NREI Daily
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OCTOBER 31, 2019

Top Story

Finance & Investment

Another Interest Rate Cut Will Help Hold Up CRE Values, But Was It Needed?

The Federal Reserve opted to cut interest rates for the third time this year at its October meeting, by a quarter percentage point, to a range of 1.50 to 1.75 percent. But while lower rates should sustain the positive momentum in the commercial real estate industry for now, there are concerns about whether the rate cuts were really needed, according to industry sources.

 

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Analysis

Retail

Hudson’s Bay Is on the Path to Go Private. What Would Privatization Mean?

Not everyone is on board with the deal, as there were minority shareholders who opposed company Executive Chairman Richard Baker's original bid. The company needs a majority of shareholders to approve the proposal for it to be finalized.

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NREI Wire

MGM Sets Year-End Target for Sale of MGM Grand in Las Vegas

MGM Resorts International expects to announce a buyer for its flagship MGM Grand resort in Las Vegas by the end of year, marking one of the final steps toward its goal of becoming an “asset-light” casino operator.

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L.A.’s $1 Billion Trophy Tower Halted as China Pulls Back

It’s meant to be one of the crown jewels of downtown Los Angeles’ urban renaissance but now it’s in limbo -- plagued by lawsuits from subcontractors, and victim of an ongoing trade dispute between China and the U.S. and a Beijing crackdown on credit and capital flight.

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Five Must Reads for the CRE Industry Today

San Francisco passes legislation to double fees on office development, reports the San Francisco Chronicle. A bankruptcy judge will rule on the fate of Barneys today, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.

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