Category: REIT

That might still not be enough to save many smaller operators.

Median rent for apartments in Manhattan has reached its lowest point in nearly a decade, reports The New York Times. J.C. Penney filed a sale agreement with landlords Simon Property Group and Brookfield Asset Management after weeks of delays and negotiation, according to Retail Dive. These are among today’s must reads from around the commercial real estate industry.

The company plans to close about 350 Gap and Banana Republic stores in North America by the end of 2023.

The National Multifamily Housing Council rent payment tracker found 90.6 percent of apartment households made a full or partial rent payment by Oct. 20. Apartment REITs are seeing a surge in vacancies, reports the Washington Post. These are among today’s must reads from around the commercial real estate industry.

The developer wants to turn a parking lot at 250 Water Street into two mixed-use towers of affordable rentals, offices and condo units.

The luxury gym operator is working with legal and financial advisers on how to manage upcoming debt obligations.

The pandemic is threatening urban renewal in cities across the nation, according to the Associated Press. San Francisco restaurants can increase indoor capacity to 50 percent starting Nov. 3, reports the San Francisco Chronicle. These are among today’s must reads from around the commercial real estate industry.

The retailer filed a draft purchase agreement on to sell itself to Simon Property Group, Brookfield Property Partners and its senior lenders.

Investment volume continued to fall in the third quarter, but prices showed a slight uptick, according to Real Capital Analytics.

Uber founder Travis Kalanick is acquiring vacant restaurants and auto body shops for his ghost kitchen venture, reports the Wall Street Journal. U.S. single-family homebuilding permits rose to a 13-year high in September, according to Reuters. These are today’s must reads from around the commercial real estate industry.