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Most Read CRE News In November

Diving into the turbulent waves of November's real estate landscape, our spotlight reveals the seismic shifts and challenges across diverse sectors, from the 'Godfather' of life sciences grappling with a sharp downturn to multifamily investors seeking 'generational opportunities.'


Life Sciences


Alexandria Real Estate Equities is “the largest player” in the life sciences sector with a $37B valuation. 2023 saw a substantial decline in the sector, with the company’s stock also taking a hit.


Industrial


In 2023, the industrial market has been easing from its high points in 2021 and 2022.


Office


Kastle had found that office occupancy had reached 50.5% within 10 cities, with Chicago, San Francisco and New York experiencing the highest percentage increases.


Multifamily


Owners of rent-stabilized multifamily assets based in New York City have been contending with challenges related to rising costs and an increase of delinquency rates for loans tied to these assets.



Increased interest rates have caused distress within CRE. As a result, multifamily investors have been eyeing distressed properties, with some looking to make a purchase upon foreclosure.



Origin Investments is predicting that rents for Class A multifamily may fall in 2024 and will see improvement in 2025.


Capital Markets


Urban Land Institute and PricewaterhouseCoopers published a report called Emerging Trends in Real Estate 2024. 10 takeaways were covered within the report and includes responses from Anita Kramer, senior vice president of the ULI Center for Real Estate Economics and Capital Markets.



While JLL CEO Christian Ulbrich had predicted that the state of the real estate market would begin to improve within H2 2023, it is now estimated to be pushed to H2 2024.



According to Commercial Observer, Fannie Mae stated that mortgage lenders with loans that involved brokers have to undergo a pre-review process. However, loans with rates that were locked in before Tuesday, Nov. 7 were not subject to pre-review.



The Wall Street Journal found that through October, approximately 62 foreclosure notices have been doled out to loans with increased risk as well as mezzanine loans.

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