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Nearly One-Third of San Francisco’s Office Properties are Vacant

Nearly One-Third of San Francisco’s Office Properties are Vacant

by Phil Hall | Jun 29, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

If you’re looking to lease office space in San Francisco, you have an excessive quantity of choices at your disposal. New data from the commercial real estate brokerage CBRE (NYSE:CBRE) determined 31.8% of San Francisco’s office properties were vacant during the...
FHA Increases Threshold on Multifamily Large Loans

FHA Increases Threshold on Multifamily Large Loans

by Phil Hall | Jun 29, 2023 | Commercial Real Estate News, Industry Updates, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Federal Housing Administration (FHA) published a Mortgagee Letter that increases the threshold at which a multifamily loan is considered a large loan from $75 million to $120 million. This marked the first increase in the multifamily loan threshold since 2014. The...
Jared Kushner’s Father Makes Unsolicited Bid for New Jersey-Based REIT

Jared Kushner’s Father Makes Unsolicited Bid for New Jersey-Based REIT

by Phil Hall | Jun 28, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

A company owned by Charles Kushner, the father of former President Donald Trump’s son-in-law and one-time political advisor Jared Kushner, has made an unsolicited offer to buy a real estate investment trust. K Corp Acquisitions LLC, owned by Charles Kushner, reached...
Tim Gallagher Named Head of Commercial Real Estate at M&T Bank

Tim Gallagher Named Head of Commercial Real Estate at M&T Bank

by Phil Hall | Jun 28, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Buffalo, New York-headquartered M&T Bank (NYSE:MTB) has recruited Tim Gallagher to become head of commercial real estate. Gallagher joins M&T from Slate Asset Management, where he was managing director. Gallagher also held managing director positions at Annaly...
Lance Brown Steps Down as CFO at Harbor Custom Development

Lance Brown Steps Down as CFO at Harbor Custom Development

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

Harbor Custom Development,Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ), a Tacoma, Washington-based real estate company involved in all aspects of the land development cycle, announced Lance Brown is stepping down as chief financial officer (CFO), effective July 21. In a...
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...
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