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New sports arenas are altering the financial formula for building these behemoths by surrounding themselves with apartments, bars and office towers — not parking lots.
This year the Real Estate Board of New York plans on pushing Albany to lift a cap that has long limited the size of new apartment buildings in New York City, the trade group’s president said Thursday. Current state rules restrict the square footage of a residential building to 12 times its lot size. While this has resulted in plenty of tall Manhattan apartment towers, developers have the capabil...
(Credit: Wikimedia Commons) Taking advantage of a tight housing market and ever-rising rents, co-living startup Ollie has just raised $15 million, and is expanding into Los Angeles. Ollie already had plans to move into the L.A. market with the conversion of the former Cecil Hotel into a 301-micro unit outpost, set to open in late 2019. Ollie, which is based in New York, has locations there and in ...
Bloomfield Capital, a leading real estate private equity firm, announced that it recently closed its third fund, raising $100 million in total capital commitments. The Fund, Bloomfield Capital Income Fund III (BCIF III), was oversubscribed and closed above its target of $75 million. This is the largest fund raised to date by Bloomfield, which closed its second fund (BCIF II) in 2014 with $60 mil...
Amazon Chooses 20 Finalists for Second Headquarters By NICK WINGFIELDJAN. 18, 2018 Continue reading the main story Share This Page Continue reading the main story Photo Employees working alongside robots in an Amazon warehouse in Florence, N.J. The state offered Amazon a commitment of up to $7 billion in tax incentives to bring Amazon’s second headquarters to Newark. Credit Bryan Anselm for The ...
SEATTLE--(BUSINESS WIRE)--(NASDAQ: AMZN)—Amazon reviewed 238 proposals from across the U.S., Canada, and Mexico to host HQ2, the company’s second headquarters in North America. Today, Amazon announced it has chosen the following 20 metropolitan areas to move to the next phase of the process (in alphabetical order):- Atlanta, GA- Austin, TX- Boston, MA- Chicago, IL- Columbus, OH- Dallas, TX- De...
Apple is gearing up to build another corporate campus in a yet-to-be-announced American city and increase its workforce across the U.S. by 20,000 new employees over the next five years, the iPhone maker said Wednesday. The news comes packaged with Apple’s announcement that it plans to "invest," or generate, more than $350 billion for the U.S. economy between now and the end of 2023. Th...
NASHVILLE, TN- CapStack Partners, the alternatives-focused investment bank and investment advisor, announced the acquisition of a three-property, 475-unit multifamily portfolio in Nashville, Tennessee. This is the first transaction that CapStack has executed within the scope of the investment mandate it secured in August to acquire value-add and opportunistic multifamily assets across the South...
By Richard Pickering, Head of Futures Strategy Happy New Year? The year seems to be off to a good start. The pound is at a high since the referendum ($1.37); economists are more optimistic about GDP growth (1.8%); and inflation may have peaked (3.0%). Although the ONS cautions against premature conclusions, the Bank of England believes that the worst inflation is behind us, easing some of the pres...
Redfin went public, Amazon got the Key to your house, a new tax bill cut taxes on corporations and pass-through entities–and that doesn’t even begin to cover all the disruption that happened during 2017. Our industry grew closer through expanded events like CRE//Tech Intersect and Inman Connect. New companies became unicorns (OpenDoor) while other big names bit the dust (Xceligent). I’d say ...