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June 13, 2024

Bears QB Caleb Williams Launches Investment Firm Targeting Real Estate, Private Equity

Chicago Bears quarterback Caleb Williams, the 2024 No. 1 overall pick, will have to wait until the fall to start slinging the pigskin to D.J. Moore and Keenan Allen, but he's already going for two off the field with the formation of a new investment firm, 888 Midas. 

Bears QB Caleb Williams Launches Investment Firm Targeting Real Estate, Private Equity

The firm aims to invest in real estate, private equity and venture capital, according to a press release.Williams' partners and advisers in the firm include Lew Wolff, chairman of Wolff Urban and former co-owner and managing partner of the Oakland Athletics, and…

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Foreign Investment In U.S. CRE Tumbles To Lowest Point Since 2011

Interest from international investors in commercial real estate assets in the U.S. fell by almost half in just one year, as the slump in prices and transaction activity has taken its toll on cross-border investment.

Foreign Investment In U.S. CRE Tumbles To Lowest Point Since 2011

Foreign investors spent $14B on U.S. commercial properties in the first three months of the year, according to MSCI Real Assets data provided to Bisnow, down from $27.7B in the first quarter of 2023. The last time international investors spent that little money on U.S. CRE was Q3 2011.The…

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Shorenstein Under Duress With Troubled Debt Approaching $1B

Shorenstein Under Duress With Troubled Debt Approaching $1B  

Shorenstein Properties has been a fixture in the skylines of cities across the country for decades. But now, some of the office towers that created the Shorenstein family's legacy are beset by problems.

Last week, Shorenstein was forced to surrender ownership of Capella Tower to lender Metropolitan Life Insurance after failing to find a suitable buyer for the second-tallest tower in downtown Minneapolis.

That building is just the tip of the iceberg. The San Francisco-based firm has another $822M in defaulted or at-risk debt tied to large office properties from coast to coast, according to a Bisnow analysis of the Morningstar Credit securitized loan database.

Shorenstein, run by third-generation CEO Brandon Shorenstein, has acquired $19B in assets since 1992, according to the company's website. The family has long been considered real estate royalty. In the mid-1980s, it controlled 25% of San Francisco's Class-A office space, according to SF Gate. The real estate dynasty has been…

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Blackstone To Expand Manhattan Headquarters To Over 1M SF

Blackstone To Expand Manhattan Headquarters To Over 1M SF  

The world's largest owner of commercial real estate is getting ready to take more space for its own workers. Blackstone is finalizing a deal to expand its headquarters at Rudin’s 345 Park Ave. from 750K SF to just over 1M SF, one of the largest office leases…

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