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☆ San Francisco Is Building to Bring Residents Back
▼ + stars: | 2023-12-05 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The exodus of workers and businesses during the pandemic left San Francisco a shell of its former self. But there are small signs of a turnaround. WSJ explores whether new civic policies and fresh commercial interest can rejuvenate the city’s downtown. Photo illustration: Rio Roye/WSJReal-estate developers are launching a series of residential projects in San Francisco, responding to new efforts by the state and city to create more housing in one of the country’s most expensive places to live. In what would be the city’s most ambitious residential development in several years, local property developer Bayhill Ventures last month announced plans for a 71-story rental tower in San Francisco’s ailing financial district.

Persons: Roye Organizations: Bayhill Ventures Locations: San Francisco, San

☆ Think Companies Are Struggling to Fill Offices? Look at the Government
▼ + stars: | 2023-11-28 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The office vacancy rate in Washington, D.C., hit a record 20.3% in the third quarter. Photo: Andrew Harrer/Bloomberg NewsThe Biden administration is telling federal employees to get back in the office on a more regular basis. The White House has been amping up the pressure on federal agencies to increase their return-to-office rate. White House chief of staff Jeff Zients sent an email in August to cabinet agencies instructing them to “aggressively execute” a shift to more in-person work in the fall. But administration officials say their return-to-office goals still haven’t been reached.

Persons: Andrew Harrer, Biden, Jeff Zients, “, haven’t Organizations: Washington , D.C, Bloomberg, White Locations: Washington ,

☆ Office Stocks Post Biggest Rally in Three Years. Their Real-Estate Problems Remain.
▼ + stars: | 2023-11-21 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

Office landlords face hybrid-work patterns that have companies cutting back on their workspace. Photo: Amir Hamja/Bloomberg NewsShares of battered down office landlords had their biggest one-day rally in three years last week, after inflation data came in lower than anticipated and expectations rose that the Federal Reserve was done raising interest rates. Shares of office real-estate investment trusts soared an average of 11.5% on Tuesday, according to real-estate analytics firm Green Street. That is the largest daily increase since November 2020, when an even larger rally was sparked by the announcement of a Covid-19 vaccine.

Persons: Amir Hamja Organizations: Bloomberg, Federal

☆ Signature Bank’s Apartment Loans Selling at a Steep Discount
▼ + stars: | 2023-11-20 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The leading bid shows how much the value of New York’s rent-regulated apartment sector has deteriorated in recent years. Photo: Scott Heins/Getty ImagesA venture of two nonprofits and Related Fund Management is poised to win an auction for billions of dollars of Signature Bank loans backed by New York apartments, according to people familiar with the matter. The venture’s leading bid of less than 70 cents of the loan’s face value shows how much the value of New York’s rent-regulated apartment sector has deteriorated in recent years.

Persons: Scott Heins Organizations: Fund Management, Signature Bank Locations: New York

☆ Hollywood Strike Is Over but Studio-Space Developers Face New Dilemmas
▼ + stars: | 2023-11-14 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The Screen Actors Guild reached a tentative agreement with studios and streamers on Nov. 8 to end a strike that lasted nearly four months. The end of the standoff means work can restart on new TV shows and films. Photo: Allison Dinner/ShutterstockReal-estate developers that have bet billions of dollars on the streaming boom cheered when striking Hollywood actors reached a tentative agreement last week with major studios and streamers. But that relief over a union deal might prove short-lived. The streaming industry that emerges from the labor battles of 2023 will be different in ways that will likely reduce demand for space by the television and film industry.

Persons: Allison

☆ Signature Loan Sale Likely to Lower Commercial-Property Values
▼ + stars: | 2023-11-07 | by ( Peter Grant | Will Parker | ) www.wsj.com time to read: 1 min

The Federal Deposit Insurance Corp. is doing what it was designed to do when banks like Silicon Valley and Signature go under: cover insured deposits. Here’s how the FDIC works and why it was created. Photo illustration: Madeline MarshallThe sale of Signature Bank ’s $33 billion in commercial-property loans and other assets is expected to attract bids as much as 40% below face value, offering new evidence of how much property prices have eroded. Regulators closed Signature Bank in March after a run on its deposits, marking the fourth-largest bank failure in U.S. history. Now, the Federal Deposit Insurance Corp. is auctioning off thousands of Signature loans backed by apartment buildings and other commercial properties primarily in the New York region.

Persons: Madeline Marshall Organizations: Federal Deposit Insurance Corp, Signature Bank, Bank Locations: Silicon, New York

☆ The Money Has Stopped Flowing in Commercial Real Estate
▼ + stars: | 2023-10-31 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The exodus of workers and businesses during the pandemic left San Francisco a shell of its former self. But there are small signs of a turnaround. WSJ explores whether new civic policies and fresh commercial interest can rejuvenate the city’s downtown. Banks, insurance companies and other commercial property lenders have been cutting back since the first half of 2022 when the Federal Reserve began increasing interest rates and recession concerns intensified. But creditors have been even more reluctant to make new loans as Treasury bond yields have soared since early August.

Persons: Roye Organizations: Federal Reserve Locations: San Francisco

☆ Silverstein Properties Parts Ways With CEO Marty Burger
▼ + stars: | 2023-10-26 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

Marty Burger had been chief executive of Silverstein Properties since 2014. Photo: etienne laurent/ShutterstockSilverstein Properties, best known as the developer of New York City’s World Trade Center, has replaced its longtime chief executive with Lisa Silverstein, the daughter of chairman and founder Larry Silverstein . Employees were told of CEO Marty Burger ’s departure on Wednesday, according to people familiar with the matter.

Persons: Marty Burger, etienne laurent, Shutterstock Silverstein, Lisa Silverstein, Larry Silverstein, Marty Burger ’ Organizations: Silverstein Properties, Trade, Employees Locations: York

☆ A Niche Real-Estate Corner Goes Mainstream in the Digital Age
▼ + stars: | 2023-10-24 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

Excitement over artificial intelligence is powering a boom in what was once a small niche in the commercial real-estate business. Developers are rushing to build hundreds of data centers, especially those with the high power and cooling systems that AI servers need. Blackstone , for one, has grown its data-center development pipeline to more than $15 billion from only $1 billion in two years. Investment firms such as PGIM Real Estate and IPI Partners are raising billions of dollars for data center-specific funds, according to people familiar with the matter.

Organizations: IPI Partners

Property ReportIt offers an ominous warning to other cities that are hoping their office towers will fill up again when more robust economic growth returns.

☆ The $1 Billion Bet to Get Us Our Steak and Ice Cream
▼ + stars: | 2023-10-17 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Tougher Return-to-Office Policies Are No Remedy for Half-Empty Buildings
▼ + stars: | 2023-10-03 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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Persons: Dow Jones

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Persons: Dow Jones

☆ Even a Booming Economy Can’t Save Atlanta’s Office Market
▼ + stars: | 2023-09-25 | by ( Peter Grant | Deborah Acosta | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ San Francisco Office Market Shows Signs of Life
▼ + stars: | 2023-09-18 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial/san-francisco-office-market-shows-signs-of-life-93a95515

Persons: Dow Jones, 93a95515 Locations: francisco

☆ Single-Family Rental Firm Taps Former Morgan Stanley Executive as President
▼ + stars: | 2023-09-05 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/single-family-rental-firm-taps-former-morgan-stanley-executive-as-president-7013e985

Persons: Dow Jones, stanley, 7013e985

☆ Blackstone, Office Giant Vornado to Join Forces on Manhattan’s First Film-and-TV Studio
▼ + stars: | 2023-08-29 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Blackstone Selling 22% Stake in Bellagio to Cash In on Las Vegas Rebound
▼ + stars: | 2023-08-25 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: blackstone Locations: bellagio

☆ Office Tenants Are Renewing Leases—but for Far Less Space
▼ + stars: | 2023-08-23 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Wall Street Is Ready to Scoop Up Commercial Real Estate on the Cheap
▼ + stars: | 2023-08-15 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ New Lending by Mortgage REITs Has Dried Up
▼ + stars: | 2023-08-08 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Bank Regulators Urge Flexibility in Commercial Real-Estate Loan Workouts as Defaults Grow
▼ + stars: | 2023-07-24 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Industries Reliant on Thriving Downtowns Suffer From Remote Work
▼ + stars: | 2023-07-03 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Fort Worth’s Commercial Real Estate Market Is Suddenly Booming
▼ + stars: | 2023-06-27 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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