Month: July 2020

Beijing Rents are falling in some of China’s biggest cities amid a decrease in demand for apartments. The overall economic slowing brought on by the global coronavirus pandemic as well as China’s ongoing trade war with the United States are both impacting the apartment market in China, according to the Wall Street Journal. Average rents…

House Island in Portland, Maine The vacation rental market isn’t what it used to be before the coronavirus pandemic. Vacation home owners across the country have recast their properties as safe and remote bases to ride out the pandemic, extended rental periods to months and even season-long, and of course upped the rental rate. The…

President Trump (Getty, iStock) In an apparent bid to gain votes in suburban areas, President Donald Trump repealed an Obama-era fair housing rule. In a press release announcing the measure, the Trump administration wrote that the new rule “eliminates the excessive burden put on local communities and gets rid of the top-down approach that dictated…

Authentic Brands Group CEO Jamie Salter and Simon Property Group CEO David Simon with Brooks Brothers (Getty) A familiar team is vying for the bankrupt men’s clothier Brooks Brothers Group. An entity backed by Authentic Brands Group and Simon Property Group submitted a $305 million bid as part of a court-supervised auction for the troubled…

(iStock) The latest earnings reports are approaching for major real estate services firms like CBRE, JLL and Cushman & Wakefield, but there likely won’t be much in the way of optimism in the industry. The U.S. economy bore the brunt of the coronavirus pandemic in the second quarter, and some analysts expect those April through…

Bank OZK’s George Gleason Bank OZK, one of the nation’s largest construction originators, is eyeing lending opportunities in the multifamily sector despite the coronavirus-fueled volatility. Those opportunities just aren’t in New York City. At the bank’s second-quarter earnings call Friday, chief operating officer Brannon Hamblen — president of its real estate specialties group — said…

A July survey of Community Housing Improvement Program found that rent collections improved in NYC (iStock) The owners of 400,000 New York City rent-stabilized apartments reported that rent collection improved markedly in early July, while a national survey found collection in market-rate apartments slipped. Their trade group Community Housing Improvement Program reported that 17.7 percent…

The site for the planned 85-unit apartment complex (Credit: Google Maps) Canfield Development wants to build an 85-unit apartment building on Santa Monica Boulevard in East Hollywood. The eight-story complex would rise at 4750 W. Santa Monica Boulevard at the corner of N. New Hampshire Avenue, according to Urbanize. The complex would replace a single-family…

There were fewer deals across Southern California in June than any other year The Southern California housing market rebounded in June from an abysmal spring, but it’s still far behind last year’s numbers. There were 44 percent more home sales across the region in June than in May, according to data firm DQNews, as cited…

When first looking to raise funds for their construction-tech startup in 2017, Ben Huh and Michael Yarne steered clear of investors from the industry they were hoping to shake up. Instead, the founders of Social Construct went the traditional venture route, believing that outsider money would let them be bolder. “They [venture capitalists] don’t get…