Public sector investors will increase their allocations in real estate and infrastructure, but reduce exposure to government bonds, according to an annual survey by the Official Monetary and Financial Institutions Forum. About 24% will increase real estate investment in the next 12 months and 37% will put more money into infrastructure during the same time period, but 26% are cutting their allocation to government bonds in developed markets. The finding reflects the trend, pursued in earnest over the last 18 months, of investors chasing higher yield. About 15% said low returns were among their biggest concerns, compared to 16% citing geopolitical risk. (Via Reuters)
At least 250 combined stores of retailers Ann Taylor, Dress Barn, Loft and Lane Bryant will close by 2019, and that number could reach 650, according to CEO David Jaffe of Ascena Retail Group, which owns the chains. Jaffe told investors in a conference call that “persistent traffic decline” has plagued the group’s stores. Ascena is not specifying which retailers and locations the store closings will affect. Although Ascena confirms 250 will definitely shutter, another 400 stores are currently being evaluated. (Via CNN Money)
The top cities for industrial sales volume thus far this year are Dallas-Fort Worth, Los Angeles, San Jose and Houston, according to commercial real estate services firm Colliers International. North New Jersey rounded out the top five. Industrial real estate is the only asset class to see year-over-year growth in sales volume as of first-quarter 2017, Colliers said. (via Houston Chronicle)
More News to Note:
Retail Building Sprees Underway in Cities That Cannot Sustain Them
Miami Moves Forward on Creative Deal Structure for $465M Riverfront Project
Detroit Lawyer Launches Program to School Residents in Real Estate Investing
