Kushner Companies investigation, Portland on the rise and more in CRE

Kushner Companies investigation

Jared Kushner is the senior White House advisor and part of Kushner Companies. Kushner Companies is currently under an initial investigation by Maryland’s Attorney General over accusations of poor apartment maintenance. His role in the White House and his family real estate company is seen as a conflict of interest by many.

Consumers dip into savings

Consumers begin using savings after natural disasters hit. Recent natural disasters led economists to assume spending would decrease. However, that was not the case because instead of not spending, people dipped into savings. Consumer spending accounts for 70% of the American economy, but reliance on savings is not a dependable form of economic growth.

Portland on the rise

Recently graduated millennials should consider Portland as their new home. The city of roses was just named #19 on Forbes’ Best Places for Business and Careers. Startups and other tech companies have all flocked to Portland and helped the city’s growth.

Blackstone invests $500 million in warehouses

New York-based private equity firm, Blackstone, buys $500 million worth of buildings. In total, Blackstone purchased 4 million square feet from Principal Real Estate Investors. The properties are mostly warehouses in Southern California. The purchases are a preemptive buy to keep up with the growing success of the company.

Japan preps for tourism spike

Trinity Investment’s LLC has plans for a new hotel aimed at business and leisure travelers. Japan’s newest hotel venture, Nikko Style, is slated to open in 2020. Japan wants to open Nikko Style in time for the Olympic games to keep up with tourism.

Manafort accused of money laundering

Manafort indicted for 12 counts on the Mueller investigation. Special Counsel Robert Mueller accused Manafort of money laundering and not filing taxes. Most know Paul Manafort for his political presence however recently he has had a hand in many real estate deals. This investigation may cause him to lose his new New York and Virginia properties.

Rent-A-Center wants to sell

Rent-A-Center wants to sell its 2,500 stores. Not all board members are in favor of this decision which is why Steven Pepper recently resigned. The rent to own furniture and electronics store believes it is a good candidate for an acquisition. J.P. Morgan is currently the financial advisor for Rent-A-Center.