MarketWatch, May 12, 2018–Gregg RobbEconomists have trimmed their odds of an economic downturn through early 2019, according to the latest survey of professional forecasters released by the Philadelphia Fed on Friday.
Category: Top National News
‘Wonder Woman 2’ to Film at Alexandria’s [Va.] Dead Landmark Mall
Washington Business Journal, May 3, 2018–Michael NiebauerResurrecting a dead mall, even if only for a short time, is a job for an Amazonian princess. “Wonder Woman 2,” the sequel to the smash 2017 hit movie, will film at the shuttered Landmark Mall in Alexandria, Va.
New York’s Storied Plaza Hotel Is Set to Sell for $600 Million
Bloomberg, May 4, 2018–Gillian TanNew York’s iconic Plaza Hotel is about to change hands. Its buyers are Shahal Khan, founder of Dubai-based family office White City Ventures, and Kamran Hakim, of New York landlord Hakim Organization. They agreed to pay $600 million for the hotel, at the southeast corner of Central Park, in a deal that is set to be completed on June 25.
GSE Reform Is Dead–Long Live GSE Reform!
Urban Institute, May 9, 2018–Jim Parrott, Mark M. ZandiAs it becomes apparent that the 115th Congress will not pass legislation to reform Fannie Mae and Freddie Mac, the authors describe the path the current administration will likely take to reform the government-sponsored enterprises administratively.
Forget Owning, Renting is Becoming the End Game for Many Millennials and Baby Boomers
Washington Post, May 8, 2018–Robert PinnegarInstead of viewing renting as a short-term phase, an increasing number of residents are choosing rental housing specifically because it offers a more flexible lifestyle than homeownership.
Momentum Slowing in Detroit’s Commercial Real Estate Market? No Evidence of That
Real Estate Journals, Apr. 27, 2018–Dan RafterDennis Bernard, founder and president of Southfield, Michigan-based Bernard Financial Group, said that the Detroit commercial real estate market continues to gain momentum.
Pimco Continues Push Into Alternatives with Commercial Real Estate Debt Fund
Financial News, Apr. 30, 2018–Justin Baer Bond Manager Pacific Investment Management Co. is raising money for a new multibillion-dollar commercial real estate debt fund, its latest foray into more lucrative but less liquid markets.
Owning Is the New Renting: Homeownership Trends Upward as U.S. Loses Renter Households
Wall Street Journal, Apr. 26, 2018–Laura Kusisto (subscription)Rising wages, loosening credit standards and demographic shifts are all creating momentum for owning rather than renting.
Sears’ Remaining Stores May Not Garner Much Demand, as Retailer Faces New Struggles
National Real Estate Investor, Apr. 26, 2018–Donna MitchellFrom a real estate perspective, executives are unsure of how much value hedge fund ESL Investments, or anyone else, can ultimately extract from Sears’ assets.
Co-Working Spaces are Gobbling up Huge Swaths of Real Estate
New York Post, Apr. 23, 2018–Lois WeissOnce a way to quickly lease a floor or two in an office building, shared work spaces have become so hip that businesses are even leasing them for their entire staffs or as satellite offices. That means, in more and more cases, communal offices are competing with traditional commercial real estate properties for the same tenants.