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Eight Must Reads for the CRE Industry Today (June 14, 2021)

The Wall Street Journal breaks down the ways companies are implementing hot desk arrangements as part of a more flexible office strategy. Commercial Property Executive reports that Savills has acquired T3 Advisors, a life sciences consultancy. These are among today’s must reads from around the commercial real estate industry.

  1. Done Working From Home? Prepare for More Hot Desks “But hot desks also mean extra time spent managing reservations, coordinating with teams and helping employees feel a sense of belonging without a dedicated spot for them in the office. Experts and workers say there are ways to optimize these spaces, including assigning desks to groups instead of individuals, planning schedules, designating areas for socializing and being extra-mindful of workers with special needs or disabilities.” (The Wall Street Journal)
  2. Savills Acquires T3 Advisors “Savills has acquired T3 Advisors, consultants for life sciences and technology tenants seeking strategic advice on their commercial real estate decisions. T3, which has offices in Boston, New York City, San Francisco, and Palo Alto, Calif., will rebrand as T3 Advisors, A Savills Company.” (Commercial Property Executive)
  3. Housing groups push for end to CDC eviction ban “Now, the industry coalition is calling for an end to the ban on evictions, saying that almost $50 billion provided in rental assistance by the Biden administration has help to bring many renters current. It added that the share of households making an annual income of $35,000 or less that have caught up on their rent has risen 11%, according to the latest Census Housing Pulse Survey.” (Realty Biz News)
  4. Private Equity’s Biggest Tax Tactics “’If the I.R.S. started staffing up now, it would take them at least a decade to catch up,’ said Monte Jackel, a former I.R.S. attorney. Because buyout firms deploy vast webs of partnerships to collect their profits, untangling these structures’ tax liabilities is notoriously tricky for tax inspectors. ‘They are so grossly overmatched it’s not funny,’ Jackel said.” (The New York Times)
  5. Real estate industry confidence skyrockets as commercial deals rebound “After an upside-down year of stalled investments, renegotiations of office leases, low residential rent collections and mixed results for retail (grocery and convenience stores thrived, while mom-and-pop shops and restaurants went belly up), the real estate industry is focused on making commercial spaces inviting for employees and customers.” (New York Post)
  6. Amazon, faced with criticism over warehouse employee injuries, tests new tech to make moving packages safer “The company said in a post that its robotics and advanced technology teams are testing and developing new projects, like one project in early development that involves using motion-capture software to asses employees' movement.” (Insider)
  7. Mystery Buyer Targets World Famous Selfridges For $5.6 Billion “While a deal to sell the iconic London landmark might be tempting at a time when physical retail has been severely hit by the global pandemic, it may also see the group’s assets under-valued at a point where there has been little opportunity for recovery.” (Forbes)
  8. The global head of Citi Ventures says real estate and wealth management offer 2 of the biggest tech investing opportunities right now “So far, Citi Ventures has invested in six proptech startups, like Roofstock, which diversifies distribution channels for buyers and investors of single-family residential properties, and Homelight, which generates leads on potential homeowners and sellers for realtors and mortgage brokers.” (Insider)
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