ten must reads vornado

10 Must Reads for the CRE Industry Today (May 2, 2018)

Vornado Realty Trust is considering spinning off a development company, The Real Deal reports. The Wall Street Journal takes a look at the private and public efforts that have emerged to help families stay in gentrifying neighborhoods. These are among today’s must reads from around the commercial real estate industry.

  1. As Cities Gentrify, Public and Private Efforts to Sprout to Help Families Stay “Similar efforts are popping up in New York, Philadelphia, Portland, Ore., and other high-cost cities as low-income residents increasingly struggle to remain in gentrifying neighborhoods. The measures, some public and some private, include offering down-payment assistance on homes to people with historic ties to neighborhoods, passing ordinances aimed at restricting gentrification and assisting nonprofits that are buying buildings where long-term tenants are at risk of eviction.” (Wall Street Journal, subscription required)
  2. Vornado Mulls Splitting Itself Up, Again “More than a year after spinning off its Washington, D.C., business, Vornado Realty Trust is once again toying with the idea of splitting itself into separate companies.” (The Real Deal)
  3. Construction Spending Stumbles in March “Construction expenditures were 1.7% lower in March compared with February, the Commerce Department said Tuesday. But a hefty increase to earlier spending estimates in prior months signals that outlays remain on a strong footing.” (MarketWatch)
  4. Mall Owners Fight Back Against ‘Scythe-Wielding Grim Reaper of Bankruptcy’ “S. mall owners are fighting back after a bumpy start to the year — with more than 90 million square feet of retail space already slated to go back on the market in 2018, according to data from CoStar Group. And it's still clear some landlords face a steeper uphill battle than others.” (CNBC)
  5. Billionaire Sam Zell Warns on Stocks and Real Estate: ‘Where’s the Beef?’ “Billionaire investor Sam Zell also is cautioning that stocks could face a reckoning. And he’s not sounding that bullish about real estate either – the sector where he made his fortune.” (MarketWatch)
  6. Chelsea Gallery Owners Get 1,650% Return on a Farmer Garage “Some big-time Chelsea art dealers are cashing in on the local real estate boom.” (Bloomberg)
  7. March Home Prices Make Their Biggest Jump in 4 Years—And Half of the Biggest Housing Markets Are Now Overvalued “Home prices have been rising steadily since the recession, but the gains are suddenly accelerating as spring demand heats up in an already highly lean and competitive market.” (CNBC)
  8. New Staubach Capital Investment Firm on the Prowl for Property Deals “A start up Dallas property investment firm has a familiar name. Staubach Capital plans to make plays in a variety of real estate projects in North Texas and beyond.” (The Dallas Morning News)
  9. Proptech Firm Reonomy Announces Partnerships with WeWork, C&W and Avison Young “Less than three months after raising $16 million in its most recent funding round, real estate technology startup Reonomy has announced new data partnerships with coworking giant WeWork and major brokerages Cushman & Wakefield and Avison Young.” (Commercial Observer)
  10. NAIOP Symposium: Millennials, Gold Coast Drive Change in NJ “Everything old is new again, at least according to some of the state’s top real estate movers and shakers.” (NJ Biz)
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