- SPECIAL REPORT Giant U.S. landlords pursue evictions despite CDC ban “As the coronavirus pandemic moves into its second year, Robinson’s case and many others like it reveal that landlords have persisted in pursuing evictions across the United States, despite government measures meant to keep tenants in their homes.” (Reuters)
- Private Equity’s Favorite Tax Break May Be in Danger “The carried interest loophole might finally disappear. Profits earned from funds owned by real estate investors and managers of private equity and venture capital firms are taxed as capital gains at about 20 percent, instead of as regular income, which is taxed at more than double that rate when state levies and other taxes are taken into account.” (The New York Times)
- Pandemic takes toll on real estate fundraising in 2020 “Of the total capital raised, 60% went to non-listed funds, 17% went into separate accounts investing directly and 12% went into non-listed debt products, according to the survey. The remaining 11% combined went into funds of funds, joint ventures and club deals and separate accounts investing indirectly.” (Pensions & Investments)
- Most SL Green Tenants Back in the Office By September, CEO Says “Holliday described the city as undergoing a “vast reawakening” as job growth picks up and vaccinations continue to roll out. Any such success would be welcome news to the commercial real estate industry, which the coronavirus pandemic has pummeled. Manhattan’s office vacancy rate reached 16.3 percent in the first quarter of 2021, the highest level since at least 1994, according to brokerage Cushman & Wakefield.” (Commercial Observer)
- USAA acquires full ownership of Square Mile Capital “Effective April 1, USAA Real Estate completed the long-planned acquisition of the remaining interest in the company initially owned by co-founders Craig Solomon and Jeff Citrin. Simultaneous with the deal, Solomon assumed an ownership interest in the combined USAA Real Estate/Square Mile platform and was appointed to USAA Real Estate’s Board of Directors.” (Real Estate Weekly)
- ESG-Linked CRE Financing Is Profitable PR, Say Experts “Some experts say there’s both less and more to it than meets the eye. The arrangements are largely exercises in public relations, according to sources speaking to GlobeSt.com. But it’s PR that can pay off with an edge in financing for the real estate companies, reduced risk for lenders, and happier investors for financial institutions.” (GlobeSt.com)
- Tractor Supply off to strong start in Q1; 90 new stores, 150 to 200 remodels on tap “The nation’s largest rural lifestyle retailer expects approximately 80 new Tractor Supply and 10 new Petsense store openings in its current fiscal year. The company also plans 150 to 200 “project fusion” remodels of existing locations.” (Chain Store Age)
- Facing 'Avalanche' Of Eviction Cases, NJ Panel Recommends Fixes To Landlord-Tenant Court “A panel of tenant advocates, landlord representatives, and court staff convened by New Jersey Chief Justice Stuart Rabner made 18 recommendations to the court that would not only help handle a deluge of eviction filings but also reimagine the court process for landlords and tenants. More than a third of New Jersey residents rent their homes, and in cities like Newark, renters make up 78% of the population.” (Gothamist)
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