In Tightening Market, Florida Developers
Turn To Private Lenders
Six months ago, EDEN Multifamily President and CEO Jay Jacobson would have surveyed the strong South Florida market, checked his costs and said that everything was going swimmingly.
“Monday, I had an update with the contractor building our high-rise in Fort Lauderdale on pricing,” he said this morning during a Bisnow event at the W Hotel. “It's mind-boggling, what is starting to happen.”
Several developers agreed construction costs are getting higher, capital is getting harder to come by and profits are getting squeezed. In turn, developers are turning to private equity and high net worth families for investment while housing costs keep rising.…
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Facing Competition And $250M Expansion, Stand-Alone Florida Hospital Seeks To Join Health System
Boca Raton Regional Hospital was built in 1967 after two neighborhood children were poisoned, and, because medical attention was 30 minutes away, died. Over the years, the stand-alone facility built a solid reputation and soldiered on by itself while other healthcare facilities consolidated around it.
Last summer, acknowledging the challenges in an increasingly competitive healthcare industry, the hospital formed a steering committee and announced that it, too, wanted to partner up with a health system. It sent out a request for proposals. Twelve systems responded.…
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Blackstone REIT Acquires Canyon Industrial Portfolio In $1.8B Deal
The Canyon Industrial Portfolio includes 146 last-mile warehouse and distribution centers in major metros such as Chicago, Dallas, Baltimore, Washington, D.C., Los Angeles, and South and Central Florida. Current tenants include a strong mix of companies like e-commerce giant Amazon, FedEx, DHL,…
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Online Marketplaces Bring Faster Close Rates As Well As A Stigma
As commercial real estate tech startups storm the market at an increasingly rapid pace, investment sales brokers are looking to online marketplaces to help close more deals, faster.
But industrywide adoption is proving difficult.
While companies like Zillow, CoStar-owned LoopNet, Ten-X and New York City's StreetEasy can help brokers close more deals, there are perceived downsides to using the platforms.
For one, the trading of commercial property is still largely viewed as a hands-on business, sources told Bisnow.
"From a macro perspective, [the] real estate brokerage is still an analog business in a digital world. I think clearly brokers are using technology, but technology has not been a disrupter yet,” Cushman & Wakefield Chairman of New York Investment Sales Bob Knakal said.
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Beyond The Bio: 16 Questions With CBT Architects Principal Lois Goodell
This series profiles men and women in commercial real estate who have profoundly transformed our neighborhoods and reshaped our cities, businesses and lifestyles.
Lois Goodell has more than 30 years of professional experience in the interior design and planning of a variety of workplace, higher education, retail and mixed-use spaces. As CBT's director of interior design and leader of the firm's Workplace Strategy Group, Goodell plays an active leadership role in design, management and development.
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Shifting Strategies: Multifamily Investors Adjust To Sector Slowdown, Mature Cycle
Investor confidence in the stability of the multifamily sector this year remains strong, despite robust new supply levels and concerns regarding rising inflation and aggressive interest rate hikes.
As the cycle continues to mature, investors are shifting their investment strategies to focus less on appreciation to generate crazy returns, and more on stability and betting on assets that will generate steady cash flow.
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