Real Estate Industry News
Real Estate Industry News
Health insurance company makes affordable housing, the Vatican has some property purchasing problems, and more
Top of the news:
The Happiest Place on Earth is set to get a little happier as Disney plans on moving 2,000 workers from California to Florida and have them work on their new campus.
New legislation would require brokers, listing agents, and realtors to notify the city of New York a month ahead of listing a vacant property for sale, as to allow the city government a chance to purchase the buildings and repurpose them, Commercial Observer writes.
New analysis from S&P Global Intelligence predicts that the Surfside condo collapse could shift how expertsestimate a building’s risk and conduct risk assessments, such as by adding insurers to condo board of directors groups or taking structural weaknesses into consideration when studying a building’s vulnerability, Globe St. reports.
Health insurance company Anthem, Inc., is putting roughly $87 million into affordable housing in Indiana, signaling a change in how healthcare providers recognize the influence of external factors such as housing on their members’ health, and embracing an all-encompassing approach to catering towards them, Fierce Healthcare writes.
Commercial real estate services firm CBRE, Inc., will pay about $1.3 billion to own a 60% stake in infrastructure, real estate, and natural resources construction firm Turner & Townsend Holdings Ltd., The Wall Street Journal reports. The buildings that CBRE, Inc. owns and leases prioritize reducing carbon emissions, so having a stake in Turner & Townsend Holdings Ltd., one of the biggest developers globally, is expected to take CBRE, Inc.’s efforts – and future investments – global.
Well-meaning carbon emissions caps penalize businesses that use high amounts of energy, such as grocery stores, Propmodo writes.
In order to one-up the competition and woo renters, luxury apartment rentals are attempting to provide some of the most extravagant perks, ranging from coworking areas to bowling alleys to meditation rooms, The Washingtonian reports.
Commercial real estate sales are returning to pre-pandemic levels, even if the market looks a lot different than before, Business Report writes. For example, properties in large cities such as New York have become less popular as ones in Sunbelt areas have become more popular.
Real estate fund manager Moorfield Group has backed proptech firm Pi Labs, allowing them to continue testing and funding proptech projects which Moorfield Group can enjoy early access to as investors, IPE Real Assets writes.
The future of a $30 million, three bedroom condo in New York is in jeopardy as courts try to identify who owns it, and owes the $13.75 million mortgage that was allegedly put into default earlier this year – more complicated than it seems, because the guarantor for the loan, Weihong Duan, is currently under custody of the Chinese government for a separate case, The Real Deal reports.
Here are some tips on how to deal with burnout.