Backers for the 5 Times Square loan, which runs through May 2026, include Morgan Stanley, Apollo Global Management Inc. and American International Group Inc. RXR and its partners have invested another $300 million to help renovate the site.
Rising labor and materials costs coupled with more expensive debt due to rising interest rates are combining to cut into yields on multifamily development projects.
Demand for space in the skyscraper and across Dubai is surging as the emirate attracts more wealth and expats due to its nimble response to the pandemic and relatively easy access to visas.
“Just-in-case” inventory storage is leaving retailers with excess inventory and little space to store it. But it’s not likely to go away, industry insiders say.
CVS is acquiring Signify for $30.50 a share in an all-cash deal, according to a statement Monday.
The harsh reality is that the long-term trend has been intense competition putting deflationary pressure on rents.
The industrial development pipeline is at its highest level in years. But developers are facing a host of new challenges.
