MARCH 23, 2019

Top Stories

Office

Chrysler Building Price Tag Should Not Be Taken as a Sign of Falling Manhattan Values

By Sebastian Obando, Staff Writer

The Chrysler building sale, which was announced earlier this month, offers a limited read on property valuations in the larger Manhattan office market, according to industry experts. Aby Rosen’s RFR Holding and Austrian real estate firm Signa Holding agreed to purchase the building for around $150 million, a price approximately 80 percent below the $800 million Abu Dhabi Investment Council paid for a 90 percent stake in the skyscraper in 2008,

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Retail

Beauty Sector Players Expand Physical Footprints Amidst Retail Industry Struggles

By Liz Wolf, Contributing Writer

Struggling retailers may soon be asking beauty industry giants Sephora and Ulta Beauty what their secret is, as both are expanding their bricks-and-mortar footprints at a time when many retailers are retrenchin g. Beauty is one of the few retail categories that’s growing in the tumultuous retail environment, and that’s good news for retail center owners.

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Finance & Investment

A REIT Caught Up in the Immigrant Detention Debate Tries to Re-Brand to Clear its Image

By John Egan, Contributing Writer

The core business of CoreCivic Inc. remains private prisons. But the REIT is venturing further into other property types—namely government-leased office properties—to unlock more opportunities.

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Analysis

Alternative Properties

What’s the Long-Term Outlook for the Nursing Home Sector?

By Lyndee Yamshon, Contributing Writer

The number of freestanding nursing homes is declining across the country. In 2018, there were only 21 nursing care facility openings in the U.S., compared to 51 openings five years earlier, in 2013, according to findings from brokerage firm Marcus & Millichap. Meanwhile, a recent New York Times article reported that 440 nursing homes in rural areas have closed over the past 10 years. Recent data from the National Investment Center for Seniors Housing & Care (NIC) also revealed more of a decline in nursing home occupancy rates in rural areas for the period from January 2012 through December 2018.

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Technology

What Is the Digital Twin Technology for CRE Assets?

By Patricia Kirk, Contributing Writer

A new Digital Twin technology offers commercial real estate developers and owners a powerful data tool that can expedite project construction, provide asset management efficiencies that save time and money and make buildings more sustainable.

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NREI Wire

All Signs Point to a U.S. Housing Boom Ahead: Conor Sen

Bloomberg

The decline in interest rates over the past three month could stimulate the U.S. housing market.

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