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January 26, 2023

White House Proposes Blueprint For Renters Bill Of Rights, Aims To Promote Affordability

Nominate A Woman Leading Real Estate In The Chicago Market By Feb. 6

The Biden administration rolled out a series of actions Wednesday it says will help rein in high multifamily rents and otherwise protect renters.

Landlord organizations lambasted the plan, while affordable housing activists said it doesn't go nearly far enough to address escalating rents and a lack of affordability in housing.

White House Proposes Blueprint For Renters Bill Of Rights, Aims To Promote Affordability

“We are disappointed [the administration is] pursuing potentially duplicative and onerous regulations that are already appropriately addressed under state and local law,” the National Multifamily Housing Council said in a statement after the release of the plan, though it did acknowledge that the White House…

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Fund Manager Plans $500M Car Wash Real Estate Drive

A London-based fund manager has set up a new platform looking to profit from what it thinks is a fast-growing and overlooked real estate subsector: U.S. car washes. 

Henley Investment Management has created car wash brand AquaSonic and set up a team in St. Petersburg, Florida, to find sites to build and operate new car washes that are technologically innovative and environmentally friendly, taking advantage of a sector that is attracting growing interest from buyout firms.

Fund Manager Plans $500M Car Wash Real Estate Drive

Henley already has five sites, all in Florida, with a plan to have at least 20 by the end of the year. It ultimately hopes to build between 50 and 100 car washes, which would make it one of the biggest such owner-operators in the U.S.With a modern car wash…

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Kelli Carhart To Lead CBRE's U.S. Multifamily Business, A Milestone For The Industry

Kelli Carhart To Lead CBRE's U.S. Multifamily Business, A Milestone For The Industry  

CBRE promoted Kelli Carhart to executive managing director and leader of capital markets for multifamily properties in the U.S.  Carhart was previously head of multifamily debt production at CBRE. In her new role, she will steer the company’s multifamily business nationally, the…

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‘Insurers Have Left The State In Droves’ As Natural Disasters Take Toll On California Property

‘Insurers Have Left The State In Droves’ As Natural Disasters Take Toll On California Property  

California’s weather patterns over the last few years have seesawed between raging fires and torrential downpours, causing millions of dollars in property damage and making insurance companies reconsider their positions in the state, with at least one well-known company, Allstate, trying to press pause on new commercial policies.

Allstate last year sought approval from the California Department of Insurance to cease writing new business coverage in California entirely for the foreseeable future, a request the company confirmed to Bisnow but that the CDI has yet to approve. 

“Wildfires, more frequent and severe accidents, and inflation-juiced repair prices are causing insurance claim costs to soar in California without the premium to cover them,” an Allstate spokesperson said in a statement. “We’re pausing all new commercial insurance policies in California so we can continue to protect current customers.” Allstate…

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