Bud Perrone News Today

Higher interest rates and surging expenses are erasing US apartment investors’ profits, even though rents are climbing.

From Bloomberg: U.S. apartment landlords who benefited from rapid rent growth during the pandemic are suddenly in the red. Higher interest rates and surging expenses are erasing their profits, even as rents are still climbing in many places.

US banks’ unwillingness to lend and building owners’ desperation for credit have created a standoff. Some landlords threaten to default, betting banks and investors stand to lose more in a foreclosure.

Office districts in nearly every U.S. city have been under great stress since the pandemic emptied workplaces and made working from home common.

The health of banks and cities and the nation’s economy could hinge on high-stakes negotiations over commercial real estate loans.

Many office landlords are seeing borrowing costs skyrocket, leading owners

The city of San Diego's sale of the four-block, East Village parking lot known as Tailgate Park to a development team led by the San Diego Padres will not close this year as planned.

The developer of a massive, approved development near the San Francisco Caltrain station...