Walker & Dunlop and JLL show their acquiring ways, an office REIT for September, Biden administration makes affordable housing moves, Miami disaster site for sale.
Today on Millionacres
Walker & Dunlop Just Made a Big Acquisition
Walker & Dunlop (NYSE: WD) is acquiring affordable housing specialist Alliant Capital and its affiliated businesses for a total of $696 million, continuing the dramatic growth of this multifamily commercial real estate finance company.
The Millionacres takeaway: Our Matt Frankel writes that CEO Willie Walker has made it quite clear that his long-term vision is for Walker & Dunlop to become the premier commercial real estate player. Acquisitions like this can certainly help get it there.
JLL Buys Skyline AI: A Win for Investors?
Jones Lang Lasalle (NYSE: JLL) has acquired Skyline AI, a software development company that claims to "reinvent real estate investment."
The Millionacres takeaway: Our Kristi Waterworth explains why she can buy JLL's argument that using leading-edge analytics to limit the guesswork in real estate valuation can be a very big deal indeed.
1 Office REIT to Buy in September
For most investors, and particularly more conservative types, this isn't the right environment for the risk-taking the pandemic has created in office space investing. This is why sticking with an industry-leading name like Boston Properties (NYSE: BXP) is probably the best move today.
The Millionacres takeaway: Our Reuben Gregg Brewer explains why bigger is better here, both in terms of this real estate investment trust's (REIT) portfolio itself and where those properties are concentrated.
Also in Today's News
Biden Administration Announces Steps to Increase Affordable Housing Supply
The White House announced Wednesday several steps the Biden administration will take "to create, preserve, and sell to homeowners and nonprofits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market," the National Association of Home Builders says.
The Millionacres takeaway: The NAHB nods with approval toward the measures, especially as they apply to encouraging private financing in housing for the public good.
South Champlain Towers Site to Go to Highest Bidder
The site of the June 24 beachfront condominium collapse that killed 98 people is on the market and already has an expected minimum bid of $120 million. Plans do include a memorial near or adjacent to the Miami-area property.
The Millionacres takeaway: "Outside of the tragedy that has happened and the loss of life, this is a unique site," says one of the brokers. Indeed.