- C-Star Exits SFR Fund in Sale to Institutional Operator “Investment firm C-Star has exited its first fund, an aggregated portfolio of single-family rental homes in the Atlanta metro area, in a sale to an unnamed institutional SFR operator. C-Star CEO Sherri Li said the fund almost doubled its purchase price and received multiple cash offers from key players in the SFR sector. It sold at an in-place cap rate of sub-4% and at more than 10% over asking to an institutional investor that currently owns 40,000 homes across the United States.” (GlobeSt.com)
- Multifamily Real Estate’s Mandate for Climate Change “Climate change has reached a critical juncture, with the United Nations’ climate panel recently warning that global warming is advancing much faster than anticipated. With real estate a significant contributor—the International Energy Agency estimates that buildings are responsible for 37 percent of global energy-related carbon dioxide emissions, with about three-quarters of that from operations and the remainder from creation of building materials—growing interest in the environment as part of a three-pronged ESG strategy could have a real impact.” (Multi-Housing News)
- Housing Crisis 2022: Rent Control Bubbles to the Surface Again “With renters squeezed by high rents, talk — and increasingly policy — turns to rent control.” (Bisnow)
- Judge Says Real Estate Giant Broke Rules for Trump “A New York judge has determined that Cushman & Wakefield, one of the world’s largest real estate firms, broke its own rules to appease the Trump Organization and the former American president’s chronic practice of inflating the value of his properties. Judge Arthur F. Engoron’s surprising assertions were included in his court order on Wednesday, in which he formally directed Cushman & Wakefield to turn over documents to the New York attorney general’s office.” (The Daily Beast)
- PayPal Vacates San Francisco Office Amid Financial Struggles “PayPal shutters San Francisco offices, citing remote work amid financial hurdles.” (Bisnow)
- The Life and Death of the Original Micro-Apartments “With the Nakagin Capsule Tower, the architect Kisho Kurokawa had a prophetic vision of buildings and cities that prioritized mobility.” (The New Yorker)
- Glassdoor’s New S.F. Headquarters Had a Speakeasy and a Video Game Room. Will it Be Enough to Lure Back Remote Workers? “The speakeasy and game room are just some of the enticements for Glassdoor employees.” (San Francisco Chronicle)
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