Commercial Real Estate
Top stories summarized by our editors
7/18/2019

Fundraising for private equity real estate funds declined noticeably in the second quarter compared to the first three months of the year, according to Preqin. Value-add, opportunistic and debt funds raised the most money at $8.9 billion, $9 billion and $10 billion respectively.

7/18/2019

US multifamily rent growth notched up considerably in June, reversing a months-long trend of slow increases, according to Yardi-Matrix. Average rents are up 2.6% this year, and rents have increased 3.3% on a year-over-year basis.

7/18/2019

Weingarten Realty Investors is on track to sell about $300 million in retail assets this year, less than the $600 million it sold in 2018, says Drew Alexander, president and CEO. "We always look for ways to improve shareholder value, and sometimes selling properties, especially when they're at the bottom of our quality rankings and about NAV, is the right long-term thing," he says.

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Nareit
7/18/2019

Since shifting its portfolio concentration to Hawaii, Alexander & Baldwin has been able to invest more strategically and to better manage its assets, according to Christopher Benjamin, president and CEO. "The investment approach that we're taking is far more strategic than it was when we were investing on the mainland," he says, noting that in Hawaii the REIT is looking for strong assets to which it can add value.

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Nareit
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Alexander & Baldwin
7/18/2019

CBL Properties has sold a 216,000-square-foot shopping center in Madison, Miss., for $31.8 million. The proceeds will be used for debt reduction and redevelopment, says CEO Stephen Lebovitz.

7/18/2019

Despite decreasing mortgage rates, US homebuilding in June slowed for a second consecutive month and the number of building permits fell to a two-year low, the Commerce Department said. Housing completions were at a six-month low, the department said.

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Reuters
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Commerce Department
7/18/2019

Easton Town Center in Columbus, Ohio, will welcome six new retailers as part of a $500 million expansion. The additions include Arhaus Furniture, The Beeline, Forbidden Root Restaurant and Brewery and Ivan Kane's Forty Deuce Cafe & Speakeasy.

7/18/2019

Dillard's has announced store closures at the Oakwood Mall in Enid, Okla., the Mall of the Bluffs in Council Bluffs, Iowa, and Cary Towne Center in North Carolina. The retailer currently anchors Arizona's Pinnacle Hills Promenade, Northwest Arkansas Mall and Park Plaza mall. The retailer closed stores in Boardman, Ohio, and Muskogee, Okla., earlier this year.

7/17/2019

True Value is investing $150 million to revamp its supply chain by shifting to a hub-and-spoke system designed to more efficiently move goods to the more than 4,500 stores and businesses it serves. The hardware wholesaler plans to create spokes that are closer to stores and that will be stocked with faster-moving goods, while larger, central hubs will house off-season goods and products that are less in demand.

7/17/2019

The Federal Deposit Insurance Corp. is proposing a plan that would remove some disclosure requirements for banks reselling residential mortgage-backed securities. FDIC board member Martin Gruenberg opposed the plan saying the requirement fixed one of the problems of the 2008 financial crisis, but FDIC Chair Jelena McWilliams said regulatory requirements are different today.