AI is fueling a gold rush in new data centers, the hottest buildings in real estate
|
| |
MSN/MarketWatch ^
| Joy Wiltermuth
The latest hot spots in commercial real estate aren’t in Manhattan or Miami. Instead of snazzy hotels or glistening office towers, the new property darlings are power-hungry data centers, often in places like Northern Virginia; Columbus, Ohio; and Salt Lake City. Traditionally box style, these buildings are all about function: A place
for racks and racks of computers to be stacked up high, kept cool, and girded for the boundless stream of images, videos, chats, text, internet searches and the digital detritus of our lives. Their goal isn’t merely to contain, host and sort data billowing from computers and smart...
|
|
|
Canadian pension plan dumps stake in NYC commercial real estate project for just $1 in ‘opposite of a vote of confidence for office’
|
| |
Fortune ^
| 02/28/2024 | ARI ALTSTEDTER, PAULA SAMBO AND BLOOMBERG
Canadian pension funds have been among the world’s most prolific buyers of real estate, starting a revolution that inspired retirement plans around the globe to emulate them. Now
the largest of them is taking steps to limit its exposure to the most-beleaguered property type — office buildings. Canada Pension Plan Investment Board has done three deals at discounted prices, selling its interests in a pair of Vancouver towers, a business park in Southern California and a redevelopment project in Manhattan, with the New York stake offloaded for the eyebrow-raising price of just $1. The worry is those deals may set...
|
|
|
China's Real Estate Collapse
|
| |
X twitter ^
| Feb 27, 2024 | Reef Insights
At the heart of the decline in family wealth is China's real estate meltdown, which is having a pervasive effect on a society where 70% of family assets are tied up in property. Towards
the end of last year, 34 of the top 50 Chinese property developers were in default.. China has rolled out new rules meant to expand access to commercial bank loans for property developers as Beijing doubles down on its effort to end a prolonged crisis in the real estate industry. In an attempt to stabilize financial markets and boost the economy, the Chinese government has cut...
|
|
|
The 8th Amendment comes out in favor of Trump in the New York Real Estate Case
|
| |
American Thinker ^
| 02/27/2024 | Daniel R. Street
On February 16, 2024, a judge in New York State imposed fines totaling just over $360 million on former president Donald J. Trump, The Trump Organization, and several related Trump companies and trusts in the civil case brought by the New York attorney general. President
Trump’s sons Donald Trump, Jr. and Eric Trump were fined just over $4 million each. The court imposed additional sanctions, including injunctions against former president Trump; Donald Trump, Jr.; and Eric Trump from serving as officers or directors in New York corporations for specified numbers of years, among other sanctions.The media reporting on the court’s...
|
|
|
Real estate investor to 'immediately discontinue' working in NYC over Trump verdict, eyeing Florida, Texas
|
| |
Fox Business ^
| 2/21/24 | Kristen Altus
Some nationwide real estate investors, like Cardone Capital’s Grant Cardone, have started telling their teams to pack their bags and leave New York after the verdict in former President Trump’s fraud trial. "We
thought this year was the opportunity to come into Chicago, California and New York City. I've been waiting for 40 years now to invest in that marketplace. I was completely confident this was the year to come," Cardone told Steve Doocy on "FOX & Friends" on Wednesday. "And when that ruling happened, it was like, pencils down. Don't touch it. Don't go there." The business leader gained...
|
|
|
New York’s Trump Fraud Findings Refute Judge’s Conclusions: And the entire New York real estate market is noticing with justifiable alarm.
|
| |
American Thinker ^
| 02/22/2024 | Jay Tucker
Last week, a New York court issued judgments against Donald J. Trump and his sons, asserting violation of state anti-fraud law in connection with several real estate mortgage loans. The
judgments, which aggregate $355 million and may escalate to $454 Million or more, shocked Republicans and Democrats alike and stunned the national real estate community. It was immediately apparent that something was wildly wrong, since the Trump transactions were nothing unusual or remarkable for the real estate industry. Essential Requirements for Claims of FraudThe case primarily involves applications for mortgage loans submitted by Trump entities to major federal banks. The...
|
|
|
Trump’s Most Valuable Real Estate Properties Ranked
|
| |
www.gobankingrates.com ^
| August 21, 2023 | By Laura Beck & Jennifer Taylor contributed to the reporting for this article.
Former President Donald Trump is rich, but given his reluctance to disclose his tax returns and other pertinent financial information through the years, finding the total of Trump’s assets has been a tall task. But
it’s one that this year, Forbes undertook, and through its research, the publication found that the 45th president has property, cash and other assets worth $2.5 billion, cementing his place on the Forbes list of billionaires. His properties represent a big chunk of that total worth. Trump got his start working for his father, Fred, a developer in the New York City boroughs of Brooklyn...
|
|
|
Billion Dollar Real Estate Investor Grant Cardone Says He Won't Invest in NY, Will Double Efforts in Red States
|
| |
Red State ^
| 02/19/2024 | Levon Satamian
Real estate investor Grant Cardone posted on X that his company, CardoneCapital, had initiated research into potential investments in New York. However, former President Trump was ordered to pay $355 million following a civil fraud ruling. CardoneCapital
just started to research real estate investments in New York believing it was time to get into the market.After the over reach by the judge in the Trump case & penalties imposed of $355M I told them team do NOT waste time in New York.We will 2X our efforts in: Florida Arizona Texas Tennessee pic.twitter.com/zhpA0Su09K— Grant Cardone (@GrantCardone) February 19, 2024Cardone said his...
|
|
|
Kevin O’Leary slams Trump’s civil ruling as ‘un-American’ and a shock to the entire real estate industry
|
| |
NY Post ^
| Feb. 16, 2024 | Mary K Jacob
In a scathing rebuke of a New York Judge’s decision to fine Donald Trump a staggering $355 million, the entrepreneur and media personality Kevin O’Leary minced no words, denouncing the ruling as “unjust,” “appalling” and ultimately “un-American.” Manhattan Supreme Court Justice Arthur Engoron’s Friday ruling not only slapped Trump with that hefty
fine, but also with a temporary ban from conducting business in his native New York. O’Leary, known for his role on “Shark Tank,” lambasted the decision, arguing that it sets a dangerous precedent for the entire real estate industry. O’Leary had previously been critical of the months-long fraud...
|
|
|
‘Mr. Wonderful’ slams Trump ruling: ‘You might as well find guilty every real estate developer on Earth’
|
| |
American Wire ^
| February 17, 2024 | Chris Donaldson
Manhattan Supreme Court Justice Arthur Engoron and New York Attorney General Letitia James may have scored a major hit on former President Donald J. Trump with the unprecedented $354 million penalty but they may have inadvertently inflicted grave damage on the entire real estate industry. On
Friday, leftists were jubilant when Engoron announced the crushing financial blow on Trump, a ruling that in the opinion of one notable business expert, Kevin O’Leary of the popular television show “Shark Tank” is “un-American” and if not reversed on appeal, could potentially lead to other real estate developers facing similar charges from political...
|
|
|
Financial Markets And Real Estate
Home
Daddy (Ukraine) Warbucks Biden’s Hideous Debt Mess! (Biden Has Added $6.5 Trillion In Debt With Only $1.95 Trillion In Real GDP Growth As Jobs Report Reveals Weakness In Economy)
|
| |
Confounded Interest ^
| 02/10/2024 | Anthony B. Sanders
I watched Tucker Carlson’s interview with Russian President Vladimir Putin. Putin is an amazing contrast to our 81-year old President with dementia who can barely speak while Putin was articulate. Not
at all what Hillary Clinton was raving about (she is still furious about losing to Trump after losing to Obama). One thing that caught my attention was Putin talking about The Fed’s endless printing of money. Well, THAT is how the US grows GDP these days. Borrow and spend with the private sector as an after thought. Let’s revisit the HORRIBLE jobs report from December. Not only were all...
|
|
|
"Fake Chinese income" mortgages fuel Toronto Real Estate Bubble: HSBC Bank Leaks
|
| |
Bureau (Blogger) ^
The whistleblower, a Canadian business school graduate, was staggered by the suspicious home loans he discovered in 2022 when he joined a mortgage approval team in a small HSBC branch on the outskirts of Toronto. He knew of suspicions surrounding Chinese capital in British Columbia real estate, but had never witnessed shady
lending while working at an HSBC branch in Campbell River, a bucolic town on the coast of Vancouver Island. When he arrived at HSBC’s bank in Aurora, an affluent suburb north of Toronto, he discovered explosive growth in home loans to Chinese diaspora buyers during the Covid-19 pandemic....
|
|
|
How to Find a Tough Real Estate Attorney
|
| |
February 1, 2024 | Self
We are in North Idaho and need a real tough, combative, junkyard dog real estate attorney with a good track record. How
do you go about finding such an attorney? The lot below us sold after being in one family for many decades. A developer bought it (call him Party 1) and has been less than forthcoming about his plans for the property. He proposes to build a second building on the property that will partially block our lake view and completely block another neighbor's lake view. The building plans comply with setback and height limitations so there's nothing there...
|
|
|
Billionaire CEO sees $1 trillion in commercial real estate defaults coming for ‘very, very ugly market’ over next 2 years
|
| |
Yahoo ^
| January 22, 2024 | Will Daniel
Rising interest rates, the remote work trend, and the dominance of e-commerce sellers have combined to hammer the commercial real estate market over the past few years. Sky-high
office and retail space vacancies are plaguing owners in this new environment, rents are plummeting, and borrowing costs have soared. As a result, U.S. commercial real estate prices have fallen 11% since the Federal Reserve began raising interest rates in March 2022, the IMF reported last week, the worst decline in over 50 years. The outlook for the sector is now so bleak that Cantor Fitzgerald’s billionaire chairman and CEO Howard Lutnick...
|
|
|
Bank of America Initiates Layoffs in Asia Amid Market Woes… Economic Alarm Bells Ring with Fed Survey and Real Estate Downturn.
|
| |
Citizen Watch Report ^
Bank of America (BAC) has made headlines by announcing layoffs of approximately 20 bankers in Asia, marking the first major downsizing move in 2024. The
decision comes as China and Hong Kong markets continue to underperform, leading to a growing bearish sentiment among smart money players. This move sets the tone for potential shifts in the financial landscape as major institutions respond to market challenges. The economic landscape is painted with shades of concern as the Richmond Fed Survey reveals three consecutive declines. The performance post-lockdowns has experienced a downward trajectory since the 2008 Global Financial Crisis (GFC). This trend...
|
|
|
Commercial real estate implosion: Blackstone is desperately trying to shift Manhattan office tower at HALF price after 26-storey building's value tumbled from $605MILLION to $150MILLION
|
| |
DAILYMAIL.COM ^
| 1-18 | Dominic Yeatman For Dailymail.Com • 23h
World's biggest private equity fund takes a $450million hit on prestigious New York landmark amid a collapse in the commercial property market Comes as landlords across the country write down their portfolios in the wake of high interest rates and an exodus of office workers The price of office space has fallen
35 percent since 2022 leaving US banks vulnerable to billions of dollars in shaky loans The world's biggest private equity fund has become the latest victim of America's hollowed out office culture after it marketed its landmark New York building for a quarter of what it paid. Blackstone...
|
|
|
Real Estate Agents: 11 Signs It’s Time To Sell Your Home
|
| |
GOBankingRates ^
| Jan 10, 2024 | Nicole Spector
How the year will shape up in the housing market isn’t yet clear, but there are some predictions that things will ease up for homebuyers. We
may see interest rates fall and inventory increase. But just because things could be easier on buyers this year doesn’t mean sellers are necessarily in for a tough time. Indeed, better days could be ahead, as some real estate experts anticipate housing sales to pick up in 2024. Rather than getting ahead of ourselves with predictions on what prospective sellers can expect in the housing climate in 2024, let’s back up a bit and...
|
|
|
Office Real Estate Winners and Losers in 2023
|
| |
The Messenger ^
Plagued by vacancies, office landlords are battling perceptions of empty buildings and financial loss. However,
not all office markets are created equal — and many are still seeing success, as we will point out below for 2023. The pandemic has caused a reversal of what areas of the country are central to business operations as employees have transitioned to remote work and companies have relocated to other states. In mid-November, the average weekly occupancy across 10 metros was 50%, according to card swipe access data of 2,600 buildings in 138 cities by Kastle Systems. But when examining individual markets, that...
|
|
|
JUST IN: NY AG Letitia James Increases Amount She Wants From Trump to $370 Million, Seeks Lifetime Ban for Him From Real Estate Industry
|
| |
The Gateway Pundit ^
| January 5, 2024 | Cristina Laila
Radical Marxist New York Attorney General Letitia James is now seeking $370 million in ‘damages’ when there is no victim in this fraud case and she is also seeking to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders
and insurance companies. James originally sought $250 million in damages from Trump. In addition to increasing the amount of ‘damages’ she wants Trump to pay, Letitia James is seeking a lifetime ban for him from the real estate industry. NBC News reported:
|
|
|
John Dennis: I was threatened tonight to be put “in the hospital a long time” by a prominent San Francisco real estate developer because I’m a Republican
|
| |
Twitter/X ^
| Dec 17 | John Dennis
@RealJohnDennis I was threatened tonight to be put “in the hospital a long time” by a prominent San Francisco real estate developer because I’m a Republican. It’s in a text exchange. Have
screenshots. Called me a “MAGA bitch.” Should I name him? As I just said in a private thread, I’m sick of being threatened in this town because I’m a Republican. I’m furious at the moment. Want to sleep on it. I pushed back against his insults but did not threaten violence against this person. He brought that up all on his own.
|
|
