Common Expands Its Residential Platform With $50M Capital Raise

The company will use the funds to expand its residential management platform and take a tech-driven operational approach.

       

source https://feeds.feedblitz.com/~/635915980/0/globest/new-york~Common-Expands-Its-Residential-Platform-With-M-Capital-Raise/

Blackstone Selects JLL to Lease NJ Industrial Project

The 215,221-square-foot project is being developed by Blackstone Real Estate’s US-based industrial real estate operating portfolio company, Link Logistics, and the Hampshire Real Estate Cos.

       

source https://feeds.feedblitz.com/~/635898938/0/globest/new-york~Blackstone-Selects-JLL-to-Lease-NJ-Industrial-Project/

NYC Law Providing Relief for Commercial Tenants Faces Constitutional Scrutiny

New York City Mayor Bill de Blasio delivered another striking blow to property owners when he signed into law N.Y.C. Council Int. No. 1932-A (2020) on May 26, 2020. The new legislation prohibits landlords from enforcing personal guaranties on certain commercial leases for defaults occurring between March 7, 2020 and Sept. 30, 2020.

       

source https://feeds.feedblitz.com/~/635875884/0/globest/new-york~NYC-Law-Providing-Relief-for-Commercial-Tenants-Faces-Constitutional-Scrutiny/

Remote Work's Appeal Shows Signs of Fading

A study from workplace strategy consulting firm Vocon found that work-from-home fatigue is increasing and productivity is decreasing.

       

source https://feeds.feedblitz.com/~/635839968/0/globest/new-york~Remote-Works-Appeal-Shows-Signs-of-Fading/

JLL Veteran Rejoins Savills

Jason Schwartzenberg has been appointed as executive managing director, following a six-year tenure at JLL, after a 12-year tenure at Savills.

       

source https://feeds.feedblitz.com/~/635839488/0/globest/new-york~JLL-Veteran-Rejoins-Savills/

JV Secures $148M in Financing for NJ Office Portfolio

Ares Management Corp. provided the three-year, acquisition loan for the 10-property portfolio, sold by Mack-Cali.

       

source https://feeds.feedblitz.com/~/635821986/0/globest/new-york~JV-Secures-M-in-Financing-for-NJ-Office-Portfolio/

Vast Majority of NYC Restaurants, Bars Did Not Pay Rent in August

A survey found that 87% could not pay full rent for the month, and 34% were unable to pay any rent at all.

       

source https://feeds.feedblitz.com/~/635803422/0/globest/new-york~Vast-Majority-of-NYC-Restaurants-Bars-Did-Not-Pay-Rent-in-August/

Lenders Appetite for Commercial Property Debt Dwindles

While there is ample cash equity seeking deals, lenders are concerned about the viability of the commercial property market.

       

source https://feeds.feedblitz.com/~/635800420/0/globest/new-york~Lenders-Appetite-for-Commercial-Property-Debt-Dwindles/