Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
In Brief: U.S. commercial lending surged in fourth quarter, By CBRE, Urban Land Institute
Key Excerpt:
“Despite concerns throughout the year regarding the direction of the global economy, U.S. capital markets remained favorable to borrowers in the fourth quarter (Q4) of 2016 due to low relative rates and abundant capital.”
Three Perimeter cities seek higher hotel tax for green space, trails, By Jessica Saunders, Atlanta Business Chronicle
Key Excerpt:
“A proposed hotel/motel tax increase would mean $800,000 annually to pay for trails and parks throughout Perimeter Center that for years have just been plans sitting on shelves, Dunwoody, Chamblee and Brookhaven representatives told Reporter Newspapers.”
Could Atlanta’s restaurant scene be close to capitulation? By Jarred Schenke, Bisnow
Key Excerpt:
“Restaurant sales volume grew just 0.7 percent in Q4 over the same period in 2015, according to a quarterly survey by Atlanta-based NetFinancials. And for the same period, restaurants across the country saw sales drop by more than 2 percent, according to data firm Black Box Intelligence, the fourth consecutive quarter of sales declines in the U.S.”
Apartment building developers pin their hopes on millennials, By Bendix Anderson, NREIOnline.com
Key Excerpt:
“The strong demand for apartments continues to surprise, so that even though the vacancy level is rising, it has done so very slowly so far. Developers have started construction on a large number of new apartments, but they are restrained by banks that are not eager to lend on new construction projects.”
REITs move higher in February, By Sarah Borchersen-Keto, REIT.com
Key Excerpt:
“Market watchers said fundamentals for the REIT industry remain healthy, as REIT returns tracked the broader market in February. The FTSE/NAREIT All REIT Index had a total return of 4.2 percent in February, slightly above the S&P 500 index’s return of 4 percent. Total returns of the FTSE/NAREIT All Equity REIT Index were 4.0 percent in February. The FTSE NAREIT Mortgage REITs Index produced a total return of 5.8 percent. The yield on the 10-year Treasury note fell 0.1 percent for the month.