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November 22, 2022

Bally's Inks $500M Sale-Leaseback Deal For Chicago Casino Site

Deputy Mayor Samir Mayekar Discusses The Future Of The City Of Chicago Jan. 25

Bally’s Corp. has closed a $500M sale-leaseback transaction with an investor to acquire and develop the future site of Bally’s Chicago in a move the company says will push the project forward without the need to tap capital markets.

Bally's Inks $500M Sale-Leaseback Deal For Chicago Casino Site

Bally’s said Monday an unnamed Chicago real estate private equity firm had purchased the 30-acre former Chicago Tribune publishing center, the site of the future $1.7B casino, hotel and entertainment complex, for $200M and agreed to fund $300M in casino development.The Chicago Tribune identified the buyer as Oak Street Real…

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Private Equity Will Have To Work Harder To Win This Downturn

Private Equity Will Have To Work Harder To Win This Downturn  

Private equity firms were the big winners and made huge profits in the wake of the last major real estate downturn. This time around, they will need to find a new playbook. 

“Low economic growth and high interest rates is not a great recipe for real estate investment,” for buyers that use debt especially, MSCI Head of EMEA Real Estate Research Tom Leahy said. 

In Europe, private equity firms were net sellers for only the second time in the past four years, MSCI data showed. In the U.S., where rates rose sooner, these buyers turned net seller in the second quarter of the year, before becoming net buyers again in the third quarter. 

“You have to wonder whether some of these firms are sitting on the sidelines as they have issues financing deals,” Leahy added. After the 2008 collapse of Lehman Brothers, several factors fell into place for real estate private equity firms looking to make high returns.…

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Which Sustainable Roof Is Best For My Building? 'It Depends'

PRESENTED BY:   Klein & Hoffman
 
Which Sustainable Roof Is Best For My Building? 'It Depends'  

Here is something everyone can agree on: The market for sustainable roofs is big and getting bigger. Driven by factors ranging from building code requirements to concerns about climate change, nearly $1.5B was spent globally in 2019 on the submarket of sustainable roofs known as green or vegetative roofs.…

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Goldman Predicting U.S. Will ‘Narrowly’ Escape Recession, Even As Banks Tighten Lending

Goldman Predicting U.S. Will ‘Narrowly’ Escape Recession, Even As Banks Tighten Lending  

Goldman Sachs is pegging chances of the United States entering a recession in the next year at 35% and predicts interest rates will hold steady next year. The UK and Europe are already in recession due to the hit to real…

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