- Investors Are Buying More of the U.S. Housing Market Than Ever Before “Investor purchases of U.S. homes have climbed to an all-time high, a sign that rising home prices have done little to dampen demand for flipping homes or turning them into single-family rentals.” (Wall Street Journal, subscription required)
- Kroger Stumbles as Competition Gets Fiercer in the Grocery Space “Kroger Co. fell the most in more than three months after posting an uneven quarterly performance, fueling investor concerns that Walmart Inc. and other rivals are taking sales and shoppers away from the grocer.” (Bloomberg)
- Fannie and Freddie’s Latest Push: Factory-Built Homes “The gatekeepers of America’s housing market want to make it more affordable to buy a manufactured home. So far, they have found it a tough sell.” (Wall Street Journal, subscription required)
- Want a House Like This? Prepare for a Bidding War With Investors “A confluence of factors — rising construction costs, restrictive zoning rules and shifting consumer preferences, among others — has already led to a scarcity of affordably priced housing in many big cities. Investors, fueled by Wall Street capital, are snapping up much of what remains.” (The New York Times)
- Celebrities Developing Real Estate in Their Second Acts “The 168-unit 50 Rector Park rental — the first market-rate residential high-rise constructed in Newark, NJ, since 1962 — opened last Saturday. The 23-story building has a roof deck with cabanas, a residents’ lounge and units (from $1,800 for a studio) with floor-to-ceiling windows. But residents also get another perk: a home backed by a celebrity turned real estate developer in their second acts. Basketball legend Shaquille O’Neal, who is a Newark native, teamed up with New Brunswick, NJ-based Boraie Development on 50 Rector Park — and 777 McCarter Highway, another rental nearby that will begin construction in 2020.” (New York Post)
- Sunbelt States Primed for Multifamily Investment “Population growth has made the sunbelt states among the most popular markets for multifamily investment this year.” (GlobeSt.com)
- Market Analysis: Grading the Midtown Avenues “At the top of the asking rent class are Park Avenue ($109.97 per square foot), Madison Avenue ($98.33per square foot) and Fifth Avenue ($91.52 per square foot), influenced by a healthy collection of Class A and trophy buildings such as 767 Fifth Avenue, 375 Park Avenue and 520 Madison Avenue.” (Commercial Observer)
- Sunshine State Grows Up, Emerges As Player On World Stage “Once highly prone to boom-and-bust cycles, the Florida economy is now far more diverse and robust. That is directly benefiting the state’s real estate market.” (Forbes)
- A Million Square Feet of New Buildings on the Drawing Boards for Fulton Market “A pair of local tech-focused companies and a Chicago real estate firm want to board the Fulton Market development train with a trio of buildings totaling nearly 1 million square feet.” (Crain’s Chicago Business)
- $1 Billion 5M Project Starts Construction, Transforming South of Market “After more than a decade of planning, including a three-year legal battle, the $1 billion 5M project will break ground on Thursday. Developer Brookfield Properties and partner Hearst, owner of The Chronicle, will transform four acres of parking lots and vacant buildings at 5th and Mission streets with two new towers, a 200-foot apartment building, two parks and renovated historic buildings.” (San Francisco Chronicle)
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