By Anna Bahney, CNN Published January 13, 2024 Washington, DC — There’s a dream solution to America’s housing crisis and to its increasingly deserted downtowns: Convert the empty offices into homes. Across the country, cities like New York, Boston and Cleveland are embracing the idea of residential retrofitting and providing incentives to do so. The Biden administration is easing the… Continue reading Can we turn all those empty office buildings into housing?
By James Nani, Reporter Coworking giant WeWork is flirting with bankruptcy, raising the prospect that its hundreds of landlords around the world could be forced to give it lease concessions. With some $2.2 billion in rent obligations due next year, WeWork Cos. Inc.’s ability to recast or cancel its leases will be central to its survival.… Continue reading WeWork Holds Leverage Over Landlords in Threatened Bankruptcy
By Shannon Thaler | June 23, 2023 12:43pm Inflation in the new era of remote work is creating a global commercial real estate “apocalypse” where zombie properties sit vacant and owners with loans coming due hand their keys back to lenders, according to experts. “The apocalypse that’s facing commercial real estate at this moment is all about… Continue reading ‘Zombie’ buildings abandoned during commercial real estate ‘apocalypse’
From San Francisco to Hong Kong, higher interest rates and falling property values are bringing the commercial real estate market to a perilous precipice. By Natalie Wong, John Gittelsohn, Jack Sidders and Shawna Kwan 23 June 2023 at 00:01 GMT-4 … Major institutional owners including Blackstone, Brookfield and Pimco have already chosen to stop payments on some… Continue reading The World’s Empty Office Buildings Have Become a Debt Time Bomb
By Harold Bordwin May 29, 2023 10:00 AM Many commercial real estate owners are facing a severe market downturn characterized by a significant decline in property values and investment returns. The Vanguard Real Estate Index Fund, which focuses on investing in REITs that purchase office buildings, hotels and other properties, has plummeted recently. The Green Street Commercial… Continue reading Questions CRE Owners — Especially Office Owners — Have to Ask Themselves
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