NREI WIRE
Stein Mart store Joe Raedle/Getty Images

Nine Must Reads for the CRE Industry Today (Aug. 13, 2020)

Stein Mart filed for Chapter 11 bankruptcy and plans to permanently close most of its stores, reports CNBC. Online investment platform YieldStreet is being investigated by two government agencies, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. Two U.S. Agencies Examining Investments Sold by Crowdfunding Site YieldStreet “Two U.S. agencies are examining investments sold by YieldStreet Inc., an online platform that pitches itself as giving people the chance to get in on deals usually reserved for the largest investors.” (Wall Street Journal, subscription required)
  2. Stein Mart Files for Bankruptcy and Plans to Close Most, If Not All, of Its Stores “The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic.” (CNBC)
  3. Brooks Brothers Bought by Venture Backed by Authentic Brands, Simon Property “A venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. SPG, 0.64% has agreed to buy Brooks Brothers Inc. for $325 million.” (MarketWatch)
  4. Harlem Development Boom to Bring New Target to 125th Street “Shrugging off gloomy predictions about the city’s future, big-league developers on Monday unveiled plans for transformative new projects on Harlem’s famed 125th Street, including a new Target.” (New York Post)
  5. SF Restaurant’s $200-Per-Person Dome is America’s Problems in a Plastic Nutshell “In lieu of aggressive public policies that would actually take care of the people who make up this country during a massive global pandemic, we now have plastic dome-covered tables and quirky improvised patios being erected outside of restaurants — solutions that beleaguered restaurateurs have slapped together to prevent their businesses and employees’ livelihoods from being completely wrecked as we enter the seventh month of this thing.” (San Francisco Chronicle)
  6. Hotel Robots Get Second Life as Industry Adapts to Covid-19 “Robots that delivered a burger and fries a few years ago were a high-tech gimmick that gave hotel guests a good laugh. Now, some manufacturers suggest these machines could help guests stay safe during a global pandemic.” (Wall Street Journal, subscription required)
  7. New York City Could Use a Champion. Who Will Step Up? “The absence of a champion for New York has gained notice, particularly among old hands who witnessed and participated in past New York City crises and yearn for more inspiring leadership.” (The New York Times)
  8. COVID-19 Slows Real Estate In Houston's Normally Bustling Healthcare Industry “Higher costs from COVID-19 and lower revenues from pausing profitable elective surgeries have hurt Houston-area healthcare providers, prompting them to pause real estate projects and transactions.” (GlobeSt.com)
  9. Telemedicine Startup Eden Health Raises $25 Million To Expand Commercial Real Estate Partnerships “Eden Health, a telemedicine company founded in 2015, raised $25 million in Series B financing, in part to expand its partnerships with commercial real estate firms through virtual and in-person health consultations.” (Forbes)
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish