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LeBron James to Knock Down $37M Mansion and Build New Home

LeBron James to Knock Down $37M Mansion and Build New Home

by Phil Hall | Jun 26, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Basketball great LeBron James is demolishing the historic $37 million Beverly Homes mansion he purchased three years ago and building a new residence on its site. According to a House Beautiful report, the 13,000-square-foot Spanish Mission style mansion on a 2.5-acre...
Renters Starting to See Some Relief in Housing Costs

Renters Starting to See Some Relief in Housing Costs

by Phil Hall | Jun 26, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The median asking monthly rent in the nation’s 50 largest metros dropped by 0.5% year-over-year last month to $1,739, according to new data from Realtor.com, which added that while rent prices increased nationwide by $3 from April, they were still down $38 from the...
Rising Mortgage Rates Create New Mayhem in UK Housing Market

Rising Mortgage Rates Create New Mayhem in UK Housing Market

by Phil Hall | Jun 26, 2023 | International Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The U.K.’s housing market entered another perilous week with higher mortgage costs and the potential for additional interest rate hikes from the nation’s central bank. According to combined media reports, the financial data provider Moneyfacts reported the average...
Prologis Pays $3.1B for Blackstone’s Industrial Real Estate Portfolio

Prologis Pays $3.1B for Blackstone’s Industrial Real Estate Portfolio

by Phil Hall | Jun 26, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Prologis Inc. (NYSE: PLD) is paying $3.1 billion to acquire nearly 14 million square feet of industrial properties from real estate funds affiliated with Blackstone (NYSE:BX). The price on the all-cash transaction represents an approximately 4% cap rate in the first...
Mexican Real Estate Company Vesta Launches US IPO

Mexican Real Estate Company Vesta Launches US IPO

by Phil Hall | Jun 26, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The industrial-focused Mexican real estate company Corporación Inmobiliaria Vesta, S.A.B. de C.V., more commonly known as Vesta, has launched its initial public offering (IPO) of 12.5 million American Depositary Shares (ADSs), representing 125 million of its common...
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