National Real Estate Investor


    Outlet Center Development Pushes Forward
    This year, developers plan to open another eight centers totaling 3.2 million sq. ft. And over the next three years, there are 47 outlet center projects planned for a total of 17 million sq. ft.

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    10 Must Reads for the CRE Industry Today (August 28, 2014)
    Office building owner Paramount Group filed papers for a public offering, in what could be the biggest REIT IPO of the year, according to Reuters. U.S. investors have drastically increased their acquisitions of European commercial real estate properties, reports World Property Channel. Dollar General still wants to buy Family Dollar, claims an article in Fortune. These are among today?s must reads for the commercial real estate industry.
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    As Self-Storage Cash Flows Rise, Competition for Assets Compresses Rates
    Both occupancy and rents continue to rise at self-storage properties, particularly as construction is only meeting a fraction of demand, according to market experts.

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    10 Must Reads for the CRE Industry Today (August 27, 2014)
    The North American Securities Administrators Association wants to limit how much money high net worth investors pour into any single non-traded REIT, reports The Wall Street Journal. Regulators also want credit ratings agencies to become more transparent about how they rate CMBS bonds, according to Bloomberg. And investors in casino operators Pinnacle Entertainment and Boyd Gaming Corp. are urging them to spin off their real estate into REITs, according to the Las Vegas Review-Journal. These are among today?s must reads for the commercial real estate industry.
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    Baby Boomers Buoy Florida Retail
    In the coming year investors looking to acquire retail assets in Florida and throughout the sunbelt will begin to target smaller communities, primarily inhabited by retired baby boomers.

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    10 Must Reads for the CRE Industry Today (August 26, 2014)
    J.C. Penney's shares trade higher following an analyst's prediction that its stores will close, reports Dallas Morning News. Burger King's stock jumps unexpectedly following the news of Tim Hortons' acquisition, according to TheStreet.com. And ReJournals.com reports that Harrison Street sells a $283 million multi-state medical office building portfolio. These are among today's must reads for the commercial real estate industry.
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    Top 10 Markets for Student Housing

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    CDOs 2.0 Pique Investor Interest
    The CRE collateralized loan obligation (CLO) is a new syndication structure that has been gaining traction over the past two years. Growing momentum in the niche has been fueled in large part by investors? quest for higher yields.

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    Apartment Developers Overbuild a Few Markets
    Even supercharged demand is unlikely to rescue a few metro areas where the supply of new apartments is growing especially quickly. Most of these construction-crazy metros have something desirable to draw developers, such as strong projected job growth.

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    10 Must Reads for the CRE Industry Today (August 25, 2014)
    Gym operator Life Time Fitness is exploring a REIT conversion, reports Bloomberg. Burger King is in talks to buy Canadian doughnut chain Tim Hortons in a tax inversion deal, according to The Wall Street Journal. Shareholder Engine Capital wants Ann Inc. to put Ann Taylor Stores up for sale, reports New York Times. These are among today?s must reads for the commercial real estate industry.
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    New Jersey Garden Apartments Are Pricing Like Class-A Assets
    Garden apartments have started to fetch premium prices in New Jersey.

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    What Institutional Money Wants in Return as it Continues to Flow to Real Estate
    Pension funds, opportunity funds, hedge funds, and other institutional investors are continuing to turn their attention to real estate in the wake of the recession, particularly as returns on real estate have risen relative to bond yields and real estate proves attractive as a hedge against the risks in the equity markets.

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    What Your Workplace Says About Your Company Culture
    The world?s highest-performing and most innovative companies create physical workspaces that support business goals and culture, foster innovation and collaboration and promote employee retention.

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    Will Congress Slam the Brakes on the Proliferation of Non-Traditional REITs?
    In spite of lawmakers? efforts to stem the tide of corporations seeking REIT status for niche properties, the non-traditional REIT party may go on for some time.

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    10 Must Reads for the CRE Industry Today (August 21, 2014)
    Family Dollar has rejected Dollar General?s $8.9 billion offer in favor of Dollar Tree, reports The New York Times. CMBS lending standards start to slip, forcing Wall Street firms to ?shop around? for good credit ratings, according to Bloomberg. Sam Zell and former partner Gary Garrabrant are shopping for properties in the same emerging markets, reports the Wall Street Journal. These are among today?s must reads for the commercial real estate industry.

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    Retail Cap Rates Hold Steady as Property Fundamentals Improve
    If U.S. Treasuries and corporate bond yields declined, why didn?t retail real estate cap rates follow?

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    10 Must Reads for the CRE Industry Today (August 20, 2014)
    Texas-based private equity shop TPG Capital is reportedly in negotiations to acquire the commercial real estate brokerage and services firm Cassidy Turley. CalPERS' real estate consultant warned pension fund officials must maintain their ?disciplined approach? to underwriting in the ?overheated market.? Staples Inc. will shut about 140 locations this year, part of a store-closing plan announced earlier, as the world?s largest office-supply chain responds to online competition. These are among the 10 must reads from around the commercial real estate sector.
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    Data Centers Face Mid-Year Slump Due to Supply/Demand Imbalance
    A boom in data center development during the past three years has actually overrun the demand today, says Scott Peterson, chief investment officer with San Francisco-based Digital Realty Trust, a data center operator.

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    Can Family Dollar Merger End Wal-Mart?s Supremacy?
    With its two main rivals putting in bids for the retailer and speculation over whether or not Wal-Mart Stores will join the bidding war, Family Dollar has become a hot commodity and a potential straw that may break Wal-Mart?s back.
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    Construction Lenders Look for Opportunities Beyond Multifamily Projects
    The construction boom is spreading to office buildings, industrial projects and even residential condominium projects as top lenders look to add more variety to their balance sheets.

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    10 Must Reads for the CRE Industry Today (August 19, 2014)
    Sales to institutional investors?entities that purchase at least 10 properties in a calendar year accounted for 4.7 percent of all sales of single family homes and condos in the second quarter, the lowest level since the first quarter of 2012. Los Angeles commercial property landlord Evoq Properties Inc. has agreed to be sold for $357.4 million to a group of investors led by Atlas Capital Group of New York. CBRE has begun rolling out its new nationwide Technology & Media Practice. These are among the 10 must reads from around the commercial real estate sector today.
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    Multifamily Vacancy Compression Stalls in the Second Quarter
    The national vacancy rate remained unchanged at 4.1 percent during the second quarter, a potentially worrisome result for those who fret about the near-term future of the apartment sector. As we explain in this column, this is not unexpected, and a moderation in the brisk pace of improvement in fundamentals has been built into our forecasts for some time.

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    10 Must Reads for the CRE Industry Today (August 18, 2014)
    Dollar General said on Monday that it was offering $8.9 billion to buy Family Dollar Stores, in an effort to break up its planned merger with Dollar Tree. The Mall of America's $1.4 billion refinancing deal with lenders Credit Suisse, Wells Fargo and Citibank closed Friday. A small firm that leases the entire Times Square building that SL Green Realty purchased in July for $41.1 million, is refusing to take orders from its new landlord. These are among today?s 10 must reads from around the commercial real estate sector.
    Content Classification:  Curated

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    Are Seniors Being Priced Out of Big Cities?
    Seniors are now more likely to want to retire in a big city, but less likely to be able to afford it.

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    The New Normal of Alternative Lending in CRE Financing
    During the past 25 years, the alternative lending landscape for commercial real estate has evolved from a handful of qualified entities to a wide range of individuals and institutions vying for today?s situational opportunities.

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    Is This The Ultimate Commercial Real Estate Search Tool?
    Thoughts on what an ideal commercial real estate technology tool would look like.

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    Seniors Property Enters Young Crowdfunding Age
    Online investing has grown so successful that it?s starting to hit the seniors housing market, with the first seniors housing project breaking ground this year in Bloomington, Ind., thanks to crowdfunding assistance.

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    Unfinished Business
    Earlier this summer, the Senate passed legislation to extend the Terrorism Risk Insurance Act (TRIA) for an additional seven years by an overwhelmingly positive vote of 93-4. However, it?s a much rougher road to passage in the House, where the Financial Services Committee passed its TRIA bill (H.R. 4871) on June 20 by a more contentious vote of 32-27, one split along party lines.

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    10 Must Reads for the CRE Industry Today (August 15, 2014)
    The current $5.3 billion expansion of the Panama Canal may not be big enough and Panama officials are considering whether to dig a fourth set of locks. Finra is continuing to tack on time to the widely anticipated rule change that would give investors a clearer picture of what it costs to buy shares of nontraded REITs. Citi analyst Rob Buckland has published this diagram of where he thinks we are in the economic cycle and is warning we may be in bubble territory. Many consumers still appear reluctant to open their wallets, according to a mixed batch of retail earnings this week. These are among the 10 must reads for the commercial real estate sector today.
    Content Classification:  Curated

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    It?s Payday for Many Non-Traded REIT Investors
    The non-traded REIT sector has experienced a flurry of liquidity events of late and that activity shows no signs of slowing.

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Jon Hammond, CCIM
Phone: 480-283-3740
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Fax: 866-239-9988
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