From left: Colony Capital’s Tom Barrack, 8250 Milliken Avenue and Lincoln Property Co.’s David Binswanger (Credit: Getty Images, Google Maps) Colony Capital has sold a massive four-property industrial portfolio in the Inland Empire, the latest indication it is looking to sell its entire industrial holdings. Colony sold a 745,580-square-foot portfolio in Rancho Cucamonga to Lincoln […]
Banks see uptick in mortgages, but remain wary ahead of potential Fed interest rate cut
Wells Fargo, JPMorgan Chase and Citigroup each recorded a rise in second quarter profits in their consumer divisions (Credit: iStock) Spurred by low interest rates, consumers are taking out more mortgages, bolstering the profits of banks’ consumer divisions. But forecasted cuts by the Federal Reserve have Wall Street trading down. Wells Fargo, JPMorgan Chase and […]
Onni inks lease with WeWork after closing on massive Wilshire Courtyard purchase
WeWork’s Adam Neumann and Onni Group President Rossano de Cotiis with a rendering of Wilshire Courtyard (Credit: Getty Images and Michael Maltzan Architecture) Onni Group closed on the 1 million-square-foot Wilshire Courtyard complex, and has chosen a high-profile first tenant. The company signed co-working giant WeWork to four floors at 5750 Wilshire Boulevard, one of […]
Realogy’s explosive suit against Compass may be “seriously misguided:” antitrust expert
Compass CEO Robert Reffkin and Realogy CEO Ryan Schneider Compass is no newcomer to courtroom drama. Since 2014, the SoftBank-backed brokerage has been slapped by 10 separate lawsuits accusing the company of engaging in aggressive tactics to expand in new markets that range from outright law-breaking to unethical behavior. In the explosive lawsuit filed last […]
King of the hill: Manhattan tops list of priciest place to rent in US
New York City apartment building (Credit: iStock) Here’s a case for New York state’s recently-passed and highly controversial sweeping rent reform law: A new report shows that Manhattanites pay the highest prices for monthly rent in the U.S. The average monthly rent of a Manhattan apartment totaled $4,190 in June, nearly $500 more than the […]
Developer startup favorite Honest Buildings acquired by software company Procore
Honest Buildings CEO Riggs Kubiak and Procore CEO Tooey Courtemanche (Credit: Techstars and Procore) UPDATED, July 16, 1:50 p.m.: Construction management software company Procore has acquired Honest Buildings, a startup favored among institutional developers, the companies said Tuesday. The acquisition signals confidence in the growing construction tech sector, where major real estate players are putting […]