- Billions in Signature Bank Debt to Be Sold by Newmark Group “The Manhattan-based bank was especially active in New York City, where it issued the largest number of commercial real-estate mortgages since Jan. 1, 2020, according to an analysis by the property news and data company PincusCo. Signature lent out $13.4 billion against New York City buildings with loan amounts of $5 million or more during that period, PincusCo. said.” (The Wall Street Journal)
- Amazon May Buy Distressed AMC Theater Chain in Seismic Hollywood Streaming Shift “The discussions inside Amazon’s headquarters in Seattle and entertainment offices in Los Angeles are fluid, and there is no certainty that the retail giant will even make an offer. One insider told The Intersect that Bezos may just bide his time should AMC’s stock continue to erode, or even pounce on AMC assets if the company buckles into bankruptcy — a strategy reminiscent of British banking giant Barclays’ takeover of Lehman Bros. during the financial crisis.” (The Intersect)
- The trouble with tenancy-in-common “Like much else in the real estate industry, one person’s headache is another’s opportunity. For potential buyers, the TIC structure can allow them to take control of a property with difficult owners. Extell Development’s Gary Barnett famously took over 14 Midtown buildings known as the Ring portfolio in part by purchasing stakes in them and forcing partition sales.” (The Real Deal)
- Leading With Purpose: Tammy Jones on Empowering Women in CRE “Empowering women and minority-owned businesses in the CRE industry is among Jones’ primary goals. As the vice chairman of Basis Impact Group Foundation, a non-profit organization dedicated to creating a pipeline of women and minorities in CRE, she is committed to providing opportunities and resources for underrepresented groups in the industry.” (Commercial Property Executive)
- Of Course WFH is “Really Working” “To be fair, training, mentorship, and maintaining corporate culture are challenges when operating remotely. But just like the small mammals that learned to opportunistically take advantage when operating around the lumbering dinosaurs 210 million years ago, smart companies can be nimble.” (The Big Picture)
- Global Real Estate Leaders See Hopeful Signs Amid Ongoing Market Uncertainty “Formed in 2006, REESA members work across their regional markets to educate and inform investors and policymakers on the benefits of REIT and securitized real estate equity investment. Today, those efforts are reflected in the fact that 41 countries and regions have adopted the REIT approach to real estate investment.” (Nareit)
- Can New York Fix Its Housing Crisis? It Depends on the Suburbs “By one measure, Westchester County and Long Island have allowed fewer homes to be built per person in the past decade than the regions around nearly every other major U.S. city, including San Francisco, Washington, D.C., and Boston.” (The New York Times)
- Ryan Cohen’s Grand Plans for GameStop Keep Shrinking “Many videogamers now buy and download games directly over the internet, which has cut deeply into GameStop’s store-oriented business. Mr. Cohen’s plan was to boost the company’s online presence and expand its offerings beyond new and used videogames on discs.” (The Wall Street Journal)
- Raft of state bills would boost affordable homes and tenant protections “State lawmakers are pushing legislation to boost production of affordable homes and strengthen tenant protections against evictions and runaway rents.” (The Real Deal)
0 comments
Hide comments
