Carter Validus Mission Critical REIT II has acquired a data center in San Jose, Calif., for $49.15 million and a behavioral health facility in Katy, Texas, for about $15.3 million.
Cottonwood Multifamily REIT II has acquired Parc Westborough in Westborough, Mass., with a co-investment from Cottonwood Residential. The private REIT bought the 249-unit multifamily apartment community for $65.5 million.
Griffin Capital Essential Asset REIT II has completed refinancing to raise its credit facility to $750 million. The refinancing "extends the maturity, lowers financing costs and provides us with ongoing flexibility and access to more than $200 million of undrawn borrowing capacity as of the closing date, soundly positioning us for continued growth," said Javier Bitar, the chief financial officer of the publicly registered nontraded REIT.
The US Supreme Court's June 21 decision holding that states can collect sales taxes from retailers that don't have a physical presence there could mean online retailers will be required to post a sales tax bond. States that require brick-and-mortar retailers to obtain a sales tax bond could extend the requirement to online retailers.
Federal Reserve Chairman Jerome Powell said that with inflation close to a 2% target and with unemployment low, the central bank will probably keep gradually increasing interest rates. Powell told Congress raising rates too slowly could result in high inflation, while adjusting them too quickly could weaken the economy.
An uptick in debt for Federal PLUS Loans for Parents is a result of students turning to their parents for help after having borrowed the maximum amount, suggests Mark Kantrowitz of Saving for College, who analyzed data from the National Postsecondary Student Aid Study. The limit for federal Stafford loans was reached by 40.3% of students in the 2015-16 academic year, up 1 percentage point from four years prior.
Many pre-retirees surveyed are saving less than 10% of their income, State Street Global Advisors found in a recent study of retirement in eight countries, including the US. The report found a high likelihood that many people will outlive their retirement savings but noted that younger people have accepted that lengthier life spans may require them to work longer.
Although the US economy is performing well, wage disparity continues to be a problem, writes Sen. Bernie Sanders, I-Vt. Many American workers are still unable "to afford childcare, send their kids to college or put aside enough money for a decent retirement," Sanders writes.
Succession planning can be a challenge for a financial-planning firm that relies on a single lead advisor to approve most client-focused decisions, writes certified financial planner Carolyn McClanahan. An ensemble model, in which advisors are cross-trained, makes for a team clients can depend on, she suggests.
A survey by Personal Capital showed 40% of women have no retirement savings compared with 33% of men, even though a higher percentage of women said they believe a secure retirement occurs by sticking to a strict financial plan. Personal Capital's Michelle Brownstein said this disconnect could be behavioral, as women tend to prioritize family needs.