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Contractors raise a wall while working on a new home under construction in Dublin, California. David Paul Morris | Bloomberg | Getty Images U.S. homebuilders are loving today’s lower mortgage rates, which are bringing buyers back and boosting sales. Builder confidence in the single-family market jumped three points in October to 71 on the National
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Anthony LoPinto When “baby-boomer” parents were in the workforce, the corporate funded pension plan was the key to a comfortable retirement. Alas, most companies abandoned pension plans and replaced them with 401K’s. The only wrinkle was and is that the employee funds the plan, hopefully, but not necessarily, supplemented by the employer. There are very
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Photo by Shutterstock. HOUSTON—Without a doubt, the US economy is sending mixed messages about its health. On one hand, the job market remains robust despite September’s lackluster numbers. (US payrolls only added 136,000 jobs, underperforming economists’ expectations, but the unemployment rate fell to fell to 3.5%, a 50-year low). On the other hand, US manufacturing
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Mark Tritton, president, CEO, Bed Bath & Beyond UNION, NJ—Struggling retailer Bed Beth & Beyond has ended its search and named Target EVP Mark J. Tritton as its new president and CEO. Tritton, a 30-year retail executive, will replace interim Bed Bath & Beyond CEO Mary Winston effective Nov.4. He will also serve on the
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Graham Carpenter ➤➤ Join the GlobeSt.APARTMENTS (formerly RealShare) conference October 29-30 in Los Angeles. The event will analyze the opportunity in the emerging trends and conditions of the multifamily market. Don’t miss out on joining the 1000+ of the industry’s top owners, investors, developers, brokers and financiers as they gather for THE MULTIFAMILY EVENT OF
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Photo by Shutterstock. My business partner’s friend recently needed a place to work with WiFi for a few hours in Midtown Manhattan. She saw a WeWork building, wandered in, found a work space, and did what she had to do. Nobody bothered her as other itinerants shuffled in and out. She thought about grabbing a
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Pedestrians pass in front of the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images The Great Recession has officially been over for a decade. For many Americans, there’s little reason to celebrate. Many people’s finances haven’t recovered from the recession’s blows, according to a survey by personal finance website Bankrate.com. “There are
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Ken Riggs NEW YORK—The WeWork (We) saga is casting a shadow over all corners of the globe, and its problems are landing squarely on the foundations of commercial real estate. Investors, especially landlords and CRE investors, are on their heels as they finally pull back the curtain on We and discover whether a wizard had
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Photo by Shutterstock. LOS ANGELES—Boston Fed President Eric Rosengren worries about the impact co-working office space could have on the commercial real estate sector and is not reticent about his opinion. Three weeks ago, he told the audience at an event in New York City that evolving market models, along with low interest rates, are
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Blackstone’s headquarters in Midtown Manhattan NEW YORK—Blackstone has sold a 100-asset industrial portfolio valued at $3 billion to Nuveen Real Estate. The 29-million square foot portfolio is comprised of urban infill, light industrial and bulk logistics assets and is spread across 12 markets. The assets are concentrated in the Southern California, Northern New Jersey, Dallas,
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Fort Myers, Florida. Philippe TURPIN | Photononstop | Getty Images There’s no place like home. Unless, of course, you are retired. Lured by better weather, lower taxes or an improved quality of life, many older Americans consider relocating to stateS like Florida or the Carolinas. To that end, U.S. News & World Report determined the
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Photo by Shutterstock. CEDARHURST, NY—Postal Realty Trust, a recently-launched REIT that solely focuses on properties leased to the US Postal Service, has struck several deals with various sellers to acquire a 113-asset portfolio for $31 million. The 270,000-square foot portfolio has a weighted average rent of $9.75 per square foot and a weighted average remaining
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Midtown South NEW YORK CITY- Tech companies hungry for large blocks of office space are piling into Midtown, shifting away from the Flatiron District’s favored tech hub In Midtown South because of a space crunch, according to a new office study from Savills. “Tenants want to be in high-quality space, there is still a war for
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Photo by Shutterstock NEW YORK—Greystone has provided $96 million in total HUD-insured financing on a portfolio of 11 Kentucky skilled nursing facilities, totaling 1,122 beds. The 11 separate FHA loans, ranging from $3.6 million to $14.5 million, carry 35-year terms and 35-year amortizations. They have refinanced a bridge loan provided by Greystone for the acquisition
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A couple sits with a mortgage consultant in Miami. Getty Images There is growing support for the idea that artificial intelligence can help remove human bias from situations where institutional discrimination has persisted for decades. California recently passed a fair hiring resolution to encourage the development and use of algorithm-based technologies in job hiring decisions.
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Piccadilly Circus in London’s West End. LONDON—With all of the political turmoil and financial turmoil surrounding the United Kingdom with its impending departure from the European Union, you would expect investment in London to crater. But that’s not the case according to the latest 2019 DLA Piper Annual State of the Market Survey. In the
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Photo by Shutterstock ➤➤ Join the GlobeSt.HEALTHCARE (formerly RealShare) conference December 3-4 in Scottsdale, AZ. The event will cover the industry’s major issues as well as the prevailing and upcoming trends in regulations, space use, budgeting, and technology implementation. Through panel discussions and peer-to-peer networking opportunities, the attendees will gather expert insights on how these
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