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Simon Moves To Give Up Philadelphia Mall, Canceled Deal Could Signal Fatigue, Relocation Plans Spell Trouble for DC Office Loan

Simon Moves To Give Up Philadelphia Mall, Canceled Deal Could Signal Fatigue, Relocation Plans Spell Trouble for DC Office Loan

By Mark Heschmeyer Simon Moves To Give Up Philadelphia Mall: Retail real estate investment trust Simon Property Group is working with lenders to turn the title over to its 1.21 million-square-foot Philadelphia Mills Mall rather than pay off debt that was set to come due this month. The property backs $103.7 million in outstanding commercial mortgage-backed securities debt spread […]

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Real Estate Stocks Soar to Best Day of Year on Rate Cut Bets

Real Estate Stocks Soar to Best Day of Year on Rate Cut Bets

By Norah Mulinda The stock market’s worst group notched its best day of the year as a cooler-than-expected inflation report stoked bets that the Federal Reserve will start cutting interest rates in September. Shares of real estate companies jumped 2.7% Thursday for their biggest gain of 2024, climbing to their highest level since March as investors snapped up homebuilder, digital and commercial […]

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Federal Reserve minutes: Policymakers saw a longer path to rate cuts

Federal Reserve minutes: Policymakers saw a longer path to rate cuts

BY CHRISTOPHER RUGABER WASHINGTON (AP) — After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high. Minutes of the May 1 meeting, released Wednesday, showed that […]

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Just How Big is the Wall of Maturities?

Just How Big is the Wall of Maturities?

By Erik Sherman According to Newmark, there is now a $2 trillion maturity wall of CRE loans facing banks over the next three years. A dizzying sum. “Banks will be under pressure,” CEO Barry Gosin told the Financial Times. As the FT noted, the brokerage handled $50 billion of loan sales for the Federal Deposit Insurance Corporation after […]

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Where did money come from?

Where did money come from?

By Steven Hail For the most part, economists continue to believe a story of money told to generations of students by a series of textbooks over the past 150 years. This story asks us to imagine a pre-monetary barter economy, where people bought goods and services by trading them for other goods and services. Eventually […]

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