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Archive
Q4 ‘22 Property Sales Post Worst Slowdown Since the Great Recession
In today's edition, 2022’s Q4 property sales were this century’s worst since the Great Recession. Apple announced plans to add nearly 1 MSF of development to its Austin, TX campus. Manhattan tenants in Stuy Town won an ongoing case that will prevent Blackstone from destabilizing their rents, and much more.
Apartment Rent Growth Expected to Cool in 2023
A large number of new rental buildings set to be completed in the next few years is expected to reduce rent growth in cities across the country, leading to rent declines in some popular Sunbelt cities due to tenants feeling unable to spend a larger portion of their income on rent.
Kroenke Expands LA Empire with $325M Mall Purchase
LA Rams owner Stan Kroenke has purchased The Village, an outdoor mall in the San Fernando Valley area of Los Angeles, for $325 million. The sale by Paris-based Unibail-Rodamco-Westfield marks the company's latest disposition in its exit from the US retail market and is one of the largest property sales in LA in the past year.
Las Vegas Casino Project Scores $2.2B Loan to Cross the Finish Line
Fontainebleau Las Vegas secures $2.2bn construction loan to complete long-stalled project, set to be completed in late 2023 and featuring 3,700 hotel rooms, 550,000 sq ft of convention and meeting space, gaming, dining, retail and health and wellness spaces.
Big Tech’s Correction Spells Trouble For Data Center REITs
Northern Virginia has now surpassed Silicon Valley to become our national data center hub, consuming enough electricity daily to power 1.5M homes. But now that a market correction has curbed Big Tech’s appetite, data center owners may have too much on their plate.