Catch up on the latest information across the Commercial Real Estate business covering brokerage news, development projects, leasing, property management trends and proptech.
The state will sell development rights to private developers and collect payments-in-lieu-of-taxes, known as PILOTs, on newly constructed and environmentally friendly office and residential buildings.
Some buyers are trying to renegotiate prices, but a net result of recent moves could be a tightening in the spread between multifamily cap rates and yields on 10-year Treasuries.
Rents are soaring across the country as would-be homebuyers get priced out by the fastest-rising mortgage rates in decades and slide back into the overcrowded rental market.
With a shrinking delta in cap rates between assets of different vintage, many investors opt to go with lower risk newer properties and fewer capital expenditures.
For two years, headlines have screamed about a bloodbath in the office sector. Research from Moody’s Analytics shows those headlines have little in common with reality.