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☆ Real-estate bigwigs harshly punished for illegally discriminating against low-income renters could be a turning point in fair-housing law enforcement
  + stars: | 2022-11-10 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +6 min
Washington, DC, real-estate firms who discriminated against low-income renters face a record fine. The historic settlement in DC could trigger harsher penalties for unfair landlords across the country, two housing experts said. The Section 8 program offers qualifying low-income households vouchers to subsidized rents in buildings not designated as affordable housing. Sedgwick Gardens is an apartment complex that DARO Management used to manage. The same study found that only 15% of DC landlords refused to accept vouchers.
☆ Top Office Developers Hit the Pause Button on New Projects
  + stars: | 2022-11-08 | by ( Peter Grant | ) www.wsj.com   time to read: 1 min
Vornado Realty Trust has begun demolition of Hotel Pennsylvania in Manhattan, but the weak office market may slow plans to replace it with an office building. U.S. real-estate developers are delaying major office projects already under way or in the planning stages, discouraged by high vacancy rates and the reduction in workspace demand resulting from remote work. Some property developers view periods of economic uncertainty and weak office demand as good times to launch new projects. Because large-scale developments tend to take three to five years or longer, developers bet that tenants looking to trade up in office quality will be drawn to modern offices with lots of amenities, just as the economy is gaining steam.
☆ A 32-year-old military veteran who owns 74 rental units breaks down how she's continuing to increase her cash flow in the current real estate market.
  + stars: | 2022-11-03 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +8 min
She's the CEO of the Five Pillars Team, a brokerage team built by veterans to help military members and investors reach their real estate goals, at eXp Realty. In 2017, she had first considered the idea of building a real estate portfolio that could generate an income. However, as demand began to fall due to rising interest rates, she also hit the brakes on this strategy. Normally, when you're scaling a real estate portfolio, any tasks you don't have to do yourself can be delegated, she noted. Although interest rates are higher, buyers have way more power than they had six months to 18 months ago, she said.
☆ The Fed could lay the groundwork for a year end rally in the week ahead
  + stars: | 2022-10-28 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +8 min
The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.
☆ Stocks shrug off tech's troubles as the Street awaits key inflation data next week
  + stars: | 2022-10-28 | by ( Zev Fima | ) www.cnbc.com   time to read: +9 min
The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Kimco Reality stands to gain from Kroger-Albertsons deal, says Kimco CEO
  + stars: | 2022-10-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKimco Reality stands to gain from Kroger-Albertsons deal, says Kimco CEOConor Flynn, CEO of Kimco Realty, joins 'Power Lunch' to discuss Kimco being well positioned to benefit from the Kroger-Albertsons merger, grocery-anchored locations and grocery stores benefiting from consumers shift to home-cooking over eating-out.
☆ Online real-estate investment firm Fundrise is paying way over housing-market value for some build-to-rent communities. Here's why it says it's still a winning strategy.
  + stars: | 2022-10-24 | by ( Alex Nicoll | Lisa Kailai Han | James Rodriguez | ) www.businessinsider.com   time to read: +14 min
Build-to-rent communities skip the intermediary and go straight to the homebuilder. While typical single-family rental strategies, pioneered by Blackstone in the aftermath of the Great Recession, are inherently tied to the housing market, build-to-rent is not. In the eyes of private equity, there's no difference between build-to-rent communities and apartment blocks. If you value Cypress Bay as an apartment building, instead of a collection of homes, Fundrise got a good deal. Fundrise is still working on deals, Miller said, with a deal pipeline stretching out to 2025.
☆ Fire-razed lots in Colorado are going for up to $1.5 million as buyers bet on recovery from a wildfire that destroyed 1,000 homes. The prices signal that the appeal of the mountains still trumps clima
  + stars: | 2022-10-22 | by ( James Rodriguez | ) www.businessinsider.com   time to read: +8 min
In late 2021, a wildfire tore through the Boulder suburbs and destroyed nearly 1,100 homes. Roughly 10 months after that blaze, known as the Marshall Fire, the vast majority of the burned lots remain vacant. "Open space with the ability to build what you want — that really doesn't exist in Boulder County," Jennifer Eiss, a Boulder real-estate agent with Compass, said. The median sale price for Marshall Fire lots that sold in the third quarter was $416,000, according to MLS data. Newer, more-sustainable building methods, combined with an emphasis on protective borders around homes, could help mitigate fire risks, Pechet said.
☆ Kushner Cos. Offers to Buy Rival Real Estate Company
  + stars: | 2022-10-21 | by ( Peter Grant | ) www.wsj.com   time to read: 1 min
Kushner Cos. is making an unsolicited bid for Veris Residential Inc., an owner primarily of New Jersey rental apartments, in a deal that would value Veris at about $4.3 billion including debt, according to a person familiar with the matter. Kushner, best known as Jared Kushner ’s family real-estate company, offered $16 a share for the real-estate investment trust, the person said. The shares of the company, formerly known as Mack-Cali Realty Corp., closed up 0.81% to $12.42 on Thursday.
☆ Data Centers Face Higher Costs, Weaker Demand for Debt That Fueled Sector’s Rise
  + stars: | 2022-10-20 | by ( Kristin Broughton | ) www.wsj.com   time to read: +7 min
The decline in issuance of data-center debt comes as chief financial officers across industries evaluate their funding options amid the Fed’s rate-hike campaign. Within the data-center sector in particular, that calculus for some companies involves assessing whether the timing is right to tap the securitization market despite the higher costs. What’s more, while the data-center sector is much bigger now than it was during the 2007-09 recession, it hasn’t been tested. The securitization market has historically provided Vantage with more money than it has needed to pay down its loans, Mr. Metwalli said. Digital Realty Trust Inc., a publicly traded company in the sector with an investment-grade rating, has avoided the securitization market.
☆ Real-estate investors rush to score deep discounts on Florida properties hammered by Hurricane Ian: 'If they were asking $1 million before the storm, I'll offer $750,000'
  + stars: | 2022-10-20 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +3 min
Real-estate investors are trying to take advantage of the down market by buying properties for less. They seem undeterred by high insurance costs, possibly falling home values, and ever-worse storms. The real-estate market in Florida just doesn't stop. "If they were asking $1 million before the storm, I'll offer $750,000," Lema told The Wall Street Journal. Photo by Ricardo Arduengo/AFP via Getty ImagesStill, it seems many buyers are undeterred by or unaware of insurance costs, future home-value depreciation, and the risk of ever-stronger hurricanes and rising sea levels.
☆ Caesars and developer SL Green pitch Times Square casino plan
  + stars: | 2022-10-20 | by ( Stefan Sykes | ) www.cnbc.com   time to read: +2 min
Developer SL Green Realty is working with casino operator Caesars Entertainment on a bid to bring a casino to New York's Times Square, the companies announced Thursday. The partners said the proposed project would redevelop Times Square building 1515 Broadway into Caesars Palace Times Square, which will include a Broadway theater that will be home to "The Lion King" and other entertainment attractions. They also promised the development would "accelerate economic recovery for surrounding businesses" in Times Square, as well as "create good-paying union jobs for New Yorkers." "We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses. Caesars Palace Times Square will be 100% privately funded, the SL Green and Caesars Entertainment said, with Caesars managing the casino's operation and brand.
☆ Blackstone and Prologis turned warehouses from safe and boring investments into white-hot assets. Now they're battling to see who can own more.
  + stars: | 2022-10-19 | by ( Alex Nicoll | Danielle Walker | Daniel Geiger | ) www.businessinsider.com   time to read: +11 min
In other words, big money is buying up warehouse space as fast as smaller owners can sell. The coronavirus pandemic accelerated this change, with warehouse investment outpacing office investment in 2020 and 2021, according to CBRE. A Prologis warehouse in Ichikawa City, Japan. Prologis, Blackstone, and the rest of big money duke it outOther big-money investors have increasingly invested in warehouses. The UK's Segro once sold warehouse space to Blackstone — now it's acquiring its own warehouses for last-mile delivery that Blackstone might have otherwise picked up for itself.
☆ INDIA STOCKS Indian shares decline as metal stocks weigh
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Oct 17 (Reuters) - Indian shares fell in early trading on Monday, dragged down by metal stocks and in line with Asian peers amid growing fears that aggressive rate hikes by central banks globally would lead to a slowdown and weigh on corporate earnings. The NSE Nifty 50 index (.NSEI) was 0.15% lower at 17,159.30 as of 0352 GMT, and the S&P BSE Sensex (.BSESN) fell 0.19% to 57,808.78. Nifty's metal (.NIFTYMET) and realty (.NIFTYREAL) sub-indexes were among the top losers, falling more than 1% each. Among other stocks, Shree Cement Ltd (SHCM.NS) fell 5% after it posted a 67.2% slump in second-quarter profit as fuel costs surged. ($1 = 82.4000 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Rama Venkat in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
☆ In Pennsylvania, an American Colonial-Inspired Home Asks $7.5 Million
  + stars: | 2022-10-14 | by ( Sarah Paynter | ) www.wsj.com   time to read: 1 min
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. An American Colonial-inspired southern Pennsylvania home is listing for $7.5 million, a price that could set a local record, said listing agent Karen Starr of Coldwell Banker Realty.
☆ Real estate is local and it does matter where you are, says Federal Realty CEO Don Wood
  + stars: | 2022-10-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReal estate is local and it does matter where you are, says Federal Realty CEO Don WoodFederal Realty CEO Don Wood joins 'The Exchange' to discuss how Federal Realty's New Jersey offices are 100% full, whether retail offices are dying, and potential tailwinds for the real estate market.
☆ A Nashville-Area Property Once Owned by Tim McGraw and Faith Hill to List for $16.5 Million
  + stars: | 2022-10-11 | by ( Sarah Paynter | ) www.wsj.com   time to read: 1 min
A Nashville-area property once owned by married country stars Tim McGraw and Faith Hill is listing for $16.5 million. The roughly 130-acre property is about 30 miles southwest of Nashville, according to listing agent Steve Fridrich of Fridrich & Clark Realty. Before selling to the current owners, it was part of a roughly 750-acre farm owned by Mr. McGraw and Ms. Hill, all of which they have since sold, according to records. A representative for Mr. McGraw and Ms. Hill declined to comment.
☆ A $29.75 Million Home With Mountain Views Looks to Break North Carolina’s Residential Record
  + stars: | 2022-10-10 | by ( Sarah Paynter | ) www.wsj.com   time to read: 1 min
A North Carolina house asking $29.75 million will be the state’s most expensive listing, according to listing agent Marilyn Wright of Premier Sotheby’s International Realty. Located in a gated community in Avery County, about 70 miles northeast of Asheville, the five-bedroom house spans approximately 8,750 square feet. North Carolina’s priciest residential sales thus far have topped out at about $10 million, according to Premier Sotheby’s.
☆ Blackstone converts Indian property to safe haven
  + stars: | 2022-10-06 | by ( Una Galani | ) www.reuters.com   time to read: +3 min
MUMBAI, Oct 6 (Reuters Breakingviews) - A global downturn could boost demand for Indian real estate. The investor-cum-landlord led by Steve Schwarzman has played a big role in developing a local market for real estate investment trusts. Now it’s preparing to float a collection of glitzy shopping malls in what would be only the country’s fourth publicly traded REIT. Indian real estate trusts outperform U.S. peersFollow @ugalani on Twitter(The author is a Reuters Breakingviews columnist. On Sept. 27, Blackstone raised $325 million from selling an 8.1% stake in Embassy Office Parks REIT, per IFR.
☆ Stocks making the biggest moves midday: Wynn Resorts, Planet Fitness, AMC, Lyft and more
  + stars: | 2022-09-26 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
An exterior view shows Encore Las Vegas (L) and Wynn Las Vegas as the coronavirus continues to spread across the United States on March 15, 2020 in Las Vegas, Nevada. Las Vegas Sands, Wynn Resorts — Shares of the casino operators both soared about 11% after Macao announced its plan to allow Chinese tour groups back in the casinos as soon as November. Chegg — Shares of the educational tech company jumped more than 6% after Needham upgraded the company to a buy rating from hold. Planet Fitness - The gym stock jumped 2% after Raymond James upgraded Planet Fitness to strong buy from market perform. Lyft – Shares of the ride hailing company fell about 3% after UBS downgraded the stock to neutral from a buy.
☆ Chinese Firms Flee U.S. Commercial Real-Estate Market After Big Property Bets Sour
  + stars: | 2022-09-20 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
SL Green Realty Corp. recently took over Manhattan office tower 245 Park Avenue from an affiliate of Chinese conglomerate HNA Group Co.Chinese firms for years were among the most aggressive buyers of U.S. luxury hotels, office towers and other commercial real estate. Now they are running for the exits. Chinese companies have sold a net $23.6 billion of U.S. commercial properties since the start of 2019, according to data provider MSCI Real Assets. That marks a dramatic turnaround. Between 2013 and 2018, Chinese firms were net buyers of nearly $52 billion of U.S. commercial properties, according to MSCI.
☆ In Charlotte, a 17,000-Square-Foot Spread With 13 Live-Work Units Asks $12.9 Million
  + stars: | 2022-09-19 | by ( Sarah Paynter | ) www.wsj.com   time to read: 1 min
A roughly 17,000-square-foot spread in a Charlotte, N.C., condominium is going on the market for $12.9 million, making it the city’s most expensive listing on the local multiple listing service, according to listing agent Hanes Walker of Premier Sotheby’s International Realty. The offering includes 13 live-work condo units in a converted 1920s factory building near uptown Charlotte, Mr. Walker said. The owners are Jeffrey Gitomer , author of 17 books including the 2004 bestseller “The Little Red Book of Selling,” and his wife, sales coach Jennifer Gitomer.
☆ Slack’s Stewart Butterfield and Away’s Jen Rubio List San Francisco Victorian for $19.8 Million
  + stars: | 2022-09-19 | by ( Katherine Clarke | ) www.wsj.com   time to read: 1 min
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Slack’s Stewart Butterfield and his wife, Away co-founder Jen Rubio , are listing their San Francisco Victorian for $19.8 million, according to listing agency Sotheby’s International Realty.
☆ Wall Street's favorite stable stocks include a health care name that can rally nearly 60%
  + stars: | 2022-09-18 | by ( Fred Imbert | ) www.cnbc.com   time to read: +3 min
With this in mind, CNBC Pro set out to find Wall Street's favorite stable stocks. If a stock has a beta of less than 1, it tends to be less volatile than the broader market. Health care names Bio-Rad Laboratories and Zoetis have the highest potential upside of any stock on the list, FactSet data shows. The tech giant has a five-year beta of 0.94 and has buy ratings from 82% of analysts covering it. The video game maker has a five-year beta of 0.76 and has buy ratings from 55% of analysts covering it.
☆ SL Green Realty CEO: There's tremendous demand for luxury real estate in New York
  + stars: | 2022-09-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSL Green Realty CEO: There's tremendous demand for luxury real estate in New YorkSL Green CEO Marc Holliday and SL Green culinary partner Chef Daniel Boulud, join 'Closing Bell: Overtime' to discuss SL Green's big New York City project.
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