Real Estate Journal: Your Essential Daily Commercial Real Estate Briefing: July 26, 2024
Daniel Bagdazian
Commercial Leasing & Sales Specialist @ Radius Group | Ventura County, CA.
Good Morning!
Here's your daily briefing on the latest in commercial real estate.
🏢 Commercial Real Estate News
Ballast, Goldman Relinquish 1,211 San Francisco Apartments Ballast Investments and Goldman Sachs have officially surrendered 82 apartment buildings to their lender after the properties hit financial trouble.
One Of The Biggest U.S. Developers Is Done With The West Coast Wood Partners is shuttering its West Coast operations after it finishes up the projects already underway. The Atlanta-based firm is the fourth-largest apartment developer in the country, with more than 5,000 units started last year, according to the National Multifamily Housing Council.
Fund to End Homelessness Raises $135M to Buy Apartments Homelessness has been a mounting issue in the U.S. – but nonprofit Community Solutions with help from social impact investment firm, BDP Impact Real Estate, is trying to combat the issue.
Multifamily Rent Rebound Continues in Los Angeles Apartment rents in greater Los Angeles are continuing to rebound, with the average monthly effective rent hitting $2,220 in the second quarter.
Industrial Construction Starts Fall In First Half of 2024 The U.S. industrial development pipeline has slowed in recent quarters, following two years of record deliveries, and is likely to continue to shrink in coming years, CommercialEdge said in its July 2024 National Industrial Market Report.
These Retailers Saw a Surge in Traffic in Q2 Major retailers, led by major discount retail brands, have witnessed a surge in foot traffic in the second quarter.
Goldman Sachs JV Lands $85M Refi for Queens Industrial Asset Terminal Logistics Center is the first multi-story air cargo warehouse facility on the East Coast.
Lincoln Property Inks 134 KSF Renewal in San Diego Cushman & Wakefield brokered the full-building deal for the landlord.
Newsom Orders California Agencies to Remove Homeless Encampments California Gov. Gavin Newsom issued an executive order Thursday directing state agencies to remove homeless encampments.
Neutraderm Buys San Fernando Valley Facility for $21M If there’s one thing Southern California needs, it’s more skin care products — and cosmetics manufacturer Neutraderm is rushing to fill the demand.
📈 Market News
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💡 Industry Insights
Electric Car Charger Installation Cost: Planning And Implementation Guide For Property Managers Installing electric car chargers is a big step for any property manager. It’s not just about offering a new amenity; it’s about adapting to the future of transportation. This blog will guide you through the costs, planning, and benefits of adding EV charging stations to your properties.
Loan Sizing Calculator: How Lenders Determine Your Commercial Real Estate Loan Lenders meticulously assess risk to determine how much financing makes sense for a property venture. Getting the loan amount right matters – overextend, and the deal can crumble. Undersize and you may leave opportunities on the table.
How AI is Revolutionizing Property Management: Opportunities and Challenges Property management is a time-consuming job that requires a great deal of attention to detail. One of the most significant benefits of AI in property management is its ability to automate routine tasks. For example, AI-powered property management software can automate rent collection and reminders, saving property managers significant time and resources.
Structures can be both earthquake-resilient and sustainable Several studies show that constructing safe structures in earthquake-prone regions can be accomplished using sustainable materials that range from mass timber to recycled tires.
Deceleration in Economy Hotel Demand Is Slowing As Consumers Feel Pinched, Weekend Demand Registers Largest Shortfall.
📊 Market Data
Today's Highlights
🚀 Investment Opportunities
🗓️ Upcoming Events
July 31, 2024 | ACRE Shaker in Pasadena Join ACRE SoCal in Pasadena, at the poolside party of the summer!
💬 Quote of the Day
"It’s tangible, it’s solid, it’s beautiful. It’s artistic, from my standpoint, and I just love real estate." - Donald Trump