Various Marriott and Hilton properties are set to undergo around $200 million in renovations, including $70 million in new furniture, fixtures and equipment.
Benjamin West is set to provide furniture, fixtures and equipment (FF&E) procurement services for a 69-hotel portfolio undergoing an extensive renovation process. The assets are set to undergo around $200 million in upgrades, from which $70 million in new FF&E. The portfolio includes several Marriott and Hilton properties across the U.S. and encompasses:
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The build-to-suit facility, which is fully preleased to Dorman Products, is scheduled for completion by the end of the year.

Panattoni Development Co. has begun construction on a fully preleased, 815,670-square-foot industrial property in northern Tennessee. The building will be occupied by Dorman Products, which will use the new facility as its largest U.S. distribution center.

Panattoni expects to complete development of the structure by the end of 2018. Stonemont Financial Group is partnering to fund the project, with additional construction financing provided by Pinnacle Bank…

Panattoni Breaks Ground on 815 KSF Warehouse in TN

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Working on behalf of a partnership of investors advised by JP Morgan Asset Management and IDI Logistics, Cushman & Wakefield secured the loan for the refinancing of eight properties located in Illinois, Ohio, Texas and California.

Cushman & Wakefield has come through for Industrial Properties America III LLC, a joint venture of investors advised by JP Morgan Asset Management and IDI Logistics. The commercial real estate services firm recently arranged $108.6 million in refinancing for the borrower’s 2.2 million-square-foot national industrial portfolio. The financing, secured by  Cushman & Wakefield Senior Director Richard Henry, Executive Director Brian Linnihan and Executive Managing Director Mike Ryan, came in the form of a floating rate loan.

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  • Ant relies on asset-backed securities but issuance is sliding
  • Golden days of easy money from debt market over, analyst says

Billionaire Jack Ma’s Ant Financial, the world’s biggest fintech firm, may have a problem…

China Consumer Loan Giant Ant Financial Threatened by Debt Slump

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The company’s new headquarters will occupy more than 20,000 square feet in a newly renovated office building in Rockville, Md.

Financial services company H. Beck Inc. has signed a 23,000-square-foot lease to move its headquarters into Research West I in Rockville, Md. The tenant plans to occupy its new space in the 122,500-square-foot Washington, D.C.-area office building in August 2018. Realty Capital Partners owns the property, according to Yardi Matrix.

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The city’s job gains are somewhat middling, but a below-trend unemployment rate means that housing continues to be in high demand.

St. Louis’ job gains are somewhat middling, but a below-trend unemployment rate means that housing continues to be in high demand. The metro added 1,800 units in 2017, marking a new cycle peak. As a result of strong supply growth, occupancy for stabilized properties dropped to 94.5 percent as of December. Although rents are still rising, the average rate was still below the $900 mark and about $500 behind the U.S. average.

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  • First coal supply from Carmichael mine now planned by 2021
  • Indian firm plans to supply coal to China, Vietnam and Taiwan

Indian conglomerate Adani Enterprises Ltd. will miss its original deadline to start shipping thermal coal from one of the world’s biggest planned mines due to funding difficulties, even as it eyes export deals with Asian companies…

Billionaire’s Mega-Mine Misses Coal Deadline on Funding Headache

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The 80-acre shopping center in the Jacksonville area is already underway, with the first phase wrapping up later this year.

The Pavilion at Durbin Park, a retail development on track to become the largest shopping center in Northeast Florida, has landed $80.5 million in construction financing. City National Bank of Florida provided the three-year construction loan, which has a variable interest rate. The owner, a joint venture between Gatlin Development Co. and Gate Petroleum, is building the 80-acre property near Jacksonville, Fla., and the first retailer—WalMart—plans to opens its doors in November 2018.

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  • Developer Broccolini to spend up to $233 million on project
  • Site will be ‘ultimate mixed-use’ with condos, office, retail

Broccolini Construction Inc. plans to invest as much as C$300 million ($233 million) to build the tallest residential tower in Montreal…

Montreal’s Tallest Residential Tower to Rise Near National Bank

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The 304,732-square-foot portfolio was 94 percent occupied at the time of sale. The office buildings are all located within minutes of major thoroughfares.

Somerset Properties has sold a four-building office portfolio located in Mount Laurel and Marlton, N.J. Mobius acquired the properties for a combined $31.4 million and received a 10-year fixed-rate acquisition loan from Wells Fargo Bank, in the amount of $24.3 million. The portfolio totals 304,732 square feet and is 94 percent occupied.

An HFF team represented Somerset in the transaction and arranged the funding on behalf of Mobius…

Somerset Properties Sells Office Portfolio in NJ

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A gauge of signed contracts to purchase previously-owned U.S. homes increased in February for the first time in three months, highlighting uneven progress in the industry, according to data released Wednesday from the National Association of Realtors in Washington…

U.S. Pending Home Sales Increase for First Time in Three Months

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Deutsche Bank AG Chief Executive Officer John Cryan said he’s committed to remaining in his job after people familiar with the matter said that the lender has held talks with potential replacements…

Deutsche Bank CEO Cryan ‘Absolutely Committed’ to Serving Lender

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The combined company is set to have an ownership interest in approximately $90 billion in total assets and an annual net operating income of more than $4 billion.

Four months after Brookfield Property Partners came courting GGP Inc. and was initially spurned, Chicago-based mall owner GGP has accepted Brookfield’s offer to acquire the remaining portion it didn’t already own in a deal valued at about $15 billion.

“It was just a matter of time, they already own so much of it,” Jeff Green, a retail consultant and president & CEO of Jeff Green Partners in Phoenix, told Commercial Property Executive.

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British lawmakers opened an investigation into economic crime, citing estimates that more than 4 billion pounds ($5.6 billion) of property in the U.K. has been purchased with “suspicious wealth.”…

Dirty Money in U.K. Property to Be Investigated by Lawmakers

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The firm plans to build a front-load warehouse containing nearly 250,000 square feet in the city’s I-85 South industrial corridor.

Lincoln Property Co. has commenced construction of Union 85, a 243,540-square-foot speculative distribution center in southern Atlanta. The project is anticipated to be completed later this year.

Located at 3725 Royal S. Parkway, the 24.4-acre project site is situated in Atlanta’s I-85 South corridor, which has seen a wealth of new industrial properties come online in recent years, occupied by major tenants including Procter & Gamble, Mondelez and XPO Logistics. The new building will sit just off Interstate 85, which connects the area to Atlanta’s urban core, 15 miles to the northeast…

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Gemini Rosemont’s new COO, John Meehan, discusses the transforming office sector, why investors can now find long-term values in suburban markets and how to be prepared for the changes that will impact the industry.
Gemini Rosemont Commercial Real Estate added John Meehan as its new chief operating officer in January. A former capital markets director at Douglas Emmet, Meehan is responsible for corporate transactions, and providing financing and multidisciplinary leadership for the office investment platform. Gemini Rosemont’s COO revealed his take on the latest trends and challenges in the office sector, and what it takes to provide tenant satisfaction in 2018…
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  • Manager cites recent poor performance for returning capital
  • Billionaire David Tepper seeded Pennant with $12 million

Hedge fund manager Alan Fournier is returning client capital at his $1.5 billion Pennant Capital Management after almost two decades, citing poor returns…

Alan Fournier Shuts Hedge Fund Pennant Capital After 17 Years

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The 368,081-square-foot asset marks the company’s second acquisition within the Tampa market. Big Box Property sold the building for $20.3 million.

TriGate Capital has acquired a 368,081-square-foot industrial facility in Tampa. The asset marks the company’s second acquisition within the Tampa MSA. Big Box Property Owner traded the facility for $20.3 million, according to public records.

The warehouse is situated at 8800 Adamo Drive, at the intersection of 60 and 301 freeways and is within four miles of interstates 4 and 75. Additionally, downtown Tampa is merely 15 minutes from the property. The asset was built in 1972 and features built-to-suit office, 21-foot high ceilings, dock high loading and is fully sprinklered…

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Living the American dream comes with a lot of upsides. It also has one big downside.
Homeownership has all sorts of positive effects. According to a 2016 summing-up of research on the “Social Benefits of Homeownership and Stable Housing” by National Association of Realtors economists Lawrence Yun and Nadia Evangelou, it brings:
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  • Chairman under scrutiny, firm said to be taken over by state
  • Pressure mounting on CEFC as banks form creditors committee

CEFC China Energy Co., the sprawling conglomerate that’s come under increasing government scrutiny, plans to sell its entire global property portfolio with a book value of more than 20 billion yuan ($3.2 billion), according to people with knowledge of the matter…

Troubled China Conglomerate Puts All Properties on Block

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The company plans on filling the vacant first-floor with retailers. Two, 4,000-square-foot pad sites will be added on adjacent land, intended for medical offices, office or retail development.

Moonwater Capital has acquired its third property, Montecito Tower, a Class A office building in Las Vegas’ Bruce Woodbury Beltway, for $41 million. The capital package was arranged by Dekel Capital. Part of the funds were secured through a $28.5 million first mortgage loan with Prime Capital, while the balance of the capitalization was funded through a joint venture equity investment between Moonwater and a private equity fund.

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  • Reputation risk hurts ability to pass on rising funding costs
  • Big-four lenders ‘are really stuck,’ governance expert says

A recent spike in funding costs is happening at the worst time for Australia’s big banks, as intense public scrutiny crimps their ability to pass on increases to customers…

Aussie Banks Face Squeeze as Conduct Probe Crimps Pricing Power

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Wall Street’s average bonus jumped 17 percent in 2017 to $184,220, the highest since 2006, according to estimates by New York State Comptroller Thomas DiNapoli…

Wall Street Bankers’ Average Bonus Jumps to Highest Since 2006

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The three-building campus is SunCap’s third development in Las Vegas, and will be located at the intersection of North Las Vegas Boulevard and North Lamb Boulevard.

A joint venture of SunCap Property Group and Colony NorthStar has acquired a 40-acre site in northeastern Las Vegas. The partnership will develop a Class A light industrial campus, to be named SunPoint Crossing.

The campus will be located at the southeast corner of the intersection of North Las Vegas Boulevard and North Lamb Boulevard. SunPoint Crossing will comprise three buildings, totaling 752,838 square feet. Each building will be divisible up to 35,000 square feet and will feature a concrete construction, 32-foot clear ceiling height, ESFR sprinklers and a plethora of dock-height and grade level doors…

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  • Chinese buyers accounting for increased share of market
  • Leitao says no need for measures to curb foreign demand

Foreign buyers of real estate in Quebec are putting “marginal” pressure on prices while still accounting for a tiny sliver of the market relative to Vancouver and Toronto, according to new data released by the French-speaking province…

Foreign Buyers Starting to Drive Up Housing Prices in Quebec

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As many investors retreat from the online lending industry, Upstart Network Inc. is hoping to find investors still willing to bet on the business. Upstart, which was founded by Google veterans, is testing venture capitalists’ appetite for an investment round of about $100 million, said two people briefed on the matter…

Upstart Seeks $100 Million, Testing VCs’ Appetite for Online Lending

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The San Francisco-based firm purchased a software-as-a-service real estate technology platform that, among other things, lets investors manage their portfolios’ performance.

JLL Spark, a division of JLL, has acquired a software-as-a-service (SaaS)-based real estate technology platform. Stessa—“assets” spelled backwards—reportedly lets investors in income properties easily and cost-effectively track, manage and communicate the performance of their portfolios.

This is JLL Spark’s first strategic acquisition since its inception last year and is touted as delivering on the company’s mission “to transform the real estate industry through technology-based innovation.” Both JLL Spark and Stessa are headquartered in San Francisco…

JLL Spark Buys CRE Software Company

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  • Trade tension blow-out, inflation surprise are also tail risks
  • Debt load will make it hard for companies in case of recession

The continuing economic expansion and pending benefit from U.S. tax cuts offer a crucial window for companies to reduce leverage and get ready for the next downturn, according to $808 billion asset manager Aberdeen Standard Investments…

Companies Must Pay Down Debt Now, $800 Billion Fund Manager Warns

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Litigation over a gun defect will likely be delayed. How those claims will ultimately be resolved is unclear.

Remington Outdoor Co.’s decision to seek court protection was a long-anticipated move by one of America’s oldest gun-makers. It was in part the result of a maelstrom that’s buffeted the industry since the election of Donald Trump, one also fueled by mass shootings and protests such as this weekend’s nationwide march for gun regulation…

Remington Has a $500 Million Question Hanging Over Its Bankruptcy

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Reserve Capital Partners purchased the 182,000-square-foot property, which was 100 percent occupied by GE Transportation at the time of the sale.

A partnership between Stan Johnson Co. and SVN/First Guardian Group has sold two office buildings near Orlando, Fla., known as the GE Transportation Building, for $25 million. Stan Johnson Co. Associate Director David Bailey and SVN/First Guardian Group Erik Carlson represented the seller, TIC Properties Management, in the transaction. Reserve Capital Partners was the buyer.

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The State of California Department of General Services chose the longtime partners to take on the design-build responsibilities for the new headquarters of the Department of Natural Resources in Sacramento.

Turner Construction Co., in partnership with architectural firm AC Martin, just landed a big fish in the Golden State. The team secured a design-build contract with the State of California Department of General Services for the new 838,000-square-foot Department of Natural Resources headquarters. The downtown Sacramento office development carries a project cost of approximately $597 million, with $520.5 million dedicated to construction, which is expected to commence in early summer.

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  • Shares fell as much as 13% after article noted plan for audit
  • Miner refutes assessment, saying it will work with authorities

First Quantum Minerals Ltd. plunged the most in almost two years as the miner was hit with a $7.9 billion tax bill by Zambia, which accounts for 84 percent of its revenue

First Quantum Confirms $7.9 Billion Zambian Tax Assessment

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Located in Trumbull, the property encompasses two interconnected buildings totaling 83,193 square feet and extensive landscaping features, including two aerated ponds.

Washington Trust’s Commercial Real Estate Group has provided a $6.6 million loan to owners CH Commerce Drive Associates LLC and City Park Commerce Drive LLC, for the refinancing and tenant improvement of a mixed-use property in Connecticut. The office and industrial property in Trumbull, Conn., managed by Cambridge Hanover Inc., served as the North American headquarters of the Pilot Pen Corp.

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  • Saudi Arabia, Hong Kong policy makers grapple with the impact
  • Australian short-term funding costs are surging as well

From Riyadh to Sydney, short-term funding markets worldwide are starting to feel the effects of soaring U.S. dollar Libor rates…

Soaring U.S. Libor Rate Trickles Into Funding Markets Worldwide

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The University of Kansas Health System is now the single tenant at 11300 Corporate Avenue, a 172,000-square-foot office space building in Lenexa, Kan.

Hines, in a joint venture with a fund managed by Oaktree Capital Management LP, has announced that The University of Kansas Health System has signed a lease for a 105,000-square-foot office space at 11300 Corporate Ave. in Lenexa, Kan. The space is used for support operations for the health system.

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Canada’s uninsured mortgage market reached an eight-year high in January as government steps to reduce taxpayer exposure to the housing market gain traction, according to data from the country’s banking regulator…

Uninsured Mortgages Keep Surging Even as Canadian Housing Cools

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Citigroup Inc. said Chief Executive Officer Michael Corbat was unaware that the bank was in the process of closing a real estate loan to a Kushner Cos. venture when he met with Jared Kushner…

Citigroup Says CEO Was Unaware of Loan When He Met With Kushner

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The VA3 data center is a 245,000-square-foot facility with 16 megawatts of critical power immediately available. NTT Communications, parent company of RagingWire, invested more than $160 million in the new property.

RagingWire has opened the first of seven planned data centers at its 78-acre campus in Ashburn, Va., and the company’s third in the region. Northern Virginia is currently the largest data center market in the world by net absorption values, with 115 megawatts delivered by the end of 2017, according to JLL’s 2018 Data Center Outlook. It is estimated that about 70 percent of all Internet traffic passes through this area.

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The luxury beauty and spa chain signed a lease for 1,800 square feet at the 900 West mixed-use development. The store is expected to open in the summer of 2018.

Luxury beauty and spa chain Bluemercury is getting ready to open its 11th store in Chicago as the company has leased 1,800 square feet within the 900 West mixed-use development. The new store, located at the corner of Sangamon and Randolph streets, is expected to open in the summer of 2018.

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  • TPG Pace Energy, a blank-check company, targets Eagle Ford
  • Chazen will lead newly formed company to be called Magnolia

Steve Chazen, who transformed Occidental Petroleum Corp. into a heavyweight of the U.S. shale boom, is looking to replicate that success in south Texas with a $2.66 billion deal…

TPG Pace to Buy EnerVest Shale Assets for $2.7 Billion

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Jeff Bezos, the world’s richest person, added $3.3 billion to his net worth on Tuesday even as the fortunes of fellow technology tycoons took a tumble. The founders of Facebook Inc., Alphabet Inc. and Oracle Corp. lost a combined $6.7 billion…

Larry Ellison’s Fortune Takes a $4.5 Billion Hit

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Situated in the North Natomas community, the one-story property was sold in an off-market transaction. The asset was recently evaluated at approximately $5 million.

Donahue Schriber Realty Group has sold Westlake Village, a 31,980-square-foot retail center in Sacramento, Calif., located at 3501-3511 Del Paso Road. The sale also included an additional 4-acre site prone to future development.

Hanley Investment Group Real Estate Advisors Executive Vice President Bill Asher, President Ed Hanley and Ten-X represented the seller, while Associate Eric Vu represented the buyer, a family trust from San Francisco’s East Bay which traded out of a northern California-based retail property to fulfill a 1031 exchange…

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The company sold the assets in two separate transactions totaling about 780,000 square feet. The properties are located in Wayne, King of Prussia and Malvern.

Liberty Property Trust, one of the largest office developers in the northeastern U.S., has sold an even dozen office properties in suburban Philadelphia in two separate transactions. The properties, totaling 779,190 square feet, changed hands for $106.9 million.

The assets in the larger sale are located at 440 and 460 E. Swedesford Road in Wayne, 2100 and 2201 Renaissance Blvd. in King of Prussia, 45 Liberty Blvd., and 300, 400 and 500 Chesterfield Parkway in Malvern. These buildings total more than 590,000 square feet and sold for $92 million…

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  • State Street is bullish on sterling and the Norwegian krone
  • Rising hedging costs also dim dollar’s attractiveness: Binny

State Street Global Advisors has cut its dollar positions to neutral from long, deterred by rising hedging costs and a break in the correlation between the global currency and rates markets.

Interest rates are the base drivers for currency movements, but that link seems to have “somewhat frustratingly broken down so far this year,” said James Binny, who oversees $116 billion as global head of currency at State Street. The dollar-yen rate is a “classic example,” he said…
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After getting kicked out of the chief executive officer job at Uber Technologies Inc. in June, Travis Kalanick is getting back in the saddle…

Ex-Uber Chief Travis Kalanick Buys Real Estate Company, Takes CEO Reins

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The Country Inn & Suites in Lawrence features 89 guestrooms and is located within four miles of the University of Kansas.

The Country Inn & Suites by Radisson has opened a new 89-key property in Lawrence, Kan. The owner of the hotel in eastern Kansas, a legal entity affiliated with Diamond Everley Roofing Contractors, kicked off the building’s development in early 2017. Apex Engineers provided engineering services, and Heinen Custom Operations acted as general contractor.

Located at 2176 E. 23rd St., the hotel is situated approximately three and a half miles from the University of Kansas, with the Haskell Indian Nations University positioned two miles to the west. In the past, an antique dealer and a steakhouse operated on the 1.2-acre parcel…

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The new deals bring the weighted average remaining lease term to four years at QTS Metro Atlanta. QTS owns an adjacent, 17-acre plot of land which could be developed as needed into another facility.

QTS has signed new contracts with longstanding clients at its Atlanta metro hyperscale data center. Two lease extensions were inked, totaling 19 megawatts in aggregate capacity. The anchor tenants paid above pre-renewal rates.

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  • Largest transaction in the current en-bloc cycle, CBRE says
  • Quek teams up with Singapore cousin Kwek on transaction

Billionaire Quek Leng Chan’s GuocoLand Ltd. and its joint venture partners are buying Pacific Mansion near Singapore’s business district for S$980 million ($743 million), the biggest purchase of a residential site for redevelopment in more than a decade…

Singapore Residential Site Sells to Billionaire Quek for S$980 Million

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  • Interest in mutual funds picked up as shares rallied
  • Popularity of some products has alarmed China’s regulators

Three years after China’s stock market trauma, the speculative spirit is far from snuffed out…

The Superstar China Fund Managers Luring $5 Billion a Day

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Aligned Energy is growing its footprint in Phoenix, as are many other data center operators in the area. CEO Andrew Schaap shares his thoughts on why this maturing market is growing so fast.

The data center sector is booming. By the end of 2017, markets in the United States saw approximately 315 megawatts in net absorption, according to JLL’s 2018 Data Center Outlook. This accounts for more than half of the overall absorption rate of 583.5 megawatts across top global markets. Europe, Middle East and Africa came in second with a total 135 megawatts, while the Asia-Pacific region reached about 85 megawatts.

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Facilitated by Calkain Cos., the property traded for $4.8 million, attaining $925 per square foot and a cap rate of 5.5 percent.

J Donegan Co. has purchased a three-tenant shopping center in a record net lease sale in Loudoun County. The recently completed asset traded for $4.8 million, attaining $925 per square foot and a cap rate of 5.5 percent, in a transaction facilitated by Calkain Cos.

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  • Ear piercing couldn’t immunize it against falling mall traffic
  • Group led by Elliott to help fund restructuring plan

Claire’s Stores Inc., known for tween jewelry and ear piercing, has become the latest victim of the retail apocalypse…

Claire’s Becomes Latest Retailer to Go Bankrupt

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  • Bankruptcies show how tough competition has gotten for grocers
  • Walmart, Kroger are making expensive investments in technology

This is how the grocery industry lives now…

Supermarket Bankruptcies Are Beginning to Pile Up

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The building, situated within the CenterPoint Intermodal Center-Joliet/Elwood, comprises 751,622 square feet and was leased to a home improvement retailer and CTDI.

CenterPoint Properties has fully leased its recently completed speculative facility in Joliet, Ill. The building was leased to a large home improvement retailer and CTDI, a global engineering, repair and logistics company.

Located at 3900 Brandon Road, the building comprises 751,622 square feet and is situated within the CenterPoint Intermodal Center-Joliet/Elwood. The home improvement retailer signed a 15-year, six-month lease for 250,309 square feet of the facility, including:

CenterPoint IL Spec Building Fully Leased

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NKF Capital Markets represented Invesco in the sale of Growers Square, a three-building, 195,372-square-foot Class A development in downtown Walnut Creek.

Rockwood Capital has purchased Growers Square, a three-building, 195,372-square-foot Class A office project in Walnut Creek, Calif., in the East Bay, according to NKF Capital Markets, which represented the seller, Invesco.

The property, at 1646-1676 California Blvd., includes a four-level parking facility reportedly featuring one of the highest parking ratios in Walnut Creek. Growers Square also benefits from a location with immediate access to both BART and the area’s dense retail core…

Rockwood Capital Buys Bay Area Office Park

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  • Mortgage lender denies allegations and says it will fight suit
  • HouseCanary’s real-estate data and technology at issue

Quicken Loans Inc. was sued by real-estate data analytics startup HouseCanary Inc., which accused the mortgage-lending firm of trying to steal its data and technology through a sham licensing agreement so it could develop competing appraisal software…

Quicken Loans Is Sued by Data Startup Claiming Trade Secrets Theft

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The property comprises 10,141 square feet and is fully occupied by The Northern Trust Corp. Mid-America Real Estate Corp. brokered the transaction on behalf of the seller.

L3 Capital has acquired a retail building in Chicago for $23 million. Mid-America Real Estate Corp. brokered the sale on behalf of the seller.

Located at 118-120 East Oak St., the property comprises 10,141 square feet and is fully occupied by The Northern Trust Corp. The trophy-quality building is situated in Chicago’s prominent Oak Street luxury district…

L3 Snags Chicago Retail Building

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The company completed the project in March, adding 314,600 square feet of new world-class education space to the Clayton campus. Designed by John Wardle Architects, the development features a four-level building and a new regional transport interchange.

Multiplex has completed the Learning and Teaching Building at Monash University, a new $225 million education property in Clayton, Australia.

“We are delighted to continue our collaboration with Monash University with the delivery of the Learning and Teaching Building, which will provide students with truly progressive and contemporary learning spaces,” Graham Cottam, Multiplex’s regional managing director, said in a prepared release…

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  • Partners Enhanced fund is said to plunge 23% this year
  • Pure Spread and European Event Equities funds saw gains

Billionaire John Paulson can trace his loss of assets and senior executives to a familiar refrain: poor performance…

John Paulson’s Merger Arbitrage Fund Plunged at the Start of the Year

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Alan Howard can dabble where mortals should fear to tread.

Bitcoin continues to redefine the word volatility. The cryptocurrency is down more than 50 percent from its December peak; but that still leaves it up more than 600 percent from its value a year ago…

Hedge-Fund Billionaire Buying Bitcoin Is Cautionary Tale

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