10 Must Reads for the CRE Industry Today (October 3, 2017)

Morgan Stanley is buying Mesa West Capital, a commercial real estate credit platform, according to Forbes. Following the mass shooting in Las Vegas, the casino giant behind Mandalay Bay lost almost $1 billion from its market capitalization, reports Fortune. These are among today’s must reads on the commercial real estate industry.

  1. The Owner of Mandalay Bay Lost Almost a Billion Dollars in Value After the Las Vegas Shooting “After police say 64-year-old Stephen Paddock killed at least 58 people and wounded more than 500 in the mass shooting at the Route 91 Harvest Festival at the Mandalay Bay in Las Vegas, the casino giant behind the hotel shed about $909 million from its market capitalization on Monday.” (Fortune)
  2. Morgan Stanley Is Buying Commercial Real Estate Credit Platform Mesa West. Is The Timing Right? “Morgan Stanley announced Friday it agreed to buy commercial real estate credit platform Mesa West Capital. Is this a smart move for Morgan Stanley or is the investment bank repeating an old mistake?” (Forbes)
  3. Las Vegas Shooter Was a Multi-Millionaire Real Estate Investor: Brother “A brother of Las Vegas shooter Stephen Craig Paddock says he was a multimillionaire who made much of his money investing in real estate.” (New York Post)
  4. Republican Tax-Cut Plan Would Add Pressure on Fed to Hike Interest Rates: Analysts “The Republican tax plan is still in its formative stages with key details unknown, but many economists believe the proposal will put added pressure on the Federal Reserve to raise short-term interest rates.” (MarketWatch)
  5. Homebuilder to Help Millennials Pay Student Loans and Get a House—But Is It a Good Idea? “A national homebuilder wants to help get millennials out of student loan debt and into their own homes.” (CNBC)
  6. Las Vegas Shooting Underscores Hotel Security Choices “Before a gunman killed more than 50 people in Las Vegas on Sunday, the police said he brought an arsenal of rifles past security and up to his 32nd-floor room at the Mandalay Bay hotel.” (The New York Times)
  7. Neiman Marcus Looks to Save Brick and Mortar With Touch ScreensNeiman Marcus Group Inc., facing a department-store slump and failed IPO, is looking for ways to solve some of the retail industry’s woes at a temporary shop in New York’s SoHo neighborhood.” (Bloomberg)
  8. Psst, Heard About That Deal? CompStak to Bring Its Crowdsourcing Model to Sales “CompStak, the real estate information firm that shook up the clandestine world of office leasing by introducing crowdsourced comps, is now taking on the investment-sales space.” (The Real Deal)
  9. Knickerbocker Village Gets $33.5 Million in ‘Build it Back’ Funds “A sprawling affordable housing complex hit hard by Hurricane Sandy will get a host of resiliency upgrades after landing a $33.5 million grant through the city's Build it Back” (DNA Info)
  10. Toys ‘R’ Us Testing AR to Make Stores Digital Playgrounds “The retailer announced it has begun testing an augmented reality app, called Play Chaser, in 23 stores nationwide, with a chainwide roll-out planned for Oct. 21.” (Chain Store Age)
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