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February 11, 2020

Resales Rule Atlanta's Luxury Condo Market

Don't miss Atlanta Deferred Exchange, Patterson & TriStar at Atlanta Capital Markets & CRE Finance March 25

Selig Development Co. has not even opened a sales office for 40 West 12th, but the firm already has pre-sold six units in its planned luxury condo project.

Turns out, Selig's project, which is a part of a larger mixed-use development in Midtown that includes the future home for a regional Google office, is one of the exceptions when it comes to demand for new condominium units in Atlanta.

Instead, resales have mainly ruled the day.

Resales Rule Atlanta's Luxury Condo Market

Atlanta's condo market saw prices rise, but the total number of sales declined from the previous year. The average price for condo sales rose 6.5% to $331K/per unit, while the total volume of condo sales inside Interstate 285 fell from 3,900 units in 2018 to 3,600 units in 2019, according…

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Restaurant Chains Struggling To Survive Despite Record Economy, Food Spending

For the U.S. restaurant business, 2020 has already started with a bang, or rather, a crash.

Within days of each other, the parent companies of three sit-down chain restaurants, Bar Louie, Bakers Square and Village Inn, filed for Chapter 11 bankruptcy protection. Food service is a notoriously volatile industry, so these bankruptcies, along with other recent bankruptcies and closures of sit-down chains, could simply reflect industry churn.

But industry experts say deeper changes in the industry are also impacting chains, leaving them even less room for error as they struggle to grow or even survive.

Read the full story here.

  Restaurant Chains Struggling To Survive Despite Record Economy, Food Spending
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Coronavirus Shuts Down WeWork Locations, Threatens Logistics Chains

Coronavirus Shuts Down WeWork Locations, Threatens Logistics Chains  

Coworking giant WeWork, now under new management and overseeing a five-year plan to reinvent itself, has closed its 100 sites in China temporarily in response to the Wuhan coronavirus outbreak.WeWork Executive Chairman Marcelo Claure discussed the closings during a recent interview with CNBC, and also said that…

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£1B Harley Street Medical Area Balances Brand, Ethics And Science To Tap Into Health Tourism Boom

LONDON — Say the name Harley Street, and the mental associations with the high-end medical profession are instantaneous: discreet, elegant building facades, tasteful waiting rooms, white coats and a reassuringly expensive bill at the end of your visit.

For more than 150 years, Harley Street has been the epicentre of the private medical industry in London, and today more than 5,000 medical companies and practitioners operate in what has been branded the Harley Street Medical Area. They work across 250 specialisms, and the turnover of the practitioners there is more than £1B, driven by the rise in medical tourism. The area has turned into a medical cluster, and keeping it that way is a fascinating, under-the-radar real estate story. 

Read the full story here.

  £1B Harley Street Medical Area Balances Brand, Ethics And Science To Tap Into Health Tourism Boom
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Beyond The Bio: 16 Questions With Avanath Capital Founder Daryl Carter

Beyond The Bio: 16 Questions With Avanath Capital Founder Daryl Carter  

This series profiles men and women in commercial real estate who have profoundly transformed our neighborhoods and reshaped our cities, businesses and lifestyles.

After years of observing and working as a commercial lender for a major bank in Chicago in the 1980s, Daryl Carter made a leap of faith.

Carter, the founder and president of Irvine-based Avanath Capital, was 33 years old when he and partner Quinton Primo III started their own commercial real estate company called Capri Capital. 

"The odds were against us as two young African Americans in the commercial real estate sector," Carter said. "But we built a company, Capri Capital, with $8B in assets under management."

Read the full story here.

 
 
       
 
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