In addition to analyzing the economics of a distressed position, real estate owners must consider the tax implications of the various outcomes surrounding debt. In the worst-case scenario of a foreclosure, not only can an owner lose a property, but also be subject to income tax on phantom income.
Single-sector private equity real estate funds are not unusual, but the majority tend to target core real estate assets. But Prime Group Holdings LLC has found success off the beaten path, focusing its funds on niche property types. Investors have poured $2.5 billion into its latest initiative, Prime Storage Fund III, focused on the self-storage space, blowing past the fund’s $1.5 billion target to reach its hard cap of $2.5 billion.
News Corp. said in its statement that it will “actively assess opportunities” as it continues a strategy of optimizing the value of its online real estate segment. The company has received interest from other potential buyers, said a person familiar with the talks who asked not be identified because they are private.
Institutional Investor examines the assumption that REITs can always hedge inflation. Some Amazon employees ask management not to make them return to in-office work, reports Gizmodo . These are among today’s must reads from around the commercial real estate industry.
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