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.
New York now has more Airbnb listings than available apartments for rent, according to Curbed. The latest AIA Architecture Billings Index reading shows continued demand. These are among today’s must reads from around the commercial real estate industry.
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