Bloomberg, May 2, 2023–Charlie Wells (subscription)Housing supply is constrained but there’s a glut of office space. Fears of a recession are driving down prices in some areas, while demographic changes …
Category: Top National News
Why RCLCO Encourages SFR Developers to Ready Their Shovels
Multi-Housing News, May 1, 2023–Lew SichelmanCould it be that developers of for-rent single-family houses have only scratched the surface in satisfying demand for their products? It would seem so, according …
Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers
Wall Street Journal, Apr. 27,2023–Peter Grant, Jim Carlton (subscription)350 California Street was worth $300 million four years ago. It might sell for 80% less now, brokers say, in a market …
High Mortgage Rates Have Convinced Some that Renting is Better
CBS News, Apr. 26, 2023–Nancy ChenOne survey shows that, on average, the monthly cost of owning a home is now about a thousand dollars more than renting.https://www.cbsnews.com/miami/video/high-mortgage-rates-have-convinced-some-that-renting-is-a-better-bet/
Life Sciences Property Sector Cools After Multiyear Winning Streak
Wall Street Journal, May 2, 2023–Peter Grant (subscription)The market for office and lab space, one of the hottest commercial property sectors in recent years, is now the latest one to …
Brookfield’s Los Angeles Office Company Is Roiled by Defaults
Wall Street Journal, May 1, 2023–Konrad Putzier (subscription)The company, known as Brookfield DTLA Fund Office Trust Investor Inc., owns six Los Angeles office buildings and a retail center. Five of …
The Building Boom Is Prolonging Market Pain
Wall Street Journal, Apr. 30, 2023–Ryan Dezember, Will Parker (subscription)Construction employment is higher than ever—undermining bets the Fed will soon pivot.https://www.wsj.com/articles/the-building-boom-is-prolonging-market-pain-b224eb74?mod=hp_lead_pos1
Mortgage M&A Activity in 2022 and 2023: A List
National Mortgage News, Apr. 30, 2023–Maria Volkova (subscription)As the mortgage industry winds down from explosive origination volume seen in 2020 and 2021, consolidation activity has ramped up.https://www.nationalmortgagenews.com/list/m-a-activity-in-2022-and-2023-a-list
The Last Big Empty Waterfront Site in Downtown Miami Is Sold for $1.2 Billion
Bloomberg, Apr. 27, 2023–Felipe MarquesThe largest undeveloped waterfront parcel in downtown Miami, once pitched as a site for possible casino, was sold to a local real estate owner for roughly …
Banks Aren’t the Only Ones that Hold Risky Commercial Real Estate Debt. Pension Funds are About to Feel the Pain, Too.
Business Insider, Apr. 24, 2023–Al YoonInvestor angst over risky commercial real estate has exploded in recent weeks with expectations that banks that hold billions of dollars in the debt are …