DAILY READS: March 4, 2020

Nuveen buys in Japan. Pritzker Prize makes history. Why real estate borrowers are avoiding SOFR. Here's a batch of other critical content for you to read, listen to or watch.

“When the Walt Disney Company announced in 2018 that it would leave its longtime home on the Upper West Side of Manhattan for a former manufacturing district downtown named Hudson Square, some people may have scratched their heads.” Read more
New York Times

Real Estate Borrowers Are Keeping Their Distance From SOFR, for Now

“For borrowers, there is currently a divide in the market over SOFR’s prospects, mainly around its duration flexibility, its liquidity as it relates to the market for purchasing caps and forward rate locks and spread adjustments to account for the differences between the two indices. ” Read more
Commercial Observer

Global Property Deals Stall as Virus Keeps China Money Home

“Eric Marrus, a real estate broker at Compass in New York, walked through a $7.5 million townhouse in Manhattan’s Lenox Hill neighborhood last week, pointing his phone into every corner of the property.  He was conducting a virtual tour via WhatsApp for a Chinese couple unable to visit the home together because of coronavirus travel restrictions.” Read more

2020 Pritzker Prize goes to Yvonne Farrell and Shelley McNamara

“Farrell and McNamara are the first female pair to nab the prize, as well as the first two recipients from Ireland. This honor comes after the duo’s recent international recognition as curators of the 2018 Venice Architecture Biennale, an accomplishment the jury noted as evidence of their ‘belief in collaboration’ and ‘generosity towards their colleagues.'” Read more

Nuveen Real Estate Acquires Japan Multifamily Portfolio for $140M

“Nuveen said in a statement that the firm had acquired the 10 residential properties in Tokyo and Osaka on behalf of its open-ended Asia Pacific Cities fund, while a source close to the transaction confirmed to Mingtiandi that they had been acquired from Hong Kong’s PAG.” Read more|