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October 7, 2021

'You’ve Got To Get Pretty Heroic': Lender Aggression Ramping Up For Industrial, Multifamily

[In-Person] Mount Sinai Health System's Head of Real Estate Tom Ahn discusses why tenants are choosing Queens Oct. 27

Lenders are getting aggressive on multifamily and industrial deals, pushing their equity requirements down to win more deals as heaps of cash are plowed into the two asset classes.

'You’ve Got To Get Pretty Heroic': Lender Aggression Ramping Up For Industrial, Multifamily

Leverage ratios have eclipsed 80% in some commercial loans — a mark that had been rare in the aftermath of the Great Financial Crisis — as lenders are trying to outbid each other in an increasingly competitive market, debt experts said during Bisnow’s National Real Estate Finance Summit this week. “I…

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Cathie Wood's Investment Firm Is Ditching New York For Florida

Cathie Wood's Investment Firm Is Ditching New York For Florida

ARK Investment Management is trading Manhattan for the Sunshine State, announcing it will close down its New York City headquarters by the end of the month."We are thrilled to relocate our corporate headquarters to St. Petersburg, Florida, as we believe the Tampa Bay region's talent, innovative spirit, and quality of…

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NYC Property Sales Are Inching Upward But The Big-Ticket Sales Still Aren't Back

NYC Property Sales Are Inching Upward But The Big-Ticket Sales Still Aren't Back

Sales volume in Manhattan’s commercial property market increased slightly in the third quarter of the year, with multifamily trades being the major driver of the market.There were a total of $2.3B worth of commercial real estate trades across the city between July and September, according…

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Nontraded REITs Have Raised Over $20B This Year And Are Shifting CRE Market Dynamics

Tens of billions of dollars are being raised this year by some of the biggest investment firms in real estate into nontraded REITs, a rapidly growing segment of funds that are shifting the dynamics of the industry's hottest property sectors.

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The Chicago Bears Have A Suburban Vision And Experts Say There's Enough Demand To Make It Happen

CHICAGO — The Chicago Bears’ decision last week to sign a $197M purchase agreement for Arlington International Racecourse in northwest suburban Arlington Heights sets up the possibility of the city losing its storied football team. But before the Bears and racetrack owner Churchill Downs Inc. complete that deal, many questions will have to be answered.

The team will need to finance a new stadium, a tough task as modern football stadiums typically cost between $1.5B and $2B and generally have to be built without taxpayer support.

Although neither the team nor Arlington Heights officials have spoken much about what will replace the historic racing palace, the Bears are likely to use the racetrack's 326 acres to foster a mixed-use development, and attempt to attract fans and customers year-round, even when games are not underway. Going in that direction will require massive private investment as well as buy-ins from developers and prospective tenants who believe in the site’s long-term potential.

But brokers and developers familiar with suburban Chicago say such a strategy could succeed. The demand for such a development likely exists, which would both help finance a new stadium and greatly inflate the team’s value.

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