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September 17, 2020

Trump's Powerful CRE Supporters Pump Millions Into His Campaign

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While some commercial real estate leaders have begun to shift toward Joe Biden as the former vice president maintains a lead in election polling, President Donald Trump still has a strong base of support — and millions in campaign cash — from the industry he came up in. 

Citing Taxes, Economy, Trump's Powerful CRE Supporters Pump Millions Into His Campaign

Before the Democratic Party held its primaries, Trump had raised more than twice as much money from the real estate industry as his top challenger, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign spending. But that has since changed, with Biden now outpacing the president in real…

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Starwood's Barry Sternlicht Has Just About Had It

PRESENTED BY:   Walker & Dunlop
 

Almost six months ago, Barry Sternlicht forecast a more arduous recovery from the coronavirus than many experts in the real estate industry were predicting. He said a second wave of infections would likely cripple the economic recovery, but states would both refuse to shut down again and not do enough to save small businesses.

Much to his disappointment, he turned out to be right.

Starwood's Barry Sternlicht Has Just About Had It

Speaking again on the Walker & Dunlop Walker Webcast on Wednesday, the Starwood Capital Group CEO discussed a wide array of topics, from his predictions for malls and hotels to where he is deploying his personal capital in the current market. But he also inveighed against some…

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Amazon To Build 1,500 New Last-Mile Warehouses In Arms Race With Walmart

Amazon To Build 1,500 New Last-Mile Warehouses In Arms Race With Walmart  

Amazon could be looking to add comprehensive last-mile warehouse coverage to major markets on a heretofore unheard-of scale. Having largely recovered from the shipping delays precipitated by the outbreak of the coronavirus, Amazon is on a quest to open…

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Behind A Former Florida Mayor's Idea For Real Estate Climate 'Restoration Bonds'

Politicians and developers in South Florida love to cheerlead about how great the region is, often brushing off concerns about climate change to instead talk about beautiful beaches and tax advantages. But Philip Stoddard, a Florida International University biology professor and the former mayor of South Miami, has a darker take.

“My biggest concern is infrastructure collapse,” Stoddard told Bisnow during a recent call.

Every day, people are taking out 30-year mortgages on homes in the region, but there’s likely to be at least one more major hurricane in the next three decades, Stoddard said. That chance, combined with the threat of sea-level rise, means that sooner or later, flood insurance rates will become unaffordable and banks will stop lending. Property values will drop, the tax base will fall out, and there won’t be any money to pay for teachers, parks or police, he worries. 

“This is how societies unravel,” Stoddard said.

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'Back To The Future' DeLoreans And A Developer That Threatened The British Banking System: How The Wild Birth Of CVAs Is Shaping Today’s Property Market

 

LONDON — As Britain’s major landlords this week digest the implications of creditors to New Look approving a company voluntary arrangement that will slash the retailer’s rents, did any of them sit there and ask: Who invented the CVA, why and how did it come to this? 

Perhaps they should have done. Because the origin story of how CVAs became part of the British business and property landscape gives an insight into what the process was meant to do and how it is reshaping towns and cities today. It is a story that takes in a property developer whose eventual bankruptcy broke records and was seen as posing a threat to the stability of the financial system, and the DeLorean cars made famous in the Back to the Future film series. Its echoes reverberate down the years to be heard today. 

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