- Fed Minutes: Don't Expect a Summer Interest Rate Hike “2015 was supposed to be the year that the Federal Reserve finally began to normalize its interest rate policy, after eight years of near-zero rates.” (Fortune)
- West Loop Office Owners Try Divide-and-Conquer Strategy “After bids fell short of their target sale price, owners of a big West Loop office tower are trying a new approach: splitting it in two. A venture of Florida-based investor Joseph Mizrachi and New York-based David Werner sold the land beneath 300 S. Riverside Plaza for $220 million. Now they’ll try again to sell the nearly 1.1 million-square-foot office building on it.” (Crain’s Chicago Business)
- New Forecast: Three More Years of Commercial Real Estate Boom “The commercial real estate sector can expect three more years of solid growth – one of the longest periods of industry expansion according to a new forecast.” (Dallas News)
- Manhattan Office Leasing Declines as Tenants Priced Out “Manhattan office leasing extended a decline in the first quarter, falling to the lowest level in a year and a half, as rising rents and a lack of affordable options caused some tenants to hold back on new agreements.” (Bloomberg)
- Commercial Property Lending Reached $400 Billion in 2014: MBA “It’s getting easier to get a loan in the commercial real estate world. Loans made for office buildings, hotels, malls and other U.S. commercial property grew to $400 billion in 2014 from $358 billion the prior year, the third-highest mark on record, according to a survey by the Mortgage Bankers Association.” (Wall Street Journal)
- Office Vacancies in New Jersey's High-End Buildings Remain High in Q1 “According to JLL, after slipping to 24.9 percent at year-end 2014, the overall office vacancy rate for Northern and Central New Jersey ticked slightly higher to 25.3 percent in the first quarter of 2015. This is 10 percent above the national office vacancy rate of 15.8 percent in the first quarter of 2015 as reported by the National Association of Realtors last week.” (World Property Journal)
- Ventas to Spin Off Nursing Facilities Into New REIT “Ventas Inc. announced Monday that it would spin off 355 skilled nursing facilities and outpatient recovery centers into a new real-estate investment trust, the latest sign of the growing interest in highly specialized medical properties, which carry more risk but have the potential for high returns.” (Wall Street Journal)
- Greystone Closes Sale on Seniors Housing Property in Dallas Area “Aspens at Twin Creeks, a 180-unit age-restricted residential property in Allen, Texas., has come under new ownership with the assistance of Greystone Real Estate Advisors. Acting on behalf of owner Cadence Capital Partners, Greystone sold the suburban Dallas property to Kayne Anderson Real Estate Advisors.” (Commercial Property Executive)
- Seattle’s ‘Twin Toasters’ Pop Up for CBRE Global Investors “Two office buildings known as the “Twin Toasters” in Seattle have changed hands with a fund sponsored by CBRE Global Investors acquiring Metropolitan Park East and West in the South Lake Union submarket for a reported $273 million.” (Commercial Property Executive)
- Number of Americans Looking to Buy Homes Hits Five-Year Low: Fannie Mae “Homeownership may no longer be a central tenet of the American Dream. The number of Americans who would buy a home if they were to move hit a new five-year low, according to Fannie Mae.” (The Real Deal)
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