Weekly News Roundup Betting on Midwest Apartments Morgan Properties, the country’s largest privately held apartment landlord, has agreed to pay $501 million for 11 multifamily properties across the Midwest, the latest wager that the region’s lack of supply provides fertile ground for rent hikes. Morgan has been aggressively expanding its Midwest footprint over the past…
Weekly News Roundup Suburban Offices Outperform Downtown Properties After years in the shade, humble suburban offices are faring much better than glamorous city-center towers as home working continues to upend the property world. Downtown-office valuations have halved from their peak in early 2022, based on MSCI Real Assets data. For suburban offices, the drop is…
Weekly News Roundup Rural Real Estate Heats Up Many so-called “halfbacks” — or boomers who moved from the Northeast and Midwest to Florida before settling in environs midway — are starting to populate once-heavily rural counties in areas that include Southwest Virginia, North Georgia, parts of both North Carolina and South Carolina, and portions of…
Weekly News Roundup Distressed Property Sales Stabilizing Market Investors with cash on hand have begun to snap up distressed properties or provide rescue capital to struggling owners in exchange for preferred returns. As of the end of 2023, commercial-property distress, including financially troubled assets and those taken over by lenders, totaled $85.8 billion, according to…
Weekly News Roundup Rents Drop for Wealthy, Rise for Everyone Else At penthouse apartments and sprawling single-family homes, property owners are offering big discounts and move-in deals to keep units full. These price cuts follow the largest wave of apartment construction in decades. The surplus of new housing is driving down prices at the top…
Weekly News Roundup Thriving Retail Real Estate Means no Discounts Retail property owners are shedding the discounts and other concessions they offered struggling tenants during the depths of the pandemic, the latest sign that competition for retail real estate is intensifying. It is a fairly recent turn of events for retail real estate, which for…
Big Decline in Real Estate Transactions, but not PricesCity of Tomorrow on Ballot in CaliforniaHome Sales Lowest in Almost 30 Years Big Decline in Real Estate Transactions, but not Prices There was just $374 billion of real estate sold in the U.S. last year, according to MSCI data released Wednesday, a 51% fall compared with…
Weekly News RoundupZuckerberg’s $270m+ Island FortressChinese Investor Major Holder of Timber LandCBRE Real Estate Forecast 2024 Zuckerberg’s Island FortressMeta CEO Mark Zuckerberg is building a sprawling compound in Hawaii with a huge underground bunker. The property, known as Koolau Ranch, will include a 5,000-square-foot underground shelter, have its own energy and food supplies, and, when…