The Real Deal - New York Real Estate News

Taubman’s $475M Mall of San Juan gets “knocked out” after reopening

Posted: 08 Aug 2020 09:00 AM PDT

The Mall of San Juan, in Puerto Rico’s capital, opened to great fanfare in 2015. But the last five years haven’t been kind to the $475 million upscale shopping center, which has grappled with retail bankruptcies, natural disasters and the coronavirus pandemic. Today more than a third of the 631,000-square-foot mall is empty and the property will soon lose its last remaining anchor store, Nordstrom, according to Bloomberg. The mall’s rising vacancy and mounting financial

Invitation Homes may double its single-family portfolio

Posted: 08 Aug 2020 06:00 AM PDT

Single-family rental giant Invitation Homes Inc. is looking to take advantage of low mortgage rates and growing preference for more space over tighter urban living. The publicly traded company raised $448 million in a share sale in June and plans to use two-thirds of that to buy more properties, according to Bloomberg. CEO Dallas Tanner said that “housing fundamentals are spectacular in the U.S. right now.” “We can certainly handle much more scale on our