CBRE will buy a 60% stake in Turner & Townsend for $1.3 Billion. The deal between world’s largest commercial real estate services firm and London-based project manager targets alternative energy efforts.

The vast majority of the 1.55 million homeowners who are seriously delinquent—meaning they haven’t made mortgage payments in at least 90 days—are in active forbearance. That represents about 2.9% of the 53 million active mortgages, down from a high of about 4.4% in August and September 2020.

Athene Holding Ltd., the insurer and annuity seller backed by Apollo Global Management Inc., agreed to acquire a mortgage lender from Fortress Investment Group as it seeks to pick up assets in the U.K. With the purchase of Foundation Home Loans, Athene will pick up a 3 billion-pound ($4.2 billion) portfolio of mortgages to be managed by Apollo.

As of June 30, total returns from self-storage real-estate investment trusts reached 36%, outpacing other REIT sectors except shopping center and mall landlords. Over the same period, the FTSE Nareit Equity REITs Index gained 22% and the S&P 500 climbed 15%.

The Consumer Financial Protection Bureau has issued a final rule that extends its foreclosure moratorium through August 31 — but allows foreclosures to resume after that under limited circumstances. The new rules require mortgage services to give borrowers a chance to avoid foreclosure, including resuming regular mortgage payments and deferring the missed payments until the end of the mortgage term, lowering of monthly mortgage payment amounts or selling their homes.

Venture-backed startup Katerra Inc. aimed to revolutionize the construction business by mastering every element of the trade at once. Instead, its June bankruptcy filing wiped out nearly $3 billion of investor money, making it one of the best-funded U.S. startups ever to go bankrupt.

The median existing-home sales price in May topped $350,000 for the first time. The figure was nearly 24% higher than a year ago, the biggest year-over-year price increase NAR has recorded in data going back to 1999.

The Biden administration ousted the head of the Federal Housing Finance Agency after the Supreme Court ruled it was structured unconstitutionally, and rejected most claims by a group of investors who challenged a government decision to channel the firms’ profits to the Treasury Department. The most commonly traded class of Fannie Mae preferred shares closed at $2.52 a share Wednesday, down about 62% from its close a day earlier.

Blackstone Group Inc. has agreed to buy Home Partners of America Inc., a company that buys and rents single-family homes, in a $6 billion deal that’s a sign Wall Street believes the U.S. housing market is going to stay hot. Home Partners owns more than 17,000 houses throughout the U.S., which it bought, rents out and offers its tenants the chance to eventually buy.

Investors looking to cushion their portfolios against inflation helped real-estate stocks lead the S&P 500 in recent weeks. The real-estate sector, which focuses on companies that rent properties, has gained 14% this quarter, more than double the 6.9% gain of the broader stock index.