10 Must Reads for the CRE Industry Today (October 9, 2015)

10 Must Reads for the CRE Industry Today (October 9, 2015)

 

  1. Uniqlo’s Big American Mistake? Betting on Suburban Malls “Uniqlo, the hip Japanese clothing chain known for trendy yet inexpensive down coats, jeans, and t-shirts with heating technology, will dramatically scale back the pace of its U.S. store openings after sales stateside fell short of forecasts and its loss widened last fiscal year, a problem the company partly blamed on opening 17 U.S. stores last year.” (Fortune)
  2. A White House Flip-Flop on Fannie and Freddie? Investors Think So “Investors in Fannie Mae and Freddie Mac are pumped over a controversial new report that claims the Obama administration has changed its stance and now wants to revive the beleaguered mortgage-financing giants. Such a move would be a boon to shareholders, who have bid the stocks up by almost 9 percent since the report’s release Tuesday. On the other hand, investors stand to lose their investment should the pair be wound down — the path previously endorsed by the White House.” (New York Post)
  3. Atlantic City May Finally Be Getting its Get Out of Jail Free Card “While bankruptcies and foreclosures have characterized the city for the last decade, a turnaround effort is already underway. Several dozen journalists gathered under a massive, outdoor archway in mid-September, cameras and notepads in hand, documenting the ribbon cutting ceremony of Caesars Entertainment Corporation’s Harrah’s Waterfront Conference Center—a 100,000-square-foot facility tucked behind the entertainment company’s existing hotel and casino.” (Commercial Observer)
  4. Seattle, In Midst of Tech Boom, Tries to Keep its Soul “While many cities would do almost anything for a deluge of high-tech jobs, others are grappling with the side effects that often accompany surging economies. A plan by Google to expand its presence in Boulder, Colo., with a new campus last year ignited a debate over home prices and traffic. Residents of Portland, Ore., are pointing fingers at people moving from the Bay Area, blaming them for soaring home prices.” (New York Times)
  5. 10 Key Lessons for Deal Makers to Follow “Since the inception of The Deals & Deal Makers Summit, ECHELON’s mission has been to develop the industry’s most intellectually rigorous event. For their 2015 event in Newport Beach, Calif., ECHELON carefully selected 20 speakers to purposefully go narrow and deep on the subject of deal making. Hare the 10 Key Takeaways gained by Summit attendees.” (Wealthmanagement.com)
  6. Saks to Debut New Store Concept “Saks Fifth Avenue is expanding further into the specialty store business. The retailer announced plans to open a 21,000-sq.-ft. store devoted to jewelry and contemporary women’s ready-to-wear in Greenwich, Connecticut. Earlier this year, Saks announced plans to open a standalone shoe store concept, 10022-Shoe, also in Greenwich. Saks already operates a women’s-only store in Greenwich, which it opened in 1997.” (Chain Store Age)
  7. New York REIT Makes Strategic Move With $325M Refi Package “New York REIT Inc. has closed on a $325 million financing for 1440 Broadway, a 25-story, 755,679-square-foot office building near Times Square, the publicly traded REIT, which is the successor to American Realty Capital’s New York Recovery REIT, announced Monday. The building was completed in 1925 and underwent a renovation in 2001.” (Commercial Property Executive)
  8. The Danger of Foreign Buyers Gobbling Up American Homes “At first glance, foreign investment may seem to be a welcome boost to the economy. But a very disturbing second thought comes to mind — rapid depletion of affordable housing for middle-class Americans. Notwithstanding its present economic woes, China produces legions of multi-millionaires who, almost as a rule, prefer to invest their money in residential properties outside of their country — mostly in the U.S., Canada and Australia.” (MarketWatch)
  9. $1.2B Later, Capital One Reflects on Role in MF Market “It has been two years since Capital One acquired the Bethesda, MD-based agency lender Beech Street Capital. Since that time, the lender’s commercial real estate business has generated over $1.2 billion in incremental business by doing exactly what they told us they would do when the deal was first announced: merge the two complementary product lines -- balance sheet and agency lending -- under one roof.” (GlobeSt.)
  10. Inside the Fitness Boutique That Sells $300 Yoga Pants “A former music executive who managed R&B icons TLC, Bandier started her retailer as a summer experiment in 2014, opening a seasonal boutique way out east in beachy Southampton. Bandier is thirsting for growth. Her new stores will open on Fifth Avenue and in luxury malls in Manhasset, N.Y., and Dallas. These high-end malls are packed with some of the swankiest brands around, such as Chanel, Prada, and Dior.” (Bloomberg)
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