The 84-year-old billionaire, who also owns Treasure Island – now rebranded as TI – agreed in October to acquire the 4,000-room hotel-casino and surrounding land on the north end of the Strip from MGM Resorts International.
Read Full Article: https://www.soloazar.com/en/v/casino/236005_Phil-Ruffins-acquisition-of-Circus-Circus-Las-Vegas-for-825M-approved-by-Nevada-gaming-regulators
Two years after the opportunity zone program became law, the final round of regulations about how they will be implemented has been released to the public.
The Treasury Department and the IRS published the 544-page document Thursday afternoon with a number of substantial changes and additions from previous iterations of guidance. Treasury Secretary Steven Mnuchin said in a statement that the new regulations will provide "clarity and certainty" to investors that will allow for more capital to flow into opportunity zones.
Read Full Article: https://www.bisnow.com/national/news/opportunity-zones/treasury-irs-opportunity-zone-regulations-final-round-102322
WeWork has entered the next phase of its cost-cutting under SoftBank Group's stewardship.
The coworking startup is looking to back out of as many as 100 newly signed leases, which would be at least 10% of its global footprint, The Information reports. New leases were among the biggest expenditures for WeWork in the third quarter, when it reported a loss of $1.25B after its IPO saga resulted in the removal of co-founder Adam Neumann as CEO.
Read Full Article: https://www.bisnow.com/national/news/coworking/wework-backing-out-leases-selling-conductor-managed-by-q-102225
Could cap rates go below 2% for the best assets in big cities? Could some retail assets start to outperform their stellar industrial counterparts? Will climate change continue to rise in importance for investors?
Each December the strategy and research team at UBS Asset Management outlines what it thinks will be the key questions the global real estate industry will need to address in the coming year. At a point of big change for the sector, the future of real estate, how to allocate capital in an expensive market, what to do with a problem like retail and addressing the climate crisis feature prominently.
Here are the issues to get your head around next year if you want to succeed in real estate.
Read Full Article: https://www.bisnow.com/london/news/commercial-real-estate/the-10-key-questions-for-real-estate-to-grapple-with-in-2020-102161
The 30+ days CMBS delinquency rate continued its downward trend in October 2019. The all-property delinquency rate fell to 2.47 percent during the month, according to Trepp, a decline of 4 basis points from the month before and 95 basis points from the year-ago period. Fitch Ratings estimates that the all-property CMBS delinquency rate fell 3 basis points in October, to 1.66 percent.
Read Full Article: https://www.nreionline.com/cmbs/cmbs-delinquency-rate-dips-october
One useful strategy is for the CEO to have a 30-minute call with each Board member individually before a Board meeting, previewing what will be presented at the meeting. This will allow the CEO to inform the members in advance and obtain advice that might impact what is actually presented at the Board meeting.
Read Full Article: https://www.allbusiness.com/startup-lessons-ceos-founders-124564-1.html/2
There are several contributing authors here.