Fundrise Unveils Its First Credit Fund To Help Fill Lending Gap
Washington, D.C.-based alternative asset manager Fundrise has formed its first fund focused on financing commercial real estate projects. The credit fund aims to raise $500 million and is designed to give individual investors access to opportunities emerging from...
First-Quarter Results Likely To Be the High Point of 2023 for Hotel Companies
Revenue Growth Rate Expected To Slow After Strong Start to the Year U.S. hotel industry revenue per available room in the first quarter was 16.7% higher than it was in the same quarter of 2022. This stronger-than-expected result was driven by a healthy average daily...
New Costco Design With Apartments Overhead Has Property Brokers Buzzing
Big Box Retail Chain Usually Isn’t a Ground-Floor Tenant in Multifamily Developments Costco, a retail chain known for cavernous buildings full of stacked goods, is working on a deal in Los Angeles that would put apartments full of potential customers on top of a...
Big Value Drop Could Be On The Horizon
Across the globe, more forecasts suggest a big drop in real estate values could be on its way. Bayes Business School in London indicated values need to fall between 25% and 30% to match today’s lending realities of tighter underwriting and higher costs. Just such a...
Monthly Apartment Rents Fall in August for First Time in Nearly Two Years
Orlando, Florida, Holds Top Spot for Annual Rent Growth Month-to-month apartment rents fell in August for the first time in nearly two years, sending another signal that the U.S. multifamily market is headed toward normalcy. Asking rents fell 0.1% in August from July...
Netflix Puts LA-Area Office Space Up for Sublease After Posting Gloomy Subscription Numbers
Netflix, once one of the most active office tenants in Hollywood, now is attempting to shrink its greater Los Angeles real estate footprint after layoffs and a decline in subscribers. The Los Gatos, California-based company has put up roughly 180,000 square feet of...