10 Must Reads for the CRE Industry Today (September 24, 2015)

10 Must Reads for the CRE Industry Today (September 24, 2015)

 

  1. 5 Dallas Real Estate Dynasties “Big D's most notable real estate family dynasties include a former presidential candidate, the 15th wealthiest family in the nation and "God's Realtor." Here's just a taste of the legacies they leave behind.” (Bisnow)
  2. Chicago Real Estate Firm Strikes Again in Seattle with $144M Buy “A Chicago company on Monday doubled down on Seattle's apartment market by paying $144 million for a new 27-story building called Dimension in the Belltown neighborhood.” (Puget Sound Business Journal)
  3. Multifamily Permits Fall Back “For the second consecutive month, multifamily permits came in below 500,000 units. That's after June permits hit a seasonally adjusted, annual rate of 1.343 million, which the highest level for the nation since July 2007.” (Multifamily Executive)
  4. Helmut Jahn Designing 86-Story South Loop Residential Tower “Architect Helmut Jahn is designing an 86-story South Loop residential tower that would resemble a stack of four tall boxes, with the widest at the top.” (Crain’s Chicago Business)
  5. What Gap Could Do to Make Itself Fashionable Again “Since late March, investors have shown their displeasure with Gap's offerings, slashing the stock from its 52-week high of $43.90 per share to $31.70 at Tuesday's market close-a nearly 27.8% decline.” (The Street)
  6. Sometimes Bad News Is Good News for Investors “In a seemingly alarming trend that too often dominates business headlines, another company cheated. This time it's Volkswagen AG which has left more people shaking their heads wondering why. The effort the company put forth installing state-of-the-art software to allow cars to pass emission tests leaves the average person to wonder why the company couldn't just use that effort to do things the right way to begin with.” (Seeking Alpha)
  7. Book Sales Hang on as e-Books Wither “E-book sales have fallen dramatically in 2015, suggesting that the worst could be over for bookstores.” (Fortune)
  8. New York JV Reaps Rewards “Rewind to 2012, when joint venture partners New York Life Real Estate Investors, Prudential Real Estate Investors and Normandy Real Estate Partners shelled out $360 million on the acquisition of the Midtown Manhattan office tower at 575 Lexington Ave. Now, fast forward to today, and the partners have just sold the 745,000-square-foot property to Angelo, Gordon & Co. L.P. for $510 million.” (Commercial Property Executive)
  9. 10 Most Outrageously Expensive Cities on Earth “The Big Apple is the most expensive city in the world, when you look at the prices of commonly consumed goods and services, as well as rents in the area, according to the Prices and Earnings 2015 report, released by UBS on Tuesday. While prices are high in New York, it’s the rent that landed New York in the No. 1 spot — with a furnished two-room apartment costing an average of $4,620 (for the cost of one month’s rent in New York, you could rent an apartment for 17 months in Sofia, Bulgaria).” (MarketWatch)
  10. Go Midwest, Young Techie: Silicon Valley Too Pricey for Startups “Michael Hollman says he has a job offer from Amazon.com and just interviewed at Google. But he might ditch them both for Lincoln, Nebraska.” (Bloomberg)
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