The devastating Palisades and Eaton fires have inflicted an estimated $30 billion in real estate losses, displacing nearly 13,000 households and severely impacting local communities.
Tag: real estate
Climate Change Disrupts Real Estate Trends
Residential real estate, valued at $50 trillion, has long been a cornerstone of the U.S. economy. However, climate change is significantly altering homeownership trends and property values.
Progressive to Sell Office Buildings as Shift to Remote Work Cuts Need for Space
Progressive Corp. intends to list several of its office buildings across the United States for sale as it consolidates office buildings amid a changing work environment, a company spokesman said.
Distress in Office Market Spreads to High-End Buildings
Defaults and vacancies are on the rise at high-end office buildings, in the latest sign that remote work and rising interest rates are spreading pain to more corners of the commercial real-estate market.
Office-Building Surplus Could Be Ripe for Apartment Conversion
The two-tower Park Center in this Washington, D.C., suburb was another graying office complex a few years ago. One building was roughly one-third empty, while the largest tenant in the other was preparing to vacate. The property is now being redeveloped as upscale apartment buildings. Private cabanas for small gatherings, grilling stations, a bocce lawn,… Continue reading Office-Building Surplus Could Be Ripe for Apartment Conversion
AXA Splits Asset Manager, Makes $156 Billion Alternative Arm
AXA SA plans to create a 137 billion-euro ($156 billion) asset-management unit to cater to the growing demand for real estate and other alternative assets. The French insurer will divide its asset-management business in two units: alternatives under Isabelle Scemama and a 536 billion-euro “core” division arm led by Hans Stoter, according to a statement… Continue reading AXA Splits Asset Manager, Makes $156 Billion Alternative Arm