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10 Must Reads for the CRE Industry Today (September 5, 2018)

Pimco is hiring a top dealmaker from the Blackstone Group, the New York Times reports. J.Crew is going to sell a selection of clothing on Amazon.com, the Wall Street Journal reports. These are among today’s must reads from around the commercial real estate industry.

  1. Pimco to Hire Top Deal Maker From Blackstone “Over three decades, John Studzinski has been a consummate deal maker — first at Morgan Stanley, then HSBC and most recently the Blackstone Group — acting as a consigliere to chief executives around the world.” (New York Times)
  2. Crew Alters Amazon Approach, Will Sell Some Items on the Site “J.Crew Group Inc. has decided to sell a limited selection of clothing on Amazon.com Inc., bettering the potential benefits outweigh the risks of partnering with the retail industry’s biggest foe.” (Wall Street Journal, subscription required)
  3. After a Starbucks Opens in Town, Housing Prices Tend to Rise, Harvard Study Finds “Each new Starbucks boosts the value of housing prices in a neighborhood. And not by an insignificant amount.” (CNBC)
  4. Landis Acquires Real Estate Startup GoldenKeyLandis, a platform that uses data science to help institutional real estate investors buy and sell residential real estate, today announced that it has acquired GoldenKey, a well-funded startup that set out to disrupt real estate agents and unbundle the real estate industry.” (TechCrunch)
  5. Buying a Home Now Cheaper Than Renting in Only 35% of US Counties “CNBC’s Diana Olick reports on the changes in the eternal ‘rent or buy?’ debate in housing.” (CNBC)
  6. What Real Estate Investors Need To Know About The Impact Of Evolving Fintech “Advances in technology continue to transform multiple industries. Every aspect of our world has changed dramatically within a short span of time. Airbnb is bigger than the world’s top five hotel brands combined, but doesn’t own any real estate. Uber is said to be the world’s largest taxi company but doesn't own any vehicles. Leading communication channels such as Skype and WhatsApp no longer need traditional telephone infrastructure.” (Forbes)
  7. DOB Hits Landlords of Illegal Hotels With $285K in Fines “City Hall has continued its crusade against illegal short-term rentals by slapping landlords who illegally convert residential buildings and rent them out on a nightly basis with nearly $300,000 in penalties during the month of July alone.” (Commercial Observer)
  8. Here’s What the $10M-$20M NYC Investment Sales Market Looked Like Last Week “In the world of mid-market New York City investment sales last week, Asana Partners acquired a Williamsburg apartment building and E&C Management purchased in Harlem.” (The Real Deal)
  9. Casualties of Trade War? Farmland Real Estate Is Holding Fast—for Now “With President Donald Trump having marched merrily into a trade war with China, one of the more neglected questions is a real estate one: What will this mean for the millions of acres of U.S. farmland?” (Commercial Observer)
  10. Inditex Puts Its Global Ship-From-Store Plan Into High Gear “The parent company of Zara wants to give customers around the world access to all of its brands — even in markets where it doesn’t operate physical locations.” (Chain Store Age)
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