DIRS.INFO The most relevant business & tech news

☆ 12 of the most awkward moments in Met Gala history
▼ + stars: | 2024-05-02 | by ( Elana Klein | Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

On Monday, May 6, some of the world's biggest stars will gather in New York City for the Met Gala. Unfortunately, the event's glamour and prestige don't make it immune to awkward moments and mishaps. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe first Monday in May, otherwise known as the Met Gala, is quickly approaching. From questionable interview exchanges to photobombs and public displays of affection, here are 12 of the most awkward moments in Met Gala history.

Persons: —, Emma Chamberlain Organizations: Service, Metropolitan Museum, Art's, Technology Locations: New York City

☆ The Met Gala theme is ‘The Garden of Time:’ Why culture is obsessed with JG Ballard
▼ + stars: | 2024-05-02 | by ( Leah Dolan | ) edition.cnn.com time to read: +9 min

In February, the Met revealed Ballard’s 1962 short story “The Garden of Time” as the forthcoming red carpet theme. Victor Virgile/Gamma-Rapho/Getty ImagesThere is little glitz and glamor in Ballard’s world — or if there is, it doesn’t last for long. David Cronenberg's adaptation of JG Ballard's "Crash" debuted at Cannes Film Festival in 1996. In 2021, American designer Thom Browne’s Spring-Summer catwalk at New York Fashion Week also imagined life behind Count Axel’s garden wall. And now with the Met Gala theme, the beautiful flower that dies as soon as it’s plucked, it connects back to fashion being ephemeral.

Persons: Manus, Andrew Bolton, JG Ballard, Count Axel, Axel, Count, Countess, Thom Browne, Victor Virgile, —, you’ve, Steven Spielberg’s, David Cronenberg’s, ”, it’s, Ballard, David Cronenberg's, Ronald Siemoneit, Thom Browne’s, Browne, Alon Livné, Andrew Groves, Estrella de Mar, ” Groves, McQueen, Jeremy Scott, Marie, Christiane Marek, Jeremy Scott's, Jeremy Scott “, ” Scott, Scott, “, Nigel Coates, Caffè, Coates, Caffè Bongo, brandished Coates, Caffe, Edward Valentine, Charli XCX, Madonna’s, Ian Curtis, Stanley Donwood, Groves Organizations: CNN, York’s Metropolitan Museum of Art, West, Technology, Costume Institute, Bolton, New York, Sun, Cannes Film, Estrella de, Paris Fashion, Division, Preachers, Fourth Estate Locations: China, British, France, American, Israeli, London, Estrella, Tokyo, “

☆ ‘Heart-breaking’: Refugees once detained offshore by Australia warn the UK government not to push through its Rwanda policy
▼ + stars: | 2024-04-22 | by ( Antoinette Radford | ) edition.cnn.com time to read: +11 min

The policy enjoys bipartisan political support in Australia, with both the coalition and Labor governments backing offshore detention. And on face value, the UK’s proposed offshore detention policy follows a similar model to that of Australia. Australia’s own offshore detention policy has been heavily criticized and fraught with controversy – but still seems to exert considerable appeal for some UK politicians. Another difference between two nations stems from the fact Australia does not have a human rights charter, Tubakovic said. She notes that the UK is still bound by human rights obligations, particularly as a signatory to the European Convention on Human Rights.

Persons: CNN — “, Behrouz Boochani, “, ”, Boochani, Mostafa Azimitabar –, –, ” Azimitabar, Rwanda Bill, Dan Kitwood, Rishi Sunak, Tony Abbott, Jonas Gratzer, Alexander Downer, Downer, Tamara Tubakovic, “ It’s, Tubakovic, David Gray, ” Tubakovic Organizations: CNN, Kurd, European, of Human, Australia’s Department of Home Affairs, Labor, Refugee Council of Australia, ‘, Conservative, English Channel, UK Border Force, University of Melbourne, University of Oxford, Human Rights, of Human Rights, UN, Reuters Locations: New Zealand, Papua New Guinea, Iran, Indonesia, Australia, Nauru, Manus, Melbourne, United Kingdom, Rwanda, England, Britain, British, France, Sydney

☆ Analysis: Taylor Swift would win any popularity contest against MAGA
▼ + stars: | 2024-02-18 | by ( Harry Enten | ) edition.cnn.com time to read: +12 min

Taylor Swift performs at the Staples Center in Los Angeles in 2015. From Taylor Swift On her birthday in 2019, Swift shared this photo of herself as a child. From Taylor Swift A 13-year-old Swift sings the National Anthem before an NBA game in Philadelphia in 2002. John Mabangalo/Pool/Getty Images Swift performs during a sold-out show at New York's Madison Square Garden in 2009. Ethan Miller/Getty Images Swift performs onstage at the Staples Center in Los Angeles during her 1989 tour in 2015.

Persons: CNN — It’s, Donald Trump, Taylor Swift, Joe Biden’s, Swift, she’s, Trump, Oprah Winfrey, Michael Smerconish, Winfrey, Barack Obama, Obama, Hillary Clinton, Christopher Polk, Scott, Andrea Swift, Jesse D, Tim McGraw, Kevin Winter, John Mabangalo, Chad Batka, Bryan Bedder, Larry Busacca, Miley Cyrus, Lucas Till, Hannah Montana, Sam Emerson, Everett, Jonas, Frank Masi, Taylor, I'm, West, Beyonce, Jeff Kravitz, Lucy Nicholson, Christopher Morris, Josh Haner, Kevin Mazur, James Taylor, Charles Sykes, Matt Sayles, Mark J, Terrill, Invision, Jimmy Fallon, Douglas Gorenstein, Nicholas Harvey, Kanye West, Kim Kardashian, Laraine Newman, Bill Hader, Taran Killam, Kristen Wiig, Keenan Thompson, Fred Armisen, Kerry Washington, Betty White, Bradley Cooper, Dana Edelson, Andrea, Ethan Miller, Tim Boyles, Selena Gomez, Jordan Strauss, Mike Coppola, John Shearer, Andrew Lloyd Webber, Brandon Urie, Katy Perry, Republic Records Jack Antonoff, Aaron Dessner, Will Heath, Seth Wenig, Terence Rushin, Travis Kelce, Patrick Smith, propping, It’s, birther, There’s Organizations: CNN, Monmouth University, Marist College, Trump, Democratic, Biden, Staples Center, NBA, of Country, Garden, New York Times, New York's Rockefeller Center, Walt Disney Co, Kanye, Madison, MTV, NBC, ACM, Academy of Country, Getty, New York's Metropolitan Museum of Art, Universal Pictures, Coachella, Republic Records, New York University, Kansas City Chiefs, Chiefs, AFC, Super, Swift, Republicans, NFL, Republican Locations: America, Monmouth, Los Angeles, West Reading , Pennsylvania, Philadelphia, Las Vegas, New York, Auburn Hills , Michigan, Newark , New Jersey, Pennsylvania, Frankfurt, Germany, London, Arlington , Texas, Tampa, Chicago, Atlanta, United States, Hawaii

“What we’ve seen with the Taylor Swift tour is something that we’ve not really seen before,” said Richard Clarke, an analyst at investment firm Bernstein. Taylor Swift performs at the Staples Center in Los Angeles in 2015. From Taylor Swift On her birthday in 2019, Swift shared this photo of herself as a child. From Taylor Swift A 13-year-old Swift sings the National Anthem before an NBA game in Philadelphia in 2002. John Mabangalo/Pool/Getty Images Swift performs during a sold-out show at New York's Madison Square Garden in 2009.

Persons: Tokyo CNN —, Taylor, Travis Kelce, Taylor Swift, we’ve, ”, Richard Clarke, Bernstein, “ It’s, TikTok she’d, curating, Kane Ishiyone, Swift, –, Ishiyone, Richard A, Brooks, Clarke, “, that’s, Christopher Polk, Scott, Andrea Swift, Jesse D, Tim McGraw, Kevin Winter, John Mabangalo, Chad Batka, Bryan Bedder, Larry Busacca, Miley Cyrus, Lucas Till, Hannah Montana, Sam Emerson, Everett, Jonas, Frank Masi, I'm, West, Beyoncé, Jeff Kravitz, Lucy Nicholson, Christopher Morris, Josh Haner, Kevin Mazur, James Taylor, Charles Sykes, Matt Sayles, Mark J, Terrill, Invision, Jimmy Fallon, Douglas Gorenstein, Nicholas Harvey, Kanye West, Kim Kardashian, Laraine Newman, Bill Hader, Taran Killam, Kristen Wiig, Keenan Thompson, Fred Armisen, Kerry Washington, Betty White, Bradley Cooper, Dana Edelson, Andrea, Ethan Miller, Tim Boyles, Selena Gomez, Jordan Strauss, Mike Coppola, John Shearer, Andrew Lloyd Webber, Brandon Urie, Katy Perry, Republic Records Jack Antonoff, Aaron Dessner, Will Heath, Seth Wenig, Terence Rushin, David Eulitt, Mitsumasa Etou, Akazawa, haven’t, It’s, Michele Bullock Organizations: Tokyo CNN, People, Kansas City Chiefs, Taylor, Getty, Super Bowl, Chicago Bears, dateline, Vegas, Staples Center, NBA, of Country, Garden, New York Times, New York's Rockefeller Center, Walt Disney Co, Kanye, Madison, MTV, NBC, ACM, Academy of Country, New York's Metropolitan Museum of Art, Universal Pictures, Coachella, Republic Records, New York University, Arrowhead, Chiefs, NET, Tokyo City University, Fuji, Tokyo, Reserve Bank of Australia, Reuters Locations: Tokyo, Las Vegas, Philippines, Fukuoka, Japan, Germany, Austria, Netherlands, Shibuya, AFP, Asia, Washington, Las Vagas, Los Angeles, West Reading , Pennsylvania, Philadelphia, New York, Auburn Hills , Michigan, Newark , New Jersey, Pennsylvania, Frankfurt, London, Arlington , Texas, Tampa, Chicago, Atlanta, Kansas City , Missouri, Asia Pacific, Singapore, Australia, East Coast

☆ Arts Executive to Lead Pioneer Works
▼ + stars: | 2023-09-12 | by ( Melena Ryzik | More About Melena Ryzik | ) www.nytimes.com time to read: +1 min

Mara Manus, a former executive director for the New York State Council on the Arts, will become the chief executive officer at Pioneer Works, the nonprofit cultural center in Brooklyn, its board of directors announced on Tuesday. Manus, who will start in October, replaces the executive director Maxine Dalio, who left at the end of last year, and the interim chief Jill Eisenhard. She will work closely with the artist Dustin Yellin, the founder of Pioneer Works; Gabriel Florenz, its founding artistic director; and the astrophysicist Dr. Janna Levin, the chief science officer. The appointment marks a pivotal moment for Pioneer Works, which is housed in a former iron works factory in the Red Hook section of Brooklyn. Lately its ambition has grown; in a major capital project, it now plans to open a publicly accessible roof deck observatory — a rarity in New York City.

Persons: Mara Manus, Maxine Dalio, Jill Eisenhard, Dustin Yellin, Gabriel Florenz, Janna Levin Organizations: New York State Council, Arts, Pioneer Works Locations: Brooklyn, Manus, New York City

☆ Are office buildings the next 'Big Short' or the next widow-maker trade? The trader behind the ubersuccessful mall short shares his playbook for making money without flaming out.
▼ + stars: | 2023-08-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +16 min

Dan McNamara's Polpo Capital is shorting office real estate, a risky move that could be lucrative. If you're looking for a doomsday vision of commercial real estate, you can find it there. "I don't think this is the 'Big Short,'" McNamara told me. This doesn't mean he doesn't have a game plan to make money off cultural shifts that could forever change the state of commercial real estate. Lucas Jackson/ReutersWhere he's going longOne risk of shorting real estate is that it's more susceptible to what's known in real-estate circles as "extend and pretend."

Persons: Dan McNamara's, McNamara, it's, It's, shorting, Carl Icahn, Jim Chanos, Brendan McDermid, Dan McNamara, McNamara's, Braver Stern, Dan McNamara McNamara's, suede loafers, McNamara didn't, Josh Nester, Polpo, he's, Morgan Stanley, Kamil Sadik, Lucas Jackson, Manus Clancy, You've, David Tepper's, Trepp's Clancy, Clancy, David Tepper Organizations: Central Park, New, Polpo, New York University, Columbia, Kynikos Associates, Enron, Asset Management, Reuters, UBS, Co, Societe Generale, Securitized Credit Partners, Credit Suisse, MP, Fund, Bloomberg, of America, Simon Property, Federal Locations: Manhattan, Sixth, Central, New York City, New York, MatlinPatterson, America, China, Italy, Westchester , New York, Tribeca, York, Westchester, Waterford , Connecticut, Baltimore, San Francisco

DCG and Silbert, who is also a defendant, called Gemini a "sophisticated market participant" that had told Gemini Earn customers, who were expecting high interest rates, that it had "thoroughly vetted" Genesis. Gemini said the defendants did this so that Gemini Earn customers would continue lending crypto assets to Genesis, believing it was "business as usual." Gemini and Genesis are defendants in a U.S. Securities and Exchange Commission civil lawsuit claiming they bypassed disclosure requirements meant to protect investors in connection with Gemini Earn. According to the SEC and the Winklevosses, Genesis held about $900 million of assets from approximately 340,000 Gemini Earn customers before halting withdrawals last November. The case is Gemini Trust Co v Digital Currency Group LLC et al, U.S. District Court, Southern District of New York, No.

Persons: Entrepeneurs Tyler, Cameron Winklevoss, Manus, Lucas Jackson, Tyler, Barry Silbert, Gemini, Silbert, DCG, Genesis, Sam Bankman, Fried, Jonathan Stempel, Leslie Adler Organizations: Metropolitan Museum of Art, REUTERS, Group, Gemini Trust, Genesis Global, Gemini, Three Arrows Capital, U.S . Securities, Exchange Commission, SEC, Forbes, Currency, Court, Southern District of, Thomson Locations: Manhattan, New York, DCG, U.S, Southern District, Southern District of New York

The Tomohon Extreme Market was once a top tourist attraction in the Indonesian province of North Sulawesi — a live animal market filled with everything from fileted pythons to skewered bats and rats. Activists urged major travel companies to stop recommending the market as a tourism site, said Lola Webber, Humane Society International's director of campaigns. "Bali dealt with this issue by poisoning stray dogs, which ended up being just as bad, if not worse, than those that have been subjected to the dog meat trade." In a Tripadvisor post on March 5, a user discusses reading about Sulawesi's dog meat trade. The post states: "Well the next trip was going to be to Sulawesi, Indonesia ...

Persons: Lola Webber, —, you'll, Webber, Caroll Senduk, International's Lola Webber, Michael, Frank Delano Manus, We've, who've, Manus, Rahul Sehgal, Tripadvisor Organizations: Humane Society, Companies, Tripadvisor, Free, Friends, CNBC Travel, World Health Organization, Animal Welfare, Animal Friends, Humane Society International, Free Indonesia, CNBC, Soi Dog Locations: Indonesian, North Sulawesi, Sulawesi, Tomohon's, Free Indonesia, Indonesia, Bali, Karanganyar, Java, Medan, Jakarta, Asia, Singapore, Philippines, Thailand, Hong Kong, Taiwan, China, South Korea, Vietnam

☆ The price of a typical starter home fell in San Francisco, Austin, and Phoenix, bucking a national trend — here's why
▼ + stars: | 2023-08-03 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

The cost of starter homes has grown in every US metro but three since last year, Redfin said. San Francisco, Austin, and Phoenix starter home prices declined by 13.3%, 12.2%, and 9.7%, respectively. That doesn't mean that these starter homes are cheap, or the incomes needed to afford them are minuscule. Similar to Austin and San Francisco, Bokhari chops it up to the ebb and flow of supply and demand. While starter home prices decreased in San Francisco, Austin, and Phoenix, Redfin found that the typical starter home sold for a record $243,000 in June.

Persons: Redfin, they're, Sheharyar, Bokhari, Manus Clancy, Austin, Tesla Organizations: Phoenix, Service, Apple, Google, Oracle Locations: San Francisco, Austin, Wall, Silicon, Phoenix, Francisco, homebuyers, Redfin

☆ Avi Loeb’s Deep Dive for Alien Life Is Making Other Scientists Gasp
▼ + stars: | 2023-07-24 | by ( Katrina Miller | More About Katrina Miller | ) www.nytimes.com time to read: +1 min

Its location, velocity and brightness were recorded by U.S. government sensors and quietly tucked away in a database of similar events. Based on its logged speed and direction, Mr. Siraj identified the fireball as an extreme outlier. Last month, Dr. Loeb led an expedition to retrieve fragments of the fireball off the western Pacific seafloor. And that, he says to the chagrin of many of his colleagues, may be evidence of extraterrestrial life. “Not biological creatures, the way you see in science fiction movies,” Dr. Loeb said.

Persons: Avi Loeb, Amir Siraj, Siraj, Loeb, ” Dr, “, ” Organizations: U.S, Harvard University Locations: Manus Island, Papua New Guinea

☆ Taylor Swift changes controversial lyrics for ‘Better Than Revenge’
▼ + stars: | 2023-07-07 | by ( Lisa Respers France | ) edition.cnn.com time to read: +8 min

From Taylor Swift On her birthday in 2019, Swift shared this photo of herself as a child. From Taylor Swift A 13-year-old Swift sings the National Anthem before an NBA game in Philadelphia in 2002. Kevin Winter/ACMA/Getty Images Swift sings the National Anthem before Game 3 of the 2008 World Series in Philadelphia. John Mabangalo/Pool/Getty Images Swift performs during a sold-out show at New York's Madison Square Garden in 2009. Jeff Kravitz/Getty Images Swift performs on stage during an "Eras Tour" concert in Atlanta in April 2023.

Persons: CNN — Taylor Swift, ” Swift, “, Swift, ” Taylor, shaming, ” Taylor Swift, Christopher Polk, Scott, Andrea Swift, Taylor Swift, Jesse D, Tim McGraw, Kevin Winter, John Mabangalo, Chad Batka, Bryan Bedder, Larry Busacca, Miley Cyrus, Lucas Till, Hannah Montana, Sam Emerson, Everett, Jonas, Frank Masi, Taylor, I'm, West, Beyonce, Jeff Kravitz, Lucy Nicholson, Christopher Morris, Josh Haner, Kevin Mazur, James Taylor, Charles Sykes, Matt Sayles, Mark J, Terrill, Invision, Jimmy Fallon, Douglas Gorenstein, Nicholas Harvey, Kanye West, Kim Kardashian, Laraine Newman, Bill Hader, Taran Killam, Kristen Wiig, Keenan Thompson, Fred Armisen, Kerry Washington, Betty White, Bradley Cooper, Dana Edelson, Andrea, Ethan Miller, Tim Boyles, Selena Gomez, Jordan Strauss, Mike Coppola, John Shearer, Andrew Lloyd Webber, Brandon Urie, Katy Perry, Republic Records Jack Antonoff, Aaron Dessner, Will Heath, Seth Wenig, Terence Rushin, didn’t, It’s, –, Scooter Braun, Braun Organizations: CNN, Staples Center, NBA, of Country, Garden, New York Times, New York's Rockefeller Center, Walt Disney Co, Kanye, Madison, MTV, NBC, ACM, Academy of Country, Getty, New York's Metropolitan Museum of Art, Universal Pictures, Coachella, Republic Records, New York University, Machine Locations: Los Angeles, West Reading , Pennsylvania, Philadelphia, Las Vegas, New York, Auburn Hills , Michigan, Newark , New Jersey, Pennsylvania, Frankfurt, Germany, London, Arlington , Texas, Tampa, Chicago, Atlanta

☆ These images aren’t real, but for some refugees they depict a painful truth
▼ + stars: | 2023-06-25 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +14 min

For some, Australia’s approach has been seen as a model, particularly in the United Kingdom, which wants to send some asylum seekers to Rwanda. As AI images, they’re powerful and controversial, not least due to fears they could be mistaken for real images in a world awash with false and misleading information. Amnesty International was recently called out for using AI images in a report to depict protesters in Colombia that critics said undermined its credibility as a news source. The refugee AI images were created partly because no “real” alternative existed – partly due to distance but also restrictions on media access and early bans on mobile phones. But the use of fake images to visualize accounts raises questions about when it’s acceptable to create AI images and how they should be presented.

Persons: Ian Rintoul, ”, I’m, It’s, Saman, “ I’m, Maurice Blackburn, they’d, –, Jennifer Kanis, Maurice Blackburn “, “, we’d, Behrouz Boochani, Kim Wade, Wade, Gavin, Kanis Organizations: Australia CNN, Asylum Seeker Resource, Refugee, Coalition, United Nations, CNN, High, Amnesty, Guardian, University of Warwick, Howatson, Australia’s Home Affairs Department, “, Papua New, Papua New Guinea Government Locations: Brisbane, Australia, Nauru, Manus, Papua New Guinea, United Kingdom, Rwanda, Pakistan, United States, New Zealand, Indonesia, Colombia, Papua

☆ Empty offices, abandoned malls, concerns over crime: Why San Francisco, the Golden City, is losing its luster
▼ + stars: | 2023-06-17 | by ( Al Yoon | ) www.businessinsider.com time to read: +8 min

Days later, Unibail-Rodamco-Westfield and coowner Brookfield gave the San Francisco City Centre back to their lenders after the exit of retailers left the mall just over half occupied. Whatever is going on in San Francisco, we are not interested in being part of that any longer." Fear of crime taints the cityCrime, or the fear of it, often creeps into conversations about San Francisco, too. "I ask, what's the driver" of the San Francisco office vacancies, Scavone told Insider. He continued: "Is it because downtown San Francisco is somewhat of a difficult commute from suburbs in Marin County or the East Bay?"

Persons: Manus Clancy, Trepp, —, Brookfield, Clancy, Salesforce, Jeff Burg, he's, Burg, we're, Thomas Baltimore, hasn't, Elon Musk, Bob Lee, Frank Scavone, Scavone Organizations: Service, San Francisco, California, Hilton San Francisco, Square, Parc, San Francisco City Centre, San, Krea, Union, Census, LinkedIn, Park Hotels, Resorts, Westfield, ABC, San Francisco Travel Association, Elon, Foods, The New York Times, McKinsey & Co, downtown Locations: San Francisco, San, San Francisco Chronicle, Westfield, Real, Francisco, New York, cubicles, Boston , Chicago, Houston, Miami, San Francisco's Hayes Valley, Manhattan, Tenderloin, —, downtown San Francisco, Marin County

☆ Blackstone will help prevent an office market 'catastrophe', says JPMorgan's commercial real estate chief
▼ + stars: | 2023-06-05 | by ( Al Yoon | ) www.businessinsider.com time to read: +4 min

Reports on the death of offices are "just wrong," JPMorgan's commercial real estate chief said. Office buildings are losing value as more people opt to work from home and companies need less space. No 'catastrophe' for the office market"You get the headline written that the office market is a catastrophe," Brooks said during a JPMorgan outlook webinar on June 1. In April, Blackstone announced the final close of its Blackstone Real Estate Partners X, the largest real estate fund ever raised, with $30.4 billion in capital commitments. Through its real estate investment trust, Blackstone has maintained some exposure to office buildings.

Persons: Blackstone, delinquencies, Alfred Brooks, Brooks, JLL, Manus Clancy, JPMorgan —, hasn't, They're Organizations: JPMorgan, Blackstone, Blackstone Real Estate Partners Locations: Brookfield, Blackstone, Los Angeles

☆ JPMorgan's commercial real estate chief lays out how Blackstone will help prevent an office market 'catastrophe'
▼ + stars: | 2023-06-05 | by ( Al Yoon | ) www.businessinsider.com time to read: +4 min

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

☆ Banks aren't the only ones that hold risky commercial-real-estate debt. Pension funds are about to feel the pain, too.
▼ + stars: | 2023-04-24 | by ( Al Yoon | ) www.businessinsider.com time to read: +4 min

Pension funds, REITs, and insurers hold more than $1.2 trillion in commercial-real-estate debt. CalSTRS, a California pension fund, told the FT it will be writing down its real-estate portfolio. Among them are the large pension funds, REITs, and insurance companies, together accounting for more than $1.2 trillion — or 22% — of the $5.62 trillion in total commercial-real-estate debt outstanding, according to BofA Global Research. Some pension funds were already planning to reduce their exposures to commercial real estate even before the recent bank failures magnified the risks. In September, fund managers at Artemis Real Estate Partners and PGIM Real Estate said at a Bisnow conference that their investors indicated they'd be reducing allocations to real estate, just because the assets had been outperforming others.

☆ The fallout from empty offices is coming. Here's where investors could see the pain
▼ + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +12 min

As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.

☆ The growing number of distressed office buildings reflects a recognition by owners and lenders that the robust return to office they had hoped for isn't likely to materialize
▼ + stars: | 2023-02-22 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Office owners like Brookfield, RXR, and Related are in the process of defaulting on office loans. Some of real estate's biggest names have defaulted on their office debt in recent weeks. The delinquency rate for office loans is only 1.83% now, according to Trepp, a firm that researches real-estate debt. Loans come dueOver this year and next year, 24% of commercial real estate loans will be coming due, many of them office loans, per Hendry. Office buildings, from the newest and shiniest Class A towers to the older and less-sexy Class B buildings, were a pretty safe investment, as long as they were in the right locales.

☆ Investors and landlords are watching big expiring leases from Twitter, Morgan Stanley, and 7 other companies to understand just how hard remote work will hit the office sector
▼ + stars: | 2022-09-13 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +2 min

It'll take years to gauge the effect of remote work on major office buildings across the US. Trepp, a company that tracks real-estate debt, has compiled a list of 10 office leases to watch. Deals can take months to complete, while office leases often can run up to 10 years, resulting in typically steady income for property owners through the ebbs and flows of the broader economy. In order to fully understand what's happening, it can be helpful to look at some of the largest leases in major buildings across the country. Landlords usually purchase large office buildings with large loans, so naturally, the income of the property is of great interest to whoever holds the debt.

Search resuls for: "Manus"

21 mentions found