Real Estate

While COVID-19 has slammed many parts of the economy, suburban apartments are performing well for one company. Chris Berry, managing director and co-portfolio manager for Barings, says several of the firm’s close-in suburban multifamily holdings “have exceeded expectations since fourth quarter 2019.”  Berry says that Barings these properties, some of which are located outside of
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Jeff Lerman, co-founding Lerman Law Partners, LLP, has been a commercial real estate attorney for 40 years. Before 2020, he thought he had seen everything that could happen in the sector. The COVID-19 hit and businesses have closed en masse. “Landlords literally cannot evict the tenant, and the tenant had no idea that they were
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The longtime home of ever-young actor Geena Davis, on nearly half an acre along a quiet and picturesque, Jacaranda-lined cul-de-sac in L.A.’s posh Pacific Palisades community, has popped up for sale at nearly $6 million. Listings held by David Offer of Berkshire Hathaway HomeServices California Properties, which make no secret of the identity of the
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So far, the apartment market has held up relatively well after COVID-19 hit. But Jake Reiter, president of Verde Capital, does see some issues on the horizon.  In higher-end, mixed-use apartments, the retail and hospitality portions could “pull-down” building performance, according to Reiter. “The hotel piece, the WeWork piece or the retail piece could be
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Mortgage defaults are increasing at an alarming rate. The delinquency rate for loans tied to commercial mortgage-backed securities jumped to 10.32 percent in June, which was an increase of 317 basis points over the May number. “If the property owners who have the mortgages are unable to pay, it’s clear that investors in CMBS are
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While we are still early in the pandemic-triggered recession, some investors are already seeing the distressed asset investment opportunities—and BH Properties is among them. The investor is expecting a wave of bankruptcies and defaults, and is launching a $200 million debtor-in-possession platform to act on those opportunities in the coming months. “We’ve already seen a
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The biggest lease of the year is done – and it’s momentous good news for a limping office-leasing market in a city beleaguered by the coronavirus. Facebook on Monday closed on a long-awaited deal for 730,000 square feet at Vornado’s Farley Building, the former post office site between Madison Square Garden and the Hudson Yards
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Providing insight on the hospitality sector’s varying debt solutions in relation to the current, on-going crisis, Alan Cohen, chair of Akerman LLP’s real estate finance practice and co-office managing partner of the firm’s New York office, recently connected with GlobeSt.com to answer a few questions regarding payment options within the hotel landscape. Are lenders permitting
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The year 2020 will not be soon forgotten as the spread of COVID-19 and society’s reaction to the virus have combined to devastate the global economy. U.S. GDP in the second quarter declined by 32.9 percent on an annualized basis, the most significant quarterly decline observed since the 1940’s. While the stock market has rebounded
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As the industry deals with massive disruption, architects and designers are finding that they will play a new role in the recovery. According to Nadel Architecture and Planning leadership, architects and designers will be tasked with finding innovative solutions to the challenges facing CRE. The firm recently transitioned its leadership and ownership team to position
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CMBS and construction lending have been the two most impacted sectors during the pandemic. Lenders in these two categories have slowed activity significantly. In CMBS, the market had a lot of exposure to both the retail and hospitality markets. Construction lenders, on the other hand, are moving forward with extreme caution. “The CMBS market has
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Aquicore, a real estate software company that analyzes and makes predictions about building performance in real time, has secured $14 million that it will use to bolstering its cloud-based platform and to expand into Europe. The new round, led by New York City investment firm Keyframe Capital Partners with additional participation from European venture capital firm A/O Proptech and
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What do you get when a military barracks in one of London’s most exclusive neighborhoods and a famous sports car designer hop into bed together? Luxury condos, of course! Twelve years in the making, Chelsea Barracks, a former military base in London’s ultra-ritzy Belgravia neighborhood, that’s undergone a $6 billion re-development spanning 13 acres, is
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The way we live our lives and conduct business has drastically changed in 2020—a trend that also includes the senior housing industry. Namely, according to a recent post from JLL, Covid-19 has prompted senior housing communities to quickly to adopt new technologies, faster than they might otherwise have. Currently, technology is used in these communities as a way to keep both
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A record $300 billion in funds designated to buy distressed commercial real estate assets remains on the sidelines despite plunging commercial real estate values tied to the COVID-19 pandemic, according to New York-based Enertiv.  As commercial real estate sales and acquisitions of $2.5 million-plus properties have plummeted 79 % since February,  stashed billions in “dry
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A survey from a tenant experience provider says employees are productive while working at home amid the coronavirus pandemic, but they do struggle with the absence of coworker interaction and “sub-optimal work environments.” The survey is from the company Equiem, which collected more than 4,500 poll and survey responses, according to a company report. The
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