Commercial Real Estate
Top stories summarized by our editors
9/23/2019

IKEA has invested $2.76 billion over the past 10 years in wind and solar energy systems that generate power for its international operations. With the recent addition of a Romanian wind farm and two US solar plants, the retailer said it will be able to generate more than enough renewable energy to power all of its operations within a year.

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IKEA
9/23/2019

Best Buy will expand its lease-to-own program to nine more states in the next several months. The program, which was designed with partner Progressive Leasing to help customers without credit cards pay off their purchases over time, is prohibited by law in Best Buy's home state of Minnesota.

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Best Buy
9/23/2019

Wegmans Food Markets and Publix Super Markets ranked second and 11th, respectively, on Fortune's latest Best Workplaces for Women list. Women filled 27% of Wegman's executive and manager positions and 22% of similar roles at Publix.

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Progressive Grocer
9/23/2019

Fannie Mae and Freddie Mac are expected to start keeping their earnings instead of passing nearly all of the profits to the Treasury Department in a shift that is expected to begin as early as this week. The move, part of a forthcoming agreement between the Trump administration and the Federal Housing Finance Agency, would allow Fannie Mae and Freddie Mac to stockpile capital in order to eventually operate as private companies once more.

9/23/2019

Growth in private credit is supporting a boom in private equity, allowing firms to make acquisitions. The trend is contributing to competition in the space, and European regulators say they have detected signs of increased risk taking.

9/23/2019

Funds managed by The Blackstone Group have acquired Taubman Centers' 50% stake in the Starfield Hanam shopping center in Hanam, South Korea, in a $300 million deal. The sale is part of Taubman's plan to sell its ownership in three retail centers in Asia.

9/23/2019

US commercial real estate remains a favorite sector with investors, according to a report by the Urban Land Institute and PwC, partly because of global volatility and political instability. Among the asset classes, the industrial sector is viewed as being particularly favorable with respect to investment and development prospects.

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Urban Land Institute, PwC
9/23/2019

The merger between Broadmark and Trinity Merger Corp. is expected to close in November, creating a $1.5 billion publicly traded commercial mortgage REIT. Jeff Pyatt, who will be CEO of the REIT, says the new structure will provide more flexibility in allocating capital.

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Trinity Merger Corp.
9/23/2019

The growing popularity of co-working spaces could be a trouble spot in the next downturn, according to Boston Federal Reserve Bank President Eric Rosengren. The new leasing model could "ultimately make runs and vacancies more likely" he said in recent speech.

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Reuters
9/23/2019

Some developers are using vacant big box stores as incubator spaces for local artists and craftspeople or bringing in a food truck-style eating area to draw in customers, Donn Carr writes. Others are filling in the blanks with medical clinics, offices and housing.