National Real Estate Investor, Mar. 31, 2017–Patricia KirkChicago’s 43-year-old Willis Tower (formerly Sears Tower), which at 110 stories is the tallest building in Chicago and the nation, is getting a $500-million facelift, expected to be completed in 2019.
Category: Top National News
Eight Economists Offer Investment Advice for 2017
National Real Estate Investor, Mar. 29, 2017–Diana BellReal estate economists and researchers share their advice for today’s commercial real estate investors.
Uncertainty Weighs on Apartment Lending Sector
National Real Estate Investor, Apr. 4, 2017–Bendix AndersonJust when lenders and borrowers thought interest rates would finally start to rise in 2017, interest rates stopped going up. Lenders are struggling to adapt. But they keep on lending.
Richmond Fed’s Jeffrey Lacker Steps Down Over His Role in 2012 Leak Case
Wall Street Journal, Apr. 4, 2017–David Harrison; Ben Leubsdorf; Michael S. Derby (subscription)Federal Reserve Bank of Richmond President Jeffrey Lacker said he was stepping down effective Tuesday in a statement that revealed his involvement in an alleged 2012 leak of confidential Fed information.
Commercial Real Estate Cools
Scotsman Guide, Apr. 4, 2017–Victor WhitmanDespite the early-year slowdown in sales, the Mortgage Bankers Association projected a record year for commercial and multifamily originations.
America is ‘Over-Stored’ and Payless ShoeSource is the Latest Victim
Washington Post, Apr. 5, 2017–Travis AndrewsPayless ShoeSource became the latest major retailer to declare financial distress when, on Tuesday, the company filed for Chapter 11 bankruptcy and announced a restructuring plan that includes the immediate closure of 400 stores in the United States and Puerto Rico.
The Dead Heads of Commercial Real Estate (Including POTUS)
Commercial Observer, Mar. 23, 2017–Larry GetlenThroughout the New York real estate world, love for the Grateful Dead is ever-present, a mellow vacation and flipside to the hard-charging world of the real estate business.
With Homeownership at 50-Year Low, U.S. Becoming a Nation of Renters
GoRion, Mar. 28, 2017–Sam BourgiJust 63 perecnt of American households owned a home in 2016–the lowest rate in 50 years–and there’s reason to believe the rate will continue to decline as low inventories, affordability challenges and an uneven recovery make homeownership less of a reality for many Americans.
Evans Says Two Fed Hikes in 2017 May Be Right
Bloomberg, Mar. 27, 2017–Matthew BoeslerFederal Reserve Bank of Chicago President Charles Evans said two interest-rate increases may be the right amount of tightening for the U.S. economy this year given uncertainty surrounding the outlook for inflation and government spending.
Deutsche Bank Biggest Commercial Property Lender in New York
Financial Times, Mar. 27, 2017–Alistair Gray (Subscription)Deutsche Bank has become the biggest commercial property lender in New York City, expanding real estate financing more than a third even as rivals step back in the face of scrutiny from regulators concerned about a bubble.