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.
Tag: real estate
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