In case you missed it, here's our latest weekly roundup of top national commercial real estate stories, as reported by our plugged-in CoStar News team.
'Last Mile' Warehouses Stay Hot as Ivanhoé Cambridge Buys TPG's Evergreen Industrial Properties for Reported $1 Billion
Montreal-based Ivanhoé Cambridge made its first major move into the 'last mile' warehouse market this week, closing on its purchase of Evergreen Industrial Properties from private equity investment firm TPG Real Estate. The investment unit of Montreal pension fund advisor Caisse de Depot et Placement du Quebec announced it plans to buy more.
Will Fed be Able to Stick its Move to Trim Massive Securities Holdings by $2.3 Trillion?
After being credited for steering the U.S. economy off the precipice in the global financial crisis through its massive stimulus program, the Federal Reserve is now facing the delicate task of paying the bills. The Fed is preparing to unwind a huge chunk of its $4 trillion portfolio of bond securities it began accumulating 10 years ago, part of the measures it took to prevail over a collapsing economy.
Magellan Unveils Plans for Four New High-Rises in Chicago's Lakeshore East
Chicago-based Magellan Development Group, builder of Vista Tower, expected to be Chicago's third-tallest skyscraper when it opens in 2020, has unveiled plans for four new high-rises anchored by an 80-story hotel and condominium building rising over the downtown waterfront in Magellan's Lakeshore East development.
Three New REITs Prep for Public Launches
Last month’s rapid pace of new publicly traded REIT launches is continuing this month with two new mortgage REIT filings and a publicly held landowner/developer announcing plans to convert to a REIT.
Publicly traded REITs have relied heavily on the capital markets this year for funding, having raised $43.18 billion by the end of the second quarter, representing a 19.1% increase from the $36.27 billion raised in the same period one year ago.