What I’m Reading
Back to School: BREIT’s insatiable appetite continues with its just-announced purchase of student housing REIT American Campus Communities. Wall Street Journal
Boomtown: A massive population influx has set off a boom in South Florida’s industrial market. With low vacancies, scarce land and continued population and economic growth, its likely to continue. Wealthmanagement.com
The Big Split: The difference between the haves (new Class A) and have-nots (everything else) in the office market has never been starker. Class B and C owners will likely need to spend millions in capex in order to fill their buildings. Commercial Observer
Deep Cuts: Non-bank mortgage lenders continue to cut staff as the refinancing market dries up. New York Times
Good Whale Hunting: Amazon inked its biggest US warehouse lease yet – taking 4.1m sf in Ontario, CA. Bisnow So much for the ecommerce giant slowing its warehouse acquisition and leasing activity.
Chart of the Day
This is bullish for the rental market but rather depressing overall.
Source: Bloomberg
WTF
Frowned Upon: An elderly man was arrested after allegedly exposing himself and masturbating on a flight because Florida. NY Post
Here Kitty, Kitty: A man who was mauled by a tiger said that he entered its enclosure to feed it some chicken because Florida. WESH2
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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