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The Philadelphia-area industrial portfolio traded for $194.5 million with an 80% IRR.
GPT-4 to mount legal defense, says "of course I ate the Internet."
Amazon Web Services also is building $35B in new data center capacity in Virginia.
The growth of smart buildings and smart cities increases prospects for this product category.
Voters approved Measure H rent-control initiative in November.
However, the untested banks are the ones that much of CRE depends on.
Investment management firms and private equity are picking up the assets, but no word of what will happen in the future.
CoreLogic projects that home prices will average a 4% increase in 2023 compared with the previous year.
Top migration destinations are drought-stricken or common scenes of natural disasters.
Cap rates will likely continue to expand for the short term, peak later this year and normalize in 2024.