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Blog
New analysis of LA fires reveals property damages top $30 billion
Three weeks after the onset of the most destructive wildfires in California history, a new analysis has determined that the blazes wiped out almost $31 billion in property value, including land. The findings, based on exclusive data from CoStar Group, show that lost value stems from approximately 11,200 residential and commercial properties burned in the […]
As wave of commercial loans comes due, concerns rise over tougher payment options
This month alone, $8.6 billion of commercial mortgage-backed security loans are scheduled to come due. That’s putting pressure on the property lending system after years of leniency on holders of maturing debt — and leading some industry professionals to expect an increase in foreclosures. The debt maturities on the 16 loans of $100 million or […]
Amazon picks Georgia for $11 billion investment in data centers
Amazon Web Services’ latest target in its acceleration of multibillion-dollar data center development is Georgia, where the cloud computing giant has been scooping up hundreds of acres over the past few months. AWS, a subsidiary of Amazon, plans to spend $11 billion over an undisclosed period to expand its infrastructure in Georgia to support cloud […]
Will this Chicago office sale lead to world’s tallest teardown?
Chicago’s real estate community is abuzz in recent days after word emerged that one of the city’s tallest skyscrapers is set to sell for about $70 million, a steep discount from the last time it changed hands, although the object of their chatter is not primarily the sale price. More tantalizing is the long-shot prospect […]
Home sales jump in October to mark first annual increase in more than three years
In a promising sign for the housing market, sales of existing single-family homes and condos rose nearly 3% higher than a year ago last October, marking the first annual increase in more than three years. Sales during the month also climbed 3.4% from September. That rise, combined with a growing inventory of properties for sale, […]
AvalonBay launches its first dedicated build-to-rent business to capture growing demand
On the south side of the 12th fairway at the Falconhead Golf Club just 14 miles outside Austin, Texas, terra-cotta roofs from opposing rows of newly built single-family townhouses stretch out along Ryder Gray Drive. The quiet street is ground zero in a demand shift in the U.S. rental provider industry. The development, opened in […]
Blackstone to buy Jersey Mike’s, the latest private-equity takeover of a US restaurant chain
Blackstone still has a hearty appetite for investing in restaurant chains as it looks to buy a majority stake in Jersey Mike’s Subs for a reported $8 billion — marking the latest deal by a private-equity firm aiming to supercharge a growing company’s brick-and-mortar expansion. New York-based giant Blackstone said it reached an agreement for […]
Los Angeles apartment executives breathe sigh of relief over failure of California rent control expansion
Multifamily landlords and brokers in California are breathing a sigh of relief after residents voted against a ballot measure that would have expanded rent control in the state. Proponents of the Justice for Renters Act, or Proposition 33, said the measure would help in efforts to increase affordable housing, while opponents feared it could have […]
Texas buys largest privately owned ranch on the market in the state from billionaire
The oldest state agency in Texas has purchased two sprawling ranches in the state in separate real estate transactions with plans to build a border wall on one of them. The Texas General Land Office announced the acquisitions last week that include the largest privately owned ranch on the market in Texas: the 353,785-acre Brewster […]
Housing market about to ‘take off like a jet,’ real estate leaders say
As one of the worst years for home sales draws to a close, real estate leaders have a message for agents and consumers: Get ready for January. “Come the first of the year, I think things will take off,” Anthony Lamacchia, CEO and founder of Lamacchia Realty, told a room of residential real estate professionals […]