The LA Deal Sheet
Just added: Hear from John Klein from Equinox on what successful experiential tenants want at Retail West Sept. 26.
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The nonprofit Menorah Housing Foundation has been chosen to manage and operate the affordable senior housing component of MP Los Angeles' $1B Hollywood Center.
Menorah Housing will oversee leasing, management and day-to-day operations of the 133 designated affordable units designed for extremely low and very-low-income seniors.
“We are thankful for the opportunity to partner with MP Los Angeles on this important project,” Menorah Housing…
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Top stories on Bisnow.com
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These California Bills Could Improve The Housing Crisis
California's housing crisis is impacting just about every demographic from students to seniors. To address the challenges Californians are facing, the state legislature has been working on several bills to help ease regulatory burdens that have stalled many developments or provide new rules to increase housing production.
“It's starting to sink in that California has a devastating housing crisis,” Bay Area Council President and CEO Jim Wunderman said in a statement. “While this represents a good step forward in addressing a problem that is hurting millions of Californians and threatening our economy, we really need a big leap forward to remove the myriad regulatory and other barriers that are a huge obstacle to building the millions of new housing units we need. We're not done, yet.”
Check out some of the bills that may have a significant impact below:
SB 1227 (Student Housing)
SB 1227 would allow student housing projects to receive a 35% density bonus as long as all of the units were dedicated to students and 20% were dedicated to very-low-income students and students experiencing homelessness as a priority.
“College students…
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Where Are They Now? The Sites Damaged On 9/11 And What's Been Built Since
Seventeen years ago, Lower Manhattan was hit with the deadliest attack on U.S. soil in history, one that has left permanent emotional and physical scars on New York City and its inhabitants; on Monday, the subway stop that was destroyed in the attacks finally reopened.
Despite the wreckage of that day, the World Trade Center has been almost entirely rebuilt, and the area has transformed from an office-only mecca to a vibrant neighborhood where New Yorkers work, shop and live.
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REITs Rebound, With Some Niche Categories Leading The Charge
REITs began 2018 under a cloud of trepidation regarding rising interest rates, but the industry is now seeing a rebound in select sectors.
Property types regarded as niche plays, such as data centers and cellphone towers, are performing particularly well, alongside more traditional sectors like hotel and lodging.
Though the overall impact of higher interest rates hasn't been too dramatic, investors' irrational fear of rate hikes coupled with an increased appetite for high-yielding tech stocks has fueled REITs' underperformance much of the year.
The S&P United States REIT Index, which began 2018 at 313.62,…
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Developers Aren't Sweating The Drying Up Of Foreign Capital In U.S. Real Estate
Commercial real estate is riding a wave of economic expansion, but, even though a familiar source of capital has receded, U.S. developers aren't ready to hit the panic button.
Chinese investors, a driver of U.S. trophy asset pricing in recent years, reversed course in Q2 and became a net seller for the first quarter since 2008. The investor bloc sold nearly $1.3B in U.S. assets while only buying $126M during the time frame. Even though the group appears to be retreating, developers say foreign investment still wants to be in the U.S.
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Beyond The Bio: 16 Questions With Lendlease Americas General Manager Of Development Nicholas Iselin
This series profiles men and women in commercial real estate who have profoundly transformed our neighborhoods and reshaped our cities, businesses and lifestyles.
Lendlease may have Australian roots, but with its eyes set on the U.S. for growth, one Bostonian is making it happen.
Lendlease Americas General Manager of Development Nicholas Iselin joined the company in 2014 as it continued to expand its U.S. development pipeline. The developer has provided construction management services for a variety of high-profile projects, including the Time Warner Center in New York City and Hines' 33 Tehama residential tower in San Francisco. The company is now pursuing its own developments in U.S. gateway cities. Lendlease today has a $15.7B urban regeneration development pipeline, including the projects Iselin oversees.
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