Policies outlaid by the Trump administration would not produce uniform effect on all sectors of commercial real estate, but some are interlinked closely enough to warrant watching, according to paper released by LaSalle Investment Management. Overhauling the Affordable Care Act could hamper healthcare real estate development in certain markets, for instance. Stricter immigration laws could dampen demand for both office leasing and multifamily housing. “We continue to track the ‘dance of legislation,’ ” notes Jacques Gordon, LaSalle’s Chicago-based global head of research and strategy. (Via Pensions & Investments)
Payless has settled a dispute with its creditors, Reuters reports, and could exit bankruptcy as early as August. Landlords and vendors make up the bulk of the shoe retailer’s creditors, and they had accused the shoe retailer’s private equity owners of siphoning hundreds of millions from the company. Payless’ settlement gives creditors $25 million during bankruptcy reorganization. Payless plans to renegotiate 3600 store leases during reorganization. (Via Reuters)
The north and eastsubmarkets of Los Angeles are bustling with CBD and adaptive reuse development, according to Yardi Matrix. About 70,800 job gains for the year ending in March amounted to 70,800, concentrated in entertainment, education, healthcare, technology and financial services. About $7B in transactions closed during the year ending in April. (Via Commercial Property Executive)
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