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Five Must Reads for the CRE Industry Today (Feb. 24, 2020)

Bisnow profiles 24 Black executives playing significant roles in the commercial real estate industry. Investment sales volume in Chicago fell by nearly 50 percent in 2019, reports the Chicago Tribune. These are among today’s must reads from around the commercial real estate industry.

  1. 24 Black Executives Shaping Commercial Real Estate “Representation is a powerful force. Seeing a peer in a position of power or influence can be the difference between seeing a goal as a pipedream or a possibility. For Black History Month, Bisnow is celebrating the men and women in the commercial real estate industry who represent what is possible when the traditional barriers to entry for people of color in the industry are broken down, either by force of will or with the help of mentors and sponsors. The two dozen industry leaders below are but a small collection of the diverse talent in the ranks of real estate.” (Bisnow)
  2. REITs Lead As Rates Plunge “Investors piled into bonds, real estate, and other safe-haven assets this week as uncertainty over the extent of the economic fallout from the coronavirus outbreak weighed on market sentiment.” (Seeking Alpha)
  3. Sales of Chicago commercial buildings plunged in 2019: ‘Everyone was asking me what’s wrong with Chicago’ “Sales of office, apartment, hotel and industrial buildings in the city totaled $8.07 billion in 2019, down from the post-recession peak of $16 billion a year earlier, according to Jones Lang LaSalle.” (Chicago Tribune)
  4. Bahrain's Investcorp adds $164m US acquisitions to real estate portfolio “Bahrain Bourse-listed investment management firm Investcorp, which provides and manages alternative investment products, has acquired two residential properties in South Florida, US, for approximately $164m. The acquisition strengthens Investcorp’s US multifamily real estate portfolio and follows a highly active period of investment in multifamily properties.” (Construction Week Online)
  5. How Will Artificial Intelligence Change The Commercial Real Estate Industry? “The real estate sector is in a great position to leverage AI and automation technologies to increase productivity, reduce costs and minimize errors. The number of workers who are engaged in manual tasks that only require basic cognitive skills will likely decline. On the other hand, the number of technology and management experts will continue to grow as the demand for social and creative skills will increase dramatically.” (Forbes)
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