10 Must Reads for the CRE Industry Today (May 13, 2015)

10 Must Reads for the CRE Industry Today (May 13, 2015)

 

  1. Foreign Money Is Pouring Into U.S. Real Estate, and It’s Not Just Houses “Blockbuster real estate deals are back and breaking records as cash from around the globe pours into U.S. office buildings, apartment complexes and other investment properties.” (Bloomberg)
  2. Cushman/DTZ Merger’s Impact on CRE Industry “If there’s an emerging consensus about what the Cushman & Wakefield/DTZ merger, announced just yesterday, means for the CRE industry, it’s that although further consolidation is highly plausible, a place will nonetheless remain for savvy regional players.” (Commercial Property Executive)
  3. Raising the Roof Makes All the Difference in Warehouses “Eight feet of added ceiling height may not seem like a lot, but for warehouse builders, the extra clearance can be the difference between an empty building and one that attracts a tenant such as Walmart.com or Amazon.com.” (The Wall Street Journal)
  4. NYC Hotel Supply Will Peak in 2015: Report “The city’s hotel market had a brutal winter with decreases in occupancy, average daily room rates and revenue per room when compared with the same point last year, according to first-quarter data from STR, which tracks trends in the hotel industry.” (Commercial Observer)
  5. Boston’s Harbor Point on the Bay Secures $215M in Financing “The ownership of the expansive Harbor Point on the Bay housing development here has secured $215 million in multifamily senior debt. The refinancing deal was reported by KeyBank Real Estate Capital of Cleveland, which arranged the transaction for the 1,284-unit mixed affordable and market rate waterfront development via a loan placed through Freddie Mac.” (GlobeSt.)
  6. SLS Hotel in Las Vegas Gets Relief in Refinancing Deal “Stockbridge Capital Partners, a San Francisco-based investor that controls the property, reached an agreement this month with real estate lender Mesa West Capital for a $185 million loan, according to Securities and Exchange Commission filings. The new debt pays off $172.5 million of existing debt on the property, the filings said.” (The Wall Street Journal)
  7. Google Gobbles Up New York: Search Giant Poised to Anchor New Development on Pier 57 “The Internet giant has signed a letter of intent to take about 250,000 square feet at Pier 57 on the Hudson River, which is being redeveloped into a retail, office and park space by a partnership between the real estate investment firms RXR Realty and YoungWoo Associates. The footprint of the entire development is around 560,000 square feet.” (Crain’s New York Business)
  8. Real Estate ETF Momentum Has Shifted Overseas “The accommodative fiscal policy measures of central banks in Europe and Asia along with renewed strength in international equities has been a tailwind for VNQI. So far this year, this ETF has gained 9.00% and is currently trading just below its recent 52-week highs.” (Nasdaq)
  9. How 5 REITs Fared in the First Quarter “The REITs are out with their Q1 reports, offering snapshots of how they did in the first three months of the year. Here’s a look at the quarter that was for five major players.” (Bisnow)
  10. Should RCAP Split Up? “RCS Capital, which has a network of over 9,500 independent advisors, may need to split its retail advice business from its wholesale broker/dealer business, Citigroup analyst Bill Katz suggested last week.” (Wealthmanagement.com)
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