10 Must Reads For the CRE Industry Today (November 12, 2015)

10 Must Reads For the CRE Industry Today (November 12, 2015)


  1. Warburg Pincus Said to Explore Options for RegionalCare “Warburg Pincus, one of the world’s largest private-equity firms, is working with UBS Group AG to explore strategic options for RegionalCare Hospital Partners, people with knowledge of the matter said. The bank is examining alternatives including a sale or refinancing that could value the health-care company at about $800 million, said the people, who asked not to be identified because the information is private.” (Bloomberg)
  2. Are Real Estate Cap Rates About to Rise Soon? “Over the past couple of years, much has been written on REITs and interest rates and specifically on the sensitivity (or lack of) of REITs price performance to rising rates. The price performance of REITs in a rising rate environment is a function of numerous variables, many of which are completely unrelated to REITs or to real estate in general - broad market sentiment, global macro changes, just to name a few. It's thus difficult to isolate the effect of rising rates on REITs, through price movements.” (Seeking Alpha)
  3. Real Estate and Green Cards: EB-5 Debate Heats Up in Washington “Congressional debate is heating up on the EB-5 immigration program, which allows foreigners who invest in job-creating projects to get green cards. In recent days, real estate industry executives received copies of draft legislation on a renewal of a key piece of the program, a key piece of which expires on Dec 11. The draft – supported by Sens. Charles Grassley and Patrick Leahy, would tack another four years onto the program, which grants 10,000 visas a year to immigrant investors and their families.” (Wall Street Journal)
  4. Investors Fear Macy’s Is a Red Flag for Other Retailers “Retailer stocks took a broad beating Wednesday, after disappointing results from Macy’s Inc. fueled growing fears that the sector suffered through some tough times in the latest quarter. The SPDR S&P Retail exchange-traded fund dropped 2.1% in afternoon trade, as 90 of its 102 components traded lower. The ETF has lost 7.7% over the past three months, while the S&P 500 index has eased 0.2%.” (MarketWatch)
  5. DeBlasio Holds Secret Meeting to Boost Minority Real Estate Developers “Mayor de Blasio had a secret meeting Tuesday with minority real-estate developers and told them he’s considering rewriting city contracts to give an advantage to projects that use minority firms. De Blasio also discussed setting aside six development projects, valued at $200 million, for minority developers, sources said.” (New York Post)
  6. Oil Industry Downturn Could Spur New Real Estate Opportunities for TAYO “Slumping oil prices haven’t been good news for many Texas energy businesses. But as activity and exploration slows in the Permian Basin region, real estate investment company Taylor Consulting, Inc. plans to aggressively pursue the undervalued assets energy companies are leaving behind. Indeed, TAYO’s investments in West Texas through its real estate division, Third Avenue Development, have paid off handsomely for the company in 2015.” (MarketWatch)
  7. Seven From Family-Run Real Estate Firm Die in Ohio Jet Crash “Seven employees of a Florida real estate company were among the nine people killed Tuesday when a 10-seat business jet crashed into an apartment building in Akron, Ohio. Pebb Enterprises said on its website that two principals and five other employees of the firm died in the crash of the twin-engine jet. It didn’t identify them, but the Associated Press, citing family members, said one was Diane Smoot, 50.” (Bloomberg)
  8. Behind the Gloss: The Lipstick Building by the Numbers “Apart from its red granite and steel facade—and, of course, its stint of housing the offices of Bernard Madoff and his $65 billion Ponzi scheme—the Lipstick Building stands out among other Manhattan office towers because of its complex ownership structure. The 34-story building at 885 Third Avenue, which sits between East 53rd and East 54th Streets, is back in the headlines because SL Green Realty Corp. signed a contract to sell its ground lease at the property for $453 million to Ceruzzi Properties and Shanghai Municipal Investment USA.” (Commercial Observer)
  9. Deutsche AWM Acquires Dallas Industrial Portfolio “A massive industrial complex formerly known as Crow Holdings Industrial Portfolio in Dallas was recently acquired by Deutsche Asset & Wealth Management’s (Deutsche AWM) Alternatives and Real Assets (ARA) on behalf of an overseas institutional investor. The Dallas Industrial portfolio is comprised of four buildings located in two top Dallas-Fort Worth submarkets.” (Commercial Property Executive)
  10. USC Launches Undergrad CRE Degree “The University of Southern Californiahas launched a bachelor’s degree program in real estate development, becoming one of a handful of schools across the country to recognize the need for interdisciplinary education in the field. The move comes in response to major growth in the industry, which is now largely recognized as an investment class in league with stocks and bonds.” (GlobeSt.)
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