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Monthly Archives: December 2016

2016 Another Banner Year for Commercial Real Estate

For all its ups and downs, U.S. commercial real estate enjoyed another banner year in 2016, thanks in large part to the unprecedented run in multifamily rents and property values and the fact that the U.S. continues to be viewed as a ‘safe haven’ by gl…

As Good as it Gets? Peaking Hospitality Sector Facing Mixed Outlook from Rising Supply, Growing Influence of Airbnb

In its latest outlook for the U.S. lodging sector, CBRE Hotels’ Americas Research notes that the sector will continue to accrue benefits next year from achieving the industry’s all-time record occupancy record in 2016 of 65.4%.

However, a range of expected factors, from new hotel supply entering the market to the growing influence of Airbrb, is expected to impact hotel returns in 2017. New hotel openings will jump to 1,056 properties totaling…

CPPIB Nets Almost $1 Billion Selling 45% Interest in 1221 Avenue of the Americas

The Canada Pension Plan Investment Board (CPPIB) sold its 45% ownership interest in 1221 Avenue of the Americas for $1.03 billion. CPPIB said it pocketed net proceeds of $950 million before closing adjustments.

CPPIB only identified the buyer as a “global institutional investor.” However, sources familiar with the transaction told The Real Deal that China Investment Corp., a Chinese sovereign wealth fund, bought the stake through Atlanta-based…

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