DAILY READS: Jan. 14, 2020
- Jan 14, 2020
“The debt, a two-year deal that has three one-year extension options, is fueling Dune’s purchase of a portfolio that includes 2,086 hotel rooms from Florida to California. Dune will pay interest of 2.43 percent above the one-month Libor, with no principal due until the loan matures. ”
Essentially, the partnership Swivel forms with local landlords allows tenants access to shorter office leases with private, fully furnished spaces minus the higher rental costs associated with shorter coworking contracts or the inflexible and longer lease terms tied to traditional offices.
“For more than three years, developers Silos Harvesting Partners and Dreien Opportunity Partners have been working to convert the former J.C. Penney headquarters campus on Legacy Drive into a more than $1 billion mixed-use development.”
—Dallas Morning News
In the second quarter of 2019, the San Francisco Bay Area topped Los Angeles, Washington and Chicago when it came to people leaving major U.S. cities. It was second only to New York City. More than 28,190 people departed the Bay Area during those three months, close to double 2017’s rate, according to a regular migration report from real estate brokerage Redfin.
Industrial developers and investors are considering the advantages of rail access when choosing locations for new projects, says Tray Anderson, who heads the logistics and industrial services platform in the Americas for real estate services firm Cushman & Wakefield. While rail access doesn’t drive location decisions, it has become a risk mitigation strategy, offering an alternative to trucking if the driver shortage escalates.
—National Real Estate Investor