- Fed Report Sees Optimism About Growth, But Growing Concerns About Tariffs “Businesses said they were still optimistic about the economy’s growth trajectory, but indicated concerns that tariffs would continue to push up costs, according to a Federal Reserve report released Wednesday.” (Wall Street Journal, subscription required)
- In Wake of Bomb Scare, Office Security Experts Deluged with Calls “The phone of Thomas Ruskin, president of CMP Protective and Investigative Group, was running hot today with calls from corporate clients wondering what to do when a suspicious package arrives. ‘The last 24 hours we've gotten much busier,’ said Ruskin, a former New York Police Department detective and crisis management official. ‘While I'm talking to you I got a call from another client.’” (Crain’s New York Business)
- Bill Ackman’s Pershing Square Buys Hilton Stake “Activist investor William Ackman’s Pershing Square Capital Management has acquired a 3.7 percent stake in hotel operator Hilton Worldwide Holdings, the fund said on Thursday. Hilton shares hit a more than one year low on Thursday on concerns over a slowdown in the hotel industry against the backdrop of international trade worries.” (Reuters)
- California Homeowners Are Home Shopping, in Dallas, Austin and Houston by the Thousands “Thousands of homeowners in San Francisco, Los Angeles and Chicago are headed out of town. And many of them are on the way to Atlanta, Phoenix and Dallas.” (The Dallas Morning News)
- Undeveloped Acreage with Spectacular Golden Gate Bridge Views Seeks $110 Million “In Marin County outside San Francisco, an undeveloped plot the size of Vatican City is up for grabs at $110 million. It’s known as Easton Point, and at 110 acres, the price for the hillside kingdom averages out to $1 million per acre.” (Los Angeles Times)
- Three Tips for Top-Tier Tenant Selection “It got me thinking about the mark of high-quality tenant selection criteria: It doesn’t just fill your apartments. It brings in tenants who stay longer and pay more each month. Choosing the right tenants to rent apartments to can have a significant impact on your bottom line.” (Forbes)
- Commercial Real Estate Conundrum: Investors Want Old Buildings But New Tech “Investors are looking for unique and authentic offices in older buildings with architectural character, some of the city's biggest developers said today. And that presents challenges when tenants also seek state-of-the-art tech and amenities that also must be incorporated into the aging structures.” (Crain’s New York Business)
- China’s Richest 2018: Real Estate Developers Take a Dip “As China's overall housing market cools amid a looming property tax and other concerns over economic growth, real estate developers took a splat following Chinese authorities' more stringent approval policies for urban relocation projects, a major driving force for lower-tier cities' growth.” (Forbes)
- MBA Forms Council of CRE Professionals “The Capital Council will serve as a forum for a broad and diverse group of commercial real estate capital providers, including life insurance companies, banks, securitized lenders, debt funds, and government-backed capital sources. Through the forum, participants can learn about market trends and conditions, with a focus on developing best practices and industry standards.” (American Banker)
- Remissary’s Adi Churgh Talks CRE Fintech Resilience and His New Platform “Fearing no foreign challenges, AdiChugh started his brokerage Maverick Capital Partners in 2011 with no direct real estate experience and no New York deal track record. Seven years later, his firm is in line to register over $5.5 billion in capital markets volume in 2018, he said. In September, Chugh, 37, launched Remissary, an online capital matchmaking platform that uses Maverick’s momentum and mirrors its ‘sniper shot’ approach to arranging financing.” (Commercial Observer)
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