10 Must Reads for the CRE Industry Today (March 31, 2015)

10 Must Reads for the CRE Industry Today (March 31, 2015)

 

  1. Blackstone Group Raises $15.8 Billion for Real Estate Fund: Source “Blackstone Group LP, the world's largest private equity investor in real estate, has almost finished raising its next flagship global real estate fund, amassing $15.8 billion, a person familiar with the matter said on Monday.” (Reuters)
  2. CBRE Buys Johnson Controls WorkPlace Unit for $1.475 Billion “CBRE Group Inc. agreed to buy the Global WorkPlace Solutions unit of Johnson Controls Inc. for $1.475 billion in cash to add facilities management to its corporate services business.” (Bloomberg)
  3. Joel Marcus of Alexandria Real Estate on the Biotech Boom “Biopharmaceutical venture capital investment climbed from $4.52 billion in 2013 to $5.29 billion in 2014, a 17% increase, according to Dow Jones VentureSource.” (Wall Street Journal)
  4. Economy Watch: Lackluster GDP, But RE Growth Better The third and final estimate for fourth quarter U.S. GDP came in at an annualized rate of 2.2 percent, according to the Bureau of Labor Statistics on Friday.” (Commercial Property Executive)
  5. Pershing Square Said Near Deal to Move to New NYC TowerBill Ackman’s Pershing Square Capital Management is close to a deal to move its headquarters to 250 W. 55th St., a new midtown Manhattan tower owned by Boston Properties Inc., said a person with knowledge of the matter.” (Bloomberg)
  6. Africa to Attract Significant Foreign Real Estate Investment “According to a new report by Knight Frank, an increased number of international investors are investigating opportunities in African real estate markets, attracted by the continent's startling economic and demographic growth prospects.” (World Property Journal)
  7. Against All the Odds, Malls Are Thriving Again “So much for the death of the U.S. mall. For all the media stories of reeling malls with weeds growing through parking lot pavement cracks, new data show that the closing of the weakest ones and an uptick in retail sales have the sector thriving again.” (Fortune)
  8. Airbnb Pushes Up Apartment Rents Slightly, Study Says “Airbnb, an online listing service for short-term accommodations, has long been criticized for driving up apartment rents from Venice Beach to Hell’s Kitchen.” (Wall Street Journal)
  9. 18 Brilliant Ideas for the Skyscraper of the Future “The winners of this year's eVolo Skyscraper Competition deal with some daunting themes, including overcrowding, global warming, and environmental disaster.” (Business Insider)
  10. Office Occupancy in U.S. at Record Highs; Owners Gaining Leverage “According to a new report by CBRE, owners of office space are continuing to gain negotiation leverage as steady economic growth has pushed office occupancy to all-time highs across the U.S.” (World Property Journal)
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