Friday means it’s time for our CRE news articles round up! This week we found how China’s Q1 went, the largest landlord loses a few billion, shell companies shaping real estate, 650 jobs moving, and so much more. See the 10 CRE news articles below to get a better all around view of the industry:
1. China’s economy shows signs of improvement in Q1 – Li said the overall economic situation was better than expected and he was confident the government would be able to maintain medium- to high-speed economic growth, despite the difficulties. (Reuters)
2. Goldman Sachs Resolves U.S. Mortgage Probe for $5.1 Billion – Monday’s resolution is the fifth multibillion-dollar settlement reached with U.S. banks resulting from the government’s push to hold Wall Street firms to account for creating and selling subprime mortgage bonds that helped spur the 2008 financial crisis. (Bloomberg)
3. WaterWalk Capitalized On Greater Demand For Corporate Housing – The hybrid hotel-apartment company has had great success with its first site in Wichita, and says that bodes well for new sites where it will start construction this year. (GlobeSt.com)
4. World’s Largest Landlord Loses Another $3B In Market Value – 2016 kicked off with a bout of economic turmoil following a disastrous Q4 for private equity giant Blackstone, which saw profits drop by 70% in Q4 ’15. (Bisnow)
5. ABODO: Markets with the Most Dramatic Month-Over-Month Rent Hikes – Rents continue to climb to historic highs, and smaller markets are seeing a boost in price as residents move out of ultra-expensive major metros. (Multifamily Executive)
6. U.S. Office National Vacancy Rate Upticks in Early 2016 – The slight rise in the national vacancy rate was fueled by significant new supply coming to certain markets including Boston, Washington D.C., Dallas and Orange County. Compounding that issue, Washington had negative absorption and Dallas only modest absorption, trailing this new supply. (World Property Journal)
7. How secretive shell companies shape the U.S. real estate market – But in guarding privacy, shell companies also help obscure the ownership information that law enforcement need to fight crime. And that opens the U.S. property market to the kind of nefarious activity highlighted by the Panama Papers – money laundering, drug trafficking and corruption. (The Washington Post)
8. Walmart Expands Pickup Service As Amazon Grocery Fight Heats Up – The largest U.S. retailer and grocer with 2015 food sales of some $165 billion, has not tried to take on rivals like Amazon, Google, and smaller companies like Instacart and Postmates directly with grocery delivery to shoppers’ homes. Instead, Walmart has opted to use its fleet of stores to allow free same-day pick up of food orders placed on its website before 10 a.m. (Fortune)
9. Open Platform Helps CRE Professionals Find Trusted Solutions – How great would it be if there was a platform that allowed anyone to search for commercial real estate technology solutions to help them improve their business or their building? What if it were an open database that allowed startups to add their company details and users to write reviews? I’m excited to announce that the open directory of CREtech companies is now a real thing. (CRE.TECH)
10. Equifax to bring 650 jobs to Midtown – The intown expansion, dubbed “Project Locomotive” in economic development circles, adds a patina of credibility to Midtown’s reputation as a fintech hub. The tech-centric office submarket, historically home to fintech startups such as Kabbage, has had recent success in luring the headquarters of NCR Corp. (NYSE: NCR) and Worldpay US. (Atlanta Business Chronicle)
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