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Bisnow - (Almost) Never Boring
September 12, 2023

Meet The Man Trying To Stop London’s Biggest Office Market From Becoming Obsolete

Royal Institution Of Great Britain To Host Bisnow's Real Estate Outlook 12 October

Shravan Joshi has a number of problems to address, all of them interlinked, none of them easy: How much office space will the City of London need in the future? What will happen to obsolete offices? And how do you build an urban centre fit for the future without killing the planet? 

The City of London Planning and Transport Committee chairman last April took up the role of overseeing the development of the City, the UK’s largest single office market and the centre of its financial services industry.

His tenure began as the role of the office was in flux like never before. It also came as the world was waking up to the reality that the business model of knocking down buildings to develop something bigger and more valuable was emitting huge amounts of carbon. 

Meet The Man Trying To Stop London’s Biggest Office Market From Becoming Obsolete

The City of London Corp.’s planning division has come up with a number of key policies to attempt to balance economic and environmental sustainability on Joshi's watch, a priority in a district where 59% of jobs are office-based and risk is high as the way society works changes.If those policies work,…

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15 Years After Lehman Went Under, Its Real Estate Loan Book Still Isn’t Unwound

Friday marks the 15th anniversary of Lehman Brothers filing for bankruptcy.

But the event that rocked markets and set off a chain of events leading to the Global Financial Crisis still echoes: A trio of zombie loans written at the peak of the last boom remain undead. 

Three loans with €239M (£205M, $255M) outstanding that were written in 2007 remain in default more than eight years after they were due to be repaid. 

Lehman sold the loans to bondholders in 2007 in its scramble to offload real estate exposure as the financial crisis ramped up and values in the sector dropped. 

15 Years After Lehman Went Under, Its Real Estate Loan Book Still Isn’t Unwound

Commercial real estate played a major part in the collapse of the investment bank, which in turn caused a credit crunch that saw CRE values in the U.S. and Europe fall by as much as 45%. Before its collapse in 2008, Lehman had $33B of real estate assets on its balance…

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To Bridge Europe’s Refinancing Gap, Property Owners Should 'De-Risk' Their Assets

PRESENTED BY:   Hollis
 
To Bridge Europe’s Refinancing Gap, Property Owners Should 'De-Risk' Their Assets  

Across Europe, commercial real estate is facing a refinancing gap. Borrowers are facing high interest rates, and lenders are reducing the amount they are willing to lend.  To smooth the refinancing process, property owners should de-risk their portfolios by kick-starting technical due diligence early, Hollis Director…

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London-Based Investor To Build $1.6B U.S. And UK IOS Portfolio

London-Based Investor To Build $1.6B U.S. And UK IOS Portfolio  

A UK investment firm has raised £650M ($810M) of equity to build a £1.3B ($1.6B) U.S. and UK portfolio in the fast-growing industrial outdoor storage sector.  NW1 Partners, which counts blue-chip UK real estate investment firm Delancey among its corporate backers, has raised £550M…

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