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January 16, 2020

Place Properties Planning Modular Plants Across The Country, Starting In Atlanta

Just announced! Atlanta Capital Markets: Debt, equity, alternative financing and evolution of the capital stack

For years, Place Properties developed its apartments the traditional way: find a site, bring in the materials and use crews to build it from the ground up.

But Place CEO Cecil Phillips is now all-in on a new way of developing apartments: assembling them in a factory hundreds of miles away, then putting the pieces together like a puzzle on the site.

The method is called modular construction. Phillips calls it the future of the housing industry, and he's placing a more-than-$30M bet that he's right.

Apartment Developer Plans To Build Modular Housing Factories Across The U.S.

“America, like in a lot of other places, we want what we want, we want it right away,” Phillips said at a Bisnow event in Atlanta last week. "Modular construction does more to scratch that itch, if you will, than traditional construction ever will."Place Properties owns and operates 3,200 apartment…

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Treasury Department Opens Probe Into Opportunity Zones

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The U.S. Department of the Treasury has opened an investigation into the federal government’s opportunity zone program, the agency said late Wednesday. Acting Treasury Inspector General Richard Delmar confirmed the move to NBC News, which first reported the story. Introduced as part of the Tax Cuts and Jobs Act of 2017,…

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How The Continued Rise Of Nationalism Will Hit Real Estate Capital Flows And Values

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Because most people employed in real estate today have only ever worked in a globalised world, it can be hard to imagine how it could be any other way.

But the prevailing mood around the world is increasingly opposed to globalisation, with political and economic nationalism and protectionism on the rise. From Brexit, to President Donald Trump’s trade tariffs and America-first policies, to an increasingly nationalistic government in India and other emerging economies, growing inequality has led to a pushback against the idea of an increasingly interconnected world.

That could have big implications for the commercial property sector. 

The real estate industry has been a big beneficiary of globalisation: 40% of global real estate deals last year were cross-border, according to JLL, up from less than 10% at the beginning of the 1990s. Increased globalisation has brought in more investors and pushed up prices and thus increased the volume of professional fees in the sector.

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Amazon Plans To Begin Work On HQ2 Development This Month

In a matter of weeks, construction crews will begin to tear down a block of 1950s-era warehouses in Arlington's Pentagon City neighborhood to make way for two shiny, high-rise office towers that will house thousands of Amazon employees.

Amazon has already moved more than 400 employees into leased office space in nearby Crystal City, but it plans to break ground on the first phase of new development at its second headquarters this month, Bisnow has learned.

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Is San Francisco A Test Case For Changing Retail Into Office?

Home to one of the country's hottest office markets, San Francisco might have its own specific, miniature version of the national retail-to-industrial trend happening in markets around the U.S.

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