Bloomberg, Nov. 1, 2018–Gillian TanJones Lang LaSalle subsidiary LaSalle Investment Management is betting big on commercial real estate debt. LaSalle is acquiring a majority stake in Latitude Management Real Estate Investors, which manages $1.2 billion across credit funds. Latitude provides short-term, or bridge, loans to borrowers focused on commercial property in regions of the U.S. deemed to be growing.
Category: Top National News
New Toys ‘R’ Us Owners Mull Physical Stores
Crain’s Chicago Business, Nov. 2, 2018The hedge funds that now own the Toys “R” Us brand plan to relaunch the toy retailer as a standalone operation next year. They will look to raise capital to help revive the chain, which closed its last stores at the end of June, and are making plans that include brick-and-mortar locations.
Release of Guidelines Renews Interest in Opportunity Zones
Commercial Property Executive, Nov. 2, 2018–Paul FiorillaThe Treasury Department’s release of guidelines for opportunity zones has unleashed a flood of managers raising funds to invest in low-income areas and take advantage of tax breaks.
Lowe’s to Close Nearly 50 Stores
Wall Street Journal, Nov. 5, 2018–Sarah Nassauer (subscription)Lowe’s Cos. Inc. said it would close nearly 50 stores as a new CEO seeks to boost sales by shedding less-profitable locations and focus spending elsewhere.
Multifamily Lending in U.S. Hit New High of $285 Billion in 2017
World Property Journal, Nov. 1, 2018–Monsef RachidAccording to the Mortgage Bankers Association’s annual report on the U.S. multifamily lending market, strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017, as lenders provided a record high $285 billion in new mortgages for apartment buildings with five or more units.
Siding with Landlords and Lenders, Voters Reject Expanded Rent Control
National Mortgage News, Nov. 7, 2018–Elina Tarkazikis (free article)California voters rejected Proposition 10, which would have reduced state restrictions on municipal rent control laws that proponents said would create more affordable housing options for tenants, but was opposed by real estate and mortgage industry interests. “We recognized early on that this could have a very far-reaching impact on the multifamily industry and the housing industry, so we’re very pleased with the outcome of the election,” said Sharon Walker, associate vice president of multifamily at the Mortgage Bankers Association.
Identifying Lucrative Value-Add Multifamily Opportunities as the Cycle Lengthens
National Real Estate Investor, Oct. 31, 2018–Mark SharkanskyThe appetite for value-add multifamily investments remains strong-and in light of this increasing competition, many investors are struggling to identify and secure assets that present high-reward opportunities.
What Digital Transformation Means For The Commercial Real Estate Practitioner
Forbes, Oct. 25, 2018–Robert FinlayWhen it comes to the digital transformation of commercial real estate, the future is now. Digital technologies and advanced analytics are helping businesses across industries learn and achieve more.
Apartment Construction Begins to Slow Down
National Real Estate Investor, Oct. 30, 2018–Bendix AndersonApartment building developers may finally take a breather in their rush to build new units.
Multifamily Deals Are Getting Harder to Pencil
GlobeSt.com, Oct. 21,2018–Kelsi Maree BorlandThe multifamily market is challenging today, but there are still reasons to be excited about it, including growing demand and Class B and secondary market rent growth.