New leases in Manhattan declined by 71 percent in April compared to a year earlier.
Brookfield Asset Management has more than $60 billion in cash to help it survive the pandemic.
Jaws Acquisition Corp. aims to list on the New York Stock Exchange and would target companies in growth-oriented industries.
Neiman Marcus creditor has asked the retailer to consider a buyout by Saks Fifth Avenue, reports Reuters. CoStar is buying the commercial real estate division of Ten-X LLC for $190 million, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
Landlords discussing rent relief with commercial tenants need to consider a number of caveats.
More retail landlords are rolling out the option for mom-and-pop tenants. The trend is expected to stick.
The company is considering options for its Chelsea-based global headquarters.
The New York Times looks at the future of shopping. Seniors are holding off on special housing due to a rise in telemedicine, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
With tourism imploding and lenders wary, some hotels under construction are no longer worth completing.
Agencies, life companies, banks and other sources have shown a willingness to do deals on well-positioned assets.
“The psychological impact of risk aversion setting in cannot be understated,” HSBC’s James Pomeroy and Fabio Balboni wrote in a May 1 note.
The state will allow its casinos to reopen next Monday, providing an early test of the gambling’s industry ability to come back.
Chinese investment in the U.S. dropped to the lowest levels since the financial crisis, reports Reuters. Wall Street investors are flocking to single-family rental REITs, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
Mayor John Cooper has proposed a 32 percent property tax increase to shore up government coffers.
Some will be undone by higher operating costs driven by the pandemic. But the sector will eventually rebound, brokers insist.
Tips and insights for how investors can navigate markets and plan for the future in times of uncertainty.
The REIT had held discussions with Bank of America, among others, about a potential high-yield bond offering.
Investors across the board are interested in co-investment opportunities in distressed assets and loans.
Commercial real estate hiring is a mixed bag, according to analysis of Indeed.com’s job postings that Bisnow wrote up. Brookfield has launched a $5 billion rescue fund to aid retailers, reports the Financial Times. BlackRock raised $1.3 billion for a European property fund, according to GlobeSt.com. These are among today’s must reads from around the commercial real estate industry.
The shift in tone follows weeks of pressure from members of Johnson’s Conservative Party pushing for a swift end to the lockdown.