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DHS Claws Back $59 Million Given to NYC Hotels Housing Illegal Immigrants

DHS Claws Back $59 Million Given to NYC Hotels Housing Illegal Immigrants

by Phil Hall | Feb 12, 2025 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The Department of Homeland Security (DHS) has confirmed it has successfully clawed back the $59 million from an unauthorized transfer to New York City hotels that are housing illegal immigrants. The Federal Emergency Management Agency (FEMA) suspended the payments...
Forecast: Commercial/Multifamily Mortgage Borrowing and Lending to Rise 16% This Year

Forecast: Commercial/Multifamily Mortgage Borrowing and Lending to Rise 16% This Year

by Phil Hall | Feb 12, 2025 | Commercial Real Estate News, Mortgage Information, News/Current Events, Real Estate News, WRE News Exclusive

Commercial and multifamily mortgage borrowing and lending is expected to rise to $583 billion this year, according to an updated forecast from the Mortgage Bankers Association (MBA). This represents a 16% increase from 2024’s estimated total of $503 billion....
4 FEMA Workers Fired for Unauthorized Payment of $59 Million to NYC Hotel Housing Migrants

4 FEMA Workers Fired for Unauthorized Payment of $59 Million to NYC Hotel Housing Migrants

by Phil Hall | Feb 11, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

The Department of Homeland Security (DHS) has fired four employees of the Federal Emergency Management Agency (FEMA) for making an unauthorized transfer of $59 million to New York City hotels housing illegal immigrants. DHS released a statement to Fox News announcing...
Meridian Senior Living Expands into Colorado with Denver-Area Acquisition

Meridian Senior Living Expands into Colorado with Denver-Area Acquisition

by Phil Hall | Feb 11, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

Meridian Senior Living, a Bethesda, Maryland-headquartered owner/operator of seniors housing communities, has acquired of Pine Grove Crossing, a 127-unit senior living community in Parker, Colorado, through a joint venture with an unnamed state pension fund investor....
New Jersey Medical/Office Property Sells for $22 Million

New Jersey Medical/Office Property Sells for $22 Million

by Phil Hall | Feb 11, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

A 151,339-square-foot medical/office building in Fairlawn, New Jersey, has sold for $22 million. Located along Route 208, the three-story property was built in 1986 and is anchored by Summit Health, which consolidated five area sites and practices at this location....
FEMA Suspends Payments to NYC Hotels Housing Illegal Immigrants

FEMA Suspends Payments to NYC Hotels Housing Illegal Immigrants

by Phil Hall | Feb 10, 2025 | Commercial Real Estate News, Real Estate News, WRE News Exclusive

The Federal Emergency Management Agency (FEMA) has suspended payments sent to hotels in New York City lodging illegal immigrants after Elon Musk posted that the Department of Government Efficiency (DOGE) discovered $59 million was sent last week despite President...
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