10 Must Reads for the CRE Industry Today (May 22, 2105)

10 Must Reads for the CRE Industry Today (May 22, 2105)


  1. Is the Party Over for Real Estate Investing? “Prepare for the REIT market to get ugly for awhile. This year is already shaping up to be a tough one. Check out the S&P Global REIT return chart. It's bounced all around and is currently flat -- 0% return. Many of the biggest REITs -- Simon Property Group (SPG), Ventas (VTR) and Health Care REIT (HCN) -- are flat to down for the year.” (CNN Money)
  2. Ontario Teacher’s Looking at Infrastructure, Real Estate “Ronald Mock, chief executive officer for Ontario Teachers' Pension Plan, talks about investment strategy. He speaks with Erik Schatzker on Bloomberg Television's ‘Bloomberg Markets.’” (Bloomberg)
  3. Bank of China Finances Beijing Insurance Company’s 717 Fifth Avenue Buy “Anbang Insurance Group, the Beijing-based insurance company that bought the Waldorf Astoria for $1.95 billion, closed on its purchase of 717 Fifth Avenue’s office space with a $260 million acquisition loan from Bank of China, Commercial Observer has learned.” (Commercial Observer)
  4. Dollar Tree Expects Divestitures ‘in Coming Days’ Dollar Tree said Thursday it expects to reach agreements with buyers ‘in the coming days’ to sell approximately 330 of the 8,000 Family Dollar stores it is acquiring.” (Supermarket News)
  5. China Inc. is Coming to America “Japan led a wave of investment into America in the 1980s. Now it's China's turn. A new report described as the first of its kind has broken down how much Chinese money is flowing into America, where it's going and its economic impact.” (Bloomberg)
  6. Google Tries Again with Headquarters Expansion Plan “Google might get to build more of its dream campus after all. Disappointed that most of its ambitious plan for a headquarters expansion was shot down by the Mountain View City Council earlier this month, Google is trying again to pitch one of the rejected buildings.” (San Jose Mercury News)
  7. Wanting for Real Estate, Apple May Undertake ‘Major Expansion’ in San Jose—Report “Apple is currently considering two sites in San Jose and could be looking for as much as 1.5 million square feet of space, according to the Silicon Valley Business Journal. Apple already has a modest presence in the city, with a relatively small office adjacent to the headquarters of Hewlett-Packard spinoff Agilent.” (Apple Insider)
  8. Bill Ackman and Georgetown Close on 787 11th Avenue, Plan for Rooftop Tennis “A partnership between The Georgetown Company and Bill Ackman has closed on 787 11th Avenue, Commercial Observer has learned, and plans to build a tennis court atop the building.” (Commercial Observer)
  9. Verizon’s Record-Breaking Deal “In the largest sale-leaseback deal in suburban New Jersey, Verizon has sold its 1.4 million-square-foot operations center in Basking Ridge, N.J., to Mesirow Realty Sale-Leaseback, Inc. for $650 million.” (Commercial Property Executive)
  10. What Could Gary Do? Analyzing Extell’s $4.4B Sellout at the Nordstrom Tower “Developer Gary Barnett has sky-high ambitions for the Nordstrom Tower: Whether or not his condo tower at 217 West 57th Street becomes the tallest building in New York City, Barnett could break records if he comes close to his projected $4.4 billion sellout.” (The Real Deal)
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