The national occupancy rate dropped to 81.7 percent during the months of April to June, a 79 basis point drop from the quarter before, according to a quarterly report from the NIC.
Billionaire Dan Och’s hedge fund firm is targeting $2 billion for its fourth fund focused on opportunistic property investments as soon as the end of the year, according to people familiar with the matter.
The Chicago-based real estate investment trust is looking to sell 800 Sixth Ave., a high-rise tower in Chelsea, and 505 W. 54th St. in Hell’s Kitchen, according to a person with knowledge of the offering.
The real estate sector is awaiting the true impact from Hurricane Florence, according to Seeking Alpha. Wells Fargo’s CFO said he expects commercial real estate and commercial and industrial loans to drop from second-quarter levels, the Wall Street Journal reports. These are among today’s top must reads from around the commercial real estate industry.
