The current valuation of FAANG stocks -- Facebook, Apple, Amazon, Netflix and Alphabet's Google -- is roughly half that of the US institutional real estate market in terms of total equity value, according to a report from CenterSquare Investment Management. "Essentially the choice that the market is giving investors today is, would you rather own the five most popular tech stocks in America, or half of all the commercial real estate in this country?" says Scott Crowe, CenterSquare's chief investment strategist.
MetLife Investment Management and State Street have agreed to originate and service $2 billion in commercial mortgages in an arrangement in which the companies will co-lend each loan. MetLife sees the deal as a step in expanding the reach of its asset manager.
Sources say HNA Group is in discussions with B&L Management Co. to sell its stake in Manhattan's 850 Third Ave., which the Committee on Foreign Investment in the US has asked it to sell because it is close to Trump Tower. The deal would value the building at $452 million.
Weyerhaeuser Co. was rated highest among the companies related to real estate and construction in the Management Top 250, a ranking based on Peter Drucker's teachings and compiled by the Drucker Institute. The REIT reached this pinnacle in part because of its social responsibility and innovation efforts.
Monmouth Real Estate Investment has purchased a 265,318-square-foot FedEx Ground building in Charleston, S.C., for about $47.2 million. FedEx Ground has a 15-year net lease for the new facility.
President Donald Trump has asked the Securities and Exchange Commission to consider allowing public companies to report results to investors on a biyearly instead of quarterly schedule. He says such a move would promote growth and flexibility.
Taubman Centers is reinvesting in data tools, new store concepts, technology and design. In this interview, operations chief William Taubman explains why the company invested $500 million in its Beverly Center in Los Angeles and how its efforts are already paying off with improved traffic and sales.
Best Buy will acquire GreatCall, which makes the Jitterbug phone and other technology and services designed to help older consumers stay connected and get help in emergencies, for $800 million. GreatCall booked $300 million in revenue last year and boasts 900,000 service subscribers.
Demand was moderate to strong across most major commercial property sectors in the second quarter, which helped keep vacancy rates low and rents rising. Nareit researchers Calvin Schnure and Alexandra Thompson discuss the recent trends in supply, demand, vacancy rates and rent growth. Read the full commentary.