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10 Must Reads for the CRE Industry Today (May 28, 2015)

10 Must Reads for the CRE Industry Today (May 28, 2015)


  1. Chicago Firm Seeks Investors in Detroit Housing “A Chicago-based real estate investment management company with ties to Detroit is seeking investors for a $200 million fund to invest in multifamily real estate in downtown Detroit.” (Crain’s Detroit Business)  
  2. Business Lending by U.S. Banks on the Rise “U.S. banks are lending to businesses at such a rapid clip that those loans are on pace to overtake residential mortgages for the first time since the 1980s.” (Wall Street Journal)
  3. Preiss Expands Texas Footprint “The Preiss Co. has expanded its student housing holdings in Texas with the acquisition of the 486-bed Outpost San Marcos serving students at Texas State University.” (Commercial Property Executive)
  4. $55-Million Industrial Park Is Being Built in El Monte “Los Angeles real estate investment and development firm the Magellan Group has begun construction on a large-scale industrial park in El Monte.” (Los Angeles Times)
  5. City Approves 1 Vanderbilt After Developer Agrees to Make Upgrades to Grand Central “City officials cleared the way on Wednesday for construction of a new, 65-story Manhattan skyscraper after the developer made an unusual tradeoff: a promise to make sweeping upgrades to nearby Grand Central Terminal that would allow more rush-hour trains on the subway's busiest lines.” (Crain’s New York Business)
  6. Owners of Chicago's Shuttered Historic Movie Palaces Hope for Revival “At one time, the Central Park Theatre and the New Regal Theater weren't just movie palaces — they were the entertainment and cultural centers of their respective communities on the West and South sides of Chicago.” (Chicago Tribune)
  7. Meet the Real Estate Experts Helping Reshape Retail, Booming Or Bankrupt “On a freezing, snow-covered Friday in early March, Andy Graiser and Emilio Amendola are standing in the parking lot of a suburban Long Island strip mall, ruminating on the evidence of drastic changes to the retail sector over the last 25 years.” (Forbes)
  8. Michael Kors' Weak Sales Suggest It's Falling Out of Fashion “When you’re a red-hot aspirational luxury brand, it’s tempting to capitalize on the moment with aggressive expansion plans and a broader assortment of products to become a so-called “lifestyle” brand.” (Fortune)
  9. Saks’ Off 5th to Open First Downtown Store, in San Francisco “Saks Fifth Avenue Off 5th will open its first metro downtown store, on Market Street in downtown San Francisco. The new 40,500-sq.-ft. store will celebrate its grand opening on May 28.” (Chain Store Age)
  10. Och-Ziff Gets $900 Million From New Jersey for Credit, Energy “New Jersey’s pension system plans to boost its investment with Och-Ziff Capital Management Group LLC by as much as $900 million to more than $2 billion.” (Bloomberg)
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