It seems appropriate to discuss ethics fresh on the heels of the mid-term elections, a contest that always seems to cloak rampant self-interest in the suit of guiding principles.
Colony Financial Inc. (CLNY) agreed to buy Cobalt Capital Partners, owner of 256 industrial properties across the U.S., for about $1.6 billion. One New York startup has a small-scale plan for real estate IPOs: taking individual buildings public. RCS Capital CEO Michael Weil is putting his money where his mouth is. Weil purchased 20,550 shares—worth about $250,000—of the company’s stock on Tuesday. These are among today’s 10 must reads from around the commercial real estate sector.
Office landlords have started to shift back into the driver’s seat across the world, according to a recent Cushman & Wakefield study. Though some political instability and pockets of overbuilding keep expectations from soaring too high, the general consensus is that most markets will gain rents and occupancy by 2016.
Although the big question still remains as to when the new rules will become effective, companies are already preparing for the new requirements.
City Hall is considering a proposal that could take advantage of a soaring luxury real-estate market by raising the tax on top-priced apartment sales, according to people familiar with the matter.