URW valued its U.S. portfolio at $13.2 billion at the end of 2021 and wants to deleverage those properties and sell them at 30 percent off when compared to the 2021 valuations, according to Lonnie Hendry Jr., head of advisory services at Trepp. That won’t be easy, he says.
The new publicly-traded entity will control Brookfield’s fee-generating assets, such as real estate, infrastructure, credit, private equity and renewable energy.
Duke Realty rebuffed Prologis’ takeover bid. Less than a tenth of Manhattan’s office workers are coming in full-time, reports The New York Times. These are among today’s must reads from around the commercial real estate industry.
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