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Month: July 2020

Congress pitches relief to struggling hotel, mall CMBS borrowers

Congressman Al Lawson and Van Taylor (Lawson by Bill Clark/CQ-Roll Call, Inc via Getty Images; Taylor by Thomas McKinless/CQ Roll Call) A bipartisan bill introduced in Congress on Wednesday is intended as a lifeline for hotel and ...

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  • 30 Jul
  • The Real Deal
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Brookfield, creditors reach deal on REIT’s $6.4B credit facility

Brookfield Asset Management has renegotiated a $6.4 billion credit facility for its retail-heavy real estate investment trust, Brookfield Property REIT. The deal imposes restrictions on dividends and requires other Brookfield Asset ...

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  • 30 Jul
  • The Real Deal
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Welcome to a world of the à la carte retail lease

“Our role as owner is shifting from what was solely ‘the librarian’ — collecting rent, renting shops and cleaning spaces — to becoming an ‘editor’ of the space.” (iStock) In sickness and in health, till short-term, revenue-adjusted ...

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  • 30 Jul
  • The Real Deal
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Bezos buys Beverly Hills bungalow next to his massive mansion

Jeff Bezos and the Beverly Hills home (Getty, Realtor) Jeff Bezos has scooped up a Beverly Hills home next door to the 10-acre estate he bought from David Geffen for a record $165 million in February. Amazon’s founder and CEO paid $10 ...

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  • 30 Jul
  • The Real Deal
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Blackstone eyes new 1M sf NYC headquarters

Blackstone’s Jonathan Gray and a rendering of 350 Park (Blackstone, Vornado) The Blackstone Group is mulling options for a new headquarters in New York City as large as 1 million square feet, sources told The Real Deal. The investment ...

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  • 29 Jul
  • The Real Deal
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NAR pockets win in resi listings antitrust case

NAR CEO Bob Goldberg (iStock) Top Agent Network has another shot to legally thwart the National Association of Realtors’ “pocket listings” ban even after a major setback in their case. San Francisco federal judge Vince Chhabria granted ...

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  • 29 Jul
  • The Real Deal
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Unibail-Rodamco sees 15% decline in US mall rents after offering deferrals

Unibail-Rodamco-Westfield CEO Christophe Cuvillier, Westfield Century City in Los Angeles and Westfield World Trade Center in New York (Getty, iStock, Google Maps) While operations at Unibail-Rodamco-Westfield’s European holdings are ...

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  • 29 Jul
  • The Real Deal
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Desperate hotel owners selling at discounts up to 30%

Hutton Hotel in Nashville and The Jewel Runaway Bay Beach Resort & Waterpark in Jamaica (Hutton, Booking) Cash-strapped hotel owners are selling properties at discounts and agreeing to sky-high interest rates with federal aid ...

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  • 29 Jul
  • The Real Deal
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Sam Zell’s Equity Residential sees profits drop 15%

Equity Residential chairman Sam Zell and CEO Mark Parrell (right) (Getty, iStock) Sam Zell’s Equity Residential has tried to maintain occupancy rates since the pandemic swept the nation, but despite efforts, the company’s ...

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  • 29 Jul
  • The Real Deal
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AOC seeks to block Trump’s recent effort to roll back fair housing rule

New York Rep. Alexandria Ocasio-Cortez, President Donald Trump and HUD Secretary Ben Carson (Getty) New York Rep. Alexandria Ocasio-Cortez is working to defund the Trump administration’s proposed fair housing rules before they even get ...

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  • 29 Jul
  • The Real Deal
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