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November 13, 2023

A Seismic Generational Shift Is Afoot Among New York's Real Estate Stalwarts

Ease 1345 To Host Tri-State Cannabis & Real Estate Conference Dec. 14

Major shake-ups in the C-suites of some of the biggest real estate firms in New York are reshaping the leadership landscape across the city as the industry grapples with a prolonged downturn and how best to prepare itself for the next chapter.

A Seismic Generational Shift Is Afoot Among New York's Real Estate Stalwarts

Commercial real estate is being buffeted by slow sales, soaring interest rates and recession fears. Plus, there are now wider existential questions about how workers will use the office long-term and what that will mean for the value of the buildings upon which many New York real estate dynasties built…

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Loan On Trump’s 40 Wall Sent To Special Servicing

Loan On Trump’s 40 Wall Sent To Special Servicing  

The mortgage on 40 Wall Street, one of the buildings at the center of former President Donald Trump’s civil fraud trial, is now in special servicing as it faces tumbling office occupancy. The CMBS loan, which has an outstanding balance of $122.6M, down from an original balance of…

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PODCAST: BMO Senior Analyst John Kim On When To Call The Bottom For REIT Stock Prices

PODCAST: BMO Senior Analyst John Kim On When To Call The Bottom For REIT Stock Prices  

The third quarter has brought more uncertainty, not less, for commercial real estate, and it has been reflected in the valuations of publicly traded property owners.  Real estate investment trusts have seen share prices pummeled this year, especially office REITs, which have reported sluggish leasing and higher operating costs during the recent earnings…

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The 'Godfather' Of Life Sciences Real Estate Faces The Sector's Sharpest Downturn Yet

The 'Godfather' Of Life Sciences Real Estate Faces The Sector's Sharpest Downturn Yet  

Joel Marcus walked into the Downtown Los Angeles office of investment giant AEW on Sept. 9, 1996, unsure how much longer his business would survive.

The co-founders of Alexandria Real Estate Equities were running out of money, and they were trying to pitch an idea that had no proof of success: building a company focused on owning lab properties and leasing them to firms in the emerging biotech industry.

Despite the potential upside of Marcus’ pitch — biotech was just beginning to address the thousands of known diseases with no cure — he was rejected by the first 29 investors.

Entering his 30th meeting, Marcus could tell co-founder Jerry Sudarsky was growing weary. But the Air Force veteran remembers feeling confident as he ran through his talking points. 

The pitch worked: AEW agreed to invest $27.5M in Alexandria's Series B round. After shaking hands and walking out of AEW's conference room, Marcus knew the firm would make it to the next stage of his grand plan: going public.  “That Series B was really the key,” he told Bisnow in…

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