- Relaxed CDC Covid Guidelines Seen as Boost for Return to the Workplace “Many executives and city leaders who had been struggling to break pandemic work-from-home habits see this as a boost to their halting efforts to bring people back into the workplace. They say that previous CDC recommendations made it difficult to enforce their policies, since one exposure could send an entire team home.” (The Wall Street Journal)
- 'It's Just Noise': CRE Dismisses Rising Anti-ESG Rhetoric Amid Calls For Climate Risk Transparency “Commercial real estate, an industry that has led ESG efforts as one of the largest contributors to global carbon emissions, has largely shrugged off the rhetoric so far. That rhetoric has ratcheted up in recent weeks, with some opponents going so far as to penalize companies that promote environmental or social action.” (Bisnow)
- Adam Neumann Gets a New Backer “Neumann’s new company Flow wants to transform the residential rental real estate market. Notably, it has the financial support of Andreessen Horowitz, the prominent Silicon Valley venture capital firm that was an early investor in everything from Facebook to Airbnb.” (The New York Times)
- Your Commercial Real Estate CIO Shouldn’t Be the Only One Responsible for Innovation “Though the report focused on digital transformation for the built environment, it highlighted the fact that limiting innovation to one role in the C-Suite holds the entire industry back. Innovation needs to be ingrained in an organization’s culture and have everyone’s support in order to be successful.” (Propmodo)
- Buildings on the Verge of a Midlife Crisis “The late-30s/early-40s stable of office product accounts for about a third of the national market today. If these buildings are going to make it to normal office life expectancy (around 60 years) a lot of them will need mechanical upgrades, environmental upgrades and amenities that are well beyond the newspaper stands and coffee kiosks that were once lobby mainstays.” (Commercial Observer)
- Brookfield Raises $14.5B For New Fund And Is Buying At ‘Unprecedented’ Yields “In second-quarter results released yesterday, Brookfield said it expected the Brookfield Strategic Real Estate Partners IV fund to close before the end of September. It began raising money for the fund last autumn, with a target of more than $17B of equity. It will be the largest real estate fund Brookfield has raised, and it comes in the wake of Blackstone raising $20B for its latest opportunity fund last month.” (Bisnow)
- Digging Into Real Estate Blockchain “There are significant limitations in the assumptions that are frequently encouraged in the crypto-related spaces. How strong is liquidity if the only option is to exercise it in a specific exchange?” (GlobeSt.com)
- Metaverse Real Estate Under Water “The average price of a parcel at five of the largest Ethereum-based metaverse projects fell to around $2,500 from almost $21,000 in January, according to WeMeta, a metaverse data and analytics company. The drop was even sharper at the Sandbox, the largest metaverse world by volume of land sold, where the average has fallen to about $2,800 from $35,500.” (Forbes)
- Copy-paste error leads to homebuyer getting whole neighborhood “Although amusing, fixing the erroneous land grab will be quite a headache, and require the homebuyer to transfer the title back to Toll Brothers, who will then in turn transfer it to new property owners through typical channels.” (New York Post)
- U.S. Housing Affordability in June Was the Worst Since 1989 “The drop in affordability makes it especially hard for first-time buyers to enter the market and access the main path for the U.S. middle class to build wealth.” (The Wall Street Journal)
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