trending Market Intelligence /marketintelligence/en/news-insights/trending/eXHJfdhy-Rxm2p_3TD81_g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Apple scouts for Manhattan, NY, space; AT&T selling surplus real estate assets

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Real Estate

Real Estate Solutions Overview


Apple scouts for Manhattan, NY, space; AT&T selling surplus real estate assets

Commercial real estate

* Apple Inc. hired JLL to scout for between 200,000 square feet and 500,000 square feet of space for a new office in Manhattan, N.Y., The Real Deal reported, citing sources, with one source putting the potential lease size at 750,000 square feet. The iPhone-maker has already checked out the 50 Hudson Yards property owned by The Related Cos. LP and Oxford Properties Group Inc. Related and Vornado Realty Trust's Farley Post Office redevelopment, and SL Green Realty Corp.'s One Madison Avenue, according to the sources.

* JP Morgan Asset Management is looking to sell its 95% ownership interest in the 1.1 million-square-foot 195 Broadway building in Lower Manhattan that is valued at up to $800 million, Real Estate Alert reported. L&L Holding holds the remaining interest, which it does not intend to sell. The plans call for the sale of the land under the property, while L&L is looking for an equity partner to buy the leasehold interest.

* Telecom company AT&T Inc. is planning to sell its surplus real estate portfolio of 37 industrial and office properties located across Alabama, Florida, Illinois, Indianapolis, Louisiana, Georgia, Ohio, South Carolina, Tennessee and Wisconsin. The properties will be sold through individual onsite and online auctions that will run from Oct. 16 through Oct. 25.

* WeWork Cos. Inc. leased two levels of office space totaling 60,000 square feet at the 12-story, 330,000-square-foot Wills Wharf building in Baltimore, the Baltimore Business Journal reported, citing Chris Seiler, a spokesman for Beatty Development Group LLC, which is developing the project alongside Armada Hoffler Properties Inc. The coworking giant is set to open the Harbor Point location in the first quarter of 2020.

* Multifamily real estate investment trust NexPoint Residential Trust Inc. will buy the 1,520-unit Avant at Pembroke Pines apartment complex in Pembroke Pines, Fla., for $322 million by Aug. 30, the South Florida Business Journal reported. National Property REIT Corp. affiliate Arium Resorts LLC agreed to sell the 96.1%-occupied property spanning 11801 Pembroke Road, 12202 Washington St. and 1118 SW 122nd Ave. It last traded for $225 million in 2013.

* Starwood Property Trust Inc. sold the 612-unit Savoy at Dayton Station apartment complex in Aurora, Colo., to Los Angeles-based IMT Capital for an undisclosed amount through a competitive bid, the Denver Business Journal reported. The property at 3645 S. Dallas St. last traded for $161.5 million in January 2016.

* Hawaii-based BlackSand Capital LLC purchased the 160,000-square-foot, two-story Iwilei Center industrial building on Iwilei Road in Honolulu for $36 million from affiliates of The Harry and Jeanette Weinberg Foundation Inc., the Pacific Business News reported. A BlackSand affiliate, meanwhile, purchased Kapiolani Village Apartments comprising 24 properties on Kapiolani Boulevard and Kaipuu and Mahiai streets for a total of $34.8 million. Affiliates of Lum Yip Kee Ltd. sold the properties.

* The Federal Housing Administration is expanding the low-down-payment loans on condominiums purchases to encourage first-time buyers, The Wall Street Journal reported. The housing authority estimates it could insure up to 60,000 additional condo loans each year, on top of the 16,000 condo loans it backed in 2018. Federal Housing-backed loans require only a 3.5% down payment and lower credit score than conventional loans, the Journal noted.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng rose 0.76% to 25,495.46, while the Nikkei 225 fell 1.21% to 20,405.65.

In Europe, around midday, the FTSE 100 fell 1.54% to 7,037.60, and the Euronext 100 dropped 1.36% to 1,010.86.

On the macro front

The jobless claims report, the Philadelphia Fed Business Outlook survey, the retail sales report, the Empire State manufacturing survey, the productivity and costs report, the industrial production report, the business inventories report, the housing market index, the EIA natural gas report, the treasury international capital report, the Fed balance sheet, and the money supply report are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

Now featured on S&P Global Market Intelligence

UDR/MetLife JV split reflects differing views on urban apartments: UDR Inc. and MetLife Investment Management removed 15 apartment properties and a handful of development sites from their joint venture, with each side taking full ownership of some of the assets.

LaSalle ups stakes in Welltower, CoreCivic, cuts stakes in communications REITs: As of June 30, LaSalle held positions in 54 publicly traded REITs valued at $3.71 billion.

The Daily Dose has an editorial deadline of 7 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.