DAILY READS: Jan. 8, 2020

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BH Equities and Cantor Fitzgerald Secure $61M Refinancing for Naperville Complex”

The suburban market has been strengthening due to a low supply of suburban housing options and record demand in 2019. Big refinancings like this one and suburban sales such as the $90 million sale of the Atworth in Vernon Hills are healthy signs for the suburban market.”
—The Real Deal Chicago

Podcast: The Top Economic Issues in 2020

“Stephanie Aaronson, vice president and director of Economic Studies at Brookings, and Louise Sheiner, the Robert S. Kerr Senior Fellow and policy director of the Hutchins Center on Fiscal and Monetary Policy, share their views on the state of the U.S. economy and the top economic issues facing the country in the upcoming year.”

California Bullet Train Authority Approves $1.6B RFP

“The total cost for the Northern-to-Southern California bullet train route most recently was pegged at $77 billion. Nevertheless, soon after Gov. Gavin Newsom took office last year, he temporarily shelved all but the 119-mile, $10.6 billion part of the route between Bakersfield and Merced.”
—Construction Dive 

Families of Two Seattle Crane Collapse Victims Sue Companies Over a Deadly ‘Shortcut’

“The South Lake Union construction site, built for a new Google campus, was the largest construction project in the city at the time. The city hadn’t witnessed a deadly crane collapse in 13 years, even as Seattle became home to more tower cranes than anywhere in the country.”
—The Seattle Times

Private Payroll Growth Surges in December to End 2019 Strong, ADP Says

“‘Manufacturers, energy producers and small companies have been shedding jobs. Unemployment is low, but will begin to rise if job growth slows much further,’” (Moody’s Analytics Chief Economist Mark) Zandi said in a statement.”

LCS, NHI Team Up to Buy Washington CCRC for $133 Million

“The Des Moines, Iowa-based senior living company and the Murfreesboro, Tennessee-based real estate investment trust (REIT) on Tuesday agreed to form a new joint venture to own and operate Timber Ridge at Talus, a “Type A,” 401-unit CCRC near Seattle in Issaquah, Washington. LCS has been a minority equity owner in Timber Ridge in partnership with Westminster Capital since LCS Development originally developed the community in 2008.”
—Senior Housing News

How the On-Demand Economy Reshaped Cities

“Historically, one of the great economic benefits of urban life is having access to jobs, schooling, goods, and services without needing to travel very far. But digital platforms that aggregate consumer demand are making physical density less important. Uber and Airbnb, the killer apps of the 2010s, exemplify this change. Once upon a time, visitors needed to flock to quarters where a city’s supply of hotel accommodations and other tourist amenities were physically consolidated, usually downtown. If you needed a ride, you used to call the taxi company directly, or flag down one of the cabs that served that area.”

How a Trump Win in 2020 Could Reshape Housing Markets Across America

“In other words, if one of the Democratic candidates for president emerges victorious come November, then “blue” counties could see a boost to their housing stock. A second term for Trump, meanwhile, would support continued housing growth in Republican-leaning parts of the country.”

Will the U.S. Industrial Sector Feel Any Impact From Phase I of the Trade Deal?

“Although the administration has repeatedly claimed the tariffs are being paid by China, a New York Federal Reserve study confirmed what many tariff-opponents have argued from the start–that the tariffs are simply being passed through by importers and costing Americans an estimated $40 billion annually.”
—National Real Estate Investor

Half of Midtown’s No. 2 Opus Place Site Is Now Up for Grabs

“That piece of the four-acre site is sizable enough to house more than a million square feet of additional office space—not including the seven floors of office space planned for the 55-story condo tower—plus apartments and retail.”
—Curbed Atlanta

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