California’s Wildfire Crisis: $30 Billion in Real Estate Losses and a Long Road to Recovery

The sun nearing the horizon over Long Beach, California lining up with one of the main streets in the city illuminating the pavement shot from about 1000 feet overhead.

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.

Climate Change Disrupts Real Estate Trends

Portrait of multiracial parents holding their kids in front of the house

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.

Office-Building Surplus Could Be Ripe for Apartment Conversion

Personal perspective of five corporate coworkers photographed through windows sitting at their desks on two floors in modern office at night.

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_Insurance considering sale of reinsurance co

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