Skip navigation
10 Must Reads for the CRE Industry Today (January 22, 2015)

10 Must Reads for the CRE Industry Today (January 22, 2015)


  1. Icahn Acquisition of Trump Casinos Delayed Two Weeks: Bankruptcy “A hearing had been scheduled for last week to consider the approval of disclosure materials explaining a plan under which Icahn would take ownership of the casinos mostly in exchange for debt. The official unsecured creditors’ committee objected, saying it had been denied documents related to Icahn’s efforts to boost his Atlantic City casino holdings beyond the Tropicana Casino & Resort which he bought out of bankruptcy in 2010.” (Bloomberg)
  2. Top 10 Highest-Rent Shopping Strips in the World “In the case of New York, the surge in rent is the direct result of a 50% increase in the number of visitors to New York (expected to hit 56 million this year) since 2002, and the fact that retailers, luxury and otherwise, see having an address on one of the world’s hottest shopping strips as essential for its brand equity.” (Fortune)
  3. TruAmerica Buys $482 Million of Apartments in Tender-Love Plan “The 2,669-unit purchase from Newport Beach, California-based JH Real Estate Partners Inc., includes mostly second-tier apartments from the 1980s, the buyer said in a statement today. The 14 properties are concentrated in the Los Angeles, San Diego and Inland Empire regions.” (Bloomberg)
  4. REIT ETFs Keep Rocking Higher “Aided by a significant drop by 10-year Treasury yield, real estate investment trust (REIT) exchange traded funds were among 2014’s top performing sector ETFs and that trend is continuing this year as income investors continue the hunt for yield.” (ETF Trends)
  5. Housing Starts Rise to Highest Annual Tally in Seven Years “The pace of construction started on new U.S. homes rose last month to cap the strongest year in seven, according to government data released Wednesday.” (MarketWatch)
  6. As Central Banks Surprise, Fed May Have to Throw in the Towel “It seems almost ludicrous that the Fed will just stick to the plan it had in the fall, to start a rate-hike campaign in the middle of 2015. In order for the Fed to do so, the U.S. economy will not only have to be resilient to some of the overseas pain, and its own domestic energy sector, but the inflows into government bonds and the dollar will have to slow.” (MarketWatch)
  7. Review of Dallas Police-Fire Pension Confirms Overvaluation of Real Estate “Finally, after a year of wrangling and delay, an independent review of the $3.3 billion fund has confirmed what many suspected: accounting problems. The review, which focused on the fund’s real estate holdings in 2013, estimates that it overvalued some properties by tens of millions of dollars.” (Dallas Morning News)
  8. Super-Luxury Condo Glut Seen as Overblown “In recent weeks, year-end residential reports from a number of leading residential brokerages projected that 6,500 condos would be delivered to the market this year, most of them part of a wave of high-end luxury construction.” (Crain’s New York Business)
  9. 3 Big Reasons Staples Shouldn’t Merge with Office Depot “Activist investor Starboard Value is screaming from the hilltops that the time is right for Staples (SPLS - Get Report) to merge with smaller rival Office Depot (ODP - Get Report) to juice shareholder value. But the noted activist firm's demands may be shortsighted, and rooted in a desire to bank a quick profit from two dying businesses rather than delivering longer-term value.” (The Street)
  10. Sheldon Silver, New York Assembly Speaker, Faces Arrest on Corruption Charges “Details of the specific charges to be brought against Mr. Silver were unclear on Wednesday night, but one of the people with knowledge of the matter said they stemmed from payments that Mr. Silver received from a small law firm that specializes in seeking reductions of New York City real estate taxes.” (The New York Times)
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.