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

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


  1. How Private Investment is Changing World Real Estate “In this survey by Savills and WealthBriefing, wealth managers were questioned on the issue. Over 90 per cent said that their clients were looking to either increase or maintain their real estate allocations. This was the case across a broad variety of real estate asset types, such as office buildings and residential, and across global regions.” (ValueWalk)
  2. Middle East Owners of FRHI Hotels Looking to Sell Luxury Hotel Operator “The Middle East owners of FRHI Hotels & Resorts are looking to sell the luxury hotel operator, whose high-end brands include Fairmont, Raffles and Swissotel, according to people familiar with the matter. FRHI operates 116 hotels with nearly 44,000 rooms in 34 countries. The list includes some historic luxury properties like New York’s Plaza Hotel, the Peace Hotel in Shanghai and the Savoy in London.” (The Wall Street Journal)
  3. These Two Supermarket Chains Just Entered a $29 Billion Marriage “Dutch grocery chain Royal Ahold and Belgian grocery chain Delhaize have agreed to a merger. Based on the companies’ stock prices from closing time Tuesday, the combined corporation would have a market capitalization of $29.1 billion.” (Fortune)
  4. Ivanhoe Cambridge: The Quiet Giant “No other pension fund manager has spent nearly as much. And yet, little is known about the firm behind these deals. While Related’s Stephen Ross, Extell’s Gary Barnett or Witkoff Group’s Steve Witkoff are local celebrities, regularly donning the covers of business publications, few here could point out Ivanhoe Cambridge’s CEO Daniel Fournier in a crowd. In fact, few even know what kind of company it is or where it gets its money.” (The Real Deal)
  5. National Vacancy Declines in 1Q as New Completions Fall “After it appeared the national apartment vacancy rate was beginning to rise late last year, the market pulled a bit of a surprise in the first quarter—the vacancy rate declined by 10 basis points from the fourth quarter of 2014, to 4.1%.” (Multifamily Executive)
  6. Zell REIT Selling Illinois Center for $390 Million “Sam Zell's office company has struck a $390 million deal to sell the two-tower Illinois Center complex, a big step in his plan to sell off up to $3 billion worth of its properties. New York-based AmTrust Realty agreed to buy the connected 32-story towers at 111 E. Wacker Drive and 233 N. Michigan Ave. for almost $390 million.” (Crain’s Chicago Business)
  7. Phase Two of the DTZ Acquisition of Cushman & Wakefield “Insiders tell Commercial Observer, the combined firms’ new setup—with CBRE alum Brett White helming the integrated company, which will keep the Cushman name and bring the Massey Knakal Realty Services, C&W, DTZ and Cassidy Turley professionals under one flag—was a very obvious call.” (Commercial Observer)
  8. Today’s Top Performers in Real Estate “The Real Estate industry currently sits down 0.3% versus the S&P 500, which is down 0.1%. Top gainers within the industry include Hilltop Holdings (HTH), up 1.7%, and Realogy Holdings ( RLGY), up 0.9%. On the negative front, top decliners within the industry include Gazit-Globe (GZT), down 4.3%, BioMed Realty ( BMR), down 1.6%, Howard Hughes ( HHC), down 1.5%, Lamar Advertising ( LAMR), down 1.4% and Brookfield Property Partners ( BPY), down 1.3%.” (The Street)
  9. Startups Seeking Cheap Lower Manhattan Space Will Have a New Option “Cowork|rs, one of a crop of companies that rent communal offices tailored to individuals and startups, is opening its second space in lower Manhattan. Two months after signing a lease for nearly 30,000 square feet at 55 Broadway, Cowork|rs has signed a lease for about 40,000 square feet at 60 Broad St.” (Crain’s New York Business)
  10. 10 of the Biggest Brokers to Switch Firms amid Industry Consolidation “In Part 2 of Bisnow's look at the wave of consolidation in the commercial real estate industry, we take a look at the suits. With all the M&A action in the industry, some of the country's top power brokers have changed hats. Here are some of the biggest moves prompted by the biggest buys.” (Bisnow)
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