UWM goes public in whopper of a deal while Whoppers go on BK assembly line, Blackstone boosts lending pot, a professor is highlighted, and a medical REIT gets a checkup.
In Today's News
United Wholesale Mortgage, the largest wholesale mortgage lender and second-largest mortgage lender, announced today its plans to become a public company through a business combination with Gores Holdings (NASDAQ: GHIV). The transaction value of $16.1 billion makes UWM the largest special purpose acquisition company (SPAC) transaction to date.
Why it matters: UWM's move follows closely an IPO by Rocket Mortgage and that rival's move into the brokerage business itself. In today's hot mortgage market, both may merit serious investor attention.
Blackstone Group (NYSE: BX) closed this month on what The Wall Street Journal (subscription required) says is the largest real estate debt fund ever, "giving the investment firm plenty of cash to lend to property investors looking to go shopping during the coronavirus pandemic."
Why it matters: This new capital will be available to optimistic investors seeking bargains in distressed CRE markets reeling from the economic effects of COVID-19.
Collete English Dixon, executive director of the Marshall Bennett Institute of Real Estate at Roosevelt University in Chicago, is the first woman of color to lead a university real estate program in the United States.
Why it matters: In an interview with Nareit, Professor Dixon offers some timely insight like this: "If we are better at sharing that knowledge and providing access to those opportunities, we will see a more diverse industry going forward."
Today on Millionacres
Burger King, a Restaurant Brands International (NYSE: QSR) chain, has just revealed two new restaurant designs that feature conveyor belts to deliver orders to customers instead of having the burgers handed over, as well as outdoor seating, which health experts agree is far preferable to and safer than indoor seating.
Why it matters: Is this a whopper of a development? Millionacres' Maurie Backman looks at how adapting to change like this can help save a business and the rental income it produces for the commercial landlords who own the property.
Community Healthcare Trust is one of the smallest of the 17 real estate investment trusts (REITs) in the healthcare vertical, but that doesn't mean it can't be mighty to investors.
Why it matters: Millionacres' Matthew DiLallo explains here why this REIT rates special consideration despite its size and age. (It's only been around since 2015.) Diversification that has helped blunt the pandemic's effects is one big factor. Read this piece for others.
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