• Controllers, Drive Your Professional Development: Attend CHCC 2018

    Club and hotel controllers: Do not miss the opportunity to get behind the wheel and take control of your own professional development. The Club and Hotel Controllers Conference (CHCC) — co-located with the world’s largest hospitality technology show HITEC® Houston at the George R.

  • Paycheck Checkup: The IRS Encourages Taxpayers to Review Withholdings

    April 17, 2018: Tax day in the United States has come and gone. Individual taxpayers have filed all of their paperwork, and have either paid up the amount owed to the United States Internal Revenue Service (IRS) or deposited their refunds in their bank accounts.

  • Is the Lodging Industry Ready for a 12th Edition of USALI?

    The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) went live on January 1, 2015. This edition presented multiple updates such as changes to the way customers were reported in food outlets, new rooms revenue and demand segmentation, gross versus net reporting, and the addition of a new schedule, Schedule 6 — Information and Telecommunications Systems.

  • What to Expect at HITEC Houston 2018: Elite Education, Exhibits, E20X and More

    HOUSTON: A booming cosmopolitan city that is home to more than 2 million Texans, NASA’s famous Johnson Space Center, and — in just two short months — the world’s largest hospitality exhibition HITEC®.

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New York Plaza Hotel Buyers Ashkenazy, Alwaleed Sue Owner

National Real Estate Investor (NREI)·21 May 2018
The clash between the investors is another twist in a years-long sales process for the 111-year-old building at the corner of Fifth Avenue and Central Park South.
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CBRE's Head of Americas Research Offers a Contrarian View on Retail REITs

National Real Estate Investor (NREI)·21 May 2018
Spencer Levy cautions that industrial and multifamily will confront short-term supply headwinds, and stresses that retail has been unfairly pummeled.
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Stay, Shop. Marriott Expands Its Partnership with Simon.

National Real Estate Investor (NREI)·18 May 2018
Shopping malls, according to a Marriott release, “are increasingly becoming ideal hotel destinations, offering consumers amenities steps from their room and providing both companies a powerful combination that optimizes real estate values.”
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Demand for U.S. Rental Houses Spurs Tricon Plan to Double Assets

National Real Estate Investor (NREI)·16 May 2018
Tricon Capital Group Inc. has become the third-largest publicly listed landlord of U.S. single-family rentals by snapping up homes from Arizona to Florida.
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10 Must Reads for the CRE Industry Today (May 16, 2018)

National Real Estate Investor (NREI)·16 May 2018
Investors have been giving REITs, which have underperformed for the past two years, another look, the Wall Street Journal reports. Retail rents in New York have dropped in some corridors over the past year, according to the New York Post. These are among today’s must reads from around the commercial real estate industry.
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10 Must Reads for the CRE Industry Today (May 15, 2018)

National Real Estate Investor (NREI)·15 May 2018
Markets are now pricing in four interest rate hikes this year, CNBC reports. Cities are recycling their pitches for Amazon’s second headquarter to attract new businesses, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
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Is Proximity to Mass Transit Becoming Less of a Draw for Apartment Renters?

National Real Estate Investor (NREI)·15 May 2018
In the few years since companies like Uber and Lyft began to offer their ride sharing and carpooling options to riders in San Francisco, the premium earned by apartments near mass transit has
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The Time May Be Right for More M&A in the REIT Sector, Analysts Say

National Real Estate Investor (NREI)·15 May 2018
There are several large proposed REIT mergers in the books already in 2018, but analysts in the space say the activity may not be done yet.
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Five Ways Technology Is Shaping CRE Property Management

National Real Estate Investor (NREI)· 8 May 2018
The commercial real estate industry is not usually first thought of when it comes to technological advancements. But slowly, that is changing. Increasingly, technology is helping property management firms automate systems and processes, and improving tenants’ experiences.
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Women Professionals in CRE Face Pay Disparity, Fewer Promotions

National Real Estate Investor (NREI)· 8 May 2018
This is part two of NREI's two-part study on the prevalence of sexual harassment and discrimination in the commercial real estate industry. Read part one here. A significant percentage of women continues to struggle with discrimination when it comes to pay and professional opportunities in the commercial real estate industry. The majority of NREI survey respondents (72.7 percent) said that sexual discrimination, including getting a lower salary than someone of another gender or sexual orientation doing the same job and getting passed over for assignments and promotions, occurs in the industry. (Overall 57.6 percent of male respondents said it occurs vs. 92.1 percent of female respondents.)
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Study: Dallas-Fort Worth a Top Market for Real Estate Investors

National Real Estate Investor (NREI)· 7 May 2018
An expanding population, pro-business environment and growing number of headquarters are luring investors to put their money in North Texas real estate. In a survey conducted by CBRE (NYSE: CBRE), Dallas-Fort Worth ranked second in the Americas for real estate investor interest, attracting foreign and domestic investors. Canadian investors are particularly interested in the area, funneling $326.2 million into North Texas over the past 12 months.
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Single-Asset Sales Pick Up in the First Quarter, But Dollar Volume Shows a Downward Trend

National Real Estate Investor (NREI)· 1 May 2018
Investment sales volume lagged in the first quarter, possibly as a result of investors’ concerns over the cost of financing. Data from research firm CoStar indicates that investment sales dropped 10 percent year-over-year—or about $13 billion—continuing a trend from 2017. Experts had already anticipated that the first quarter might be slow. Compared to the fourth quarter, sales volume dropped 26.0 percent. The fourth quarter is typically the strongest for investment sales.
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Small Loans Bust Agency Financing Myth

National Real Estate Investor (NREI)· 1 May 2018
It’s a common refrain from owners of small multifamily properties when a broker suggests using agency financing like Freddie Mac, according to Joe Back, vice president of FM Capital, a Florida-based commercial broker. In Back’s experience, small multifamily property owners shy away from agency loans because they expect a slow, difficult process but this perception may be more myth than reality.
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Rich Turn to Crowdfunding for Properties From Offices to Hotels

National Real Estate Investor (NREI)·24 April 2018
Real estate fund managers Michael Episcope and David Scherer had Georgia on their minds—specifically, Atlanta. The city, part of the third-largest-gaining metro area in the U.S. last year, according to Census Bureau data, was only getting hotter. So when the co-founders of real estate investment company Origin Investments spotted an opportunity last year to purchase a 125-unit apartment complex, they jumped on it. The property’s location, in Virginia-Highland, an affluent Atlanta neighborhood that’s home to organic shops, cocktail bars, and an indie film theater, was great. Yet Episcope and Scherer had a problem. They reckoned it would take about $19 million in equity to buy the building and an adjacent undeveloped lot, but they wanted to invest only $12 million. Their solution was somewhat novel: Instead of bringing in a partner, Origin brought in dozens of them.
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Where Are HNA Properties in the U.S.?

National Real Estate Investor (NREI)·18 April 2018
The real estate arm of HNA Group, a Chinese conglomerate primarily focused in the aviation industry, is said to be marketing some $4 billion worth of U.S. real estate to sell—many of the properties acquired by the firm over the last two years. The sell-off comes amid increased pressure from the Chinese government for HNA to liquidate its assets after it borrowed a lot of money for a massive acquisition spree. Anbang Insurance Group is another Chinese firm reportedly looking to sell assets. Aside from seeking to sell some of its U.S. properties, HNA Group has also sold its interests in hotel chain Hilton and Parks & Resorts, a Hilton spin-off. Using news reports and publicly available information, NREI mapped out some of HNA Group’s U.S. holdings here.

Blackstone Is Said to Begin Marketing 15 U.S. Hotel Properties

National Real Estate Investor (NREI)· 9 April 2018
Blackstone Group LP is in the early stages of marketing a group of select-service hotels, according to people with knowledge of the matter. A sale of about 15 U.S. properties would be part of the ordinary course of managing a large portfolio, said one of the people, who asked not to be identified because the process is confidential. While it’s unclear how much the properties may fetch, American Hotel Income Properties REIT LP paid $407.4 million for 18 premium-branded select-service hotels last June. A Blackstone representative declined to comment on plans to sell the hotels.

The Key to New Trends in Tech and Design

National Real Estate Investor (NREI)· 3 April 2018
The days we felt like commercial real estate didn’t change often have come and gone. While cost and location are always crucial to your prospective tenants’ decision-making, value is playing an even bigger role. And the definition of “value” is changing, as tenants are willing to spend more on next-generation technology in order to streamline operations and invest in workspace enhancements to attract and retain a pool of talented employees.
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Investor Interest in Self Storage Remains High

National Real Estate Investor (NREI)· 3 April 2018
Institutions continue to invest in self-storage assets, paying high prices for properties and partnering on new developments. “There’s been tremendous activity from high-end, institutional-level capital that is entering or attempting to enter the space,” says Brian Somoza, managing director with JLL Capital Markets. “That’s been driving a fair amount of acquisitions.” Developers plan to open new self-storage properties totaling millions of square feet in 2018. New customers are expected to rent up most of this new space, keeping average occupancy rates high and property incomes strong. With fundamentally strong demand, institutional investors keep paying high prices for properties even though buyers may take longer to close deals and are buying less than they did in 2016.

Research Illustrates Four Types of Asset Management

National Real Estate Investor (NREI)·28 March 2018
Much has been written in this space about the working relationship between asset and property managers. That conversation took major strides recently as the Institute of Real Estate Management hosted its third annual Commercial Summit at the Peninsula Hotel in Manhattan. That forward movement came in the form of a question: What steps can property and asset managers take to better understand the challenges and needs each side deals with? The question was posed by Dustin Read, PhD/JD, assistant professor of property management and real estate at Virginia Tech. Read has been working for more than 18 months with IREM on an exploration of the relationship between the two separate but so closely tied disciplines with the goal of establishing better understanding between the two.
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Taking Advantage of New Tax Laws Will Require Structuring Your Business the Right Way

National Real Estate Investor (NREI)·27 March 2018
Tax reforms introduced as the Tax Cuts and Jobs Act and signed into law last December are generally agreed to be the most comprehensive in more than three decades. They include several major changes affecting real estate investment. In general, these changes are beneficial to real estate professionals and investors. To reap the maximum benefits, however, it’s important to understand how best to structure your business in light of these new provisions of the law.
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Publix: Where Real Estate Investing is a Pleasure

National Real Estate Investor (NREI)·23 March 2018
Publix Super Markets isn’t just one of the nation’s top grocery chains, it’s also becoming a major real estate investor, buying up its own stores and self-anchored shopping centers when they hit the market. The Lakeland, FL-based retailer has been steadily increasing its ownership of retail real estate and currently owns 371 of its 1,167 stores, or nearly a third, according to the company’s 2017 annual report.
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Six Takeaways from NYU Schack Institute's 23rd Annual REIT Symposium

National Real Estate Investor (NREI)·21 March 2018
The discount to NAV that public REITs are trading at—despite the strength of the private real estate investment market—was a major topic of discussion at the 23rd Annual REIT Symposium, hosted by New York University’s Schack Institute of Real Estate. Many of the event’s panelists shared their thoughts on the reasons behind the trend, but, as CEO of New York REIT Wendy Silverstein noted, the NAV gap is “a hotly debated topic with no obviously right or wrong answer.” Here are some key takeaways from the event, which was held Tuesday at The Pierre hotel in New York City.
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Survey Says Agility, Reduced Real Estate Costs Among the Biggest Advantages of Flexible Office Space

National Real Estate Investor (NREI)·16 March 2018
A new survey from The Instant Group, a workspace innovation company, and the global architectural firm HLW, asked co-working operators, landlords and corporate and private occupiers how a flexible workspace approach impacted their businesses. The survey, based on more than 500 responses, found that companies using flex space felt agility was the greatest value, allowing them to assign employees to a space on short notice, as well as easily expand or reduce the amount of space at any site when needed. They also cited added benefits, including reduced real estate costs, flexibility and greater productivity.
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HNA's Purge of Hilton Spinoffs Triggers Talk of What's Next

National Real Estate Investor (NREI)·15 March 2018
Troubled Chinese conglomerate HNA Group Co. has sold out of two Hilton-related companies so far this month. Now, investors are wondering whether Hilton Worldwide Holdings Inc. is next.
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Dead Malls Are Alive and Well in Wall Street's CLO Debt Machine

National Real Estate Investor (NREI)·12 March 2018
American shopping malls may be dying, but their debt is still very much alive. Consumer discretionary companies are the biggest bet of funds that repackage leveraged loans, which use them in almost a quarter of the collateral underpinning $213 billion of bonds covered by S&P Global Ratings, according to the firm. Demand for those notes helped spur a 65 percent increase in issuance in 2017. Yet with such a heavy weighting, CLOs risk getting caught in the “retail apocalypse.”
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Las Vegas Sands Sells Casino in Pennsylvania for $1.3 Billion

National Real Estate Investor (NREI)· 8 March 2018
Las Vegas Sands Corp. has sold its casino in Bethlehem, Pennsylvania, for $1.3 billion, almost a year after a potential deal with MGM Resorts International fell apart.

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