Investment firms turn their attention towards acquiring digital land, China works to manage its real estate debt, the European Union announces a multibillion-euro infrastructure bill, and more.
Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, has written to newly confirmed Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, asking him to review companies in the tenant screening industry for possible Fair Credit Reporting Act violations and other violations of U.S. laws. The CFPB, for its part, has already published a bulletin alerting Consumer Reporting Agencies (CRAs) and other furnishers of consumer information that, as federal, state and local pandemic-related housing protections expire, the Bureau will be giving greater enforcement focus to these businesses’ compliance with accuracy and dispute obligations under the Fair Credit Reporting Act (FCRA) and Regulation V. While it is still unclear whether Director Chopra will direct the Bureau to investigate specific businesses flagged by Chairman Brown, the tenant screening industry will likely face increased scrutiny in the coming months, which may impact their service offerings and cause interruptions for landlords relying on these businesses and services.
President Biden signs the bipartisan infrastructure bill into law, plants like hemp and algae could help minimize the environmental footprint of high-rise buildings, construction groups sue over the Occupational Safety and Health Administration’s (OSHA) new vaccine rule, and more.
The Real Estate and Construction industry may be huge, but ultimately, as with all industries, it comes down to the people who help make it all come together. From time to time, we like to profile some of those people.
Joe Rich is CIO and a senior vice president at The Related Companies, an owner, operator and fund manager of real estate based in New York City. Rich has been with Related for five years as the CIO. Prior to that, he was CIO at New York-based real estate developer Tishman Speyer.
The House of Representatives passes the Senate version of the Infrastructure Investment and Jobs Act (IIJA), the construction industry continues to struggle with labor shortages, effects of climate change put the built environment at risk, and more.
Amenity-rich buildings become a key focus in enticing employees back into the office, supply chain links are strained by a lack of storage capacity in warehouses and port areas, green lease signings are on the uptick, and more.
Commercial real-estate sales surge in the third quarter, blockchain-integrated real estate is poised to span into new sectors, a major home builder is teaming with a Texas startup to create a community of 100 3-D printed homes, and more.
In 2019, LoBue joined Building for Good, launching its services in D.C. and establishing Pillsbury’s ongoing partnership with the organization. LoBue is a significant volunteer resource for Wildflower Schools pro bono projects as they go from conception, through construction, up to operation. In addition, she is a member of B4G’s Development Committee and helps to grow its fundraising platform in the D.C. area. Read LoBue’s full feature here.
Partner Caroline Harcourt recently moderated Bisnow’s panel, “High Risk, High Reward: Finding Investment Opportunities in Pandemic-Challenged Sectors” panel on Tuesday, October 5. Topics covered identifying the key components to maximize returns on your next deal and insights on contrarian philosophies in opportunistic investment opportunities. In case you missed it, click here to view the recording.