Month: July 2020

(iStock) A staggering 5 million square feet of sublease space went on the market in Los Angeles County in the second second quarter, as transaction volume plummeted during the stay-at-home lockdown and difficult reopenings. Available sublease spiked to 6.1 million square feet, from 1.1 million square feet during the first quarter, the largest quarterly increase…

Brookdale Senior Living president and CEO Lucinda M. Baier and Ventus CEO Debra Cafaro (iStock) Senior housing and medical office REIT Ventas has renegotiated leases for a firm that operates 121 of its senior living facilities across the country. Ventas CEO Debra Cafaro said the agreement with Brookdale Senior Living addresses the financial toll the…

BH Properties CEO Steve Gozini (BH Properties, iStock) West Los Angeles-based investment firm BH Properties launched a $200 million distressed real estate fund to capitalize on a wave of opportunities expected in the near future. The firm is betting on a “dramatic and troubling increase” in foreclosures, defaults, receiverships, and bankruptcies nationwide when coronavirus-related government…

(iStock) Interest rates on so-called jumbo mortgages are above the historically low rates for smaller traditional mortgages for the first time in five years. It’s a sign that lenders now see smaller loans as safer since the federal government stepped in to hold up the mortgage market amid the coronavirus pandemic, according to the Wall…

Authentic Brands CEO Jamie Salter and an Ann Taylor store (Getty) Authentic Brands wants to make another big investment in the retail apocalypse. The company, along with frequent partners Simon Property Group and Brookfield, is eyeing the purchase of Ascena Group, according to Bloomberg. The parent company of Ann Taylor, Loft, and Lane Bryant filed…

Elon Musk and the Cybertruck with Austin, Texas (Getty) Tesla plans to build a $1.1 billion auto assembly plant in Travis County outside Austin. There’s no word on whether Elon Musk is paying in Bitcoin, but the factory will be one of the largest economic development projects in Austin’s history, according to the Austin American-Statesman.…

Switzerland (Credit: iStock) Some parts of Switzerland may soon become better corporate tax havens than the mother of all tax havens, Hong Kong. The Swiss government is implementing a massive tax reform that could drop the tax burden in some Swiss cantons below 10 percent, according to a BAK Economics study reported by Bloomberg. The…

The coronavirus pandemic hampered luxury residential deals in most major cities across the globe High-end residential sales in the world’s most expensive cities dropped like a rock in the first half of the year. Sales above $10 million dropped 53 percent year-over-year in 12 pricey cities tracked by Knight Frank. New York and London saw…

A recent Cowen and Company report projects a 47 percent drop in attendance at Disney-owned parks next year and a 35 percent drop the year after. (Getty) Attendance at Disney-owned parks could drop by nearly 100 million people over two years, a report by market analysts at Cowen and Company forecasts. Cowen doesn’t expect the…

(iStock) Many office landlords are beefing up their HVAC systems and running them longer to mitigate the airborne spread of Covid-19, but that comes at a cost. Increasing the circulation of outside air through a building is seen as the best way to ensure safe and clean air, but it has to be heated or…