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September 6, 2023

‘Adaptation Cost Of Anguish’: How Extreme Heat Is Slowing Down Construction

Hammes Partners Principal Justin Shea And Echo Real Estate Capital Principal John Boyajian Discuss Top Healthcare Financing And Investment Trends Sept. 26

The construction industry has pushed to adapt to extreme heat, but this summer has shown it can’t avoid the trade-offs of rising temperatures.

Firms have made investments to ensure worker safety and comfort while keeping projects moving during heat waves, but worker reps and experts studying heat impacts say decreased productivity will be a given going forward during an era of increasingly hot summers.

“I don’t have exact dollar amounts or time, but anybody who says this isn’t impacting them I would say is lying,” RSM construction analyst Nick Grandy said.

‘Adaptation Cost Of Anguish’: How Extreme Heat Is Slowing Down Construction

During extreme heat, construction activities involving physical work on average take 36% longer to execute, according to an exclusive analysis for Bisnow by nPlan, a British construction analytics and software firm that draws from a dataset of 750,000 projects from English-speaking countries around the world.“The question comes down to the human element,” said Jimmy Williams, general…

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FDIC Begins Marketing $33B Of Signature Bank's Real Estate Loans

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The official marketing process has begun on $33B of commercial real estate loans taken over by the Federal Deposit Insurance Corp. after the failure of New York lender Signature Bank in March.The FDIC announced Tuesday that it had begun the official marketing process for Signature Bank loans…

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Firm That Raised Largest-Ever Self-Storage Investment Fund Fined $20.5M By SEC

A private equity firm with billions of dollars worth of self-storage properties under management has agreed to pay more than $20M in penalties after the Securities and Exchange Commission said it failed to disclose that the brokerage firm it used to source deals was owned by the investment shop’s CEO.

Firm That Raised Largest-Ever Self-Storage Investment Fund Fined $20.5M By SEC

Saratoga Springs, New York-based Prime Group Holdings LLC has agreed to pay the SEC a $6.5M civil penalty and repay investors $14M in disgorgement and interest charges. The case stems from Prime Group using a brokerage firm owned by its CEO, Robert Moser, and made up of independent contractors and its…

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Century Plaza Investor Sues Mezzanine Lender

Century Plaza Investor Sues Mezzanine Lender  

An investor in the Century City hotel, residential and retail project Century Plaza has filed a lawsuit against a mezzanine lender on the $2.5B project. Investor Urbanite Capital’s complaint alleges that DigitalBridge Group, formerly known as Colony Capital, didn't disclose it had a restructuring agreement with…

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