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10 Must Reads for the CRE Industry Today (February 23, 2016)

10 Must Reads for the CRE Industry Today (February 23, 2016)


  1. Back from the Dead: 13 Retailers Get Another Shot “Following a cascade of retailers filing for bankruptcy or otherwise closing hundreds of stores, there's finally some good news. Over the past year, several of the companies that consumers said goodbye to have announced that they're polishing up their nameplates for a new act. Is your favorite brand of yesteryear making a comeback?” (CNBC)
  2. The U.S. States Where Recession is Already a Reality “Dale Oxley doesn’t need to hear about rising odds of a U.S. recession to dread the future. For the West Virginia homebuilder, the downturn has already arrived. As economists size up the chances of the first nationwide slump since 2009, pockets of the country are already contracting. Four states -- Alaska, North Dakota, West Virginia and Wyoming -- are in a recession, and three others are at risk of prolonged declines.” (Bloomberg)
  3. De Blasio’s Donors “Between December 2013 and the middle of 2015, the Campaign for One New York accepted a total of roughly $3.9 million in contributions from a wide range of entities, including real estate developers, unions and limited liability companies. Altogether, real estate players gave $1.1 million from Jan. 2014 to June 2015, according to the New York Times. TRD combed through the donor list to see who from the industry dished out the most.” (The Real Deal)
  4. Morgan Stanley Says U.S. Commercial Real Estate Price Growth Will Be Flat “Morgan Stanley analysts last week predicted U.S. commercial real estate prices would grow by a big fat zero percent in 2016, replacing a previous forecast of 5 percent growth over the course of the year. It was a surprising prediction for a market which has seen prices easily blow past their pre-financial crisis highs. Values for office buildings, hotels, shopping malls and the like have appreciated rapidly in recent years, thanks in part to insatiable investor demand for higher-yield commercial real estate assets.” (Bloomberg)
  5. 4 Federal Legislative Issues That Can Affect Commercial Real Estate “Legislation at the federal, state and municipal levels can adversely affect commercial real estate development as much as market fluctuation, supply and demand or labor. Sperry Van Ness Chicago Commercial SVP Wayne Caplan pinpoints four pieces of federal legislation that can result in a downturn in commercial real estate, if developers aren't vigilant.” (Bisnow)
  6. Best-Performing REIT Sectors for 2016 “Specialty REITs are a catchall sector that includes casinos, prisons, billboards, and farmland. The sector’s year-to-date return of –0.19 makes it one of the best-performing sectors during 2016. Many of the companies in this sector converted to the REIT format in recent years. New entrants to this category will become more limited after legislation that passed in December 2015 removed the tax advantages of spinning off corporate real estate into REITs.” (Urban Land)
  7. CNN Tower in Hollywood Changes Hands “The building that houses CNN’s west coast headquarters was recently acquired by Tishman Speyer in a deal worth around $127 million. The New York-based company acquired the office asset from Broadreach Capital Partners who worked Todd Tydlaska, Andrew Harper, Ryan Gallagher and Michael Leggett of HFF during the sale process. An HFF team consisting of Mark Wintner and Todd Sugimoto provided acquisition financing for the buyer. Located at 6430 Sunset Blvd., the 204,000-square foot office building is the home of CNN’s west coast HQ.” (Commercial Property Executive)
  8. Texas REIT subpoenaed after FBI raid “Management of distressed real estate investment trust United Development Funding IV — which a hedge fund claims is no more than a Ponzi scheme — has been subpoenaed to hand over company documents to a grand jury. The FBI last Thursday raided the suburban Dallas offices of UDF IV, a REIT that listed on the Nasdaq in 2014 and had $684 million in total assets.” (Investment News)
  9. Labor and Business Groups in L.A. are United against One Housing Measure—and Divided by Another “For months, labor unions and business groups have been working together to defeat a ballot proposal, known as the Neighborhood Integrity Initiative, that's been billed as a crackdown on real estate ‘overdevelopment.’ They have tried to present a unified front, arguing the proposal would bring housing production to a sudden halt.” (Los Angeles Times)
  10. Commercial Real Estate Opportunities in the Emerging Cannabis Industry “Real estate investors and developers are entering the market in a variety of ways. Those who want to get in and out without having even indirect association with marijuana enterprises are spec buying in areas where reform appears likely, just to flip the properties to owner-users once legal cannabis legislation is passed and licensing becomes available. Those looking for a greater return and with a greater appetite for risk offer built-to-suit cultivation, manufacturing or retail facilities for lease or sale.” (Commercial Property Executive)
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