Bloomberg, Sept. 14, 2023-John Gittelsohn (subscription)Beverly Hills, a city known for luxurious mansions, must come up with a new plan to comply with a California law that requires it to …
Category: Top National News
Rate Volatility Puts Pressure on Commercial and Multifamily Loans
MPA, Sept. 14, 2023-Candyd MendozaThe slowdown in the commercial real estate sector continued to put pressure on loans backed by commercial and multifamily properties, according to the Mortgage Bankers Association’s …
Office Workers Return to NYC in Higher Numbers But Fall Short of Pre-Pandemic Levels
WABC-TV, Sept. 13, 2023–N.J. BurkettAs New York City continues to rebound from the pandemic, one of the last hurdles to returning to “fully normal” is the work schedule. There are …
REITs Report Strong Balance Sheets During the Latest Quarterly Results
Wealth Management Real Estate, Sept 12, 2023–David BodamerPublicly traded REITs are largely relying on unsecured debt at fixed rates, avoiding some of the rancor caused by rising interest rates.https://www.wealthmanagement.com/reits/reits-report-strong-balance-sheets-during-latest-quarterly-results?
Freddie Mac Looking for New CEO at Critical Juncture
National Mortgage News, Sept. 8, 2023–Brad Finkelstein (subscription)Freddie Mac CEO Michael DeVito will be retiring during the first quarter of 2024, after a nearly three-year tenure during which the government-sponsored …
Apartment Rents Are on the Verge of Declining Due to Massive New Supply
CNBC, Sept. 8, 2023–Diana OlickApartment rents have been cooling off sharply for several months, and they look like they’re about to go negative compared with a year ago, according to …
WeWork Looks to Renegotiate Most of Its Leases as It Fights to Survive
The Wall Street Journal, Sept. 6, 2023-Akiko Matsuda and Alexander Saeedy (subscription)WeWork launched a renegotiation of its office leases globally, testing its leverage against landlords that stand to lose if …
Buyers Sought for Signature Bank’s $33 Billion Commercial Real-Estate Portfolio
Reuters, Sept. 5, 2023-Pete Schroeder The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate (CRE) loan portfolio of failed New York lender …
Rising Rents Are Hitting American Suburbs Hardest
The Wall Street Journal, Sept. 6, 2023-Will Parker (subscription)America’s suburbs are posting the country’s fastest-rising rents, a sign that the recent migration of families from major cities is starting to …
Real Estate Doom Loop Threatens America’s Banks
The Wall Street Journal, Sept. 6, 2023-Shane Shifflett and Konrad Putzier (subscription)Bank OZK had two branches in rural Arkansas when chief executive officer George Gleason bought it in 1979. The …