Rising interest rates and uncertainty about the economy’s prospects slowed the pace of investment in apartment properties during the first few months of 2019.
Dallas-based luxury department store chain Neiman Marcus opened its newest store on Manhattan’s west side in March and pulled out all the stops. The flagship department store is part of a 1-million-sq.-ft., seven-story, glitzy shopping complex called the Shops and Restaurants at Hudson Yardsdeveloped by the Related Cos. and Oxford Properties Group. The store is part of the first phase of the $25 billion mixed-use new neighborhood.
While the continued growth of online sales has taken an obvious toll on the retail real estate sector, some industry experts argue that savvy retailers and landlords are finding ways to navigate the evolving landscape.
The impending $5.9 billion all-stock merger of office REITs Cousins Properties Inc. and TIER REIT Inc. could open the door for other smaller REITs joining forces, one commercial real estate observer says. But another industry insider shuts down that notion.
Tax-advantaged opportunity zone investments outlined in the 2017 federal tax legislation spawned a litany of press and interest to take advantage of the option, but so far there’s been relatively little transaction activity. The IRS, which has to interpret and codify tax legislation via guidance and regulation, has only sporadically released information, leaving the bulk of investors to abstain from taking action until receiving further direction.
What other multifamily rental property type enables investors/owners to collect monthly rental homesite lease payments; PITI home loan payments; and when present, apartment rent on homes sited throughout this unique, income-producing community?
