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May 18, 2023

Energy Remains King Of Houston’s Office Market, Starts Signing Big Leases Again

What Attracted Tesla To Empire West? Hear From Stream’s Justin Robinson June 1

Like every office market, Houston has seen its share of fallout from the coronavirus pandemic. But more than any other metro in the country, the city's fortunes are tied to the energy industry, and right now, that is a good thing.

Energy Remains King Of Houston’s Office Market, Starts Signing Big Leases Again

Despite a push toward decarbonization and renewable energy and trends from rightsizing to the flight to quality and hybrid work, energy companies make up the largest proportion of activity in Houston’s office market, propping up a significant amount of its newer…

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Sam Zell Dies At 81

Sam Zell Dies At 81  

Sam Zell, the legendary investor who pioneered the modern real estate investment trust and has been a leading voice in commercial real estate for decades, has died. He was 81. 

The multifamily REIT he founded, Equity Residential, announced Zell's death in a press release Thursday. The company said Zell died at home due to complications from a recent illness. Equity's board has appointed David J. Neithercut, its former CEO and a board member since 2006, to…

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Domestic Violence Allegations Emerge As Patrick Carroll Pushes To Sell His Apartment Empire

Domestic Violence Allegations Emerge As Patrick Carroll Pushes To Sell His Apartment Empire  

Carroll CEO M. Patrick Carroll has deeper legal issues — and more run-ins with law enforcement and the judicial system — than previously reported, according to a news investigation published over the weekend.

The Daily Beast published a report late Friday that revealed Carroll had been ordered to stay away from his ex-wife after being accused of domestic violence and stalking, posted homophobic and graphic content to social media, and was arrested for driving while intoxicated.

These court records were also obtained and corroborated by Bisnow.

The investigation was published a month after Carroll was caught on video appearing to spit in the face of a restaurant employee in Miami, as The Real Deal reported. The revelations come at a precarious time for Carroll: The developer has been attempting to sell all…

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Texas Sues Hyatt, Settles With Marriott Over Use Of Hidden Fees

Texas Sues Hyatt, Settles With Marriott Over Use Of Hidden Fees  

The state of Texas is going after two of the nation’s largest hotel operators for allegedly duping customers into booking rooms with hidden fees.

Hyatt Hotels and Marriott International are the latest targets of state Attorney General Ken Paxton’s campaign for price transparency. Both companies have been accused of violating Texas’ consumer protection laws by misrepresenting room rates and preventing customers from shopping for the best deal.

In a lawsuit filed earlier this week, the state accused Hyatt of marketing hotel rooms at prices that don’t clearly disclose fees. The practice has resulted in millions of dollars in fraudulent charges, the lawsuit alleges. “These deceptive practices enabled Hyatt to advertise lodging at artificially low rates,…

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