The homosexual activist group becomes the latest nonprofit seeking to fund its own real estate in order to guard itself against rising rents. The group estimates it can save $15 million over 15 years this way.
The average rental rate now stands at $42/sf, up 7 percent in the first half of 2000, according to Delta Associates, a real estate research firm.
Charitable donations are up in the buoyant economy, encouraging nonprofits such as Chesapeake Bay Foundation and American Association of Medical Colleges to take this step.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
