Around 2,000 old buildings in the U.S. have been converted into apartments over the past 70 years, with 778 of those conversions taking place in the last decade, according to a new report from RENTCafé. That figure represents an all-time high for multifamily conversions. Here are examples of some of the most popular building types that have been converted into residences during that time period.
In 2019, well before the coronavirus pandemic, about three-fourths of family offices were investing in real estate. Amid the pandemic, family offices appear to be even more committed to real estate. In a Q&A with NREI, Kris Ferranti, a partner in the real estate practice of New York City-based law firm Shearman & Sterling LLP, discusses which real estate sectors are popular and unpopular with family offices, and how eager family offices are to capitalize on low interest rates and distressed properties.
Retail giant Amazon.com came under fire after reporting that almost 20,000 of its frontline workers, including from subsidiary Whole Foods Market, have been infected with COVID-19.
Business leaders in New York City are growing increasingly frustrated with their lack of input in a process to help the city recover, according to the Wall Street Journal. Ashford Hospitality has completed more than $1.2 billion of forbearance pacts with its lenders, reports the Dallas Business Journal. These are among today’s must reads from around the commercial real estate industry.
