Construction Lenders Get Creative To Fund Projects, Reduce Risk During Labor Shortage
Rising construction costs and competition for high-quality labor have shifted how borrowers and lenders finance projects. While construction firms are focusing on retention and improved job safety, financiers and borrowers are shifting their efforts to accommodate the rising construction costs and to lock in quality labor.
Construction costs continue to rise each year. On an annual basis, labor costs are increasing by 1.9% to 2.9% while bulk materials are increasing by 4.7% to 5.7% annually, according to Compass International.
The Turner Building Cost Index, which considers labor…
Read Full Story
|
|
|
Top stories on Bisnow.com
|
More On the Construction Labor Shortage
|
|
|
|
A Positive Outlook For Multiple Sectors Is Driving CRE
Across sectors, the outlook is good for commercial real estate, though some cities and sectors are stronger than others. Some of the industry's power players recently shared their perspectives about the market.
It is nice to see that industrial, which has often taken a back seat to other sectors, is becoming the belle of the ball, CBRE Vice Chairman Darla Longo said.
E-commerce has made a big impact.
Longo is not predicting any type…
Read Full Story
|
|
|
Facebook Inks San Francisco's Largest Office Deal With Lease At 181 Fremont
Facebook will take the entire office space at 181 Fremont in what is being called San Francisco's largest lease in three years. The lease, which was rumored for months, was confirmed by Jay Paul Co. Chief Information Officer Matt Lituchy Wednesday, the San…
Read Full Story
|
|
|
Waymo Seeking Over $2B In Damages In Uber Lawsuit
Uber could be on the hook for billions if Waymo gets its way. Uber's lawyers revealed Wednesday that the Alphabet-owned company is seeking $2.6B in damages from one alleged trade secret theft, Reuters reports.
This would be the largest of…
Read Full Story
|
|
|
|
|
|
CMBS Issuances Skyrocket From No Deals In January To 335 In August
The rebound of CMBS issuances in the second half of 2017 compared to the beginning of the year is dramatic.
Lenders went from issuing no loans in January, to issuing 335 loans in August alone totaling $10.65B, according to data gathered by Trepp.
The CMBS market began the year with trepidation, with lenders treading lightly due to uncertainties surrounding risk retention rules enacted in December that require lenders to keep 5% of each loan on the books.
Click here to read the full story. |
6 Ways Hotel Companies Are Reinventing Their Product To Compete
The way people travel is changing.
Technology is not only shaping the way in which people share their experiences, it is also shaping where and how they do it. Home-sharing tech companies such as Airbnb have existed for less than a decade, but have managed to cause significant disruption in the hospitality industry. This disruption is forcing hotel companies to revamp the traditional model of doing business and to reinvent themselves to compete.
Here are six ways hotel brands are reinventing themselves to stay relevant during a time of tech dominance and intense competition.
Click here to read the full story. |
|
|
|
|
