A report from data firm Real Capital Analytics (RCA) estimates that foreign investors represented 8 percent of all U.S. investment sales closed in the second quarter of 2020, down from a three-year average of about 12 percent. Nevertheless, some well-capitalized cross-border investors continued to be active stateside in the first six months of 2020, and some patterns emerged among those flows.
Swedish retail giant Ikea, known for its inexpensive, modern, hard-to-assemble furniture, traditionally doesn’t target urban cores. Instead, it typically builds its warehouse-style stores, averaging 320,000 sq ft., in suburban areas. Now, the Ingka Centres shopping center arm of Ikea’s parent company is starting to load up its U.S. cart with inner-city, mixed-use projects anchored by Ikea stores.
NMHC President Doug Bibby, who had been scheduled to step down in January, has decided to delay his departure for a year, reports Multi-Housing News. California Governor Gavin Newsom threw his support behind a controversial proposition that would raise property taxes on commercial properties, according to California Globe. These are among today’s must reads from around the commercial real estate industry.
