Commercial Real Estate
Top stories summarized by our editors
2/20/2019

SoftBank led a $200 million funding round for Clutter, a startup trying to disrupt the $38 billion US storage market. The round brings Clutter's valuation to $600 million.

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CNBC
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Softbank
2/20/2019

Merger and acquisition experts think REIT transactions in this area in 2019 will match or exceed the volume of deals seen in 2018. "There are many investors and a great deal of capital waiting for the right time with values, cap rates and so forth," said Greg Ross, a national managing partner at Grant Thornton.

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Grant Thornton LLP
2/20/2019

Real estate investment trusts are a good way for investors to diversify a portfolio that may be heavy on stocks and bonds, writes Miranda Marquit. REITs have a low correlation to stocks and bonds and offer dividends to investors.

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Miranda Marquit
2/20/2019

A Securities and Exchange Commission filing confirmed reports that Carl Icahn has taken a 9.8% stake in Caesars Entertainment and wants the company to explore a sale. Icahn believes the casino operator's stock is undervalued, according to the filing, and plans "to have discussions with other stockholders to understand their perspectives and priorities."

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CNBC
2/20/2019

AvalonBay Communities takes its governance operations seriously, given the importance of this area to investors, said Mark Delisi, the REIT's vice president for corporate responsibility. As for its overall environmental, sustainability and governance initiatives, the REIT has found the social piece harder to quantify and show the value of, he said, but he added it's "a key differentiator for us in terms of talent attraction and retention."

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Nareit
2/20/2019

Host Hotels & Resorts has acquired 1 Hotel South Beach in Miami Beach, Fla., for $610 million, or $1.42 million a key. Starwood Capital Group and LeFrak were the sellers of the 429-room property.

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GlobeSt
2/20/2019

Amazon reported a 6% dip in the amount of brick-and-mortar store space under its control, despite growth in its banners, including Whole Foods Market and Amazon Go. The difference is likely due to a change in reporting -- the company says it no longer includes projects under development.

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CNBC
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Amazon
2/20/2019

Charlotte Russe is still hunting for a buyer to operate its stores, but the company is also preparing to liquidate and close its doors if no suitors come through. The fashion retailer filed for bankruptcy protection earlier this month, and on Tuesday it filed papers outlining a stalking horse bid by two liquidation firms.

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Charlotte Russe
2/20/2019

Bills are progressing through Hawaii's legislature that would tax corporate businesses that are now exempt, including REITs. Critics and proponents have lined up to debate the measures, with Mits Fujimura, who represents Nareit, pointing out that hotel REITs already pay double general excise taxes as property owners and hotel operators.

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Hawaii Public Radio
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legislature
2/20/2019

The long-planned 13-acre Adelanto Towne Center in California will see construction start in April for a 7-Eleven. Several additional phases are planned, with a footprint of 63,400 square feet across 10 buildings.