Commercial News for 8/2/14
WSJ.com: Commercial Real Estate
REITs Close the Door on Underwriters
A slowdown in equity deals in the REIT sector has crimped the fees of some Wall Street firms.
Home-Builder CEO Pay Rises
Total compensation for chief executives at the largest U.S. home-building corporations jumped 37% last year as sales and construction picked up, but stockholders didn't fare as well.
Gowanus Passes Sniff Test
The online-annotation company Genius is moving to Gowanus, where cheap rents and industrial architecture are luring some of the startups that had colonized many of Brooklyn's other hip neighborhoods.
IRS Blesses Telecom's REIT Turn
Windstream's plan to spin off some of its telecommunications assets into a real estate investment trust comes as more U.S. companies seek to lower their taxes.
General Electric's Finance Arm Bulks Up in Canada
The move to purchase a $530 million portfolio of commercial mortgages tied to 16 Canadian properties is part of its strategy to expand its debt business.
Noway Oil Fund Buys Boston Property
Norway's sovereign-wealth fund said it had acquired a 47.5% stake in an office property at One Beacon Street in Boston, in a joint venture with U.S. life insurer MetLife Inc.
Sunset Park Is Hefty Bet for Investors
The city and private developers are investing hundreds of millions of dollars to create a thriving industrial area on the Sunset Park waterfront, a throwback to the days when workers streamed into factories that lined Brooklyn's shores.