DAILY READS: Feb. 26, 2020

Capital Square and Greystar start an OZ project. CLOs are on fire. Can SanFran owners be charged for vacant storefronts? Here's a batch of other critical content for you to read, listen to or watch.

CRE-CLOs Continue to Mount a Comeback

“They’re back! The market for commercial real estate collateralized loan obligations (CRE-CLOs) evaporated in the wake of the financial crisis. For years volumes in this part of the market chugged along with low levels of activity. But that all changed in 2018 with volume reaching nearly $14 billion, according to Commercial Mortgage Alert. ” Read more
National Real Estate Investor

“(Mayor Bill) de Blasio agreed that the system was unfair, allowing million-dollar homes in Park Slope, Brooklyn, to be taxed less than far more modest properties near Kennedy Airport in Queens. He asked the developers to give him time to fix things, according to two people with direct knowledge of the October 2013 meeting.” Read more
New York Times

Capital Square Launches CSRA/GS Opportunity Zone V to Develop Mixed-Use Multifamily Community with Greystar in Richmond

“Established in 1901, Scott’s Addition is a historic area that is now the City of Richmond’s fastest growing neighborhood and the second-highest performing market with 97.6 percent occupancy, according to Yardi Matrix. Scott’s Addition is a designated opportunity zone with a census tract that stretches across Virginia Commonwealth University and the Carver neighborhood.” Read more

Should San Francisco Tax Owners of Vacant Storefronts? Voters Set to Decide

“Under the measure, championed by Supervisor Aaron Peskin, property owners in the city’s roughly 40 neighborhood commercial districts—including Union Street, Japantown and Haight Street—would have to pay $250 per linear foot of ground-floor retail space that has sat vacant for more than 182 days. That tax would double to $500 the following year and $1,000 annually thereafter.” Read  more

Fifth Wall closes $100M fund to bring online retailers into physical stores

“’What these brands are realizing is that it is so hard to grow online,” Brendan Wallace, founder of the Los Angeles-based Fifth Wall, told the (the Wall Street) Journal. ‘Amazon is the company that destroys brand differentiation rather than augments it.’” Read more
The Real Deal

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