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

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


  1. 6 Biggest Challenges of Real Estate Crowdfunding “There are numerous challenges to crowdfunding typical of any new endeavor in which the full potential has yet to be reached. While crowdfunding has been used successfully when it comes to investing in all types of projects, there are still some obstacles when it comes to the real estate field.” (Inman)
  2. Japanese Lead Foreign Investors in Buying Hawaii Real Estate “Japanese residents were the top foreign buyers of Hawaii real estate in 2014 with 291 purchases for a total of $278 million, according to Title Guaranty. Mike Imanaka, senior vice president of data services for the Honolulu-based title services company, told PBN that the Japanese continue to value Hawaii real estate.” (Pacific Business News)
  3. Economist: Buy into Austin Retail Real Estate Now, but Sell Those Hotels “Looking for the right commercial real estate investment? The word is ‘retail.’ Ted Jones, chief economist for Stewart Title Guaranty Co., says the coming retail boom will blow the socks off any other real estate sector.” (Austin Business Journal)
  4. Motel 6 Leaves the Light On for $1.8B CMBS “In one of the largest securitizations backed by lodging properties since the CMBS market cratered amid the 2008 financial crisis, Blackstone Real Estate Partners VII is preparing to issue $1.8 billion of commercial mortgage pass-through certificates on a first-mortgage loan for some 500 Motel 6 properties.” (GlobeSt.)
  5. Steep Discount on Health Care REIT Secondary Offering “Health Care REIT Inc. (NYSE: HCN) has priced its underwritten public secondary offering of 17 million shares of its common stock at a price of $75.50 per share. While it projected that the gross proceeds from this secondary offering will be approximately $1.3 billion, some investors may be wondering if this real estate investment trust catering to health care properties may have priced the offering too low.” (24/7WallSt)
  6. Moinian Refinances Fifth Avenue Building in Deal Brokered by Meridian “The Moinian Group refinanced two adjacent office and retail buildings spanning a full block on Fifth Avenue with a $310 million CMBS loan from Morgan Stanley, Mortgage Observer has first learned. The 10-year deal, secured by Meridian Capital Group, carries a fixed interest rate under 4 percent, according to the broker.” (Commercial Observer)
  7. TravelCenters of America Urged to Sell Real Estate, Shops “TravelCenters of America LLC, the operator of truck stops along the U.S. interstate, is being urged by activist shareholder Russell Glass to sell and lease back its real estate and to separate its vehicle-repair business.” (Bloomberg)
  8. Target Has a New CEO. Will He Re-Energize the Retailer? “It may seem like a small step. But Cornell is the first Target CEO to be recruited from outside the company, and fittingly, he is already bringing a jolt of fresh energy to the country’s third-largest retailer (behind only Wal-Mart and Costco). ‘I got such great, genuine feedback from them,’ Cornell says of the Dallas visit. As he puts it, providing advance warning ensures stores are ‘going to be beautiful—but it’s not reality.’” (Fortune)
  9. Taking 1031s Off the Table Would Have an “Atomic Bomb” Effect: Market Players “Federal tax reform could have disastrous effects on the city’s real estate market if it shakes things up too much, industry players said this morning at a panel organized by the Academy for Continuing Education, a residential brokerage school.” (The Real Deal)
  10. Office Portion of 200 Lafayette is Up for Grabs “General Growth Properties will exercise the option that most real estate investors who bought well-placed real estate in recent years have. It will sell out at a major profit. The company has just put the office space at 200 Lafayette St., in NoHo, up for sale. With areas like Astor Place, which sits just north of the building now commanding some of the highest rents in midtown south, 200 Lafayette St., with 85,000 square feet of fully leased office space, could fetch upward of $120 million.” (Crain’s New York Business)
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