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The retail real estate industry has undeniably witnessed significant changes and a constant transformation within the past several years. As one of the hardest-hit sectors in the commercial property field, due to economic headwinds and the industry’s natural evolution, retail real estate has recently experienced a healthy resurgence. Considering the recurrent retail closures in the
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Photo by Shutterstock Chicago—Locally-based Quantum Real Estate Advisors recently closed a $70 million portfolio that consisted of three single-tenant Walmart Supercenters and one Home Depot Home Improvement store. The transaction comes as retail leaves behind a brutish 2019 that saw 9,300 store closings, according to Coresight—a record year that was up more than 50% from
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Photo by Shutterstock FT WORTH, TEXAS—Pier 1 is reportedly preparing to file for bankruptcy and is planning to cut 40% of its staff, according to various news reports. The retailer has announced it will close up to 450 outlets, or nearly half of its stores, as well close certain distribution centers. It also warned about
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NEW YORK—Net-lease REIT W.P. Carey has closed about $410 million in deals for the fourth quarter, a number that includes six investments totaling $282 million and more than 2.7 million square feet. For the full year, the REIT has closed about $870 million in transactions. Gino Sabatini, W.P. Carey’s head of Investments, notes that the
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Peter Weinberg, CEO of WeWork-advisor Perella Weinberg, told CNBC on Monday that the office-sharing company’s tumultuous 2019 does not discount the fact that the fundamental business is strong. “Having gotten so involved in this, the core of the business is a really, really good business,” Weinberg said in a “Squawk Box” interview. From onset of 2019, WeWork,
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Banks could be slipping into old bad habits. Last year, as interest rates fell, banks started to loosen underwriting standards reminiscent of the last cycle—the kinds of missteps that ultimately led to the great recession. This includes high loan-to-value ratios as well as skipping essential steps, like income verification. “The banks are starting to get
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In a recent interview, RH chairman and CEO Gary Friedman said, “It wasn’t the internet that killed retail stores; it was a lack of imagination and investment.” Many retail brands are feeling the pressure of creating a unique and innovative experience to survive. Restaurants seem to be the answer. Retailers like RH—formerly Restoration Hardware—are using
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Bloomberg | Getty Images The average rate on the U.S. 30-year fixed mortgage is now at the lowest level in a month, thanks to a run on the bond market overnight. Investors fled to the relative safety of bonds, after the U.S. confirmed an airstrike on Iran’s highest military commander. While mortgage rates are determined
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With more than 346 Opportunity Zone funds, it may be difficult for an investor to choose the right property. AUSTIN, TX—Realized, a tech platform that provides investment property wealth management, recently introduced its Qualified Opportunity Zone marketplace. The marketplace is a new platform that allows investors to compare Qualified Opportunity Zone/QOZ investments and provide greater
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Photo by Shutterstock New York, NY—Increasingly startup proptech companies are implementing revenue-sharing agreements with a landlord in lieu of rent by building out amenities that tenants want in the building. The end result is a revamped building designed to meet the current demand for such services that cost the landlord relatively little. Indeed, landlords benefit
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11 Mins Ago Singapore has emerged as the top investment prospect for property in Asia Pacific, according to a new report from PwC and the Urban Land Institute. This is no mean feat for the land-scarce country, which has experienced several subpar years, ranking as low as 21 in 2017. CNBC’s Nessa Anwar visits the
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Steve Kitzke As we look ahead to a new year, and commercial real estate enters the late stages of the current cycle, transaction volume is cooling slightly, and there has been a greater focus on smaller deals being done (by $ size and volume), especially in the still-robust secondary markets. Overall industry sentiment remains optimistic,
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Photo by Shutterstock BOSTON—After raising $34.25 million in Series B financing, Chase Garbarino, CEO of tenant experience platform HqO, is geared up for growth. HqO will use this capital to expand its technology, double its engineering team and grow sales and business operations to accelerate national and international expansion. In recent months, the company has
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CHICAGO, IL—With the overbuilding of senior housing and low occupancy levels, developers are now readjusting their expectations as they respond to sagging demand from older generations. There are ramifications for this in both the short and long term. Short Term First, US demographic trends going into 2020 indicate that senior housing occupancy levels still won’t
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NEW YORK CITY – Data has become more important than ever for retail investors trying to compete and remain relevant amid changing consumer demands for brick and mortar and e-commerce shopping platforms, Meghann Martindale, CBRE’s global head of retail research, tells GlobeSt.com. The commercial real estate services firm is actively bulking up its retail research to
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Photo by Shutterstock BROOKFIELD, WI—Investment manager MLG Capital has acquired a Class B portfolio of ten multifamily assets containing 2,700-plus units. The portfolio is located across the Southwest Sunbelt region in Houston, Texas, Tulsa, Okla., and Oklahoma City. The price was not disclosed. Diversified private equity real estate funds and a co-investment entity, all managed
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Billionaire candidate Mike Bloomberg’s presidential campaign may not be taking money from some of the most influential Democratic donors on Wall Street, but he is working hard to convince them he has a path to win the nomination. Bloomberg and his team made their pitch Dec. 19 to at least 90 attendees, including many New
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