Real Estate

Even as unemployment has soared over the past few months, rent payments remained relatively steady due in no small part to the $600 weekly payments in federal unemployment benefits. Now that the extra $600 per week in benefits has ended and negotiations for an extension remain mired in Congress, the multifamily sector may well see

Darby Stanchfield, who appeared on “Jericho” and “Mad Men” before she landed a plum part on Shonda Rimes’ ABC political drama “Scandal,” took in $2.4 million on the sale of her secluded traditional home in the largely unheralded but lovely and affluent foothills above Glendale, about 15 miles due north of downtown Los Angeles and,

The additional $600 in unemployment benefits have expired, and apartment owners are concerned about how it will impact rent collections. Affordable housing developers in particular are susceptible to declining rent collections as a result of the expired benefits. Many apartment owners, including KIMC, have advocated for additional stimulus. “I am certainly worried about it,” Jonathan

As conventional lenders have cooled on the commercial real estate space during the COVID-19 downturn, Stan Bril, CEO of MCG, has been getting a lot more calls recently from people who need financing. “I’ve had people come to me who have said that their credit line has either gotten cut, frozen or completely closed,” Bril

In a welcome step forward for the retail- and restaurant-ailing Union Square area, major food-hall operator Urban­Space has signed a long-in-coming lease for 10,000 square feet at Zero Irving, a 21-story mixed-use tower rising at 124 E. 14th St. The $200 million project by RAL Development Services stands on city-owned land leased to RAL for

TOLEDO, OH –  Kayne Anderson Capital Advisors’ private equity real estate division, Kayne Anderson Real Estate has purchased a healthcare portfolio from Welltower in a $1 billion transaction. The acquired portfolio comprises 34 properties, encompassing 27 medical office buildings and seven senior housing communities. The medical office buildings are located throughout the US and each

An effortlessly relaxed, enviably private and stylishly appointed contemporary pavilion high above tony Benedict Canyon in fancy-pants Beverly Hills, owned by English model and television presenter Catherine “Cat” Deeley, the bubbly, five-times Emmy nominated host of the long-running “So You Think You Can Dance” televised talent competition since 2006, has popped up for sale at

Despite market volatility and uncertainty created by the COVID-19 pandemic, investor activity within the net lease space for specific uses and credits continues to remain relatively strong, albeit at levels lower than pre-COVID. The industry is anxious and unsure about the long and short term effects of this crisis, and no one can provide any

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

It was not love at first sight. After Buffalo, New York, couple Nick Weith and Damian Mordecai spotted a grand Victorian-style home on a popular Instagram account called Cheap Old Houses, they drove an hour south to a village called Gowanda (population 2,700) to tour the historic property. Initially, Mordecai, a 39-year-old nonprofit executive, was

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

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

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

An online real estate database company just released new figures showing that renters’ preferred location is tiling toward the suburbs. Zillow attributed the new data to the impact of the coronavirus because of the spike in unemployment. Zillow reasoned that renters were hit more severely by the economic effects of the coronavirus than homeowners Instead

Conde Nast, which only finished moving into its HQ at One World Trade Center in 2014, is scouting midtown Manhattan for a potential new HQ. The parent company, Advance Publications, confirmed to the Post late Tuesday it is considering moving the publisher of Vogue, The New Yorker, Vanity Fair, GQ from the WTC site only

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

After just about five months on the market, Shemar Moore has sold his longtime home in the affluent San Fernando Valley community of Encino, Calif., for $2.4 million. Built in 1963 and substantially updated since, the former fashion model and “Soul Train” host purchased the property a dozen years ago and first made it for

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

Covid was certainly not in any of Lee & Associates’ business plans, but as investment brokers, the firm has the opportunity to seek out clients that need help, and in times like this, having a trusted advisor has never been more critical. That is according to Candice Chevaillier, a principal at the firm, and one

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

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

Four years ago, independent film and documentary writer, producer and director Tim Disney (“American Violet,” “Jim Allison: Breakthrough”), a showbiz scion of the Disney family — he is the grand-nephew of Walt Disney and the son of late billionaire Roy E. Disney, the last Disney family member to be involved with the company, and his

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

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

The best things in life may be free, but some of them come with strings attached. Like this charming bungalow in Athens, Georgia. The property, which dates back to 1923, is currently available for zero dollars and zero cents — but you’ll have to move it to a new location. The home’s owner, Rocky Moore

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

Married actors Trai and Grace Byers, best-known for their roles on “Empire” as Andre Lyon and Anika Calhoun, respectively, have traded the jam-packed hills of Hollywood for a roomy piece of suburban L.A. bliss. Records reveal the couple paid north of $4 million for their relaxed new digs, which were constructed on speculation by a

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

Short-term rentals of larger units weathered the COVID-19 pandemic better than hotels and smaller short-term rental units, according to a joint analysis by STR and AirDNA. With an occupancy rate of 61.4 percent, large short-term rentals were doing well during quarantine, while short-term rentals came in at 58.2 percent occupancy. Hotels fared the worst, with

For Sale: Ireland’s most haunted mansion “where the devil himself lived.” Paranormal professionals and ghost lovers take note: Loftus Hall in Fethard on Sea, in Ireland’s County Wexford, is on the market for $3 million. The 22-bedroom Georgian mansion set on stately, landscaped grounds has been put on the block by owners Aidan and Shane