- New Law to Curb Money Laundering Has Real Estate Concerned “A new law set to stymie anonymous investments in real estate has industry groups and attorneys worried that the change will chill market activity and unduly burden buyers. Proponents, however, say it’s long overdue. Setting up a limited liability company to purchase real estate anonymously was, until fairly recently, one of the favorite ways for folks up to no good to launder their money to remove the stigma of ill-gotten gains.” (Commercial Observer)
- Multifamily’s Trillion-Dollar Tango “Multifamily lenders and policymakers have taken much the same approach with evictions and mounting debt during the pandemic: Put things off and hope the rental market’s problems resolve themselves before it’s too late. That strategy persists as vaccinations ramp up. But with a surge in Covid cases, restrictions on economic activity and evictions could continue for months.” (The Real Deal)
- CMBS Market: More Stable Than You’d Think, But Still Volatile in First Half of 2021 “CMBS is performing better than expected, but will remain volatile until the second half of 2021, Fitch says.” (Bisnow)
- Amazon Unveils Outdoorsy New HQ2, Renewing its Commitment to Offices “Amazon. com Inc.’s plans for its new northern Virginia headquarters feature an outdoor theme, the latest sign that big tech companies are getting more creative with office space rather than abandoning it. Phase two of the company’s development in Arlington, Va., calls for three 22-story office buildings and smaller retail buildings surrounded by woodlands, an outdoor amphitheater, a dog run and parking for around 950 bicycles.” (Wall Street Journal)
- CRE and Lodging Landscapes Post-COVID: Conversation with JLL’s Ryan Severino, Michael Huth “MBA’s Andrew Foster recently spoke with Ryan Severino and Michael Huth of JLL on the outlook for commercial real estate and in particular, the hotel/lodging sector in a post-coronavirus environment.” (Mortgage Bankers Association)
- McDonald’s Plans to Open 500 U.S. Restaurants in 2021 “During its recent Q4 earnings call, McDonald's announced plans to open about 500 new restaurants in the U.S., part of a bigger plan to open more than 1,300 new locations around the world. During the call, CFO Kevin Ozan said the company will spend nearly half of its $2.3 billion of capital to open those restaurants, calling new restaurant development an ‘important driver of our growth.’” (Restaurant Dive)
- Ventas Nails Down $2.8B Unsecured Credit Facility “Ventas Inc. has closed a new four-year, $2.75 billion unsecured credit facility. With support from a total of 24 new and incumbent financial institutions, the credit facility reportedly was substantially oversubscribed. The transaction reinforces the company’s ample liquidity, while extending its debt maturities and improving its borrowing costs, according to a prepared statement by Robert Probst, Ventas executive vice president & CFO.” (Commercial Property Executive)
- Tampa Hotels Hope Super Bowl Won’t Be a Super Bust “The Super Bowl usually has one guaranteed winner: the host city’s hotel owners. But this Sunday, hotels in the Tampa, Fla., area are hoping not to feel like losers. When the National Football League awarded Super Bowl LV to Tampa in 2017, it was like hitting the jackpot for local hotels, bars and restaurants. Many host city hotels count on Super Bowl weekend to help make their year. Hotel owners can typically raise room rates by at least 50% above the seasonal norm as football fans vie for a place to stay.” (Wall Street Journal)
- ‘One Property at a Time’: A City Tries to Revive without Gentrifying “Construction workers in the South Ward of Newark, one of New Jersey’s most distressed areas, are busy converting a long-abandoned bank into an apartment building and poets cafe. A decrepit mansion in the Central Ward built by a Newark beer baron before the turn of the 20th century is being revamped as a “makerhood,” a first-of-its-kind co-working residential and retail space.” (The New York Times)
- Kitchen United and Westfield Team Up to Bring Ghost Kitchen Tech to Mall “Looking to offset dwindling foot traffic and dining restrictions brought on by the pandemic, Westfield Valley Fair mall in Santa Clara, California has teamed up with Kitchen United to help diners order food to go. Eateries at Westfield Valley Fair will be able to use Kitchen United’s technology to facilitate to-go orders and send the food to lockers for pickup or delivery from the mall’s ground floor.” (CNBC)
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