- WeWork CEO: Traditional Office Is The New Retail, And We're E-Commerce “As part of its efforts to entice stock market investors, Mathrani argued that his company is meaningfully differentiated from the traditional office real estate sector by drawing an analogy: If the conventional office is brick-and-mortar retail, WeWork is e-commerce.” (Bisnow)
- Private Credit Will Offer Some of the Best Returns in Alts — But Defaults Will Rise “KKR is betting private credit will be one of the best performing alternative investment categories over the next five years. But the asset manager is warning investors that defaults will also rise as the outlook for the economy remains uncertain.” (Institutional Investor)
- These 15 Banks Have a Risky Specialty. So Far, It Isn’t a Problem. “Which lenders have the most at stake? Banking regulators have set guidelines for concentration in commercial real estate loans, so Barron’s asked S&P Global Markets Intelligence to scour federal filings for banks that exceed those levels. We then focused on the 15 largest banks in that group.” (Barron’s)
- Prologis is Meeting Growing Customer Demand for Data-Rich Facilities, CTO Says “Amid the well-documented pressures that global supply chains have experienced in the last few years, artificial intelligence (AI) and technology have been redefining the role of logistics real estate, says Sineesh Keshav, chief technology officer at Prologis.” (Nareit)
- STR: Weekly US Hotel Occupancy Decreases as Spring Break Impact Recedes “Reflecting the normal ebb and flow of spring break season, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through March 25. Occupancy: 64.9% (-0.6%, -6.3%) Average daily rate (ADR): $158.61 (+4.7%, +19.5%) Revenue per available room (RevPAR): $102.98 (+4.1%, +12.0%)” (CoStar)
- Unrealized Losses Are the Dirty Little Secret of Commercial Real Estate “On one hand you can posit that unrealized losses are still losses because you could have used that money for something else. For this reason the idea of opportunity costs is deeply ingrained in the investment mindset. But you could also take the other side because technically the investment period has not come to an end so there is no use in worrying about the hypothetical losses.” (Propmodo)
- More than 10K residences could replace SF’s empty office towers “By those standards, if 40 percent of the vacant space within northeast San Francisco was turned into housing, 11,200 units could be created. The study assumes that the average apartment would be 650 square feet.” (The Real Deal)
- Google’s Top Real Estate Executive Departs as Company Shifts From Expansion to Contraction “One of Google’s top commercial real estate executives has left the company, a departure that comes as the Silicon Valley tech giant pivots away from decades of expansion.” (CoStar)
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