{"id":1004379107,"date":"2019-12-31T07:20:24","date_gmt":"2019-12-31T15:20:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004379107"},"modified":"2020-02-18T09:49:38","modified_gmt":"2020-02-18T17:49:38","slug":"daily-reads-dec-31-2019","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/daily-reads-dec-31-2019\/","title":{"rendered":"DAILY READS: DEC. 31, 2019"},"content":{"rendered":"

\"\"DC Office Building Changes Hands in $130M Deal<\/strong><\/a><\/p>\n

“According to (WashREIT’s President and CEOO Paul) McDermott, with the sale, WashRIET has reduced its exposure to single tenant assets from 26 percent to 7 percent of office square footage over the past two years which supports its strategy to improve its risk profile and strengthen cash flows and FAD growth.”
\n\u2014Commercial Observer<\/em><\/p>\n

Investors Cherrypicking Apartment Buildings in Topsy Turvy Market<\/a><\/strong><\/p>\n

\u201c’Since the rent laws changed, the majority of the multifamily buildings we have sold or put under contract have had a smaller component of rent regulated units and those with a larger rent regulated component are trading at lower metrics,’\u201d said (Marcus & Millichap National Multi Housing Group senior director Matt) Fotis. 
\n\u2014Real Estate Weekly<\/em><\/p>\n

Vornado Closes Out 2019 With Another $59M Sale at 220 CPS<\/strong><\/a><\/p>\n

There\u2019s been a series of recent high-end closings, including some in the $60 million range, at the new 70-story development, but a number of those deals had been in the works since 2015. For instance, hedge funder Daniel Och recently closed on his $93 million penthouse, a deal that also had gone into contract more than four years ago.
\n\u2014The Real Deal<\/em><\/p>\n

The Misconception About Starting Small Before ‘Graduating’ to Large Multifamily Properties<\/strong><\/a><\/p>\n

“I\u2019ve met many investors who believe that the smart way to enter the multifamily market is to start small and then \u201cgraduate\u201d to buying larger multifamily properties. From my experience, that is a misconception that should be addressed because it prevents those investors from enjoying the many benefits associated with larger multifamily assets. I skipped the small multifamily properties and single-family homes and went straight to large multifamily properties, and I have learned that these are the three most common misconceptions that prevent others from doing the same.”
\n\u2014Forbes<\/em><\/p>\n

These South Florida Shopping Centers Traded for the Highest Prices This Year<\/strong><\/a><\/p>\n

“The Pinecrest-based commercial real estate agency MMG Equity Partners listed this year\u2019s top 25 transactions of commercial centers across South Florida based on sales volume. Low interest rates meant buyers were willing to pay higher-than-average prices, said Marcos Puente, the director of acquisitions at MMG Equity Partners. With low interest rates expected to continue in 2020, he said, shopping centers will continue to sell at similar prices.”
\n\u2014Miami Herald<\/em><\/p>\n

Long, Short-Term Obstacles to Senior Housing Development<\/strong><\/a><\/p>\n

\u201c’Seniors used to move into senior housing in their 70\u2019s and now they aren\u2019t moving until into their 80\u2019s. So developers need to be astute to that,’\u201d says Laura Dietzel, partner and real estate senior analyst at RSM, an audit, tax and consulting services firm, tells GlobeSt.com. \u201c’Due to current technology which an adult child can use to monitor the day-to-day life of their elderly parents, developers certainly have a problem in the short term.’\u201d
\n\u2014GlobeSt.com<\/em><\/p>\n

The Bankruptcies That Rocked the Retail Industry in 2019<\/strong><\/a><\/p>\n

“2020 will inevitably bring with it more bankruptcies, analysts say. But the filings from the likes of Payless ShoeSource, Destination Maternity and Shopko in 2019 also have their own consequences for the coming year.”
\n\u2014CNBC<\/em><\/p>\n

These Housing Markets Will Feel the Biggest Impact From the \u2018Silver Tsunami\u2019<\/strong><\/a><\/p>\n

\n
“In the decade between 2007 and 2017, around 730,000 homes hit the market that were previously owned by seniors each year. But that number is expected to grow exponentially over the next couple decades. Between 2017 and 2027, 920,000 homes will be released into the market each year by people aged 60 or older, according to a new analysis from real-estate company Zillow ZG, -0.40 percent<\/span><\/span>. By the decade between 2027 and 2037, the figure is project to hit 1.17 million homes a year.”<\/div>\n
\u2014MarketWatch<\/em><\/div>\n
 <\/div>\n
Opportunity Zones Facing Some Headwinds Despite New Rules<\/a><\/strong><\/div>\n<\/div>\n
 <\/div>\n
\u201c’It takes a lot for any legislation to go through the whole process and get signed into law,’\u201d (Joseph Wutz, a principal in The Bonadio Group\u2019s tax department) told Accounting Today<\/i> before the regulations were finalized. \u201c’If anything comes out of this, I think it\u2019s going to be the reporting requirements, which is something that was originally intended to be in the original legislation for the opportunity zone incentives. What this would do is it would bring some accountability and measurability to the opportunity zone incentives. Any time you set a goal, you want it to be something that you can measure.’\u201d<\/div>\n
\u2014Accounting Today<\/em><\/div>\n
 <\/div>\n
\n

With Loneliness and Rents on the Rise, Co-Living is Gaining a Foothold in Boston<\/strong><\/a><\/p>\n

“In this age of rising rents and social isolation, the economics and built-in community aspects of roommate living hold an undeniable appeal, a fact not lost on developers. So it\u2019s no wonder Boston\u2019s most anticipated residential projects \u2014 including 7INK, the seventh and final building under construction at Ink Block in the South End \u2014 are slated to include co-living rentals.”
\n\u2014Boston.com<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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