Commercial Property Executive, May 2, 2019–Matthew WurtzebachUnderstanding how debt funds compete and which are best suited for a particular transaction can add tremendous value to owners’ capital structures, Draper & Kramer’s Matthew Wurtzebach said.
Category: Top National News
Amazon Says It Will Avoid a Housing Crunch With HQ2 by Planning Better Than It Did in Seattle
Washington Post, May 3, 2019–Robert McCartney, Patricia Sullivan Amazon said its new second headquarters in Virginia will not aggravate housing problems as much as in Seattle because it will be able to plan for growth in a way that it could not in earlier years in its home base.
Fifth Avenue Losing Luster as Vacancies Climb, Rents Fall
Wall Street Journal, May 7, 2019–Esther Fung (subscription)Global retailers once seemed to pay whatever it took to lease space on Manhattan’s Fifth Avenue. That doesn’t appear to be the case anymore.
Millennials Tried to Kill the American Mall, But Gen Z Might Save It
Bloomberg, Apr 25, 2019–Jordyn Holman Perhaps the biggest surprise about teenagers: They love the shopping mall. Around 95 percent of them visited a physical shopping center in a three-month period in 2018, as opposed to just 75 percent of millennials and 58 percent of Gen X.
Housing Costs Growing Faster For Low-Income Families
Houston Public Media, Apr. 29, 2019–Florian MartinHousing costs are growing faster for those with lower incomes, according to a study by Apartment List.
Borrowers Cash in on Competitive Debt Fund Space
National Real Estate Investor, Apr. 30, 2019–Beth Mattson-TeigBorrowers are taking advantage of the crowded debt fund space to find good deals on short-term bridge loans. Competition has heated up in the past six months on financing transitional assets that have a renovation plan or a value-add component, especially those that have in-place cash flow.
Big Buildings Hurt the Climate. New York City Hopes to Change That
New York Times, Apr. 17, 2019–William NeumanNew York City is about to embark on an ambitious plan to fight climate change that would force thousands of large buildings such as the Empire State Building and Trump Tower to sharply reduce their greenhouse gas emissions.
Private Equity Cash Turns Off Some Clients, Mutual Fund CEO Says
Bloomberg, April 22, 2019–John GittelsohnInstitutional investors are starting to turn away from private equity real estate and infrastructure investments in favor of liquid funds that put their money to work faster, according to the head of a firm that offers such products.
CMBS Market Update
Commercial Property Executive, Apr. 24, 2019–Jeffrey SteeleHow will CMBS origination stack up this year? After the first several months of 2019, signs continue to point to a significant decline in volume, though some observers contend the reduction could be less severe than expected. (MBA mention)
Inside Destiny USA’s Mortgage Emergency: Crisis or Hardball Bargaining?
Syracuse.com (N.Y.), Apr. 19, 2019–Rick MoriartyDestiny USA’s D-Day arrives June 6. On that day, its $430 million in mortgage loans come due in full, and the owner of the giant Syracuse mall is in danger of default.