Discover the most-read commercial real estate news coverage from October. From retail redevelopment to hotel competition with Airbnb, stay informed on the latest industry happenings.
While reciprocal easement agreements once ensured that mall owners would have to get permission from their largest tenants prior to moving forward with redevelopment, they can more easily move forward with these projects in the hopes of attracting more shoppers.
Some large hotel chains have been responding to the resurgence of business travel by increasing their extended stay offerings in competition with companies like Airbnb and Vrbo.
Some CRE owners are looking to put their assets on the markets, however, economic uncertainty has caused slowdowns in deal-making.
Investors have been buying homes to transform into single-family rentals. However, due to the housing shortage, many have been exploring build-to-rent as an option.
October 2, 2023 Supreme Court Declines To Hear Rent Control Case
While both the Community Housing Improvement Program and the Rent Stabilization Association made moves to confront the current state of rent control, and specifically the New York Housing Stability and Tenant Protection Act of 2019, the Supreme Court will not be hearing the case.
A RealPage report found that apartment construction has been on the rise, having increased to its highest point since the ‘80s in Q3 2023.
October 13, 2023 Fannie Mae Launches New Workforce Housing Program
Fannie Mae’s Sponsor-Dedicated Workforce product has been created with the purpose of constructing and preserving workforce housing.
Nine CRE brokers in their 20s and 30s who are either new to CRE or have some experience indicated that despite the challenges that come with a downturn, they saw opportunities to sharpen their skills and create connections in the industry.
Colleges and universities have been acquiring and adding empty office buildings and making upgrades as part of their campuses.
As a result of high interest rates, CRE owners are contending with challenges such as loans reaching their maturity and rate swaps and caps reaching an expiration date.