Publicly listed retail landlords are finding the debt markets welcoming even as retail REIT shares, beset with store closures and the encroachment of e-commerce, have dropped significantly this year. S&P Global Market Intelligence reports that retail REITs have raised $2.65 billion in senior debt in the first eight months of 2017.
Deutsche Bank is focusing aggressively on commercial real estate lending in New York City. In the second quarter it ranked first among project lenders, according to CrediFi.
Vanguard has been granted its request to list active exchange-traded funds by the Securities and Exchange Commission, a decision that could prompt other active managers to make similar offerings. ETFs have been largely focused on index investors, but Vanguard's active ETFs could change that if it shows there is demand for these products.
The number of shared or doubled-up households has continued to increase several years after the housing market began to recover. NAREIT economist Calvin Schnure discusses how the elevated level of shared households represents future demand for apartment rentals, which is likely to support the market even in the face of new construction.
The current bull market for exchange-listed equity REITs has rewarded investors with returns averaging more than 21% per year over the past 8 1/2 years -- but by the standards of previous real estate market cycles, NAREIT's Brad Case says, this one has not even hit its stride yet.
Greystar Growth and Income Fund, a perpetual-life fund led by Greystar Real Estate Partners and affiliates of APG Asset Management NV, GIC and Ivanhoé Cambridge, has closed on its acquisition of Monogram Residential Trust. The transaction has been valued at approximately $4.4 billion.
JLL Hotels and Hospitality Group, the broker handling the sale of New York City's Plaza Hotel on behalf of its majority owner Sahara Group, has received about 50 offers from a range of investors including private-equity firms, foreign governments and other hotel investors. Experts indicate the hotel could fetch more than $500 million.
Houston-based Camden Property Trust has leased 500 apartments in the last 2 1/2 weeks, compared with about 170 apartments between January and August, according to CEO Richard Campo. The REIT's shares are up 4% since Hurricane Harvey.
North Star Mall, thought to be the third enclosed retail space to open in the country, opened its doors 57 years ago Saturday. These photos show how the property looked when it opened and how it has looked through the years.
Walmart will let recipients of the Supplemental Nutrition Assistance Program, also known as food stamps, make online purchases for pickup at five designated stores. SNAP customers will place orders online and pay with their benefit cards when they pick up their purchases.
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