CBRE, Dallas, raised its hotel performance outlook for this year once again, improving its forecast for revenue per available room to $97.89, up 6% year-over-year, and an increase of 43 cents from its previous forecast.
Category: News and Trends
CMF Briefs June 1, 2023
Commercial and multifamily briefs from ULI, StorageCafe and CBRE.
Commercial/Multifamily People in the News June 1, 2023
Personnel news from JLL, Transwestern Real Estate Services and Peachtree Group.
CREF Policy Update: June 1, 2023
Commercial and multifamily developments and activities from MBA important to your business and our industry.
CMF Quote of the Week: June 1, 2023
“Many institutional and family office/private capital groups I met on my trip had a tremendous amount of dry powder and they were considering U.S. real estate investments for at least some of their available capital to ensure they diversify their investments.”
–Chinmay Bhatt, Senior Managing Director and founding member of Berkadia’s JV Equity & Structured Capital in New York
Tech Sector Pressures Major Office Markets
Office-using sectors added 67,000 jobs in April–a 2% year-over-year increase–but demand for office space remains weak across major markets, reported CommercialEdge, Santa Barbara, Calif.
Apartment Asking Rents Climbing at Slightly Subdued Pace
Zillow, Seattle, reported apartment asking rents climbed by 0.6%, or $12, from March to April, bringing the Zillow Observed Rent Index to $2,018.
Senators Introduce MBA-supported Bill to Reform Davis-Bacon Rules
Sens. John Thune, R-S.D., and Jerry Moran, R-Kan., on Friday reintroduced the Housing Supply Expansion Act, legislation that would address the affordable housing shortage by making targeted reforms to Davis-Bacon Act requirements.
CBRE: Office Attendance Changes Prompt Companies to Revamp Office Portfolios
More companies now require office attendance than a year ago, causing them to change their office footprint to match office attendance patterns, reported CBRE, Dallas.
Dealmaker: Madison Realty Capital Provides $340M Construction Loan
Madison Realty Capital, New York, provided a $340 million construction loan to Catalfumo Cos., Palm Beach Gardens, Fla.