10 Must Reads for the CRE Industry Today (March 5, 2015)

10 Must Reads for the CRE Industry Today (March 5, 2015)

  1. RBC Bankers Pitch Canada Strip Mall Bonds on Wall Street “Norm Camire, the head of Canadian commercial mortgage-backed securities at Royal Bank of Canada, is spending a lot more time with U.S. investors.” (Bloomberg)
  2. The Women of Forest City “MaryAnne Gilmartin was a 20-something in the Koch administration—still-starry eyed, green and learning the ropes of economic development—and she had a problem.” (Capital New York)
  3. Real Estate Executive Glenn Rufrano Leading the Pack to Become ARCP's New CEO "Veteran real estate executive Glenn Rufrano has emerged as the leading candidate to become chief executive of American Realty Capital Properties Inc., according to people familiat with the search process." (Wall Street Journal)
  4. America’s Most Overpriced Cities in 2015 “Thanks to its plethora of universities, arts organizations, top-notch health care institutions and strong start-up culture, Boston is a great place to build a career and life.” (Forbes)
  5. Wells Fargo Sets Defeasance Record "With the defeasance sector heating back up, as more borrowers look to replace their CMBS loans with Treasuries to lock in low interest rates, Wells Fargo set an eyebrow-raising record last year." (Commercial Observer)
  6. Coming Soon to Manufacturing Zones: Hotels “Not everyone is happy about the hotel boom: Industrial businesses say it has hit their neighborhoods with great force, making space scarcer and more expensive. A new study backs up that narrative, finding at least 115 hotels in M1-zoned areas, which are set aside for light manufacturing, and about 75 more on the way.”(Crain’s New York Business)
  7. Caesars Files Plan Shows No Creditor Recoveries: Bankruptcy “Caesars Entertainment Operating Co. filed a proposed reorganization plan Monday evening designed to implement a restructuring the casino owner negotiated with senior secured lenders before filing for bankruptcy in January.” (Bloomberg)
  8. Bain, Golden Gate Both Want Ann Inc. “At least two major suitors are vying for the hand of Ann Taylor parent company Ann Inc. According to Reuters, private equity firms Bain Capital and Golden Gate are both negotiating to purchase Ann Inc.” (Chain Store Age)
  9. Bloomie’s Heading to UWS With New Discount Concept “Say goodbye to Urban Outfitters on West 72nd Street and hello to Bloomingdale’s.” (Commercial Observer)
  10. Nordstrom Treads Carefully with Launch of Second Canadian Store "Upscale U.S. retailer Nordstrom Inc. has taken a cautious approach to its launch in Canada, even at times overstocking its single store in Calgary to ensure it doesn't disappoint customers." (The Globe and Mail)
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