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10 Must Reads for the CRE Industry Today (February 26, 2015)

10 Must Reads for the CRE Industry Today (February 26, 2015)


  1. NorthStar Realty to Create European Real Estate Investment Trust "NorthStar Realty Finance Corp. plans to spin off its European property operation, which controls about $2 billion of assets, into a separate publicly traded real estate investment trust." (Bloomberg)
  2. HFF Fashions Nine-Digit Financing Deal for Five-State Hotel Portfolio "HFF recently orchestrated a $110 million financing package for a 2,566-room, five-state hotel portfolio on behalf of the ownership, a joint venture consisting of Varde Partners Inc., Interstate Hotels & Resorts and Waramaug Hospitality Management." (Commercial Property Executive)
  3. Forest City Enterprises Hopes to Unload More Real Estate on Road to REIT Conversion “Forest City Enterprises, Inc. still aims to sell or shed a partial stake in a handful of properties—including most of its Cleveland buildings—as the company readies to become a real estate investment trust.” (
  4. Sears Loss Narrows as Lampert's Asset Sales Shrink Retailer "Sears Holdings Corp., the retailer controlled by hedge fund manager Edward Lampert, posted a narrower fourth-quarter loss and said that its plan to sell and lease back some stores may raise more than $2 billion." (Bloomberg)
  5. Blackstone Paying $180M for Streets of Woodfield "The world's largest real estate private-equity firm is scooping up one of the biggest shopping centers in the northwest suburbs [of Chicago]." (Crain's Chicago Business)
  6. Boosting Returns with Commercial Real Estate “During the financial crisis, BigSur Wealth Management’s clients grew weary of trying to grow their wealth in a highly volatile and poorly performing market.” (Wall Street Journal)
  7. Stephen Winter: Related’s Secret Weapon For Leasing Hudson Yards “Stephen Winter is unabashedly, unequivocally, obsessed with real estate. As a vice president of commercial leasing at Related Companies, Mr. Winter has spent countless hours helping to fill all of the office space at Hudson Yards, the 17-million-square-foot, 28-acre mixed-used development emerging on the West Side of Manhattan. ” (Commercial Observer)
  8. Google Plans New Headquarters, and a City Fears Being Overrun “Apple is moving into Silicon Valley headquarters that look like a spaceship. Facebook is expanding its campus with a new building designed by Frank Gehry. Now it’s Google’s turn.” (New York Times)
  9. Macy's Needs to Be 'Extremely Careful' About This “Cheap is chic, and that isn't changing anytime soon. So after major department stores from Saks to Nordstrom—even the ultra high-end Neiman Marcus—have built out their square footage in the off-price sector, it makes sense that Macy's would eventually consider the idea.” (CNBC)
  10. Blackstone Considers a Lower-Return, Longer-Term Approach to Private Equity "Private equity firms have always offered a high-octane investing experience, attempting to multiply investors' capital over a period as long as a decade. But some of the largest firms are now considering taking a more sedate approach with some of their biggest clients in the latest sign that the industry is moving away from its former free-wheeling spirit." (New York Times)


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