Northrop Grumman has renewed its lease for a 168,072-square-foot office and research and development campus near San Diego, Southern California, underscoring the region's resurgence as a hub for aerospace and defense industries. Other companies like Anduril Industries, Trio Manufacturing, Flightwave Aerospace, and Heart Aerospace are also expanding or establishing significant presences in Southern California, particularly in Los Angeles County's South Bay and Orange County, with plans for large mixed-use campuses and increased industrial space.

AvalonBay, a major multifamily REIT, reported strong fourth-quarter 2025 financial results with increased core funds from operations and low turnover rates, driven by sustained demand despite rising multifamily supply. The company is optimistic about 2026, expecting modest revenue growth and continued demand supported by job growth. AvalonBay is actively developing and acquiring apartment units across several states, including Texas, New Jersey, California, Massachusetts, Maryland, and Florida, and declared a dividend for the first quarter of 2026.

Store Capital, a real estate investment trust specializing in single tenant operational real estate, recently acquired multiple private school buildings, including a $103 million office campus in Tysons, Virginia, and other properties in California. These acquisitions involve leasing the properties back to educational tenants such as Basis Independent Schools and Stratford School, reflecting Store Capital's niche in buying properties with one tenant and leasing them back. The Virginia property was purchased at a significant premium compared to its assessed value, while the California deals varied in price relative to previous sales and assessments.

Cushman & Wakefield has appointed Damla Gerhart as the new executive regional director for the Midwest, overseeing the Chicago operation and several other key cities including Cincinnati, Columbus, Detroit, Indianapolis, Kansas City, Minneapolis, and St. Louis. Gerhart succeeds Vicki Noonan, who is retiring after nearly a decade leading the Chicago market. This leadership change comes amid a challenging period for office leasing and investment sales in the region, with Cushman maintaining a significant presence in the Midwest market.

Kristen Stewart, a Hollywood actor and native of Los Angeles, purchased the century-old Highland Theatre in Highland Park, California, to prevent its permanent closure and plans to restore the historic movie palace. The theater, designed by Lewis Arthur Smith, requires significant renovation to revive its original charm and serve as a cultural hub for the local film community. Stewart's acquisition reflects a desire to preserve art spaces amid increasing commercialization and technological changes in the entertainment industry.

Investor Joey Columbo strategically acquired 42% of the Southbridge Condominium units in West Palm Beach, Florida, between 2021 and 2023, anticipating a redevelopment opportunity. He purchased units at an average price of $202,000 each, later selling them at a significant profit to developer Steve Ross, who has since acquired a majority of the building's 63 units for approximately $37 million. Ross, a prominent developer in West Palm Beach, is expected to redevelop the waterfront property targeting the luxury market, capitalizing on its prime location near Mar-a-Lago and the Intracoastal Waterway.

The $10.9 billion merger between Comerica and Fifth Third has closed, creating the ninth-largest U.S. bank. The combined company will continue operating under both names during a systems conversion expected around Labor Day. Comerica's lease on the 60-story Comerica Bank Tower in downtown Dallas, Texas, remains through 2028, with no immediate plans to break the lease despite potential redevelopment discussions. The tower, sold in 2024, is managed by Stream Realty, which has proposed adding hotel and residential components. Comerica also maintains a Business and Innovation Hub in Frisco, Texas, and Dallas-Fort Worth will remain a major employment hub for the merged bank.

StoneX, a global financial services firm, has expanded its office space at RXR's 230 Park Avenue in Midtown Manhattan, New York City, by 21,904 square feet on the 32nd floor, increasing its total footprint in the building to 94,742 square feet. The 10-year lease for the new space was secured at an asking rent of $120 per square foot. The building, also known as the Helmsley Building, is a 35-story Beaux Arts office tower near Grand Central Terminal, housing other office tenants such as Banco de la Nación Argentina, Apple Tree Partners, and Teitler & Teitler law firm.

Northtree Investment Management is raising £300M for its second UK real estate fund focused on value-add and opportunistic assets, following a £75M raise from an international investor. Their first fund targeted urban logistics and regional offices, with a recent joint venture acquiring multiple urban logistics assets. Separately, Newcore Capital closed a £375M core-plus income fund investing in UK social infrastructure real estate, including healthcare centers, service areas, nurseries, and waste management sites, targeting net returns of 9% to 11%.

The Bay Area, particularly Silicon Valley and San Francisco, has seen significant growth in Class A office leasing driven by the booming artificial intelligence industry. Major AI and tech companies like OpenAI, Anthropic, and Databricks have expanded their office footprints, contributing to millions of square feet leased despite high vacancy rates. The demand is focused on premium, centrally located office buildings, with leasing activity favoring high-end properties near transit and amenities. This trend reflects a national pattern of expansions in top-tier office spaces, with new construction slowing and competition for existing inventory increasing.

Ryan, a Plano-based global tax services and software provider, has acquired Meritax Advisors, a Texas commercial property tax consulting firm, to enhance its property tax valuation, litigation management, and portfolio advisory services. The merger strengthens Ryan's presence in Texas and nationally, leveraging technology and analytics to better serve clients with large portfolios. The article also highlights the Dallas-Fort Worth area's prominence in commercial real estate and recent related acquisitions.

Cushman & Wakefield has appointed Damla Gerhart as the new executive regional director for its Midwest region, overseeing operations and growth in key cities including Chicago, Cincinnati, Columbus, Detroit, Indianapolis, Kansas City, Minneapolis, and St. Louis. Gerhart brings two decades of commercial real estate experience from top firms and will lead client service, talent development, and business collaboration. The company is experiencing strong financial growth, with increased earnings guidance and revenue driven primarily by office and industrial leasing in the Americas, signaling continued momentum and expansion in 2025.

Torose Equities and Sabal Investment Holdings sold a fully leased, seven-story boutique office building in Miami's Coconut Grove neighborhood for $61 million to Azora Private. The 68,031-square-foot property, completed in 2019, houses office tenants such as Ridgeback Biotherapeutics and Longpoint Realty Partners, with restaurants on the ground floor and rooftop. The sale adds to Azora Private's growing office portfolio in Coconut Grove, a highly sought-after area for executives seeking proximity to work and residence.

Josh Giddey, Chicago Bulls guard, purchased a renovated five-bedroom townhome in the River North neighborhood of Chicago for just under $4.5 million. The 7,800-square-foot, four-story townhouse features luxury amenities including an elevator, heated floors, a Tesla charger in the garage, and multiple terraces. The property was bought through a land trust shortly after Giddey signed a $100 million contract extension. The sellers had previously renovated the home and moved nearby.

Manhattan's retail market, particularly in SoHo's Broadway corridor, is experiencing a significant increase in rents and decreasing vacancies, reaching near decade-high levels despite a cooling national economy. Key retail districts such as Madison Avenue, Flatiron District, Fifth Avenue, and West Village are also seeing strong demand driven by luxury brands and diverse tenants in food, beverage, fitness, and fashion sectors. However, some areas like Midtown's upper Fifth Avenue, Financial District, Herald Square, and Times Square face higher vacancies and declining rents. Major leases include large spaces for hospitality and health clubs, indicating continued investment in Manhattan's retail sector.

Brookfield is refinancing its 44-story, 2.4 million-square-foot office tower at 225 Liberty Street in lower Manhattan with an $800 million CMBS loan, contributing $173 million in fresh equity. The loan replaces a $900 million CMBS loan from 2016 with a higher interest rate reflecting current market conditions. The building is about 90% leased, with Brookfield Properties as the largest tenant. The refinancing follows an extension of the ground lease for the entire Brookfield Place complex through 2119. Brookfield Place, originally developed as the World Financial Center, includes multiple office towers and retail space and is valued at $4 billion within Brookfield's portfolio.

Michael Colacino, a seasoned brokerage executive, resigned from his role as CEO of JLL’s Americas Leasing Advisory segment shortly after being promoted. His departure follows a career spanning leadership roles at JLL, SquareFoot, and Savills. Karen Brennan has assumed the Americas leasing leadership role, aiming to build on existing momentum. Joseph Caridi has also joined JLL to oversee Tri-State operations, reflecting ongoing leadership reshuffling among major brokerages in key U.S. markets.

Oliver Carr Jr.'s CarrAmerica secured a $99 million refinancing loan for the InterContinental Washington D.C. — The Wharf hotel, a 278-key property in Southwest D.C. CarrAmerica, with a legacy tied to the District, owns $1.4 billion in assets including hotels like the Hotel Indigo Old Town Alexandria, which recently received a $31 million refinancing. CarrAmerica was originally founded as a REIT in 1993, sold to Blackstone in 2006, and rebranded in 2024.

Bedrock Robotics, a San Francisco-based startup using artificial intelligence to automate construction vehicles, raised $270 million in funding to accelerate building processes such as excavation and demolition. The company aims to enable 24-hour construction, particularly for factories and data centers, by integrating its technology with existing equipment. Austin-based Champion Site Prep is piloting the technology, which still requires human supervision. The proptech sector saw a significant funding increase in 2024, with $16 billion raised overall.

The article discusses a $167 million alleged loan default involving a 1.1 million-square-foot office tower at 300 South Riverside Plaza in Chicago, highlighting the risks of bifurcated ownership models that separate land and building ownership. The ground lease owners, including firms led by David Werner and Joseph Mizrachi, have stopped making payments, triggering defaults for the ground landlords. Despite this, Werner continues to acquire distressed office properties in Chicago and New York at significant discounts and is involved in large office-to-residential conversion projects. Mizrachi is also pursuing new office development in Chicago's West Loop. The situation underscores the volatility in the office market amid tenant departures and high interest rates.

The article analyzes the New York City multifamily real estate market in the fourth quarter of 2025, highlighting a significant increase in transaction volume and unit sales despite a decline in total dollar volume due to fewer large institutional deals. It emphasizes that deal velocity is a leading indicator of market recovery, with institutional and foreign capital returning to the market, signaling renewed confidence and repricing rather than weakness. The market is in the early phase of recovery, with constrained supply, stable rental fundamentals, and regulatory clarity supporting future growth and cap rate compression expected in 2026.

JPMorgan Chase is expanding its office footprint in Manhattan, New York, with significant lease increases at 5 Manhattan West and 390 Madison Avenue, while also renovating and renewing leases at other Midtown locations. This expansion occurs alongside the opening of its new headquarters at 270 Park Avenue, creating a JPMorgan-centric neighborhood. Other tenants at 5 Manhattan West include Amazon, Noom, and Whole Foods, highlighting the building's mixed-use nature.

KKR reported a record year in 2025 with assets under management reaching $744 billion, a 17% increase year-over-year, driven by strong capital raising and strategic portfolio management. Commercial real estate investments make up 14% of its assets, and infrastructure investments have grown significantly. The firm also announced a $1.4 billion acquisition to expand its stadium-adjacent real estate business. Despite recent stock volatility, KKR views the market reaction as an opportunity for long-term investors.

The U.S. rental market is undergoing a structural shift with multifamily buildings surpassing single-family rentals as the dominant rental housing type, driven by urban development and changing consumer preferences. Multifamily now accounts for about 33% of rental stock, while single-family rentals have declined to 31%, though single-family rent growth often outpaces multifamily, especially in suburban and secondary markets. The single-family rental sector remains largely fragmented with many small-scale landlords, presenting opportunities for operational efficiencies. This diversification reflects a permanent expansion of the rental economy, supporting households priced out of homeownership and emphasizing lifestyle choices over financial status.

Oak Row Equities, L&L Holding Company, and partners secured a $335 million refinancing for Wynwood Plaza, a mixed-use office and multifamily complex in Miami, Florida. The project includes a 12-story office building and a 12-story apartment building with 509 units. The refinancing replaces a $215 million construction loan and supports leasing costs. Major tenants include Amazon and Claure Group, with retail offerings such as Luca Steak restaurant. Oak Row is also developing additional multifamily projects in Miami. Other recent multifamily refinancing deals in Miami-Dade County were also noted.

The article highlights notable real estate transactions in South Florida, including high-value residential home sales in Wellington and Boca Raton, as well as commercial property deals in Miami Beach and North Bay Village. Key sales include a $16.3 million mansion estate, a $13.5 million waterfront home, a $11.8 million retail property, and a $10.5 million multifamily complex. These transactions reflect significant activity in both residential and commercial sectors within Florida.

Several significant retail property transactions have occurred in Orange County, California, including the $151 million sale of Seacliff Village retail plaza in Huntington Beach and other deals involving shopping centers and retail portfolios. Investors are also pursuing retail redevelopment, such as the planned mixed-use complex anchored by Costco in Brea. These activities highlight the strong demand and investment interest in Orange County retail real estate.

The article discusses the implementation of good cause eviction laws in upstate New York, particularly in the city of Troy, where the newly Democratic-controlled City Council is considering the policy. Good cause eviction requires landlords to renew leases for tenants not behind on rent and justifies rent increases above certain thresholds. The law aims to protect tenants from eviction without cause but has drawbacks such as deterring rental development and complicating building renovations. The article also notes that the policy's adoption should be based on its merits rather than election outcomes, and highlights the broader political context influencing local elections.

Texas homebuyers are benefiting from significant discounts, with about 75% of homes in major Texas cities selling below asking price in 2025. Austin leads the state with over 82% of homes sold below list price, followed by Dallas, Houston, and Fort Worth. This trend reflects a shift from the pandemic-era housing boom to increased inventory and price adjustments, especially in outlying areas like Williamson and Denton counties. Despite declines in some suburbs, core city markets like Austin and the Dallas/Fort Worth Metroplex remain relatively stable in median sale prices.

Khosla Capital secured a $96 million Freddie Mac-backed loan to refinance Prospect Place, a luxury 360-unit multifamily residential complex in Hackensack, New Jersey. The property consists of two buildings with extensive amenities and was acquired from Kushner Companies, which had completed significant renovations prior to the sale. The refinancing supports Khosla Capital's investment in enhancing the resident experience at the community.

OpenAI is significantly expanding its office space in the Seattle area, specifically in downtown Bellevue, by adding approximately 223,130 square feet to its existing 69,000 square feet at City Center Plaza. The company will occupy 11 of the 26 floors in the building, becoming the anchor tenant. This expansion is part of OpenAI's broader growth on the West Coast, including large subleases in San Francisco and Mountain View. Bellevue's office market is benefiting from this demand, with rents higher than the rest of the Seattle metro area and a decreasing vacancy rate.

Senator Brian Kavanagh of New York announced he will not seek reelection, leaving his seat and role as chair of the Senate Committee on Housing, Construction and Community Development open. His tenure included significant housing legislation such as the Housing Stability and Tenant Protection Act of 2019. Potential successors are already emerging, with the real estate industry closely watching for the new chair's approach to housing policy. Additionally, New York officials are exploring new housing opportunities through city-owned sites and rezonings. Recent notable real estate transactions in New York include a $10.8 million co-op sale, a $13 million industrial building sale, and a $15 million condominium listing, alongside a large new mixed-use development permit filing.

In New York City, multiple significant real estate transactions were recorded, including the sale of two commercial units in a mixed-use building in Queens for $5.8 million, a residential co-op unit on the Upper East Side for $10.8 million, a condo in Tribeca for $5.7 million, a single-family home on the Upper West Side for $5.5 million, and a condo at The Plaza for $5.3 million. These transactions highlight activity in both commercial and various residential property types across the city.

Paragon Commercial Group, a Southern California-based retail investor, is expanding its focus from value-add retail properties to include core and core-plus retail assets, driven by strong market fundamentals and increased investor interest. The company aims to capitalize on robust retail investment sales, rising demand for necessity-based open-air shopping centers, and tight availability with increasing rents. Paragon plans to broaden its acquisition strategy beyond Southern California to other West Coast and Western markets with similar characteristics.

Miami's commercial real estate market saw a significant rebound in 2025 with $9 billion in transactions, a 35% increase from 2024. Multifamily and retail sales nearly doubled, driven by easing interest rates and increased private investor activity. While Miami office sales declined slightly, the broader South Florida office market, including Broward and Palm Beach counties, experienced a 26% increase in investment volume. The market outlook remains positive with continued investor confidence and expected growth into 2026.

Greater Boston remains a highly attractive market for multifamily investment despite increasing supply and slowing rent growth, with rents expected to rise 2.2% in 2025 and vacancy rates increasing slightly. However, a rent control ballot measure in November could significantly impact investment decisions, potentially causing developers to pause or exit the market. The initiative would limit annual rent increases but exempts owner-occupied buildings with four or fewer units and new multifamily housing within the first 10 years. Despite some population loss, Boston's quality of life and job growth continue to drive demand for rental housing, though economic uncertainty and high interest rates are expected to reduce new construction in 2026.

Virginia and Pennsylvania are considering new regulations to manage the rapid growth of data centers, focusing on environmental impact, energy consumption, and electricity costs. Virginia lawmakers have introduced numerous bills including moratoriums and stricter local controls, while Pennsylvania's governor proposed a framework requiring hyperscale data centers to provide their own power and fund new generation to avoid burdening the grid. Both states aim to balance economic benefits with community and environmental concerns amid rising opposition to data center expansion.

Brookfield Corp. is refinancing its valuable office property at 225 Liberty St. in New York City with an $800 million CMBS loan and $172.5 million in cash equity. The 44-story office tower, part of the Brookfield Place complex near the World Trade Center, is 90.1% leased but includes a delinquent lease from Saks Global. The refinancing follows Brookfield extending its ground lease for the entire complex until 2119. Brookfield also holds other major Manhattan office and retail properties and has been actively refinancing its portfolio through CMBS loans.

Torose Equities and Sabal Investment Holdings sold a five-story office building in Coconut Grove, Miami, for $61 million, achieving a $28 million gain after acquiring it through a foreclosure auction a year prior. The buyer, Azora Private Solutions, is expanding its presence in the Miami office market, having made several other acquisitions in the area and beyond, including properties in Miami Beach and New York. The transaction set a record price per square foot for the Coconut Grove office submarket, reflecting a successful repositioning and lease renegotiation strategy by the sellers.

A Texas-based investor, Doug MacMahon, has been actively acquiring multiple commercial real estate properties in San Francisco, including office and retail buildings such as the 10-story building at 240 Stockton Street and the former Burberry building at 225 Post Street. These acquisitions reflect a long-term investment strategy in the San Francisco market, with other investors also purchasing properties in the area. Meanwhile, Grosvenor Americas has been selling off some of its San Francisco holdings. The properties involved include office and retail spaces, with notable tenants like Gucci occupying retail floors.

Commercial real estate leaders in Los Angeles anticipate stable interest rates in the coming year, with only slight declines expected that will not return to historic lows. Despite challenges such as policy issues and business unfriendliness in Downtown LA, retail properties, especially high-street retail and grocery-anchored centers, are seeing increased investment and are considered the most promising sector. Surrounding areas like Orange County and San Diego are viewed as more business-friendly, potentially influencing shifts in the market and policy changes in Los Angeles.

A Florida-based investment firm, BH3 Management, has renovated and listed a 68-unit condominium community called Privé Malibu in Malibu, California, marking the first new condo listings in the area in decades. The property, previously apartments built in 1993, was purchased for $70 million and upgraded with modern amenities. Malibu faces a housing shortage exacerbated by recent wildfires that destroyed many single-family homes, with limited rebuilding permits issued. Other notable recent real estate transactions in Malibu include a large manufactured housing community and a shopping center acquisition.

Stonehawk Capital Partners secured a $44.6 million refinancing loan for The Henley, a 255-unit apartment complex in Grand Prairie, Texas, near a large 5,000-acre master-planned community called Goodland. The Henley features one- and two-bedroom units and amenities such as a gym, pool, and dog park. Grand Prairie is attracting investor interest due to population growth and streamlined permitting processes. The Goodland development will include housing, parks, shops, and other community features, expected to house nearly 50,000 people at full build-out. Stonehawk is also developing other apartment communities in Dallas-Fort Worth suburbs.

Los Angeles is a leading market for converting real estate into self-storage facilities, with 1.4 million square feet repurposed over the past decade and more under construction. Most conversions involve office buildings and industrial properties. Despite this growth, L.A. remains undersupplied in self-storage space per capita. All projects are in federally designated Opportunity Zones, supporting neighborhood revitalization. The city council recently expanded adaptive reuse ordinances to facilitate converting vacant offices into residences to meet housing goals.

Proptech startup Bedrock Robotics has raised nearly $300 million to accelerate construction processes, particularly for data centers, by automating construction vehicles with AI-driven sensors. The technology aims to speed up construction timelines for housing, data centers, and manufacturing sites, supplementing the shrinking construction labor pool. The funding round was led by Alphabet's CapitalG and reflects growing investment in AI-driven proptech, with other companies like Visitt and Oracle also advancing AI infrastructure and data center development. This trend aligns with broader industry and governmental priorities to enhance AI capabilities in construction and property sectors.

In 2025, Metro Atlanta's retail market experienced a contraction in retail space with negative net absorption, primarily due to big-box store closures. Despite this, landlords raised rents to record highs, driven by limited new construction and high development costs. Affluent areas saw the fastest rent growth, while some retail spaces, especially smaller ones and those in downtown submarkets, struggled to find tenants. The market is seeing a shift as quick-serve restaurants, grocers, and fitness retailers move into vacated spaces, and unique tenants like an electric-car maker show interest in large retail spaces.

Two large master-planned communities are progressing in Denton County, Texas, involving billions in investment and significant infrastructure demands. Hillwood's Lantern project will feature over 2,000 single-family homes, mixed-use space, and a school on 617 acres near Pilot Point, valued at $1.2 billion. Old Prosper Partners' Craver Ranch spans 2,870 acres with plans for over 7,000 homes, townhomes, apartments, commercial space, and schools, with construction starting in 2028 and lasting into the 2040s. Both projects include extensive open spaces and have received necessary approvals and financing mechanisms.

A property manager named Michael Curtis has been charged with misappropriating approximately $600,000 from condo associations in Pembroke Pines and other parts of Broward County, Florida. Curtis allegedly forged signatures and diverted insurance settlement funds to his companies while managing multiple condo associations. These cases highlight ongoing issues with condo association management in South Florida, including allegations of fund misappropriation, lack of transparency, and fraudulent activities. Additional related cases involve other condo managers accused of financial misconduct in Miami-Dade County.

A $10 million sale of a custom-built five-bedroom home in Mar Vista, California, set a new record for the Westside neighborhood, surpassing previous high-end residential deals. The property, located on a large 16,000-square-foot lot, reflects strong demand from buyers seeking spacious homes in the area, including families displaced by recent fires. Despite the imposition of the Measure ULA mansion tax on high-value real estate transactions in Los Angeles, sales activity remains robust, with expectations for more multimillion-dollar deals in Mar Vista and nearby Venice.

Tony Malkin's Empire State Realty Trust has listed a 540,000-square-foot office building at 250 West 57th Street in Manhattan for about $350 million. The 26-story property is 84 percent leased, with retail anchored by T.J. Maxx. ESRT has been shifting its portfolio away from office buildings toward multifamily and retail properties, including recent acquisitions in Manhattan and Williamsburg, and has also divested suburban office assets. The sale reflects ESRT's ongoing strategy to diversify its holdings.

A luxury waterfront spec mansion in Naples, Florida, developed by a team including Portillo’s founder Dick Portillo, sold for over $15.1 million, marking the first sale from a trio of high-end Florida properties. The five-bedroom home at 1640 Dolphin Court sold for about 89% of its nearly $17 million asking price. The other two properties, a penthouse and a house, remain on the market with reduced prices. The development team included C&E Construction and Theory Design, and the property features high-end finishes and waterfront views. Portillo, who sold his hot dog chain in 2014, has since focused on real estate projects including retail and residential developments.

The Trump administration is increasing its acquisition of warehouses to convert into detention facilities for U.S. Immigration and Customs Enforcement (ICE), with significant purchases in Pennsylvania and plans for other locations including New Hampshire and Texas. These moves have sparked protests and political opposition in several states, including Maryland and Virginia, where some sales have been halted due to local resistance. The facilities are intended to house thousands of detainees, raising concerns about security, community impact, and property tax revenue.

Several Chicago suburbs, including Skokie, Evanston, and Glen Ellyn, are implementing or considering stricter regulations on short-term rentals to address community concerns about noise, disruptions, and housing affordability. Skokie has passed an ordinance limiting new investor-owned short-term rentals and imposing fees and booking limits during an 18-month pilot program. Evanston is proposing a cap on short-term rental licenses, distance requirements between rentals, and residency requirements for property managers to prioritize local residents. Glen Ellyn faces a legal challenge after enacting a full ban on short-term rentals. These measures aim to balance housing availability and community impact amid rising housing costs.

The National Action Network (NAN) vacated its longtime Harlem office at 106-108 West 145th Street following an eviction order, clearing the way for the One45 housing development. Developer Bruce Teitelbaum plans a 1,000-unit apartment complex with at least 338 affordable units across three buildings. The project faced delays and opposition but was approved by the City Council in July. Teitelbaum aims to complete the project by June 15, 2031, to qualify for a property tax break and is open to increasing affordable units with public subsidies. NAN will temporarily operate from the Harlem Commonwealth Council's office and move to a new headquarters in March.

Connor Teskey has been appointed head of Brookfield Asset Management (BAM), overseeing a company that raised $112 billion in 2025 and is actively investing in real estate and infrastructure, including data centers and manufactured housing communities. BAM deployed $7.5 billion into commercial real estate while selling $10 billion in assets, including 90 manufactured housing communities in the U.S. The company is also investing in AI infrastructure and energy solutions to support data centers. BAM recently acquired Peakstone Realty Trust, which owns industrial properties, and increased its stake in Oaktree Capital Management, a private credit firm with significant real estate assets.

South Florida's luxury real estate market experienced a volatile 2025, with strong sales early in the year driven by political and economic optimism, followed by a sharp decline after the April 2 Liberation Day announcement. Palm Beach and Miami saw significant fluctuations in luxury home sales over $10 million, with a rebound in activity and pending contracts toward the end of the year, reflecting ongoing market uncertainty but renewed buyer interest.

Bank of Montreal has leased 82,422 square feet of office space at 151 West 42nd Street in Manhattan, New York, continuing its presence in the Times Square area. Other significant office leases in Manhattan include J.P. Morgan Chase, Datasite, Centerbridge Capital Partners, and Withum, contributing to over 2 million square feet of leasing activity in January. Midtown Manhattan was the most active leasing sector, with a 15.5% office availability rate, down year-over-year.

Glenstar and Patrick Halloran have initiated a $30 million renovation of the 41-story office tower at 200 South Wacker Drive in Downtown Chicago, aiming to enhance amenities and attract higher rents despite high vacancy rates in the area. The extensive upgrades include a remodeled lobby, health club, gaming areas, outdoor lounge, and a conference center, with construction expected to finish by year-end. The partners acquired the building for $68 million, significantly below its 2013 value, betting on reinvestment to unlock value amid a challenging office market.

The article discusses the political campaign contributions from prominent commercial real estate developers in Southern California, particularly Los Angeles, supporting various candidates for California governor. Key donors include Geoff Palmer, Frank Suryan Jr., and Steven Craig, who have contributed significant funds to Republican candidate Steve Hilton. Other candidates such as Tom Steyer, Katie Porter, Antonio Villaraigosa, Chad Bianco, Xavier Becerra, and Eric Swalwell also received notable donations from real estate figures. The focus is on campaign financing within California's political landscape involving major real estate stakeholders.

Hedge funds D.E. Shaw and Third Point are pressuring CoStar to change its board and strategy due to poor stock performance and costly investments in Homes.com, a residential listings platform. They criticize CoStar's CEO and board for continuing a high-risk, money-losing residential expansion that detracts from its core commercial real estate data business, which includes office, multifamily, and hospitality sectors. CoStar defends its strategy and board decisions amid calls for restructuring and improved capital allocation.