- Masks Come Off, Mandates Loosen as Companies Relax Covid-19 Protocols “The new protocols in many cases follow updated guidance from health authorities, who have moved away from blanket preventive measures in favor of a more targeted approach focused on limiting infection and severe illness in high-risk areas. Infections have edged up again in the U.S. and the Omicron BA.2 variant accounts for more new Covid-19 cases.” (The Wall Street Journal)
- Pandemic Led Major Investors To Dip Their Toes Into Data Centers. Now They’re Diving In “Experts say the increase in investment volume brought on by the pandemic was dramatic, particularly throughout 2020 and the first half of 2021. Data center REITs surged on public markets, and real estate investors who had typically been reluctant to dabble in the highly technical and specialized data center market attempted to find inroads.” (Bisnow)
- Why Institutional Capital is Critical for Skilled Nursing, Despite White House Rhetoric “While institutional capital is critical to many of the key players in the space, some capital providers say newer owner-operators will have a hard time getting the necessary funding for entry into the SNF space. That’s despite pressure from the Biden administration and closer scrutiny from federal agencies around private equity and institutional investors like real estate investment trusts (REITs).” (Skilled Nursing News)
- Are oligarchs hiding money in US real estate? Ownership information is a missing link, research says “While the Treasury said that the measure has provided valuable information about suspicious purchases, the studies say there is no indication that cash-only real estate buyers even tried to skirt the rules by purchasing houses below the price threshold or using trusts or other financial entities not covered by the policy.” (International Consortium of Investigative Journalists)
- NY real estate lawyer who stole millions from clients disbarred “Prosecutors said Kossoff misappropriated more than $14.6 million from at least 35 people and companies, which he admitted to in his plea agreement, New York’s Appellate Division, First Department said in its Thursday order disbarring Kossoff.” (Reuters)
- Starbucks Suspends Buybacks to Invest in Operations as Schultz Returns “Starbucks previously halted share repurchases in 2020 after the Covid-19 pandemic hurt its business. The company told investors in October that it would make a new authorization of $20 billion in dividends and buybacks over three years. About two-thirds of that spending would go to share repurchases, the company said at the time. Starbucks in February issued $1.5 billion in debt for corporate purposes that included buybacks.” (The Wall Street Journal)
- Unlicensed marijuana dispensaries multiply in New York City despite warnings from state regulators “But since New York legalized marijuana for adult use last March and lowered the penalties for unlawful sales, it’s also become increasingly easy to pick up a pre-rolled joint or bag of gummies from a store. That’s the case even though the first licensed dispensaries aren’t supposed to open until the end of 2022. Some shops point to loopholes in the law to make the case that they’re operating legally.” (Gothamist)
- Related Modifies $1.2B Loan on Hudson Yards Mall “Deutsche Bank and Bank of China were also the construction lenders on the 1 million-square-foot retail asset in 2015, providing a $1.5 billion loan. The debt was later refinanced, and its terms modified earlier this month. In total, 14 lenders make up the lending syndicate on the existing debt.” (Commercial Observer)
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