Wall Street Journal, Apr. 11, 2017–Peter Grant (subscription)Carnegie Hall Tower, the Manhattan office skyscraper that helped shore up the finances of the fabled concert hall, refinanced its debt with a $325 million loan from Metropolitan Life Insurance.
Category: Top National News
Chicago Entices Companies to Return Downtown
Wall Street Journal, Apr. 11, 2017–Shibani Mahtani, Andrew Tangel (subscription)The tide of companies moving back to big cities in search of talent and better transportation links is rising, reviving many downtowns at the expense of suburbs and smaller communities.
Commercial Lenders Brace for Damage from Retail Plunge
National Mortgage News, Apr. 11, 2017–Andy Peters (subscription)A litany of bankruptcies among retailers has many lenders on edge as they and others try to predict how much damage it could do to bank earnings–and how soon.
3 Charts That Show Why Commercial Real Estate Could be the Next ‘Big Short’
Business Insider, Mar. 30, 2017–Stephen McBrideBearish bets against commercial loans jumped 50% year-over-year in February.
How Crowdfunding is Democratizing Real Estate Investing
NPR Marketplace, Mar. 30, 2017–Molly Wood, Maria HollenhorstCrowdfunding has become a popular source of development financing, said Rodrigo Niño of Prodigy Network, which uses crowdfunding to build commercial real estate.
Why We Could Get Negative Interest Rates Even Though The Fed Is Hiking
Forbes, Apr. 3, 2017–Stephen McBrideAt its March meeting, the Federal Reserve said monetary policy will remain accommodative “for some time.” This willingness to let inflation “run hot” means even as nominal rates rise, real rates–that is, the nominal interest rate minus inflation–are headed into negative territory.
Bank of the Ozarks: The Commercial Real Estate Lender That’s Reaching Way Past Arkansas
National Real Estate Investor, April 3, 2017–Eli RazinBank of the Ozarks, based in Little Rock, Ark., broke into CrediFi’s ranking of the top 10 New York City lenders in the fourth quarter of 2016 with over $500 million in loan originations and a 3.0 percent market share.
Altisource Residential Growing Single-Family Rental Business Again
HousingWire, Mar. 31, 2017–Ben LaneFriday, the company announced that it is growing its single-family rental portfolio again, in another deal with Amherst Holdings affiliates.
Inside Blackstone’s $500 Million Willis Tower Makeover
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.
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.