GlobeSt.com, August 22, 2023–Joseph J. Ori (subscription)The CRE industry has been dealt a big blow with eleven interest rate hikes since March 2022 and a federal funds rate that jumped …
Category: Top National News
New York Plans to Open Parts of Midtown Manhattan to Housing
New York Times, Aug. 17, 2023-Mihir Zaveri (subscription)New York City officials announced plans on Thursday to ease the conversion of office buildings to housing and open manufacturing areas south of …
Amid CRE Default Concerns, Bank Capital Rules to Change
Commercial Property News, Aug. 14, 2023–Paul FiorillaAs property owners try to handle the fallout of higher interest rates, the industry faces another debt market hurdle: regulatory changes for large banks …
No, Small Banks Aren’t Holding the Bag on Half-Empty Towers
Bloomberg News, Aug. 14, 2023–Justin FoxContrary to a widespread figure, local and regional lenders don’t hold 70% of US commercial real estate debt. It’s closer to 32%.https://www.bloomberg.com/opinion/articles/2023-08-14/no-small-banks-aren-t-holding-the-bag-on-half-empty-office-towers?
In New York City, Some Real-Estate Battles Come Down to Inches
The Wall Street Journal, Aug. 14, 2023-Corinne Ramey (subscription)They say football is a game of inches. That is also true of the bruising sport of New York real-estate development.https://www.wsj.com/articles/luxury-hotel-new-york-diamond-district-614f658d
Wall Street Is Ready to Scoop Up Commercial Real Estate on the Cheap
The Wall Street Journal, Aug. 15, 2023-Peter Grant (subscription)Wall Street firms are raising new funds to acquire office buildings, apartments and other troubled commercial real estate, looking to scoop up …
Investors Wary of Commercial-Property Risks Hold Back on Loans
Bloomberg News, Aug. 15, 2023-John Gittelsohn (subscription)Lending for commercial real estate in the US has plunged — and it isn’t just banks that are holding back.https://www.bloomberg.com/news/articles/2023-08-15/investors-wary-of-commercial-property-risks-hold-back-on-loans
WeWork Raises Doubt About Its Survival
The Wall Street Journal, Aug. 8, 2023-Alexander Saeedy and Ben Glickman (subscription)WeWork on Tuesday raised doubt about its ability to stay in business as the co-working space provider faces losses …
Brookfield Sets Sights on Raising $150 Billion This Year
The Wall Street Journal, Aug. 9, 2023-Luis Garcia (subscription)Brookfield Asset Management sees the best opportunities in more than a decade to buy commercial property at a discount, as strong fundraising …
Why Warehouse Rents Keep Going Up While Demand Is Dropping
Wall Street Journal, Aug. 2, 2023-Liz Young (subscription)Warehouse rental prices across the U.S. have never been as high as they were in the second quarter, when the average asking rent …