Month: September 2020

Slowly but surely, the movers and shakers are dribbling back from their Hamptons and Connecticut basements to their office desks. The question is how much longer it will take for the rank-and-file to follow. The latest two Wall Street companies returning high-level staffers to their Midtown digs are investment- banking advisory firm Evercore and P.

Following the second wave of COVID-19 infections in July, many universities revised re-opening plans an implemented online education through the fall. Online education, however, has not had a significant impact on student housing collections or leasing activity. Student housing owner and operator Pierce Education Properties reports 97% rent collections since the beginning of classes in

Despite COVID-19 woes, the appeal of L.A.’s posh Pacific Palisades neighborhood to the exceptionally well-heeled has not been dimmed. The area saw one of its biggest sales of the year close earlier this month, when a sumptuous estate in the Riviera enclave transferred for nearly $20 million in cash. Property records indicate the buyers are

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Retailers have struggled to pay rent through the pandemic, and as a result, the retail market has been among the sectors with the lowest rent collections in the commercial real estate. In June, one-third of retail tenants had paid 75% of rent, but in July, that number doubled, with two-thirds of retailers paying only 65%

First comes love, then comes marriage, then comes baby in the baby carriage. But when it’s three babies, you’re gonna need a larger home. John Legend, 41, and Chrissy Teigen, 34, who are expecting their third child — a boy — have just bought a nearly 11,000-square-foot home in Beverly Hills for $17.5 million, the

Restaurant traffic and sales improved in August. While spending continues to trend behind pre-pandemic levels, the rate of both traffic and spending declines eased in August, according to data from The NPD Group. During the month of August, traffic declines eased to -10% and sales traffic declines eased to -9% year-over-year. The re-opening of restaurants

Summer 2020 has officially slipped away, but at least Armie Hammer is closing the season out with a residential bang. The Golden Globe-nominated actor (“Call Me By Your Name,” “The Man From U.N.C.L.E.,” “The Lone Ranger,” “The Social Network”) has punted his historic Los Angeles house onto the market, where it’s landed with a $5.8

Since March, more and more people are visiting their doctor remotely via video calls. Even before COVID-19, telehealth had grown dramatically, experiencing a 1202% increase in usage from 2012 to 2017, according to new research from Colliers International. But since 2020 these remote doctors’ visits have grown exponentially. The Advisory Board estimates that there will

As other segments of the economy have suffered in 2020, life sciences are emerging as a bright spot.  Private investors have put more than $16 billion to work in life sciences in the first half of 2020, while the National Institutes of Health continues to up its grant volume. In 1994, NIH gave out $11

It’s a no-frills, small-town motel that a family moves into after losing their wealth — and soon, this television-famous property can be your own. The property that plays the role of the Rosebud Motel on the popular Canadian series “Schitt’s Creek,” which swept the 2020 Emmys on Sunday with a record-breaking nine prizes for the

Colony Capital has entered into a definitive agreement to sell six of its hospitality portfolios to Highgate in a deal valued at $2.8 billion, including $67.5 million of gross proceeds on a consolidated basis and the assumption of $2.7 billion in debt. The six portfolios consist of 22,676 rooms across 197 hotel properties. The transaction