- Fortress Announces Agreement to Acquire Management of Colony Capital’s Non-Digital Real Estate Funds and Related Capital Account Assets “Under terms of the agreement, Fortress will acquire certain of Colony’s capital account positions in non-digital real estate, including positions related to a portfolio of approximately 40 positions encompassing over 100 properties in Europe and the U.S. Total consideration is $535 million, subject to customary adjustments.” (Via press release)
- Biden's Budget Includes 'Once In A Generation' Investment In Vouchers, Public Housing. Now Landlords Need To Get On Board “Amid the myriad programs, a relatively small line item in Biden’s budget could do more to house the country’s most vulnerable citizens than any government policy since before Ronald Reagan was president. The $30B allocated to the Housing Choice Vouchers program and $40B allocated to public housing would be a godsend to housing authorities across the country — if it survives Congress, where the budget’s price tag and the funding necessary to meet it have been hotly debated.” (Bisnow)
- What Joe Biden’s infrastructure plan holds for real estate “But how much bang would Biden get for his buck? Though much may change as bargaining continues, here are five proposed provisions noteworthy for the real estate industry.” (The Real Deal)
- Katie Keenan is Ready for the Market Rebound as Blackstone Mortgage Trust’s New CEO “Winston Churchill once said, ‘Never let a good crisis go to waste,’ and Keenan’s early industry experience only helped inform a balanced investment approach that’s stuck with her throughout her career. ‘I’m able to understand the upside but also able to think about the downside as a lender, in making sure our capital is always well protected,’ she said.” (Commercial Observer)
- 'There's Just Not Enough Warehouse Space': Florida Enjoying Industrial Sector Boom “The COVID-19 pandemic has wreaked many forms of havoc, but the industrial sector is not among the casualties. In fact, a year-plus of social distancing and widespread store closures has accelerated an already growing demand for online goods, leaving many businesses in search of one thing: warehouse space. It’s a nationwide trend that could bring unique benefits for Florida, which is welcoming an influx of people and companies every day who’ll further feed demand.” (Law.com)
- Stone Point Capital and Insight Partners seal $6 billion deal for CoreLogic “The deal, which was first announced in February, will see Stone Point and Insight Partners acquire all outstanding shares of CoreLogic for $80 per share in cash. CoreLogic’s common stock has ceased trading on the New York Stock Exchange, according to its Press release.” (Mortgage Professional America)
- Microsoft paves digital twins’ on-ramp for construction, real estate “To gain a foothold in the field, Microsoft partnered with RealEstateCore, a Swedish consortium of real estate owners, tech companies, and research groups, to integrate these services with various industry standards. Making a Smart Building RealEstateCore ontology for Azure Digital Twins enables the various parties in building markets — owners, construction teams, and vendors — to collaborate and communicate about real estate.” (Venture Beat)
- Pandemic Takes a Toll on Compensation Packages for LA’s Top CEOs “Executives at commercial real estate operators, for instance, were hurt by empty offices, deserted shopping malls and food courts and lost foot traffic at retail outlets. Hollywood execs, meanwhile, suffered from a pause in production work and locked doors at movie theaters. On the other hand, some C-suite types saw gains as a result of Covid-19.” (Los Angeles Business Journal)
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