'We've Got To Figure Out How To Turn That Around': Multifamily CEOs On The Industry's Image Problem

West Harbor, the redevelopment of the San Pedro waterfront, is now under construction, with construction financing from Parkview Financial and other sources. 

Parkview Financial provided the joint venture between The Ratkovich Co. and Jerico Development with a $35M senior construction loan for the 42-acre project. It also received $55M of Commercial Property Assessed Clean Energy, or C-PACE, financing and $65M of investor equity. SALES A 14K SF South Robertson office property sold…

Read Full Story

California ballots in this year’s election included a veritable feast of propositions, measures and proposals for various rules and regulations that touch real estate, not to mention a close race for mayor of Los Angeles and a not-so-close race for governor. With ballots in across most of the state,…

Read Full Story

In Case You Missed It...

This series gets into the heads of the decision-makers of CRE, the people shaping the industry by setting investment strategy, workplace design, diversity initiatives and more.

Paul Badger founded The Badger Group in Philadelphia in 1996 and has been an advocate for improved representation in commercial real estate for people of color ever since. For him, the increased focus the industry has had on that issue in the past two-plus years is validation that is no less sweet for being overdue.

One of the biggest improvements for representation in Philadelphia real estate has been the emphasis the city has placed on diverse representation in bids for major development projects.

The Badger Group has been a direct beneficiary of established companies looking around Philadelphia to bring in capable, experienced partners that also fulfill representation requirements. Before 2020, the company had already joined with The Goldenberg Group and HFZ Capital on complex projects in Center City and North Philadelphia, respectively. 

But the most recent partnership secured by The Badger Group could also be the most impactful: as an equity partner with The Durst Organization on the private development set to accompany the capping project on Interstate 95, which will create a new park between Walnut and Chestnut streets at the Penn's Landing portion of Philly's Delaware River waterfront.

The following has been lightly edited for clarity.

Bisnow: Baron Rothschild once said the “time to buy is when there’s blood in the streets.” Where is the blood today? Badger: Current efforts to curb inflation, high construction costs, and a tightening by the capital markets have now caused…

Read Full Story

A planned sale of the beleaguered Broadway Trade Center to an investor group led by Capri Capital's Quentin Primo has fallen through. Court documents filed in the bankruptcy proceedings surrounding the building show that co-owner Joel Schreiber entered into an agreement in late October to sell the 1M SF Downtown…

Read Full Story

Bisnow's audio series, Bisnow Reports, examines every facet of the international commercial real estate industry — from the murky future of retail and office to real estate’s reckoning with diversity to the effects of climate change on the built world, and so much more. You can subscribe on iTunes, Spotify and Amazon Music, or scroll down to listen in your browser.

After the events of the summer of 2020, Bisnow made a commitment to examine the racial and gender diversity — or lack thereof — at the top levels of commercial real estate. Nowhere else had definite, thorough data on the industry, which we felt we needed as many…

Read Full Story