National
Economy Watch: Inflation Edges Up in April
The Consumer Price Index increased 0.2 percent for the month, according to the Bureau of Labor Statistics. While it’s not the only metric the Federal Open Market Committee considers, the increase could increase the odds that interest rates will rise next month.
RealtyShares Names Industry Vet to BOD
Edward Forst brings a wealth of experience to the online crowdfunding operation, having worked with Cushman & Wakefield and Goldman Sachs.
Economy Watch: Retail Sales Up in April
U.S. retail sales increased 0.4 percent in April and 4.5 percent from the same time last year, according to the U.S. Census Bureau. Retailers like electronic stores and building material suppliers had a good month, and even department stores eked out a small gain.
Office Sector Offers Opportunity in Q2
Robust job growth bodes well for office properties, despite uncertainty about the current cycle and future political and economic policy.
Economy Watch: Banks Tighten CRE Lending in Q1
Banks cited a less favorable or more uncertain outlook for CRE property prices, vacancy rates or other fundamentals, as well as reduced risk tolerance as important reasons for tightening CRE credit policies in the first few months of 2017, according to the Federal Reserve’s latest Senior Loan Office Opinion Survey.
JV Completes $55M Hyatt Hotel Renovations
Thirty-eight Hyatt Place and Hyatt House locations underwent renovations that included upgrades to guestrooms, common areas, bathrooms and amenities.
H.I.G. Closes $600M Real Estate Fund
The fund’s general partner and related parties were among the list of contributors, as was a $52 million co-investment vehicle. Fund III, launched in June 2015, has so far amassed a portfolio of eight assets accounting for 20 percent of the commitments.
Morrison Raises $200M for Mezzanine Debt
The fund provides small-balance mezzanine capital, with investment balances typically ranging from $2 million to $10 million, to CRE market participants across diverse property types in the top 100 MSAs nationwide.
Boston Fed President Airs Concerns About Risks to CRE
Speaking at a recent NYU Stern School of Business conference, Boston Fed President Eric Rosengren pointed to some favorable tailwinds accompanying rising CRE valuations, but stressed the importance of evaluating how a potential recession could affect the financial system.
Ascend Hotel Collection Welcomes 6 New Properties
The firm plans to keep up the pace; the brand will open a total of 44 properties this year. Currently, there are more than 170 Ascend lodging destinations operating across the globe.