Archive for Real Estate
Homes Are Getting Snapped Up at the Fastest Pace in 30 Years
Posted by: | CommentsThe typical U.S. home lasted just three weeks on the market, according to a new report.
Here’s more evidence that the defining characteristic of the U.S. housing market is a shortage of inventory for sale: Homes are sitting on the market for the shortest time in 30 years, according to an annual report on homebuyers and sellers published today by the National Association of Realtors…
Homes Are Getting Snapped Up at the Fastest Pace in 30 Years
Detroit’s Slow Acceleration
Posted by: | CommentsDetroit continues to rebuild its economy brick by brick and business by business, spurring demand for housing and pushing rent growth above the national average. This restoration is reflected in the local multifamily market’s improving fundamentals, which are also stimulated by the lowest unemployment rate in 17 years. Although investment has slowed down slightly, due to lingering skepticism about the market’s stability, high yields should remain enticing to buyers…
U.S. Pending Home Sales Weaker Than Forecast, Held Back by Irma
Posted by: | CommentsHyatt to Open 2nd Germany Hyatt House Location
Posted by: | CommentsRising Rents Are Pushing More Tenants Past the Breaking Point
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Almost 20 percent of those surveyed struggle to pay the rent
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Cities rocked by foreclosure crisis still see higher evictions
Rents have increased rapidly across U.S. housing markets as the share of renting households has risen faster than the number of new units. Now, in a survey published Thursday by an apartment-listing service, nearly one in five respondents reports struggling to make the monthly payments…
Rising Rents Are Pushing More Tenants Past the Breaking Point
Aman Resorts Is Bringing $50 Million Condos to NYC
Posted by: | CommentsScheduled to open in 2020, the resort will have 83 hotel rooms and 20 apartments.
Vladislav Doronin, the chairman and chief executive officer of Aman Resorts, the super-luxury hotel chain, is standing in the middle of a filthy concrete husk of a room in midtown Manhattan. “Look at this!” he says, gesturing through the dirt-stained windows of the 24th floor of the Crown Building, whose 4th through 26th stories he’d purchased with a partner for about $500 million in 2015. (The bottom three stories, which are for retail, are owned by other companies.)…
Aman Resorts Is Bringing $50 Million Condos to NYC
U.S. New-Home Sales Unexpectedly Jump to Highest Since 2007
Posted by: | CommentsU.S. purchases of new homes unexpectedly surged in September to the highest level in a decade as activity accelerated in the South after hurricanes Harvey and Irma, according to government data Wednesday…
U.S. New-Home Sales Unexpectedly Jump to Highest Since 2007
Hunter Hotels Brokers Sale of AR Hotels
Posted by: | CommentsHunter Hotel Advisors represented an institutional client in the sale of TownePlace Suites by Marriott and Candlewood Suites Rogers, two hotels in Bentonville, Ark. Investra Capital Inc. acquired the all-suite hotels. Hospitality Ventures Management Group will continue to manage both assets.
Located at 3100 S.E. 14th St., TownePlace Suites by Marriott features 78 keys equipped with full kitchens. Each suite includes hardwood floors, marble countertops and flatscreen TVs…
Iran Sanctions Over Support for Hezbollah Pass U.S. House
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House passes two sanctions bills; third vote planned Thursday
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Measures are unrelated to sanctions over nuclear program
The U.S. House passed new sanctions in response to Iran’s support for Hezbollah, part of a legislative package that stops short of addressing the Islamic Republic’s compliance with the multinational accord designed to curb its nuclear program…
Iran Sanctions Over Support for Hezbollah Pass U.S. House
Sumner Redstone’s Ex Has No Right to NYC Apartment, Judge Rules
Posted by: | CommentsSumner Redstone’s former girlfriend has no right to a $3.75 million apartment on Manhattan’s Upper East Side, a judge ruled, dealing another blow to Manuela Herzer’s legal campaign against her former lover…
Sumner Redstone’s Ex Has No Right to NYC Apartment, Judge Rules
Interstate Hotels Launches INTRIGUE Brand
Posted by: | CommentsInterstate Hotels & Resorts launched its lifestyle management division: INTRIGUE Hotels & Resorts by Interstate. In creation for nearly one year, INTRIGUE will focus on delivering innovative culture, style and technology as well as next generation lodging and experiential services.
Upon its introduction, INTRIGUE Hotels & Resorts draws from Interstate’s decades of experience operating independent and soft-branded properties across the country and around the world including Nomo SoHo in New York, N.Y.; Hotel Erwin in Venice Beach, Calif., The Charles Hotel in Boston and the Marker in Dublin…
Drury Buys Land for Future Arlington Hotel
Posted by: | CommentsDrury Development Corp. bought a 9.24-acre, mixed-use, zoned tract of land in Arlington, Texas. The site will be used for the building of a full-service hotel. Located at 2880 Dallas Parkway (west of the Lincoln Square retail center), the property will feature a 268-unit Drury Plaza Hotel and a restaurant.
The First Sign of a Correction in Sweden’s Housing Market Could Be Near
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Danske says ‘nobody really knows’ what risks lie in market
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Swedbank is more exposed to housing correction than its rivals
The first signs of a potential correction in Sweden’s housing market may well appear in the country’s property-management industry…
The First Sign of a Correction in Sweden’s Housing Market Could Be Near
Homes Get Snapped Up in Queens and Linger Longer in Manhattan
Posted by: | CommentsThinking of buying a home in Queens? Well, hurry up.
In almost all neighborhoods in the borough, properties that found buyers in the third quarter had been on the market for a median of less than three months. People looking for affordability close to Manhattan snapped up homes in Astoria, where listings were available for a median of 59 days. Next door in Woodside and Sunnyside, homes were listed for 58 and 56 days, respectively. Ridgewood had the fastest turnaround in the borough: a median of 42 days…
Homes Get Snapped Up in Queens and Linger Longer in Manhattan
Crescent to Manage Homewood Suites by Hilton Columbus/OSU
Posted by: | CommentsHomewood Suites by Hilton Columbus/OSU is now under Crescent Hotels & Resorts’ management. The newly built, upscale, 109-key hotel adds to Crescent’s growing management portfolio in North America.
Located at 1576 W. Lane Ave. in the Upper Arlington entertainment district, the hotel is two miles away from the Ohio State University and The Jerome Schottenstein Center and five miles from downtown Columbus. The building includes grocery shopping service, 24-hour pantry, indoor pool, fitness center and business center. Keys feature full kitchens, dining tables, pull-out sofas, free Wi-Fi, flat-screen TVs and balconies…
New Supply Tempers Rent Growth in San Antonio
Posted by: | CommentsEconomy Watch: HQ2 Could Raise Rents in Some Apartment Markets
Posted by: | CommentsBids to be the home of Amazon’s second headquarters, HQ2, were due on Thursday, and more than 50 cities (or metros with various polities collaborating) put in for what’s probably the biggest site selection prize of the 2010s. Now it’s up to the retail giant, which will announce the winner sometime in 2018.
This $14 Million Atlanta Home With Bunker Is ‘Safest in America’
Posted by: | CommentsThese Cities Make NYC Housing Look Dirt Cheap
Posted by: | CommentsHome2 Suites Pittsburgh Opens
Posted by: | CommentsHome2 Suites opened its newest property, Home2 Suites by Hilton Pittsburgh Area Beaver Valley, a 107-key hotel situated approximately 30 miles from downtown Pittsburgh.
Located at 1000 Wagner Road Extension South, the property is in close proximity to various retail, shopping, dining and restaurant such as Columbia Gas Training Center, Penn State Beaver, Community College of Beaver County and Beaver Valley Automall. Additionally, Pittsburgh International Airport is a 20-minute drive away…
How Hyatt Regency Hotel Complements Nashville’s Vibe
Posted by: | CommentsU.S. Homebuilders Gauge at Five-Month High Shows Storm Recovery
Posted by: | CommentsA rebound in homebuilders’ confidence to a five-month high indicates concern over fallout from major hurricanes has been alleviated, according to data Tuesday from the National Association of Home Builders/Wells Fargo…
U.S. Homebuilders Gauge at Five-Month High Shows Storm Recovery
Hammond Pledges ‘Fix’ for UK Housing Market Gone Wrong
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Chancellor concedes young people losing faith in free market
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Hammond constrained by Brexit effect on economic outlook
Chancellor of the Exchequer Philip Hammond said something has gone “wrong” with the U.K. housing market as his government pledges to tackle the issue of fairness between generations…
Ft. Lauderdale-Area Retail Center Changes Hands
Posted by: | CommentsCBRE brokered the sale of Regency Lakes Village Center, a multi-tenant, Class A shopping center in Coconut Creek, Fla. According to public records, Regency Lakes Village Center Partners LLC, an entity affiliated with Colorado-based ServiceStar Capital Management, sold the asset to Pacific Equities Capital Management.
Singapore Home Sales Drop as ‘Hungry Ghost’ Month Spooks Buyers
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September total apartment sales lowest since January
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City’s home prices rose in 3Q for first time in four years
Singapore home sales fell in September as developers marketed fewer projects in a month considered inauspicious by Chinese homebuyers…
Singapore Home Sales Drop as ‘Hungry Ghost’ Month Spooks Buyers
Canadian Homebuilders Are Actually Having a Breakout Year
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Home building shows surprising strength across the country
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Of condos built in Toronto, 99.9% were sold at completion
For Canada’s real estate developers, 2017 is shaping up to be a comeback year…
Canadian Homebuilders Are Actually Having a Breakout Year
London’s Stock of Unsold Homes Under Construction at Record High
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t will take 1.3 years to clear unsold units: Molior report
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Excess supply is worst for capital’s more expensive new homes
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London’s Stock of Unsold Homes Under Construction at Record High
Blue Counties Are Losing Residents Thanks to Rising Housing Costs
Posted by: | CommentsMore people are leaving “blue” counties, those that lean Democratic, than moving in. But politics aren’t the reason — home prices are…
Blue Counties Are Losing Residents Thanks to Rising Housing Costs
Allianz, Columbia Team Up on $421M DC Purchase
Posted by: | CommentsLondon House Prices Fall at Fastest Pace Since Financial Crisis
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Values in capital likely fell 2.7% in September, Acadata says
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Picture less downbeat outside capital and southeast England
London house prices are falling at their fastest pace since the aftermath of the financial crisis, confirming the British capital as the worst-performing part of a slowing market…
London House Prices Fall at Fastest Pace Since Financial Crisis
Deadly California Fires Stretch an Already Tight Housing Market
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Santa Rosa has fastest-growing rents in U.S. since 2012
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Fewer options for displaced than in Houston, Florida storms
Ethan de Seife and Laura Holtan moved to California’s Sonoma County from Vermont last year with their newborn son, two cats and a dog in tow, immediately running up against a harsh reality: the state’s housing market is expensive, and inventory-starved…
Deadly California Fires Stretch an Already Tight Housing Market
Distressed Investors Are Already Buying Houston Homes for 40 Cents on the Dollar
Posted by: | CommentsFlooded homes, big money, and hard choices.
Bryan Schild drives through the byways of Houston looking for what could be the investment opportunity of a lifetime: homes selling for as little as 40¢ on the dollar. “We Pay Cash For Flooded Homes $$$$$$$$ Don’t fix it, sell it. Quick close,” read the signs piled in the back seat of his Ford pickup…
Distressed Investors Are Already Buying Houston Homes for 40 Cents on the Dollar
New York’s Sweet Apartment Deals Are No Longer Wooing Renters
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New leases last month fell 11% in Manhattan, 4.1% in Brooklyn
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Rent reductions now may be needed to fill units, broker says
It’s a renter’s market in New York City, and after a year of being bombarded with landlord offers of gift cards and free months, apartment seekers are getting bored with all the perks…
New York’s Sweet Apartment Deals Are No Longer Wooing Renters
Don’t Worry About Inflation. Solve the Housing Shortage.
Posted by: | CommentsThe Fed is pre-emptively raising interest rates so the economy doesn’t overheat. But overheating is not the current problem.
As millennials age into their family-forming years, their tastes are shifting, and the American consumer industry is ready to appeal to them. But while stories about how Scotts Miracle-Gro intends to win over millennial consumers make for fun cocktail-party conversation, there’s a more serious question about aging millennial households. Will the economy be able to meet this growing demand from a generation that’s getting a late start on traditional measures of adulthood? History suggests the answer is no…
Londoners Have Been Losing 40% of Their Salaries to Rent
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Poorest left worse off by cuts to housing benefit, IFS says
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Housing a hot issue as parties offer rival solutions to crisis
Britain’s housing crisis was laid bare in a report that showed how soaring rents, particularly in London, can swallow salaries…
Government Eyeing ‘All Options’ to Cool Vancouver Housing Market
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Prices crimping investment, British Columbia minister says
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Trusts, empty homes and Airbnb under scrutiny by province
Vancouver’s million-dollar home prices aren’t just straining buyers, they’re holding back investment and businesses, said British Columbia’s finance minister, vowing to look at every option on the table to cool the market…
Government Eyeing ‘All Options’ to Cool Vancouver Housing Market
MCR Buys 2 Salt Lake City Marriott Hotels
Posted by: | CommentsMCR has acquired two Marriott hotels, the 97-key Marriott Courtyard Lehi and the 94-key Marriott SpringHill Suites Lehi, both located in the Salt Lake City suburb of Lehi, Utah, for $27.5 million.
“We specialize in purchasing limited-service Hilton and Marriott properties so these two hotels were right down the pipe for us,”Russ Shattan, MCR’s senior vice president of acquisitions and development, told Commercial Property Executive. “A 3-year-old Marriott Courtyard and a 6-year-old Marriott SpringHill Suites, both in a great location. They are beautiful assets, well built and one of the best brands in the business.”
London’s Luxury Home Sales Haven’t Been Boosted by a Falling Pound
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Transactions barely rise despite lower prices for Asian buyers
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Hong Kong, Singapore investors seen to be ‘tapped out’
Realtors who thought that London’s luxury-home market would be kick started by the pound’s fall after the Brexit referendum are being left disappointed…
London’s Luxury Home Sales Haven’t Been Boosted by a Falling Pound
Caesars Unit Completes Spin-Off of Real Estate Business
Posted by: | CommentsMizrahi Begins Construction on Canada’s Tallest Tower
Posted by: | CommentsFoster + Partners revealed its initial design of The One, Mizrahi Developments’ 860,300-square-foot skyscraper project in Toronto, in 2015 and now the architectural firm’s final vision is about to take shape—literally. Mizrahi recently broke ground on the 85-story mixed-use tower, which, at approximately 1,004 feet (or 306 meters) tall, will take on the title of the tallest building in Canada…
Retail RE Veteran Named Lat Purser VP
Posted by: | CommentsJames Penman Jr., a 20-year veteran of the retail real estate industry, was named vice president and promoted to the executive team of commercial real estate firm Lat Purser & Associates Inc. Since joining the company in 2015 as director of retail leasing, he has expanded the company’s retail platform and played a key role in the growth of rents and occupancy rates across the portfolio.
Outdated and Unreliable: FEMA’s Faulty Flood Maps Put Homeowners at Risk
Posted by: | CommentsWhen Hurricane Harvey ripped through Hitchcock, Texas, in August, it wasn’t just pummeled by nature. The town of 7,300, just across the bay from Galveston, was also the victim of a bad map: The local flood maps managed by the Federal Emergency Management Agency hadn’t been updated since 1983. That made it harder for residents to know if their homes were at risk of flooding—which might explain why fewer than one in four homes had flood insurance in a town that saw severe flooding during the storm.
Waterton Enters DC Hotel Market
Posted by: | CommentsMore U.K. Top Earners Turn to Government Loans for Homes: Chart
Posted by: | CommentsMore than 560 households earning 100,000 pounds ($132,500) or more used the Help to Buy loan program in the second quarter to help finance their home purchases as the government encourages people to acquire property. Home builders soared in London trading on Monday after Prime Minister Theresa May’s office said it would set aside 10 billion pounds to extend the program that lends buyers up to 40 percent of the cost of a new property…
More U.K. Top Earners Turn to Government Loans for Homes: Chart
Well being back in the Bay Area I realize once again how delusional people have become when it comes to chasing unicorn startups and all things real estate. I ran into multiple people and it seems like everyone is talking about real estate. Some of these people were showing me “deals” on apps like Zillow or Redfin on their phones. “This place with some work can then be flipped in a month for a $200,000 profit.” Why work when you can speculate on housing? The housing market is now in cult status and this psychological territory isn’t new. We don’t have to dig deep into historical texts and read about Florida real estate in the 1920s but need only look at the 2000s. San Francisco is out of control. And of course you have insulated mindsets from many that work in tech or the financial sector since they feel that money or an app can solve all of life’s challenges. Today we take a look at a home worthy of the crap shack title in San Francisco…
Toronto Housing Prices Fall for a 4th Straight Month
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Detached homes in Canada’s largest city taking it on the chin
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Still, home values up since 12% in September from year earlier
Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada’s biggest city…
Wells Fargo’s Home State Aims to Curb Use of Closed-Door Arbitration
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California Governor Jerry Brown signs arbitration measure
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Bill was inspired by outrage over bank’s fake accounts scandal
Wells Fargo & Co.’s home state of California passed a law aimed at curtailing the bank’s use of closed-door arbitration to shroud complaints from aggrieved customers affected by its scandals…
Wells Fargo’s Home State Aims to Curb Use of Closed-Door Arbitration
Mammoth Brooklyn Retail Condo Hits the Market
Posted by: | CommentsMadison Marquette has selected HFF to market the sale of a 59,930-square-foot retail condominium located in Brooklyn’s Williamsburg neighborhood. The unit is one of the borough’s largest retail structures, as it encompasses two full city blocks in the Waterfront/Kent Avenue retail corridor.
The property is located at 22 N. 6th St., within The Edge, a two-tower master-planned development comprising 1,450 residential units. The retail condominium boasts an underground parking garage with 491 parking spaces, premium frontage along Kent Avenue and North 6th Street, nearly 1.8 acres of open space and a public esplanade. The condominium is 81 percent occupied by tenants such as CVS Pharmacy and Brooklyn Harvest Market…
A Housing Plunge Doesn’t Concern Israel’s Top Economic Adviser
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Country’s decade-long housing bull market is losing steam
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Central bank says economic shock could endanger households
Israel’s economy is strong enough to weather a steep drop in housing prices, according to the prime minister’s top economic adviser, a view at odds with central bank warnings…
A Housing Plunge Doesn’t Concern Israel’s Top Economic Adviser
Manhattan Resale Home Prices at Record, Even After Discounts
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Median of $995,000 was reached after price cuts averaging 6.8%
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‘Market now is people who are motivated to sell,’ broker says
The price of Manhattan resale homes hit a record in the third quarter, but sellers shouldn’t get too bullish. It took some discounting to get there…
Manhattan Resale Home Prices at Record, Even After Discounts
Homebuilders Soar as U.K.’s May Stokes Slowing Property Market
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Extension will help about 135,000 people to buy a home
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Program is helping to keep sales values high in London
Homebuilders soared in London trading after the U.K. government said it would extend the Help to Buy program, under which the government lends buyers up to 40 percent of the cost of a new home…
Homebuilders Soar as U.K.’s May Stokes Slowing Property Market
GLRE Summit Report: Omni-channel Retailers Poised to Outperform Peers
Posted by: | CommentsRecently, industry executives convened at the 2017 Global Leaders in Real Estate Summit in New York City, a conference held in partnership with iGlobal Forum. At the event, top brass from GGP Inc., Olshan Properties and Staples Inc. conferred about retail growth opportunities and the sector’s accelerated transformation.
BEYOND THE HEADLINES
Echoing a popular belief, GGP CEO Sandeep Mathrani opened the discussion by asserting that retail is overbuilt and under-demolished, and suggesting that more retailers will continue closing stores to rationalize their real estate footprints. Opposing the narrative that says retail is dead, the panelists concurred that not all retailers—only those with under-performing properties in weak locations—are suffering…
London House Prices Decline for First Time in Eight Years
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U.K. capital is weakest performer for first time since 2005
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National house-price growth slowed slightly to 2% from 2.1%
London house prices posted their first annual decline since the financial crisis, Nationwide Building Society said…
London House Prices Decline for First Time in Eight Years
Singapore’s Home Prices Rise for First Time in Four Years
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Backdrop to latest data includes this year’s surge in sales
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Government’s cooling measures began in 2009, tweaked in March
Singapore’s home prices rose for the first time in four years, snapping a record run of declines and confirming recent signs that the property market is rebounding…
Singapore’s Home Prices Rise for First Time in Four Years
GLRE Summit Report: Real Estate Industry Facing Structural Changes
Posted by: | Comments“Rapidly shifting technologies, demographics, consumer behavior and political movements” are shaping the way the real estate industry conducts business and makes investment decisions, noted EisnerAmper CEO Charles Weinstein, opening the firm’s 2017 Global Real Estate Summit in New York City, which was held in partnership with iGlobal Forum. “We’re more interconnected than ever, which ultimately provides us with a host of new and exciting opportunities to explore both at home and abroad.”
Chinese Money Is Still Leaking Into the World’s Housing Markets
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Citizens bypass curbs to pump money into overseas property
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Demand rises for cheaper homes amid tighter currency controls
Shanghai restaurateur David Hu said he’s nervous about wiring money to Australia for a home purchase because of China’s crackdown on currency outflows. Instead, he plans to carry the cash in a suitcase…
Chinese Money Is Still Leaking Into the World’s Housing Markets
Toronto, London Among Riskiest Housing Bubble Cities, UBS Says
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London risk too high now, UBS economist Holzhey says
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Cheap loans, optimism fuel price growth in major cities
Toronto and London are among the cities most at risk of a housing bubble as economic optimism and low borrowing costs push up property values in urban areas worldwide, according to UBS Group AG…
Toronto, London Among Riskiest Housing Bubble Cities, UBS Says
DLA Piper Special Report: Opportunities in a Changing World
Posted by: | CommentsThe opening panel discussion at the DLA Piper 14thWorld Real Estate Summit called on panelists to explore how ever-swifter global change is impacting real estate.
“Real Estate in a Changing World” panel moderator Cynthia Foster, president of National Office Brokerage for Colliers International, headed a forum comprised of Imperial Cos. co-founder and managing partner Michael Fascitelli, Carlyle Group head of international real estate Adam Metz, Boston Properties CEO Owen Thomas and The Howard Hughes Corporation CEO David Weinreb. Panelists began by agreeing expectations in office space are dramatically changing…
Economy Watch: Real Estate Investment Off in First Half of 2017
Posted by: | CommentsTotal U.S. real estate investment volume dropped by 12 percent compared with the same period in 2016, with industrial being the only sector to increase volume in the first half of 2017, Avison Young reported recently.
Los Angeles led the way in total investment sales dollar volume at $11.5 billion as of the end of the second quarter of 2017, though that’s $2.7 billion less than the same period in 2016. Office, retail and multifamily sales dollar volumes were all below their mid-year 2016 levels. Only industrial sales volume picked up, by 17 percent, from the same time in 2016…
Strong Fundamentals Fuel Heavy Development in DC
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