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10 Must Reads for the CRE Industry Today (June 4, 2018)

HelloFresh is the latest meal kit to be sold in a grocery store, CNBC reports. New York City officials have created a plan to help Manhattan's historic Garment District, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. City Helps Manhattan's Garment District Hang on by a Thread "New York City officials have hammered out a plan to end a decades-old zoning regulation that protects manufacturing space in Manhattan's historic Garment District and replaces it with programs designed to keep some of the industry in Midtown." (Wall Street Journal, subscription required)
  2. HelloFresh Is Latest Meal Kit to Head to the Grocery StoreHelloFresh will soon sell its meal kits in Ahold Delhaize's Giant Food and Stop & Shop, the latest meal kit company to offer such a service.” (CNBC)
  3. Chinese, Koreans Among Biggest Real Estate Investors “The party keeps on going over at Go Go International Realty.” (New York Post)
  4. Home Values Are Skyrocketing at the Fastest Pace Since 2006 “Bad news for prospective home buyers: The rapid appreciation in home values shows no sign of letting up.” (MarketWatch)
  5. REIT, Sleep, Repeat “’REIT, Sleep, Repeat’, that’s my new mantra, and especially the stress-free command that stands for ‘sleeping well at night’.” (Forbes)
  6. Bon-Ton Scion’s Fix for Ailing Department Stores: Blow Up the Model “A scion of one of the last American department-store dynasties has a recipe for other ailing chains: stop being a department store.” (Wall Street Journal, subscription required)
  7. Blackstone Tops List of Global Real Estate Funds “Blackstone is reportedly the buyer of Kennedy Wilson’s $422 million multifamily portfolio.” (com)
  8. Wave Ciao: Fear of Italian EU Exit Helps US Bond Yields, CRE Interest Rates “After Brexit, is there an Italeave in the works? The recent rise of populist political movements and anti-European Union sentiment in Italy, coupled with its relative economic instability, sent global markets into a mini frenzy as investors flooded into safer investments, most notably U.S. 10-Year Treasury bonds and the U.S. dollar.” (Commercial Observer)
  9. Industry’s Low Debt Levels Could Create Safe Investment Opportunities During Economic Downturn “Despite concerns of rising debt levels throughout the global economy, which IMF warned about in its latest reports on the state of the world’s economy, research reveals the U.S. commercial real estate industry in particular is not overleveraged.” (BisNow)
  10. MCR Closes $300M Hospitality Fund “The seventh-largest hotel owner-operator in the U.S. added 11 hotels to its first fund and has an additional five hotel deals in its pipeline.” (Commercial Property Executive)
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