10 Must Reads for the CRE Industry Today (October 30, 2014)

10 Must Reads for the CRE Industry Today (October 30, 2014)


  1. Seven Non-Traded REITs Exploring Sales or Mergers “Looking to acquire a pre-packaged portfolio of office, industrial, retail, health care, hospitality or multifamily properties? Look no further than the pack of non-traded REITs that have recently hired financial advisors to leave their non-traded status behind and test the market for potential buyers, merger partners, or pursuing a public stock exchange listing.” (CoStar)
  2. Hilco Real Estate Finance sold, rebrands as Jordan Capital Finance “Hilco Real Estate has sold its private real estate mortgage lending company, Hilco Real Estate Finance, to the Garrison Investment Group for an undisclosed amount. Hilco Real Estate, a unit of Hilco Global, founded Hilco Real Estate Finance in 2012. In the ensuing year and a half, Hilco Real Estate Finance has ‘exceeded all expectations and financial projections,’according to Neil Aaronson, CEO of Hilco Real Estate.” (HousingWire)
  3. Ohio PERS allocates $75m to value-add, retail real estate “Ohio Public Employees Retirement System has allocated $75m to FCA Partners to invest in retail property. The new allocation will be invested over the remainder of this year and the beginning of next year. Capital will be invested in a mixture of grocery-anchored shopping centres and power shopping centres across the US, with a value-add approach.” (I&P Real Estate)
  4. Commercial real estate startup RealMassive expands to Dallas, Houston, San Francisco “RealMassive is launching its commercial real estate data service in a handful of lucrative new cities, the startup announced today. The Austin, Texas-based startup provides an open platform for landlords, tenants, and others to contribute data about available commercial properties like offices, retail spaces, and more. It’s meant to be a more comprehensive, reliable solution than listing availabilities on sites like Craigslist, and those looking for properties can also search though what’s available.” (Venture Beat)
  5. Brixmor upgrades shopping center portfolio “Brixmor Property Group Inc. has provided an update on its ongoing program to maximize value in its shopping center portfolio. These initiatives involve upgrading its centers' merchandise mix with strong, best-in-class anchors to drive higher sales, traffic and small shop leasing, while elevating center appeal to improve rent levels and shopping center net operating income.  Since July 2011 and continuing through its initial public offering in late 2013 to today, Brixmor has intensified its focus on enhancing the quality of its assets and improving the customer experience through a unified organizational effort known as ‘Raising the Bar.’” (Chain Store Age)
  6. Marcus Partners Closes Fund II; Raises $250M “Marcus Partners reports the final closing of its second investment fund—Marcus Capital Partners Fund II—with $250 million in capital commitments. The locally-based real estate investor, operator and redeveloper says that capital commitments came from a variety of large institutional investors, including a public pension plan, university endowments, and foundations, as well as family offices and investors who have participated in ventures with the team for nearly two decades.” (GlobeSt.com)
  7. Colliers, CoreNET Global Partner Join Forces on Benchmarking “Colliers International and CoreNet Global have come together to form the first BenchCoRE-Service Provider benchmarking agreement. Colliers will enhance its Colliers 360 dashboard and analytics technology with the data services of CoreNet’s BenchCORE benchmarking service.” (Commercial Property Executive)
  8. Expecting U.S. Growth to Slow? REIT Pair Trade Pays 1.6% “Investors who see a slowdown for the U.S. economy may be interested in a strategy of being long Health Care REIT Inc. (HCN) and short Simon Property Group Inc. (SPG) Health Care REIT, the largest U.S. health-care landlord by market value, is up 32 percent since Dec. 19, outpacing the 22 percent gain for Simon Property, the biggest U.S. owner of shopping malls. Their stock-price ratio is rising from an all-time low -- see chart. Health Care REIT shares closed at $69.21 yesterday, while Simon Property was at $175.98.” (Bloomberg)
  9. Wells Fargo and BNY Mellon Lead $412M Loan for Durst West Side Rental “The Durst Organization scored a $411.5 million construction loan from a group of lenders led by Wells Fargo and Bank of New York Mellon Corp. to finance the development of its tetrahedron-shaped rental tower at 625 West 57th Street, sources familiar with the deal told Mortgage Observer. The loan, which closed last week, carries a term of four years with a one-year extension option and ‘smoking interest rates,’ one person familiar with the transaction said on the condition of anonymity.” (Commercial Observer)
  10. Auction.com teaming up with Google to offer real estate ‘Nowcast’ “Housing reports are not generally known for their timeliness. Forecasts, indices and other indicators are typically based on data that is weeks, if not months, old. Online real estate marketplace Auction.com, with backing from Google, is looking to change that with the launch of its real estate ‘Nowcast.’ Nowcast combines industry data, proprietary company transactional data and Google Trends data to predict market trends accurately and in real time, Auction.com said. The report predicts real estate activity based on data modeling developed by Google Chief Economist Hal Varian.” (Inman)
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