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Nine Must Reads for the CRE Industry (Feb. 27, 2021)

BentallGreenOak entered into an agreement to acquire Metropolitan Real Estate from The Carlyle Group, reports Commercial Property Executive. Morgan Properties is acquiring a $1.75 billion multifamily portfolio, according to These are among today’s must reads from around the commercial real estate industry.

  1. BentallGreenOak to Buy Metropolitan Real Estate “BentallGreenOak’s string of 2021 acquisition deals continues, this time with the planned purchase of Metropolitan Real Estate Equity LLC. BentallGreenOak has just entered into an agreement to acquire the multi-manager real estate private equity investment platform from The Carlyle Group Inc. for an undisclosed figure. Metropolitan will bring more than $2.4 billion in assets under management to the table.” (Commercial Property Executive)
  2. Morgan Properties, Olayan Acquire $1.75B Apartment Portfolio “The North Star portfolio consists of 48 apartment communities and 11 states, including Florida, Texas, Georgia, North Carolina, South Carolina, Louisiana, Michigan, Illinois, Indiana, Ohio and Maryland. The acquisition allows Morgan Properties and Olayan America to establish a foothold in Florida, Texas, Georgia, Louisiana and Michigan.” (
  3. Eviction Moratorium Deemed Unconstitutional by Federal Judge in Texas “Even though some will be inclined to dismiss the ruling as politically-motivated (Barker was a Trump nominee), recall that it was the Trump Administration that first launched the eviction freeze. It initially ran through December 31, and covered tenants who gave their landlord a declaration attesting that the made less than $100,000 a year, had suffered a large hit to their income, were seeking assistance and would pay as much rent as they could.“ (Naked Capitalism)
  4. Real Estate Equity Strategist Lists Her Favorite 2021 Picks “Nina Jones, CPA, is the portfolio manager for the Global Real Estate Equity and U.S. Real Estate Equity Strategies at T. Rowe Price. She is also chairman of the Investment Advisory Committee for the U.S. Real Estate Equity Strategy…. In this 3,276 word interview, exclusive to the Wall Street Transcript, Ms. Jones picks out the reboounding Real Estate equity stocks she likes for 2021.” (
  5. What companies can do to speed up board diversity “Companies often point to the fact that they can add diverse candidates only when board seats open up. However, there’s nothing obligating board members to keep nominating themselves at the end of their typically one- to three-year terms. Of course, having a seat on a board comes with a lot of perks, such as pay and stock options, so board members are loath to give that up.” (Recode)
  6. Sephora to open 60-plus freestanding U.S. stores in 2021 “The beauty giant will open more than 60 freestanding “client-centric” stores and 200 locations in Kohl’s stores this year. Sephora will begin to open the standalone stores this month, with locations planned across the Pacific Northwest, Florida, Texas (Dallas, Austin and Houston), Los Angeles and Nashville.” (Chain Store Age)
  7. Victoria's Secret to close as many as 50 more stores this year “The company continues to move away from enclosed malls, with plans to close another 30 to 50 Victoria's Secret stores in North America this year, according to an investor presentation. L Brands will also shift more Bath & Body Works stores to off-mall locations, where comps are double, conversion is higher and operating costs are lower, executives said on a Thursday conference call.” (Retail Dive)
  8. Atop the McGraw-Hill Building, the Name Stays “In the case of the McGraw-Hill Building, the intangible identity is tangibly integrated into the very masonry of its north and south facades, in an uncommonly prominent manner. And for some neighborhood residents, the durability of the terra-cotta name on that crown helps impart a reassuring constancy to the building, making it feel like a reliable old friend in an ever-changing cityscape.” (The New York Times)
  9. Cuomo’s New Nursing Home Rules Still Keep Many Families From Visiting Loved Ones “But, according to the fine print, families must abide by the same rule that had been in place, namely that any time a new COVID-19 case is detected at a nursing home, in-person visits are pushed back 14 days, meaning many families aren’t likely to see their loved ones any time soon.  Of the 610 nursing homes in the state, about a third of them are eligible for visitation, according to the Health Department.” (Gothamist)
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