2014 shows promise for commercial real estate, and how mergers are reshaping the lending landscape
Dec 13, 2013
Here are the news stories you might have missed this week:
GlobeSt.com: Experts looking forward to promising 2014
The year ahead is looking bright for the real estate industry according to a recent study conducted by the Urban Land Institute and PwC. From increasing investments in secondary markets to growing demand for healthcare properties, experts project real estate recovery to gain momentum in 2014. For more findings and predictions, visit GlobeSt.com.
The Wall Street Journal: Denver’s office market wakes up
While a traditionally slow office market, Denver’s recent rise in rent and occupancy rates have caught investor attention, sparking new regional growth among the commercial real estate sector. With tepid national recovery, large investors are looking beyond top-tier markets and targeting secondary cities like Denver for new investment opportunities, such as the recent purchase of the Denver City Center office towers by a Shorenstein Properties fund. To learn more about Denver’s office market, visit WSJ.com
The New York Times: Modern makeover for Wrigley Building, long a hallmark of Chicago’s skyline
The iconic Wrigley Building’s $70 million renovation is nearly complete, marking a new era for Chicago’s Magnificent Mile. Developers have expanded the city’s retail district by adding nearly 65,000 square-feet of retail space to the first and second floors of the building, with several retail tenants already leased in the new space. Read more about the Wrigley Building’s new developments at NYTimes.com.
CoStar: Mergers reshaping major players in CRE lending
Commercial real estate lenders have turned to mergers and acquisitions (M&A) as a simple method to expand their national loan portfolios. While M&A deals offer an easy route to expanding into new geographies, lenders have recently sought out deals in an effort to grow their multifamily portfolios. Visit CoStar.com to learn more.