Digital Bridge, merged with Colony Capital in 2019, at which time 80% of Colony’s assets were in traditional real estate. Since then, 60% of the merged company’s assets have become data centers, cell towers and fiber networks.
Hudson Group, which runs the eponymous convenience shops in U.S. airports and temporarily closed more than 700 of its more than 1,000 stores during the pandemic, has reopened 635 of them.
The federal eviction moratorium doesn’t guarantee renters the right to renew their leases. When leases expire, that is when many landlords weigh the government’s offered rent assistance payments against the chance to remove a tenant the owner no longer wants in the building.
Alphabet Inc. said it would spend $7 billion this year expanding its footprint of offices and data centers across the U.S., including pouring $1 billion into its home state of California.
Reduced demand for Manhattan apartments during the pandemic sent median rental prices down more than 17% for the year ending in December. Building owners removed 1,814 apartment listings in Manhattan in February, three times the number of apartments landlords removed from the market in February of 2020.
Buyout firms’ global real estate funds are now sitting on more than $300 billion of unspent cash.
Mortgage lenders originated a record $3.69 trillion worth of mortgages last year. With the 30-year mortgage rate near 2.97%, between 15.2 million and 16.7 million Americans could lower their monthly mortgage payments through a refinancing.
The CDC order covers tenants who can’t pay their full rent due to a substantial loss of household income, loss of compensable hours of work, a layoff or extraordinary medical expenses. While the intent of the CDC moratorium was to prevent the spread of Covid, there is no requirement in the order that the income loss be due to Covid.
Research from Moody’s Analytics and the Urban Institute estimates 9.4 million U.S. renter households owed an average of $5,586 in back rent, utilities and related late fees as of January, for a total burden of $52.6 billion.