Troubled co-working operator WeWork has structured some leases under LLCs that are not guaranteed by its holding company, which will leave those landlords holding the bag for the free rent and TIs they provided to help get the spaces up and running. The landlords will also be left with vacant spaces, which may be backfilled with former WeWork tenants or another co-working operator at a lower price.
The performance of student housing properties in the lease-up for the fall 2019 semester varied more widely than usual, according to industry sources, including Carl Whitaker, who manages the market analytics team for RealPage Inc., a provider of property management software and services. Some student housing assets performed very well, while others struggled.
Apple is the latest tech giant to commit billions toward affordable housing in the Bay Area, reports MarketWatch. The New York Times looks at how Airbnb is marketing itself. These are among today’s must reads from around the commercial real estate industry.
