Tenant Shifts Widen Rent Gap Between Boston’s New And Old Office Buildings

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Some of the biggest names in the real estate world on both sides of the Atlantic are gearing up for a very particular challenge: taking old office buildings that are big emitters of carbon, making them more energy efficient, and turning a profit in doing so. 

Fund managers like Tishman Speyer and Patrizia have raised money for brown to green strategies. Brookfield is taking private a listed German company at the forefront of making offices more sustainable. And UK REIT Great Portland Estates sees buying and improving stranded assets as a key pillar of its strategy going forward. 

“I’ve been doing this for 30 years, and it’s one of the most interesting moments of my career,” GPE chief executive Toby Courtauld said ahead of an appearance at Bisnow’s London Future of Office event on Thursday. 

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ATLANTA — As Atlanta's hoteliers struggle to get back to pre-pandemic levels of performance, developers are building among the most hotel rooms in the city's history.

The thousands of rooms in the pipeline show the confidence industry experts have in the future of the city's hospitality market, which hasn't seen a significant construction boom in over a decade.

“Atlanta has been very much behind the development progress we've seen in other cities. Atlanta's been a late bloomer,” Crown Hospitality Consulting Managing Principal Amanda Chivers said. “Now that we're kind of on the map and we have all this new inventory coming … we have to strengthen our [convention and visitor business] and make sure we're bringing a lot of new events to Atlanta.”

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LOS ANGELES — Multifamily rent regulation has picked up steam across the country over the past few years, and the pandemic has expanded the public’s desire and political will for tenant protection. Multifamily owners have been vocal in their concern about the impact these policies will have on their business and their ability to build housing.

A survey from the National Multifamily Housing Council from earlier this year found owners are actively avoiding markets with rent regulations or considering leaving markets that institute these rules.

But in California, rent capping and rent control laws at the state and local levels haven't made a big impact on multifamily lending, industry experts told Bisnow. Still, these and other regulations affecting multifamily developments, namely the still-active eviction moratorium in Los Angeles, have made some projects, such as value-add deals, harder to undertake. 

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