DAILY READS: Jan. 28, 2020
The decreasing demand for parking. How real estate lags behind in female board members. Can San Francisco stop Veritas' big sale? Here's a batch of other critical content for you to read, listen to or watch.
SF’s Largest Landlord Selling Thousands of Rent-Controlled Apartments
“On Monday, city lawmakers, led by Supervisor Dean Preston, plan to hold a press conference asking Veritas to stall the sales to give time for the city’s public organizations and nonprofits to buy and preserve the homes before they slip into the hands of moneyed buyers who might want to remove longtime tenants.”
—Curbed San Francisco
Simon Property, Authentic Brands Consider Buying Forever 21
Simon would pair with Authentic Brands Group LLC to buy and operate the stores and the brand, said the people, who asked not to be identified because the discussions are private. The talks are continuing, and there’s no guarantee that the various sides will agree on terms or that a sale will result.
—Bloomberg
Multifamily Developers Find Less Space for Parking. What it Might Mean for Pricing.
“’We see the parking demand only further decreasing in the future,’ says Michael Smith, design director for Humphreys & Partners Architects. ‘With things like Uber’s air taxis on the near horizon, the demand for cars will be even further reduced.’”
—National Real Estate Investor
Goldman Demands More Female Board Members, but Real Estate Still Needs Help
“Of the 57 people who serve on boards of directors at America’s five largest REITs by market cap, 13 — just under a quarter — are women. And none of the five companies — which each has at least 11 corporate directors — employs more than three women in that role.”
—Commercial Observer
Crow Holdings Launches New Office Division to Build in Dallas and Elsewhere
“The company’s new Crow Holdings Office firm will design and build office projects across the country. Crow Holdings has hired Cody Armbrister—formerly with CBRE—to lead the operation as senior managing director.
—Dallas Morning News
Chasing Returns: 12 lessons for Real Estate Investors
“Rock-bottom interest rates won’t be the only thing to keep most global real estate markets buoyant in 2020. New technologies and market innovations—ranging from smart buildings to a boom in data centers and the warehouses needed to keep pace with e-commerce growth—will be a key driver of the commercial property market in the year ahead.”
—Fortune
Airbnb Sues Miami Real Estate Developer It Once Gave Rights To Its Name
“In October 2017, Airbnb and Hernandez announced plans for a 324-unit apartment complex in Kissimmee, Florida. The project, near Walt Disney World, was supposed to open in early 2018 and would be the first in a series of developments branded Niido Powered by Airbnb.”
—Forbes
VICI Properties Completes Acquisition of JACK Cleveland Casino, Thistledown Racino for $843.3M
JACK Cleveland Casino opened in May 2012 in the historic Higbee Building in downtown Cleveland. The property features approximately 96,000 square feet of gaming space, 1,300 gaming machines, 120 table games and eight food and beverage outlets. The casino is connected to both the 205-room Ritz-Carlton hotel and the 440-room Renaissance hotel.
—REBusiness Online
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