10 Must Reads from the CRE Industry Today (August 4, 2015)

10 Must Reads from the CRE Industry Today (August 4, 2015)


  1. CalPERS’ Private Equity Investing Fees Are Expected to Be ‘Ginormous’ “CalPERS is finally about to reveal how much it really pays Wall Street for its most rarefied services — and taxpayers can expect a dose of sticker shock.” (Los Angeles Times)
  2.  Friends of Starbucks’ CEO Want Him to Run Against Hillary “Better latte than never for Schultz. Hillary Clinton is still the presumptive favorite to become the Democratic nominee for the U.S. presidency. But high-powered friends of Starbucks’ SBUX 0.47% CEO Howard Schultz are reportedly eager to anoint him as a challenger to Clinton.” (Fortune)
  3. San Francisco Fed Study Says Only a Crash Could Have Prevented Housing Bubble “If only the Federal Reserve had hiked rates in response to the boom in house prices, the U.S. could have avoided the housing bubble that caused the Great Recession. At least that’s the argument, but it’s one a new San Francisco Fed study dismisses in an article published Monday.” (Market Watch)
  4. CIT Group Completes $3.4-billion Purchase of OneWest BankIT Group Inc. said Monday it completed its $3.4-billion acquisition of Pasadena-based OneWest Bank. OneWest, with 70 retail branches in Southern California, will continue operating under that name as a unit of CIT's CIT Bank. CIT Bank also will be based at OneWest’s Pasadena headquarters.” (Los Angeles Times)
  5. New York Law Firm Wraps Up $1B in EB-5 DealsNew York-based law firm Rosenberg & Estis closed seven EB-5 construction mezzanine loans totaling $1 billion in the last year, Commercial Observer can first report.” (Commercial Observer)
  6. EY Goes for Platinum “EY (formerly Ernst & Young L.L.P.) becomes the first to commit to Lerner Enterprises’ speculative office building at 1775 Tysons Blvd. in Tysons, Va., and it’s a big commitment. The assurance, tax, transaction and advisory services company has signed a lease for 125,000 square feet at the 476,000-square-foot suburban Washington, D.C., project.” (Commercial Property Executive)
  7. Middle Eastern Investors to Spend $15B Annually on Global RE “Middle Eastern investors are projected to spend an average of $15 billion annually on the international property market over the next few years, according to a new report.” (The Real Deal)
  8. Exclusive: Apple Buys Huge San Jose Development SiteWhen Apple Inc. leased a 290,000-square-foot building in north San Jose last month, the big question was: What's next? Now we know—and Apple didn't disappoint.” (Silicon Valley Business Journal)
  9. Assisted-Living Development Turns to RAD “An assisted-living development in Vancouver, Wash., is getting a boost from the federal Rental Assistance Demonstration (RAD) program.” (Multifamily Executive)
  10. Posh Home-Furnishings Retailer is Getting Into the Hospitality Biz, With NYC Hotel “Restoration Hardware is getting into the lodging business. The upscale home-furnishings company is planning to open a boutique hotel and restaurant around the corner from its upcoming flagship store in the meatpacking district.” (Crain’s New York Business)
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