Commercial Real Estate
Top stories summarized by our editors
9/21/2017

Forest City Realty Trust is selling its 51% stake in its New York City specialty retail properties to its partner in the 12 properties, Madison International. The $1 billion sale is part of the REIT's strategic focus on apartment, office and mixed-use assets in core urban markets.

9/21/2017

It is unclear whether the sale of Forest City's stake in its specialty retail portfolio to partner Madison International is part of the REIT's previously announced decision to explore strategic alternatives, such as an acquisition or merger. "We have to see if the board believes that the current efforts will bear fruit or whether it makes sense to shop the company around," says REIT analyst Paul Adornato.

9/21/2017

As the Federal Reserve starts to unwind its $1.78 trillion mortgage bond portfolio, other players will be stepping up to buy these securities. In particular, mortgage REITs have raised enough cash to buy more than $30 billion worth, according to Bloomberg data.

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Bloomberg
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Federal Reserve, Fed, Bloomberg
9/21/2017

US real estate investment sales reached $103.8 billion in Q2 from $101.2 billion in the previous quarter, according to Real Capital Analytics. The Southeast, Southwest and Western regions saw gains, while sales dropped in the Mid-Atlantic, Midwest and Northeast.

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real estate investment
9/21/2017

Starwood Waypoint and American Homes 4 Rent, which together own 6,000 single-family rental homes in the Houston area, used the scale of their platforms to assist tenants after Hurricane Harvey. "We put together a task force, we communicated, we used our technology and then we prepared," said Starwood Waypoint COO Charles Young.

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CNBC
9/21/2017

InvenTrust Properties Corp. purchased River Oaks, a 275,000-square-foot retail center in Los Angeles, for $115 million. The property features tenants including Target, Big 5 Sporting Goods and ULTA.

9/21/2017

Lamar Station Plaza was purchased in 2014 by Broad Street Realty with a 30% vacancy rate, but it has improved to 10%. The owners of the Lakewood, Colo., shopping center, the longtime home of iconic restaurant Casa Bonita, have added tenants such as Ross Dress for Less and WestFax Brewing Co., while also making renovations.

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The Denver Post
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vacancy rate, Ross Dress
9/21/2017

A private investment group has purchased a 14,820-square-foot Lakemoor, Ill., property featuring a Walgreens for $7.2 million. The Boulder Group represented the seller in the 1031 exchange.

9/21/2017

Reduced sales and e-commerce growth are forcing these 20 retailers to reassess and close stores this year. The list includes Abercrombie & Fitch, American Apparel, J.C. Penney and Macy's.

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Fox Business
9/20/2017

Target has historically avoided playing music in its stores, but a 2011 test at one store revealed customers and employees enjoyed the perk. The retailer has since added the feature at new urban stores and it will now incorporate music at existing locations as part of a massive remodeling project, spokeswoman Kristy Welker said.