The average cost of renting a new apartment grew by more than 15 percent in 2021 across the U.S., according to commercial real estate services firm Marcus & Millichap. Rents are likely to grow by another 9 percent in 2022, the firm’s researchers predict.
While most private equity-backed car wash operators have aggressive acquisition goals, their expansion plans also involve the development of tens of thousands of locations.
The report from American Hotel & Lodging Association and Kalibri Labs projects that hotel business travel revenue will remain 23% down from 2019 by the end of this year.
Blackstone agreed to buy American Campus Communities Inc. in a deal valued at $12.8 billion. The YIMBY movement is gaining momentum, reports The Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
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