REBusinessOnline

Retailers, Landlords Face Complications of Factoring Online Returns Into Gross Sales

With the rise of e-commerce, declining foot traffic in malls and shuttering department stores, retail landlords and brick-and-mortar tenants have faced a wave of challenges in recent years.  As a result, both landlords and tenants are constantly searching for new and unique ways to improve their bottom-line figures. One recent area where this has become an issue concerns in-person returns from online sales, and how they affect a retail tenant’s percentage rent calculation. [caption …

Unless Assessors Recognize Challenges of Shopping Centers, Property Taxes Will Rise

As retailers rise and fall in the age of Amazon, property taxes remain one of retailers’ largest operating expenses. That makes it critical to monitor assessments of retail properties and be ready to contest unfairly high taxable valuations. Assessors — and property owners attempting to educate those assessors — must understand how the changes taking place in the retail sector affect property value. Assessors must adjust their models to reflect new market realities, and property owners …

Maverick Gaming Agrees to Buy Eldorado Shreveport Resort Casino for $230M

SHREVEPORT, LA. — Eldorado Resorts Inc. has agreed to sell the Eldorado Resort Casino Shreveport, located on the banks of the Red River in Shreveport in the northwest corner of Louisiana. Maverick Gaming LLC will purchase the asset for $230 million. The property features 400 hotel rooms, six restaurants, two nightclubs, 1,400 slot machines, 50 gaming tables and a full-service spa. The transaction is scheduled to close in the first half of this year, prior to or at the same time as …

Blueprint Arranges Sale of 185-Unit Assisted Living Community in Escondido, California

ESCONDIDO, Calif. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Las Villas Del Norte, a 185-unit assisted living and memory care community in Escondido. A publicly traded REIT sold the property for an undisclosed price. The buyer was a locally based and privately held real estate investment firm with experience repurposing senior care properties. Constructed in 1986 with an expansion completed in 2006, Las Villas Del Norte is situated in an affluent submarket …

Security Properties, Pacific Life Acquire Anthology Multifamily Asset in Metro Seattle for $163.3M

ISSAQUAH, WASH — Seattle-based Security Properties and Newport Beach, Calif.-based Pacific Life Insurance Co. have purchased Anthology, a 398-unit new construction multifamily property in Issaquah for $163.3 million. Located at 1610 Anthology Ave. NW, Anthology is situated 14 miles southeast of Seattle in the Puget Sound region. Anthology offers studio, one-, two- and three-bedroom apartments. Amenities include a two-story clubhouse featuring a game room with shuffleboard and billiards, …

OZ Architecture Designs WellAge Greeley Seniors Housing Community in Colorado

GREELEY, Colo. — OZ Architecture has completed design work on WellAge Greeley, a 71,000-square-foot senior living community in Greeley, approximately 55 miles north of Denver. Rocky Mountain Senior Housing is developing the 92-unit community, which WellAge will operate. The property sits on 3.5 acres and will offer independent living, assisted living and memory care. The community is scheduled to open in second-quarter

Aging-in-Place Technology Has Its Limits, Says a Reassuring InterFace Seniors Housing Panel

PHILADELPHIA — Will today’s emerging aging-in-place technologies, designed to help the elderly remain in their own home for a longer period of time, lead to significantly reduced demand for seniors housing? The question was a hot topic at the InterFace Seniors Housing Northeast conference last Thursday in Philadelphia following a recent front-page article in The Wall Street Journal under the following headline: “Boomers Want to Stay Home. Senior Housing Now Faces Budding …

Agencies, Lenders Ramp Up Loan Production for Affordable Housing Properties

There’s a human factor when it comes to working in the affordable housing industry. Kelly Frank, senior banker at KeyBank, recalls attending a ribbon-cutting ceremony for a scattered-site housing development where a woman came up to her in tears expressing how grateful she was to have a home in a safe neighborhood setting. The ability to make such a positive impact on someone’s life is one reason Frank loves the affordable housing business. “A lot of work is being done to bring …

Sports Entertainment Provides a Promising Future for Retail Real Estate

ATLANTA — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted …

Technology is Top-of-Mind for Multifamily Renters, Says NMHC Survey

WASHINGTON, D.C. — More and more renters are looking for apartments that feature high levels of technology, according to the 2020 Apartment Resident Preferences Report released by the National Multifamily Housing Council (NMHC) and research firm Kingsley Associates. The NMHC is a Washington, D.C.-based nonprofit organization serving the multifamily industry. The report was compiled through survey responses from nearly 373,000 renters living in 5,336 different apartment communities …

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