Wall Street Journal, June 26, 2023–Peter Grant (subscription)Prologis has agreed to pay Blackstone $3.1 billion for a portfolio of U.S. warehouses and distribution properties in a sign that industrial space …
Category: Top National News
New York Landlord Vornado Bets $1 Billion That More Commuters Will Return
Wall Street Journal, June 27, 2023–Kate King, Craig Karmin (subscription)Employees frequently cite the dreaded commute as their biggest reason for avoiding the office. But one of America’s most prominent landlords …
German Property Lender Sees Weakness in U.S. Commercial Real Estate
Reuters, June 21, 2023FRANKFURT–A German bank that finances property worldwide is bracing for a possible hit from the U.S. office market this year as it looks for “solutions” with clients …
Vacant Offices Are Piling Up in Silicon Valley
Wall Street Journal, June 21, 2023-Peter Grant (subscription)Silicon Valley companies are dumping office space at an accelerating pace, as tech leaders such as Google and Facebook parent Meta Platforms close …
Powell Says the Fed Is ‘Very Aware’ of Problem in Commercial Real Estate
Wall Street Journal, June 22, 2023-Akane Otani (subscription)Federal Reserve Chairman Jerome Powell said Thursday that the central bank is monitoring the growing pressure the commercial real estate sector has come …
Distressed US Commercial Property Assets Rise to $64 Billion
Bloomberg, June 22, 2023-John GittelsohnDistress is spreading in the U.S. commercial real estate industry, with the amount of troubled assets climbing to nearly $64 billion in the first quarter of …
Can Affordable Housing be Energy Efficient? These Developers Say Yes
Energy News Network, June 22, 2023–Audrey HendersonA $5.5 million affordable housing development in Northfield, Minnesota challenges the notion that sustainability and affordability are mutually exclusive.https://energynews.us/2023/06/22/can-affordable-housing-be-energy-efficient-these-developers-say-yes/
Urban Malls Recapture Momentum Lost to Suburban Retail Centers
GlobeSt.com, June 21, 2023–Philippa Maister (subscription)Consumer data suggests urban and suburban malls can continue to coexist as they recover from the effect the Covid pandemic had on shopping patterns.https://www.globest.com/2023/06/21/urban-malls-recapture-momentum-lost-to-suburban-retail-centers/?
Top US Regulators Flag Increasing Commercial Real Estate Risks
Bloomberg, June 16, 2023-Christopher CondonThe top US financial regulators say they are stepping up scrutiny of how exposed banks are to commercial real estate, as vacancy rates increase.https://www.bloomberg.com/news/articles/2023-06-16/top-us-regulators-flag-increasing-commercial-real-estate-risks#xj4y7vzkg
Wall Street Sours on America’s Downtowns
Wall Street Journal, June 20, 2023–Heather Gillers (subscription)The pessimism from investors who bet on office buildings and mass transit can be seen in market signals that are flashing redhttps://www.wsj.com/articles/cities-real-estate-bonds-taxes-c6736f8b?