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Five Must Reads for the CRE Industry Today (May 20, 2019)

Deutsche Bank compliance employees previously flagged suspicious activity tied to Trump and Kushner accounts, reports The New York Times. Forbes looks at top 10 tips for first-time real estate investors. These are among the top must reads for the commercial real estate industry today.

  1. Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts “The transactions, some of which involved Mr. Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five current and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes.” (The New York Times)
  2. New York’s Green New Deal Would Clobber Trump Tower and Queens Co-Ops “Mayor Bill de Blasio threatened last week to ban new glass skyscrapers if they don’t reduce carbon emissions. But many of the properties likely to face fines under the city’s recently adopted Green New Deal are older brick-walled apartment buildings across the city, according to an analysis by The Wall Street Journal.” (Wall Street Journal)
  3. Top 10 Tips for First Time Real Estate Investors “Real estate can be a tremendous investment opportunity. And for those who are in for the long run, rental properties really can’t be beat.  But when it comes to taking that crucial first step, most people aren’t sure where to start. If you’re in this boat — looking to get started with real estate but leery to dive in — don’t worry. That’s a good sign. Being careful with any investment is always a good idea, and real estate is no exception.” (Forbes)
  4. Sears’ Demise Was Seven Decades in the Making “Despite Lampert’s predictions of a ‘strategic transformation’ that would make Sears “a truly great retail business,” the company hasn’t managed a single year of revenue growth since then, or earned a dime of profit since 2010. The latest twist: Sears Holdings, the bankrupt entity that sold its assets to Lampert, is suing him and others for stripping the company of billions when he was CEO. Lampert and ESL have denied any wrongdoing.” (Fortune)
  5. Uptown Dallas Block Sells for New High-Rise Project “Rastegar Proeprty Co. is still studying plans for what to do with the triangular block at McKinney Avenue and Akard Street just north of downtown Dallas. The site also fronts Cedar Springs Road and is right across the street from the new Union high-rise office, residential and retail complex.” (Dallas Morning News)
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