Archive for Real Estate
LoanDepot Turns to Humans for Fintech’s Latest Real Estate Push
Posted by: | Comments-
CEO says customers want more services ‘under one brand’
-
Closely held firm climbs ranks of U.S. mortgage lenders
LoanDepot Inc., a mortgage lender basing its growth around digital applications, isn’t giving up on humans’ role in the home-buying process just yet…
LoanDepot Turns to Humans for Fintech’s Latest Real Estate Push
BPDA Approves 159-Key Hotel in South Boston
Posted by: | CommentsThe Boston Planning & Development Agency (BPDA) board of directors has approved a new eight-story, 159-key hotel in South Boston. Evergreen Property Group LLC is the owner and developer, while Utile Inc. is the architecture studio behind the design.
Hong Kong Takes Title for Least Affordable Housing for 8th Year
Posted by: | Comments-
City takes top spot in annual Demographia affordability survey
-
Study looks at 293 metropolitan markets in nine countries
Hong Kong was named the least affordable housing market for the eighth year in a study that put Sydney in the No. 2 slot and Vancouver as No. 3…
Hong Kong Takes Title for Least Affordable Housing for 8th Year
‘Long Winter’ Seen Ending for Singapore Home Prices: Survey
Posted by: | Comments-
Top 3 land developers set to report earnings in February
-
More than 10 analysts surveyed expect a price recovery in 2018
The worst may be over for Singapore’s property slump…
Downtown L.A. Is Starting to Mirror Manhattan’s Glut of Apartments
Posted by: | Comments-
Signs of rent weakness emerge as construction approaches peak
-
Almost all of the new units are aimed at the high end
Landlords counting on downtown Los Angeles as a cash machine may be in for the same bout of pain as their counterparts in Manhattan, where a flood of supply has started to drive down rents.
Obama Presidential Center Project on Track
Posted by: | CommentsThe Obama Foundation has submitted the Planned Development and Lakefront Protection Ordinance Application with the City of Chicago. The application is for city zoning entitlements and contains the revised construction plan for the upcoming presidential center, which is scheduled to break ground by the end of 2018 if the approval process goes smoothly.
Marcus & Millichap Brokers Sale of Bay Area Mini Storage
Posted by: | CommentsThe Mele Group of Marcus & Millichap has arranged the sale of Bay Area Mini Storage, a 95,479-rentable-square-foot facility in Corpus Christi, Texas. The firm marketed the property on behalf of the seller, a limited liability company, as well as the buyer, a private investor.
Kushner’s Deutsche Bank-Backed Property Stung by Tenant Troubles
Posted by: | Comments-
Restaurants and stores underpin $370 million of debt
-
NY prosecutors last year requested documents for the space
In a six-floor retail space near Times Square, the Guy Fieri restaurant has closed and construction hasn’t begun on celebrity chef Todd English’s food hall. A tourist attraction featuring a 1/87th scale model of New York City was behind on rent for two months as of December, according to loan documents…
Kushner’s Deutsche Bank-Backed Property Stung by Tenant Troubles
WoodSpring Debuts Extended-Stay Hotel in WA
Posted by: | CommentsWoodSpring Hotels has launched WoodSpring Suites Seattle Redmond, a 120-key hotel designed for extended stay. The asset was developed by West 77 Partners LLC and will be operated by WoodSpring Hotels Property Management.
“By fully utilizing our expertise in the extended-stay segment and the profitability that is a result of our unique operating model, the WoodSpring Suites brand continues to attract first-rate developers like West 77 Partners,” said Ron Burgett, executive vice president of franchise development and operations for WoodSpring Hotels LLC, in prepared remarks…
U.S. Housing Starts Fall More Than Expected, Permits Steady
Posted by: | CommentsGroundbreaking on new U.S. homes eased from the fastest pace in 13 months while permits held steady to finish the strongest year for housing construction in a decade, government figures showed Thursday…
U.S. Housing Starts Fall More Than Expected, Permits Steady
Hong Kong’s Red-Hot Home Market Set to Defy Rate Hikes
Posted by: | Comments-
Warnings from HKMA, IMF have been falling on deaf ears
-
Inflows of liquidity are capping local interest rates
Why are official warnings of the threat that rising interest rates pose to Hong Kong’s red-hot housing market falling on deaf ears?…
U.S. House Passes Spending Bill to Avoid Government Shutdown, Senate in Doubt
Posted by: | Comments-
Government funding ends at midnight Friday without new deal
-
Senate Democrats say they have enough votes to block bill
The House passed a spending bill Thursday to avoid a U.S. government shutdown, but Senate Democrats say they have the votes to block the measure in a bid to force Republicans and President Donald Trump to include protection for young immigrants…
U.S. House Passes Spending Bill to Avoid Government Shutdown, Senate in Doubt
The Value of New York Real Estate Jumps More Than 9%
Posted by: | Comments-
Brooklyn leads burroughs with an increase of 12 percent
-
Manhattan real estate has slowest price growth, up 7 percent
New York City is still reaping the benefits of the real estate boom.
Poll: Tax Bill Provisions’ Impact on Real Estate
Posted by: | CommentsCPE has a new poll! We want to know your thoughts on how the tax bill provisions reducing the corporate and pass-through rates will impact the real estate industry.
Last month, we wanted to know how your predictions of Trump’s influence on real estate changed since he took office one year prior. Of the total respondents, an equal 26 percent said the president had either a neutral or negative impact on the industry. Read on to see the results…
Homebuilder Sentiment in U.S. Cools in January From 18-Year High
Posted by: | CommentsSentiment among America’s homebuilders eased in January to the second-highest level since 2005, a sign the housing market will continue to make strides this year, according to data Wednesday from the National Association of Home Builders/Wells Fargo…
Homebuilder Sentiment in U.S. Cools in January From 18-Year High
U.K. House Prices Eke Out Gains
Posted by: | Comments-
RICS gauge of house prices advances to 8 in December
-
Demand appears weaker as new buyers and transactions decline
U.K. house prices are edging higher, but the market remains subdued…
U.K. House Prices Eke Out Gains
Now Open: 2018 Leaders in Real Estate Education Survey
Posted by: | CommentsStockholm Has Too Many Hotel Rooms and It’s Hurting Share Prices
Posted by: | Comments-
Scandic warns of lower earnings from Swedish operations
-
Hotel stocks slump as oversupply echoes housing market glut
It’s not just Stockholm’s housing market that is feeling the weight of a surge in supply. Profitability among hotels is also under pressure as demand fails to fill a raft of new rooms in the Swedish capital…
Stockholm Has Too Many Hotel Rooms and It’s Hurting Share Prices
Will Anyone Rent This Apartment for $100,000 a Month?
Posted by: | CommentsIt’s got three outdoor showers and a terrace that overlooks the Met.
Pier Guerci, the former president of the U.S. division of Loro Piana, wasn’t ready to give up his Fifth Avenue penthouse apartment…
Will Anyone Rent This Apartment for $100,000 a Month?
The London Borough Where Home Prices Have Crashed by 21%
Posted by: | CommentsLondon property is having a tough time, but one borough is suffering more than most. Home prices in Southwark — an area to the south of the Thames that includes London Bridge station, Shakespeare’s reconstructed Globe Theatre and trendy Peckham — fell more than 20 percent in the year through November, according to a report from LSL Acadata on Monday. That saw the average home price there drop from 709,130 pounds ($980,000) to 559,529 pounds…
The London Borough Where Home Prices Have Crashed by 21%
Canadian Housing Agency Shuffles Management as CFO Leaves
Posted by: | Comments-
Changes come as Canada’s uninsured mortgage market swells
-
Leaders being asked to take on redefined roles, agency says
Canada Mortgage & Housing Corp. replaced Chief Financial Officer Wojo Zielonka and shuffled its leadership ranks to “better address current and emerging business needs.”
London Housing Woe Endures as Prices Drop to 2 1/2-Year Low
Posted by: | Comments-
Sellers cut asking prices 1.4% in the U.K. capital in January
-
Numbers of days required to sell property is climbing
The new year brought little cheer for London’s housing market with asking prices dropping to the lowest since August 2015.
Manhattan Neighborhood Near Newest Subway Defies Rent Declines
Posted by: | CommentsApartment rents are on the decline in almost every Manhattan neighborhood. But in Yorkville, the Upper East Side enclave with a brand-new subway line, landlords are demanding more.
Westchester, Home of America’s Highest Property Taxes, Braces for a Hit
Posted by: | Comments-
With cap on deductions, ‘everyone’s calling their accountant’
-
County’s homeowners pay highest property taxes in the U.S.
The real estate market in New York’s Westchester County, home to the country’s largest property-tax burden, has been on a roll. After a tax overhaul that saddles residents with even higher costs, everyone’s wondering: Can it continue?…
Westchester, Home of America’s Highest Property Taxes, Braces for a Hit
Renting a Condo in Toronto Is a Losing Battle With Dizzy Prices
Posted by: | Comments-
Average rent rose by 9.1 percent in the fourth quarter
-
A frenzy of building, with development at a 25-year high
Go ahead, just try to rent an apartment in Toronto.
Barratt Becomes Latest Victim of U.K. Homebuilder Buyer Fatigue
Posted by: | CommentsJust as British home buyers are finding costs ever-so-slightly more affordable, the price of housebuilders is becoming an increasing stretch.
Strong trading updates this week from Persimmon Plc, Taylor Wimpey Plc and most recently Barratt Developments Plc have been greeted by falling share prices as buyer fatigue sets in…
Barratt Becomes Latest Victim of U.K. Homebuilder Buyer Fatigue
One in Four U.S. Homebuyers Paid Above Listing Price Last Year
Posted by: | CommentsA tight supply of U.S. homes for sale, coupled with low mortgage rates, led buyers to bid aggressively last year, with 24 percent paying more than the asking price, according to Zillow. That’s the biggest share since the home-listing site began compiling the data in 2012…
One in Four U.S. Homebuyers Paid Above Listing Price Last Year
Hottest Home Market in Euro Area Has Irish Lawmaker Feeling Pain
Posted by: | Comments-
Irish house prices are booming amid shortage of homes
-
Price crash led to economic collapse and bailout a decade ago
Irish lawmaker Noel Rock has a very direct interest in the nation’s new house price surge — he’s trying to buy a home in the euro-zone’s hottest market.
Hong Kong Property Is Shielded From Rate Spikes, HSBC Says
Posted by: | Comments-
There’s still a large buffer in interbank liquidity: Leung
-
Ample liquidity has spurred rallies in H.K. stocks, property
Don’t expect interest rates to spike anytime soon in Hong Kong, where abundant liquidity has fueled spectacular rallies in the stock and property markets…
NYC No Longer First Global City in RE Investments
Posted by: | CommentsApparently spurred by e-commerce’s impact on industrial and logistics properties near its port, Los Angeles has tied New York as the number one city in the United States for foreign investment, moving up from second last year in an annual survey.
Penthouse With Lake Views Leads Record Luxury Condo Sales in Canada
Posted by: | Comments-
Toronto, Vancouver, Montreal sales above C$1 million surge
-
Sotheby’s says 2018 outlook for condo market remains strong
A C$20 million ($16 million) penthouse with views of downtown Toronto and Lake Ontario helped luxury condominiums shatter sales records in Canada last year, bucking a cooling trend in the rest of the housing market…
Penthouse With Lake Views Leads Record Luxury Condo Sales in Canada
Sydney Homes Aren’t So Attractive to Chinese Investors This Year
Posted by: | Comments-
Foreign investment in Sydney’s housing falls 5.5% pts in year
-
Australia has raised stamp duty, taxes for foreign buyers
Chinese demand for Australian housing is cooling as both nations’ governments tighten the screws on investment activity…
Sydney Homes Aren’t So Attractive to Chinese Investors This Year
Mumbai Home Prices Post First Drop in Decade Amid Modi Crackdown
Posted by: | Comments-
Residential launches, sales fall steeply across 8 cities
-
No hardening of prices seen in 2018; recovery to take a year
India’s financial capital Mumbai witnessed a decline in residential property prices for the first time in a decade last year following a crackdown on undeclared cash, new consumer protections and the roll-out of a nationwide sales tax, according to Knight Frank…
Mumbai Home Prices Post First Drop in Decade Amid Modi Crackdown
What if Real Estate Investors Are Looking at the Housing Market All Wrong?
Posted by: | CommentsThe biggest mistake real estate investors often make is ignoring the supply side.
That’s the view of Harvard Professor Edward Glaeser, who’s touring Scandinavia as a speaker at the annual Skagen Funds conference.
While economic analysis traditionally tends to look at the demand side of the housing market, ignoring the supply side could prove fatal, Glaeser said, warning of “unfettered supply” in China’s second- and third-tier cities…
What if Real Estate Investors Are Looking at the Housing Market All Wrong?
Interstate Lands Management of Philly Hotel
Posted by: | CommentsInterstate Hotels & Resorts has been selected to manage Renaissance Philadelphia Airport Hotel, which was recently acquired by AMENA Hotels, a subsidiary of AVANA Capital. The firm acquired the property from previous owner Columbia Sussex at the end of November 2017, according to Delaware County records. The new owner plans to start comprehensive renovation work soon.
Hong Kong Property’s Curious Disconnect
Posted by: | CommentsHong Kong’s towering home prices might rise another 10 percent this year. All the more reason to shun developers and buy retail or even office landlords.
That might not make sense at first glance, but the real estate boom hasn’t benefited developers in the city much in the last seven years. There’s been a disconnect, as JPMorgan Chase & Co. analyst Cusson Leung notes, between the city’s residential prices — up 200 percent since 2009 — and stocks like Li Ka-shing’s CK Asset Holdings Ltd. and Henderson Land Development Co…
Hong Kong Property’s Curious Disconnect
NKF Arranges Sale of Best-In-Class MA Asset
Posted by: | CommentsA private real estate fund advised by Crow Holdings Capital Partners-Real Estate (CHC-RE) has purchased Middlesex Marketplace in Burlington, Mass. NKF Capital Markets represented the private seller of the best-in-class retail property.
The site is located along Middlesex Turnpike, an important retail corridor in Burlington and the western Boston area, providing visibility for an average of 37,400 vehicles per day. Comprising 38,243 square feet, Middlesex Marketplace dates back to 2013 and features a free-standing build-to-suit space for Del Frisco’s Grille…
PGIM Real Estate Names Marcus as Next Americas Head
Posted by: | CommentsAfter 36 years at PGIM Real Estate, Kevin Smith, the firm’s head of Americas, will retire in March, a plan originally announced to investors last May.
In his time at the company, Smith served as head of its U.S. business from 2012 to 2014, was senior portfolio manager for PGIM Real Estate’s flagship core equity real estate fund, PRISA, as well as its value-add fund, PRISA III, and was responsible for the oversight of all aspects of each fund’s operations, including portfolio strategy, acquisitions, sales and asset management…
U.K. House Prices Drop in December as Economy Loses Steam
Posted by: | CommentsU.K. house prices fell for the first time in six months in December amid economic uncertainty and a squeeze on incomes.
Prices slid 0.6 percent on the month, the first decline since June, mortgage lender Halifax said on Monday. Annual price gains slipped to 2.7 percent in the last three months of the year, from 3.9 percent previously…
U.K. House Prices Drop in December as Economy Loses Steam
Hong Kong Housing Market Is Starting to Cool, Credit Suisse Says
Posted by: | CommentsHong Kong’s property boom is quietening down, according to Credit Suisse Group AG.
The brokerage projects home prices in the city will rise 3 percent this year, compared with 13 percent in 2017, as the risk of higher interest rates and increasing housing inventory grows. Faster supply of new units will suppress price growth in the “mid-to-long run,” said analyst Susanna Leung, advising investors favor developers with strong sales in recent years. Credit Suisse’s top picks are CK Asset Holdings Ltd. and New World Development Co…
Hong Kong Housing Market Is Starting to Cool, Credit Suisse Says
The Tax Law Hits Manhattan Home Sales
Posted by: | Comments-
Apartment shoppers hold firm on prices as gains moderate
-
Owners offered average discounts of 5.7% in the fourth quarter
Manhattan home resales fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay…
The Tax Law Hits Manhattan Home Sales
Houston Embarks on Healing Process
Posted by: | CommentsThe Houston apartment market is still struggling to recover from the 2015 oil price drop. Despite its havoc, Hurricane Harvey provided a short-term boost to fundamentals, as demand for living space from residents displaced by the storm temporarily increased multifamily occupancy.
Australian Home Prices Fell in Final 3 Months of 2017
Posted by: | Comments-
Sydney market continues to cool, declining 2.1% in quarter
-
Expect softer housing conditions in year ahead, CoreLogic says
Australian home prices fell in the final three months of 2017, the first such decline in almost two years, as the nation’s biggest market Sydney continued to cool.
Values nationally declined 0.3 percent in three months to Dec. 31, the first such drop since the period ending April 2016, according to CoreLogic Inc. data released Tuesday. Prices in Sydney dropped 2.1 percent in the quarter, dragging the city’s annual growth rate to 3.1 percent from 17.1 percent just seven months ago…
Home2 Suites Opens in Broward County
Posted by: | CommentsHome2 Suites by Hilton has opened its milestone 200th property in Miramar, Fla. The 101-key Home2 Suites by Hilton Miramar Ft. Lauderdale is owned by Hotelex Group LLC and managed by Naples Hotel Group LLC. The hotel matches the potential of Greater Fort Lauderdale’s strong tourism sector, providing a range of tech-focused and eco-conscious amenities.
The property is located at 2800 SW 149th Ave., offering easy access to I-75, a wide range of shops and restaurants, Hard Rock Stadium and Huntington Corporate Plaza. Miramar Regional Park is 1.4 miles away…
Singapore Home Prices Rise for Quarter Adding to Rebound Signs
Posted by: | Comments-
Residential prices gained 0.7 percent last quarter, data show
-
City’s cooling measures may limit pace of further gains
Singapore home prices rose for a second straight quarter, reinforcing signs the city-state’s property market is emerging from a four-year slump…
Singapore Home Prices Rise for Quarter Adding to Rebound Signs
U.K.’s Biggest House-Price Jumps Came Outside London Last Year
Posted by: | CommentsAn English spa town and two coastal areas saw the biggest house-price increases in the U.K. last year, outstripping gains in London’s hotspots…
U.K.’s Biggest House-Price Jumps Came Outside London Last Year
Falling Australian Home Prices A Sign of Things to Come in 2018
Posted by: | CommentsSydney’s cooling property market cause first quarterly decline in almost two years
The first quarterly decline in Australian home values in almost two years may be a sign of what’s to come. National dwelling values fell 0.3 percent in the last three months of 2017, the first such drop since the period ending April 2016, weighed by Sydney’s cooling property market, according to CoreLogic Inc. data released Tuesday. Softer conditions throughout 2018 are likely as “Sydney’s housing market has become the most significant drag on the headline growth figures,” said Tim Lawless, CoreLogic’s head of Australia research…
Luxury Hotel Breaks Ground in Tribeca
Posted by: | CommentsThe developers of an eight-story luxury hotel planned for 456 Greenwich St. in Manhattan’s Tribeca neighborhood are betting on demand for ultra-luxury accommodations and a lack of supply in an area that is booming with new development.
“Combining its historic roots with an extraordinary influx of development and investment, Tribeca continues to be one of the most charming and sought-after neighborhoods in the entire city,”Joshua Caspi, principal of Caspi Development, said in a prepared statement…
Cranes Keep the Strip in Growth Mode in Las Vegas
Posted by: | CommentsWith rents rising at the second-fastest rate in the nation by the end of October, the Las Vegas multifamily market is enjoying a strong spell across the board. Employment growth is driving significant population gains, resulting in more development. The city’s much-maligned housing market is nearing a full rebound to pre-downturn levels, on the back of household creation in rentals. A relatively low average rent of $974 has helped strengthen Sin City’s newfound appeal…
U.S. Renters Paid a Record High $485.6 Billion in 2017: Zillow
Posted by: | Comments-
Housing market grew $2 trillion in 2017 to $31.8 trillion
-
Los Angeles-Long Beach-Anaheim housing stock leads at $2.7 tln
The total value of all homes in the United States rose 6.5 percent in 2017 to $31.8 trillion, according to Zillow. Renters paid a record $485.6 billion this year…
U.S. Renters Paid a Record High $485.6 Billion in 2017: Zillow
Homes in U.S. Gained $2 Trillion in Value This Year, Zillow Says
Posted by: | Comments-
Country’s total housing stock now worth $31.8 trillion
-
The 6.5% jump is biggest since 2013, but lags other assets
Your home may not have made the same gains as stocks or bitcoin, but it still was a robust year for the U.S. housing market…
Homes in U.S. Gained $2 Trillion in Value This Year, Zillow Says
Landlords Hold Pricing Power in Orange County
Posted by: | CommentsDemand for apartments continues to be strong in Orange County, where high construction costs and surging land values maintain the housing market as one of the most expensive in the country. Following this year’s surge in construction, occupancy has remained tight, indicating rapid absorption of new deliveries, while rent growth dropped to 2.6 percent as of October.
Contract Signings to Buy Existing U.S. Homes Rose in November
Posted by: | CommentsA measure of contract signings for the purchase of previously owned U.S. homes unexpectedly increased in November after surging a month earlier, according to data released Wednesday by the National Association of Realtors…
Contract Signings to Buy Existing U.S. Homes Rose in November
Forest City Initiates Major Retail Selloff
Posted by: | CommentsAs the year draws to a close, Forest City Realty Trust Inc. continues making progress on its plan to sell off retail holdings and focus on urban office, residential and mixed-use assets, recently announcing closings with two of its joint venture retail partners.
The larger of the two transactions was with Madison International Realty LLC, which bought out 10 specialty retail centers in the New York City region. The REIT also said it had closed on the sale of its interest in South Bay Galleria, a 960,000-square-foot regional mall in Redondo Beach, Calif., to QIC…
Cambria Hotel Coming to Orlando
Posted by: | CommentsReal Estate Financing: What to Expect in 2018
Posted by: | CommentsRent for the Poor Really Is Too High
Posted by: | CommentsAfter paying for housing, those in the lowest income bracket have little left for life’s essentials.
Are poor Americans doing better than they used to, or worse? It’s hard to know, because so many important things in life — social status, emotional health, human relationships — can’t be measured. But in purely material terms, many things have improved…
Rent for the Poor Really Is Too High
The San Francisco housing market is the most overvalued market in the United States. People over inflate the market because tech is sexy and cool and many are chasing the next Google, Amazon, or Facebook. Everyone wants to strike it rich with as little work as possible. And what better way to do that than in real estate? In San Francisco the typical crap shack will cost you $1.2 to $1.5 million. The response from many housing cheerleaders is the typical logic you see in manias – hey, someone paid for it! You also get similar stories from the tulip bubble, dotcom bubble, and other bubbles where the justification for higher prices is simply that some other sucker paid for it at that level. And there is now signs that we may be in a rental bubble in the Bay Area. 83 percent of renters surveyed in the Bay Area said they plan on leaving. Tie that in with the UBS Global Real Estate Index showing that San Francisco is dangerously close to bubble territory and you have indicators that something is rotten in SF…
Rockbridge Opens Nashville Luxury Hotel
Posted by: | CommentsRockbridge Capital has opened downtown Nashville’s newest luxury hotel, operated by MAKEREADY under Marriott International’s Tribute Portfolio flag. Known as Noelle, the 224-key, 13-story historic structure was first opened as a hotel in 1930 by the Noels, a prominent family in the area. The building was later converted to office space, though it was left vacant in recent years. Rockbridge acquired the property in late 2013, and began adaptive reuse work approximately two years later, financed by a $42 million construction loan held by Wells Fargo Bank.
It seems like a lot of people are tripping over themselves regarding the GOP tax plan. For California, the housing cheerleaders always trumpeted the massive amount of tax deductions you got when buying a ridiculous crap shack. I always found this to be absurd. You usually got “free market” thinkers on the economy but then suddenly, wanted massive government support when they bought their expensive home. In the Bay Area a crap shack will cost you $1.5 million if you even want to have a parking spot within walkable distance. So it is no surprise that the GOP tax plan doesn’t give two seconds of thought as to what is good for California. And good just means on what side of the dinner table you are sitting at. Frankly, the rest of the country subsidizes the crazy housing market in California and other expensive states so it never made sense to have a mortgage interest deduction of up to $1,000,000 when the typical house in the U.S. costs $200,000. In regards to housing, the GOP tax plan will not help California housing values…