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Katie Farmer, incoming CEO of BNSF Railway, told CNBC on Friday that her industry has clearly been impacted economically by the coronavirus pandemic, but there’s optimism on the horizon. “We have seen the economy start to pick up relative to rail loadings,” Farmer told “Squawk Box.” While BNSF, owned by Warren Buffett-led Berkshire Hathaway, anticipates a rebound,
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On July 15, the extension deadline for 1031 Exchange investors to choose on their replacement assets passed. Net Lease Velocity Flattened In August. With the deadline in the rearview mirror, single-tenant net-leased (STNL) asset sale velocity flattened in August 2020, according to The August 2020 NNN Market Intelligence Report Chris Pappas, associate director with Marcus
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General view of WeWork Weihai Road flagship is seen on April 12, 2018 in Shanghai, China. World’s leading co-working space company WeWork will acquire China-based rival naked Hub for 400 million U.S. dollars. (Photo by Jackal Pan/Visual China Group via Getty Images) LONDON — Office space provider WeWork has sold a majority stake in its
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BOSTON – JLL has appointed Travis McCready as executive director and national practice leader within its life sciences practice. Within his new role, McCready will partner with and connect local market teams throughout the US, as part of JLL’s life sciences strategy. He will additionally serve as an advisor to clients; providing the full spectrum
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After a brief lull to start the month, mortgage demand surged ahead yet again — even with the highest interest rates in several weeks. Total mortgage application volume increased 6.8% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance demand came roaring back, up 9% for the week
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Eric Trump speaks in Portsmouth, NH on Sept. 17, 2020. Eric Trump, son of President Donald Trump, makes a stop in Portsmouth during one stop on his ‘Make America Great Again!’ tour. A lawyer for the New York attorney general’s office argued Wednesday that President Donald Trump‘s middle son, Eric Trump, has no right to
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Blackstone has announced the final close of its most recent real estate debt fund. Blackstone Closes $8B CRE Real Estate Debt Strategies IV. The fund has $8 billion of total capital commitments. Making it the largest real estate credit fund ever raised, according to the private equity giant. Blackstone Real Estate Debt Strategies has $26
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At Last JBG Smith Wins CBRS Spectrum Bid. ALEXANDRIA, VA – Owner and developer, JBG Smith has acquired seven blocks of Citizens Broadband Radio Service spectrum spanning across Arlington County and the city of Alexandria. The owner and developer purchased the licenses through a national FCC auction, which concluded in late August. JBG Smith Wins
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Mom-and-pop landlords are in a worse financial position but Millions can’t pay rent. relative to their higher-earning peers as unemployment remains elevated and Americans continue to struggle to pay rent, according to a new analysis. Roughly a third of individual landlords who own residential property are from low- to moderate-income households (those with incomes of
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Where to live in one’s golden years is one of the most significant decisions a new retirement living has to make, and the traditional notion of retirement is changing. The old formula of cookie-cutter retirement communities is being challenged by the rise of customizable living arrangements. Sprawling housing developments in retirement havens like Florida are
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Institutions are becoming increasingly interested in manufactured housing. To name one recent example, Blackstone Group is in exclusive talks to acquire about 40 parks from Summit Communities for roughly $550 million through its REIT, Blackstone Real Estate Income Trust, according to Bloomberg. These investors are drawn to the sector for its resiliency and upwardly trending
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NAA Files Suit The National Apartment Association has joined the New Civil Liberties Alliance in a lawsuit challenging the US Centers for Disease Control and Prevention’s national eviction moratorium that it ordered earlier this month. The New Civil Liberties Alliance is a group focused on reigning in the expansion of federal agency powers. The associations
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Last week Mortgage demand fell. Contractors work on a new home under construction at Taylor Morrison Home Corp.’s La Solara Community in Dublin, California. With no major move in mortgage rates, there was no sudden incentive to refinance a home loan last week. So fewer people did. That drove overall mortgage application volume down 2.5%
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With all of the carnage in the office market, Questions Law Firms Need should be asking hard questions about their space as they plan for the future. Right now, real estate is the second largest expense of law firms behind employees for law firms,  according to Ryan Hoopes, a director in the Legal Sector Advisory Group
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The number of borrowers in Government mortgage bailout numbers programs is shrinking, but those in private-label or bank bailouts is rising. This suggests that there is still pain ahead in the mortgage market, as some borrowers are simply not recovering enough financially to afford their home loans. Government mortgage bailout numbers The total number of
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Homebuilder sentiment hit a fresh all-time high on Wednesday on the back of rising demand for suburban housing. homebuilding boom. The iShares U.S. Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF (XHB) climbed nearly 3% and 2% respectively following the spike, with the XHB hitting a new all-time high. Wall Street analysts also
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Earlier this week, The Connell Company Partners announced that it has partnered with Hana to open and operate Round Table Studios, a shared flexible workspace at Connell Park in Berkeley Heights, NJ. Connell Company Partners Round Table Studios, which provides curated office spaces, amenities and hospitality services for co-working, mid-to-large tenants and their guests, will
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US businessman and son of the US president Eric Trump says. Lawyers for Eric Trump said Thursday that he is willing to be deposed as part of the New York Attorney General’s office’s probe of the Trump Organization, but only after the 2020 presidential election. In a court filing in New York State Supreme Court,
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Commercial real estate stocks are bouncing back this week after taking a big hit. Manhattan’s biggest office landlord Shares of SL Green, Manhattan’s biggest office landlord, are up 14 percent. On Monday, SL Green unveiled a $3 billion, 77-story new office tower in midtown, showing the company is betting on a future that includes workers
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The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero for as long as it takes to help the economy bounce back from the coronavirus crisis. The Fed said the ongoing coronavirus pandemic will “weigh heavily” on the near-term outlook and poses “considerable risks” for the medium term. In addition to holding rates near rock bottom, the
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Blackstone Group is in exclusive talks to acquire about 40 parks from Summit Communities for roughly $550 million through its REIT, Blackstone Real Estate Income Trust, sources have told Bloomberg.  Once acquired, BREIT will invest in upgrades, including building shared facilities such as swimming pools, a source told Bloomberg. Manufactured homes have become a valued
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Homebuilding stocks jump on all-time high sentiment. Where to invest in the space Fed leaves rates unchanged in its last meeting before the 2020 presidential election There’s a growing disconnect in emerging markets, but traders see opportunity Unusual activity suggests market volatility will jump after Election Day, Wells Fargo finds Market volatility may swell after
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