'One Crisis After Another': How Covid Has Turned Affordable Housing Development Into A High-Wire Act

Ryan Millsap, the founder and former owner of Blackhall Studios, is looking to bring action and adventure to a sprawling site in Newton County roughly 40 miles east of Atlanta.

Millsap told Bisnow this week that he and a collection of investors have purchased 1,500 acres where they plan to develop a campus to film and produce content for his new action movie streaming service, Blackhall Americana. 

The property is ideal for films involving military vehicles, exotic equipment, explosions and gun battles, Millsap said — it is currently being used as a hunting ground, and its neighbors are used to gunshots. “This is the kind of space we need to fly in Blackhawk helicopters and drive Humvees at speed,”…

Read Full Story

The founder and chief executive of Tampa-based Franklin Street is passing the leadership baton to one of his executives as the full-service commercial real estate brokerage plans further expansion in the Sun Belt. Andrew Wright is stepping back from the top job…

Read Full Story

In Case You Missed It...

Days into Russia’s invasion of Ukraine, Daniel Gielchinsky, a Miami-area attorney and partner at DGIM Law, said he’s been noticing more Eastern Europeans gathering at delis in Sunny Isles, an enclave just north of Miami Beach that is sometimes called Little Moscow.

“Some of them very likely came with suitcases of cash,” Gielchinsky said. “They're here and they're buying condos.”

Real estate professionals in the Miami area — a haven for foreign investment — said they don’t expect the war to cool the market; if anything, it might get a bump.

Read the full story here.

There is no denying that the single-family rental market is having a serious moment.

Last December in the United States, rents for single-family homes jumped 12%, the biggest year-over-year increase in almost two decades. The sector is getting massive interest from investors: About 18% of all U.S. homes are sold to investors, up from 8% 13 years ago.

On this episode of Bisnow Reports, we’re hearing from Samatha Kempe, the co-founder and chief investment officer of IMMO Capital, a company that buys homes on behalf of large, professional investors and runs them.

Read the full story here.

This series gets into the heads of the decision-makers of CRE, the people shaping the industry by setting investment strategy, workplace design, diversity initiatives and more.

Robert Morgenstern wears many hats. He is the founder and strategic leader of Canvas Property Group, a property, construction and asset management firm with a portfolio of 40 mixed-use properties in New York City plus third-party management assignments. He is also the managing principal of Morgenstern Capital, where he leads multifamily acquisitions and operations. Since its founding in 2015, Morgenstern Capital has acquired approximately 1,500 units in New York City valued at $500M. He recently launched Juliet Technologies, a proptech firm for multifamily asset managers.

And then there's his chef hat — Morgenstern makes a killer kale and sausage Parmesan pizza for his family, if he does say so himself.

The following has been lightly edited for style and clarity.

Bisnow: Tell us about your leadership philosophy and what experiences, words of advice or mentors shaped it along the way.  Morgenstern: “Give a man a fish, he eats for a day, teach a man to fish, you’ll feed him for a lifetime.” This adage can be applied to anywhere in…

Read Full Story