10 Must Reads for the CRE Industry Today (March 6, 2018)

HCR Manorcare Inc., the second-largest nursing home operator in the country, filed for bankruptcy, Reuters reports. Construction experts are nervous about President Donald Trump’s tariffs on aluminum and steel, according to the Commercial Observer. These are among today’s must reads from around the commercial real estate industry.

  1. Construction Experts Nervous About Trump’s Steel and Aluminum Tariffs “Construction experts were troubled by President Donald Trump’s announcement last Thursday for a 25 percent tariff on steel and a 10 percent tax on aluminum imported to the United States. The policy will increase the costs on construction, which in New York City are already at dizzying heights, they said.” (Commercial Observer)
  2. HCR ManorCare Files for Bankruptcy with $7.1 Billion in Debt “The second-largest U.S. nursing home operator, HCR ManorCare Inc, filed for Chapter 11 protection late Sunday with $7.1 billion of debt as part of a pre-arranged deal to transfer ownership to its landlord Quality Care Properties Inc.” (Reuters)
  3. The Trump Organization Ordered Golf Course Markers with the Presidential Seal. That May Be Illegal. “The president’s company has ordered a set of presidential seal replicas for its gold course tee markers, raising more ethics questions.” (ProPublica)
  4. What Home Buyers (and Renters) Need to Know About Trump’s Steel Tariffs “A can of soda and a six-pack of beer may become more expensive thanks to the Trump administration’s proposed tariffs on steel and aluminum imports. And housing could cost more too.” (MarketWatch)
  5. Building a Family Business & Legacy: 3 Key Lessons from the Striblings “The name Stribling is synonymous with high-end New York City residential property. Over the course of nearly 40 years, Elizabeth F. Stribling has built a family legacy in the fast-growing, fast-paced industry of luxury Manhattan homes.” (Forbes)
  6. Walmart Pushes Its Meal-Kit Business with Plans to Roll Out to 2,000 Stores This Year “Walmart is now offering meal kits and simpler ‘one-step meals’ in more than 250 stores, the retail giant said Monday. It expects to roll out the service to 2,000 stores this year.” (CNBC)
  7. These Are the Top 5 Contenders for Amazon’s HQ2, According to Bank of America “The race is on for Amazon’s second headquarters project. According to Bank of America’s analytics, the top contenders are currently Atlanta, Boston, Denver, Colorado, Raleigh, and Washington, DC.” (Business Insider)
  8. Yield Curve Still Has Power to Predict Recessions, San Francisco Fed Paper Says “The yield curve, which plots yields across Treasury maturities, is still by far the most accurate predictor of recessions, according to new research released Monday by the San Francisco Federal Reserve.” (MarketWatch)
  9. Alex Rodriguez and Jennifer Lopez Boost Program That Teaches Inner City Kids About Real Estate “How do you get inner-city kids off the streets? Give them a vested interest in those streets and a stake in the property around them. That is the philosophy behind a new program that teaches teens financial literacy through investments in real estate.” (CNBC)
  10. Savanna Is Buying 5 Bryant Park from Blackstone for $640M “Blackstone Group is selling another one of its trophy office towers along Bryant Park.” (The Real Deal)
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