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10 Must Reads for the CRE Industry Today (January 29, 2018)

Singapore became the biggest Asian investor in U.S. commercial property last year over China, according to Bloomberg. A federal judge in Maryland has ruled that Jared Kushner’s family real estate company must reveal the identities of its partners in apartment complexes in Baltimore, ProPublica reports. These are among today’s must reads from around the commercial real estate industry.

  1. Singapore Overtakes China as Largest Asian Investor in U.S. Property “Singapore ousted China to become the biggest Asian investor in U.S. commercial property last year. It was the first time since 2012 that the city outspent China, according to data from Real Capital Analytics and Cushman & Wakefield Inc.” (Bloomberg)
  2. Judge: Kushner Company Must Reveal Identities of Real Estate Partners “A federal judge in Maryland ruled Friday that Jared Kushner’s family real estate company could not keep secret the identities of its partners in Baltimore-area apartment complexes that are the subject of a class-action lawsuit by tenants.” (ProPublica)
  3. Exclusive: Data Show Trump’s DC Hotel Was Pricier and Emptier Than Peers in 2017 “New information obtained exclusively by CNN offers a rare glimpse into the business operations of what quickly became one of the President's most highly scrutinized businesses and a de facto clubhouse for his administration's officials and supporters.” (CNN)
  4. Casey’s Explores Buying Kroger Convenience Stores Valued at $2 Billion Amid Pressure from ActivistsCasey's General Stores, under pressure from activist investor JCP Investment Management, has submitted an initial bid for Kroger's roughly $2 billion convenience-store business, sources familiar with the situation tell CNBC.” (CNBC)
  5. By Shrinking, Can Sam’s Club Keep Up with Costco? “Sam’s Club hopes fewer stores can help the warehouse retailer attract more-affluent shoppers.” (Wall Street Journal, subscription required)
  6. 10 Things to Consider Before Investing in Commercial Real Estate “The commercial side of real estate can be an appealing proposition for any investor. It offers you the ability to dip into a new pool of clients and grow your business interests. But, the commercial side of real estate is also a different beast that requires some additional considerations versus the residential side of the business.” (Forbes)
  7. The NYC-Newark Slugfest in the Battle for Amazon’s $5 Billion Headquarters “Like the millennials it wants to attract to work at its new headquarters, 23-year-old Amazon faces a tough choice: It can move into the city, with all of its vibrancy, cachet and access. Or it can move to a suburb, with all of the city's attributes just a short drive or train ride away and have a little more money to take advantage of it all. As the competition for Amazon's HQ2 project moves to a second phase, New York and New Jersey are battling tooth-and-nail to sway the company's decision.” (CNBC)
  8. Part 1: Commercial Lease Gets & Gotchas Founders Should Know About “Sitting at the closing table for a house is one of the most stress-inducing processes people experience. That’s what I thought until I signed a commercial lease. There are more zeros involved, and you can’t even live there.” (Forbes)
  9. Consumer Spending Hits 6-Year High – as Americans Cut Savings to 12-year LowThe numbers: Consumer spending climbed 0.4% in December, capping off the biggest increase in household buying since 2011. Economists polled by MarketWatch had forecast a 0.5% increase.” (MarketWatch)
  10. Behind the Complicated Financing of One Vanderbilt “In the first quarter of 2018, Robert Schiffer, a managing director at SL Green Realty, will do something he’s never done before: fly to China to raise EB-5 financing — more than $200 million, to be exact.” (The Real Deal)
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