as the aging industrial area transforms into an artsy neighborhood.” (Bloomberg)
  5. CMBS, Shadow Lending: Where the CRE Money Is “The commercial real estate capital markets are flush these days with CMBS, life insurance companies, the GSEs and banks all vying to underwrite the best deals. That doesn’t mean borrowers can write their own tickets or be complacent about the limits of the market.” (GlobeSt.)
  6. TD Bank Expands Commercial Real Estate Lending Team “TD Bank is expanding its commercial real estate lending effort in Florida, with some of the new team members to be based in South Florida. The bank's commercial real estate team focuses on developers, professional managers and owners of multi-family, office, retail and industrial properties.” (Sun Sentinel)
  7. Northern Manhattan Manufacturing Zone Eyed for Tech Community “Councilman Ydanis Rodriguez proposed Sunday to rezone a 100-acre "manufacturing area" in the northern Manhattan neighborhood of Inwood and transform it into a ‘technology community,’ complete with residential, commercial and retail development. He would put most of the housing above the Metropolitan Transportation Authority's 207th Street rail yard.” (Crain’s New York Business)
  8. American Tower, Cyrusone are Heading Higher, Says American Assets CEO “American Tower will enjoy huge benefits from its recent acquisition of Verizon's cellular towers going forward, said Burl East, CEO of American Assets Capital Advisers. East added that American Tower is seeing a surge in demand for digital bandwidth as mobile use increases. Similarly, he is bullish on shares of Cyrusone, saying the data center real estate investment trust has a chance to double its revenue.” (The Street)
  9. Dalian Wanda Group Chairman Says Looking at U.S. Entertainment Sector “Dalian Wanda Group, China's biggest commercial real estate conglomerate, is negotiating several acquisitions within the U.S. entertainment sector, Chairman Wang Jianlin said on Tuesday in a videotaped address to the SelectUSA summit.” (Reuters)
  10. Chinese Developer Finds Rough Road in Motor City “China has poured more than $40 billion into real estate across the world over the past seven years. But in a number of places, Chinese investors are running into snags peculiar to local markets. Detroit is home to one of the knottiest cases.” (The Wall Street Journal)
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