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NEW YORK CITY—With recent IRS guidance and the PATH Act mitigating against the REIT spin-off route, Fitch Ratings sees MGM Resorts and Macy's taking a different path.
A CEO of a real estate investment management company wonders what's going on: "Should we be worried? Can you believe the outrageously high appraisals? It's all cap rate driven." The stock market has gyrated in a narrow range, but now trends decidedly lower. Analysts are worried that the market is overpriced as the world economy slides on the slick of well-deserved concern about China. …
MALDEN, MA—Mack-Cali Realty Corp., subsidiary Roseland has acquired the interest of a former joint venture partner in the 377-unit Chase at Overlook Ridge complex here.
CHICAGO—At the start of 2016, good fundamentals, including falling unemployment rates, low interest rates and higher office absorption bode well for commercial property owners, according to a new report from Transwestern.
SAN FRANCISCO—Rentlytics, a technology platform for owners and managers of multifamily real estate assets, has received Series A funding. The $9.1 million round led by Walker & Dunlop includes additional participation from both new and existing investors, including Grey Wolf. Rentlytics will use the strategic investment for additional product development and market expansion. …