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U.S. Commercial Real Estate: A Favorite among Foreign Investors
Considerable press has been given lately to high-profile real estate acquisitions made by foreign investors, particularly those from China. China Life Insurance Group Co. recently purchased a $1.65 billion Manhattan office tower on Sixth Avenue; Anbang Insurance Group Co. bought Manhattan’s Waldorf-Astoria Hotel for $2 billion; and Chinese real estate giant Greenland Group is midway through the acquisition of a massive, $1 billion mixed-use project in downtown Los Angeles called “Metropolis.”
US Draws Ever-Larger Share of Global CRE Investment Spending
While global property investment is on the increase, private capital fundraising has slowed -- reflecting widespread economic uncertainties. However, investment capital continues to flow into commercial real estate as investors scour markets for returns. Global property investment has risen to $1.35 trillion in the past year across the globe.
Birkenstock moves, expands in midtown Sacramento
The Budworths moved their business to 2612 J St. on Oct. 1 and celebrated the new store last weekend with Birkenstock CEO David Kahan. Toni Budworth told me she and her husband are celebrating 30 years in the shoe business this year. They started with a small shoe store in Stockton in 1986 and expanded to Sacramento, opening the capital’s first Birkenstock store. Of course, they sell about 20 other brands of shoes, plus socks, handbags, jewelry and other accessories.