- CoStar counterbids $6.9 billion for real estate data group CoreLogic “Commercial property data vendor CoStar Group Inc said on Tuesday it has made a $6.9 billion all-stock offer to buy CoreLogic Inc, weeks after the real-estate data provider agreed to be acquired by two private equity firms.” (Reuters)
- Why ‘Essential’ Retailers Are Choosing Not To Reopen In London’s Financial Hub “According to retail consultancy the Local Data Company, the vacancy rate in the City of London jumped from 8% to 11.4% in 2020, overtaking the average for Greater London which stands at just under 10%. The rate of increase in the City was almost three times that for Greater London and twice that for the whole of the U.K.” (Forbes)
- Brookfield Brings School Into Empty Mall Space: A Trend? “Brookfield Properties is repurposing a 70,000-square-foot former Sears location in Idaho Falls so it can be used as a charter school in fall 2021. A portion of the mall's parking lot will also be converted to an outdoor play area for students. The Alturas International Academy will register close to 600 learners in total, and access points will be closed off so mall shoppers won't be able to simply barge in while classes are in session.” (MillionAcres)
- What’s Delaying Boardroom Diversity “Many of America’s biggest companies don’t allow workers outside their topmost ranks to join external boards.… The stats show that when women and people of color are hired on a board, they are more likely to be first-time directors than white men, less likely to be current or former chief executives, and tend to be younger.” (The New York Times)
- This Real Estate Investor Launched Chicago’s First Black-Owned Bank, Binga State Bank “Real estate investor Jesse Binga became one of the wealthiest Black men in Chicago in the early 1900s. The Detroit native arrived in Chicago with $10 in his pockets. A few years later, he created a successful real estate empire and the first black-owned bank in Chicago.” (Black Enterprise)
- What you need to know about new real estate laws in 2021 “Many of the new rules are aimed at increasing rentals, such as in homeowner associations, as well as protecting future buyers. California still has statewide eviction protections for those affected by COVID-19 going until the end of June, but there are plenty of other laws for agents and landlords to worry about.” (The San Diego Union-Tribune)
- Keith Wasserman runs a $1.6B real estate portfolio at Gelt Inc. He tells us what he’s bullish on post-COVID. “Wasserman graduated in 2007 just as the eBay business was slowing down and the real estate bubble was reaching its climax. In 2008, he and his cousin spotted an opportunity and purchased a single 4-unit building in Bakersfield, California. Since then, the business known as Gelt Inc. — which focuses primarily on apartment buildings — has grown significantly.” (The Hustle)
- Wealthy buyers scoop up real estate on warm-weather islands “Some island nations are taking advantage of the uptick in demand. The Saint Kitts and Nevis government will give citizenship to buyers who pay more than $400,000 for a home in the two-island nation, offering easier access to Europe.” (The Real Deal)
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