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Eight Must Reads for the CRE Industry Today (Sept. 8, 2021)

As university campuses reopen, investors are pouring billions into student housing, reports The Wall Street Journal. Commercial Observer looks at the impact of the Terrorism Risk Insurance Act as the anniversary of the Sept. 11 attacks nears. These are among today’s must reads from around the commercial real estate industry.

  1. Students Are Going Back to Class, and Property Investors Want to House Them “With millions of students heading back to college campuses this month, some of the world’s largest property investors are pumping billions of dollars into buying and developing off-campus housing. Blackstone Inc., Brookfield Asset Management Inc. and other investors are offering student housing facilities that feature game and video rooms, fully loaded gyms, speedy Wi-Fi, and even swimming pools in some cases.” (The Wall Street Journal)
  2. Terrorism Risk Insurance Act Remains Long-Lasing Impact of 9/11 on CRE “The Terrorism Risk Insurance Act has provided the commercial real estate industry with a crucial backstop against losses suffered from external threats in the nearly two decades since its enactment following the terrorist attacks of Sept. 11, 2001. TRIA, which President George W. Bush first signed into law in November 2002, was designed as a mechanism, whereby the federal government would finance a portion of any property losses resulting from acts of terrorism that caused more than $100 million in damages — up to a cap of $100 billion.” (Commercial Observer)
  3. Here's How London’s Biggest Occupiers See the Future of Work “How London’s biggest corporate occupiers manage their workforce has huge implications for the office market of the UK capital. That's why Bisnow has compiled a handy list of the biggest tenants in the city with data from CoStar and Estates Gazette, contacted those companies to find out how they will be working in future, and supplemented entries with public statements and media reports. Combined, the list offers a comprehensive view of how big tenants are thinking about the office in the post-pandemic world.” (Bisnow)
  4. Trump Nears Deal for D.C. Hotel “Trump would sell the leasing rights to a real estate developer, who in turn would negotiate with hotel companies that would manage the property and rebrand it. Details of the deal’s terms aren't yet known but Trump’s representatives have been in talks with major hotel chains and investors. Trump, who initially tried to sell the leased federal property in the fall of 2019, declined Axios' request for comment.” (Axios)
  5. Almost 90% of CRE Brokers Are Back at The Office, Survey Finds “Most CRE brokers are in the office at least part of the time, Apto found.” (Bisnow)
  6. Skyscraper Queen Darcy Stacom Is the Country’s Top Real Estate Broker. But Staffers Say She Threw Things at Them, Berated Underlings and Made Employees’ Lives Miserable People described unprofessional outbursts from Stacom, who earns CBRE millions a year by trading trophy properties such as the Chrysler Building.” (Insider)
  7. Quick-Service Restaurants Create Delivery-Only Banners “A number of leading quick-service chains are reportedly launching brands that exclusively serve customers using third-party delivery platforms. According to CNBC, fast-food restaurants are extending their presence in the burgeoning on-demand meal delivery space via subsidiaries that do not have any physical presence, but offer limited menus targeted at digital customers.” (Chain Store Age)
  8. Amazon Has Ambitious Plans to Bring In-Person Medical Care to 20 More U.S. Cities “Amazon Care is expanding around the country, with plans to offer in-person care in cities like New York, Atlanta, Denver, tand Miami next year.” (Insider)
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