Articles Posted in Real Estate

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Several commercial real estate firms have joined the growing list of companies temporarily suspending—or outright terminating—property and facility management operations in Russia amid economic sanctions and mounting international pressure. CBRE is the latest to make such a move, discontinuing its Russian leasing, investment and property management operations and denouncing Russia’s invasion of Ukraine in a statement issued March 7. Other major players, including Savills, Knight Frank, and Colliers, have already suspended operations in the country, citing similar concern for international sanctions and the humanitarian impact of the invasion. Colliers is going even further to suspend operations in Belarus as well. Recently, global real estate service giant JLL switched course, issuing a formal statement that “with great sadness,” it will begin the process of separating from its domestic operations in Russia, though not commenting on whether the separation will be temporary or permanent. This is a significant change from just earlier this month , where, when asked about pulling operations from the country, JLL stated it would stay abreast of the situation abroad and continue to ensure the safety of its people and clients.

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Economic sanctions placed on Russia cause a shift in the U.S. real estate market, investments in virtual real estate continue to grow as market equilibrium returns, climate change concerns have made a notable impact on regional real estate interest, and more.

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On February 15, 2022, the Federal Communications Commission (FCC) released a Report and Order adopting new rules to further broadband competition for the millions of Americans living and working in apartments, public housing, office buildings, and other multiple-tenant environments (MTEs). In their recently-published client alert, Pillsbury colleagues Glenn Richards and Betsy Craig discuss how the commission rules out certain revenue sharing agreements, requires disclosure of exclusive marketing arrangements and restricts sale-and-leaseback arrangements.

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Construction contractors adjust to extreme changes in material prices, China expands real estate lending support to its larger cities, semiconductor demand becomes a gem for industrial real estate, and more.

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The Biden administration’s Buy Clean Task Force turns its attention to sustainable construction materials, Florida Restaurateurs begin to use nonfungible tokens (NFTs), the Infrastructure Investment and Jobs Act will invest in hydrogen and nuclear technologies, and more.

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A Florida home for sale offers a property deed via an NFT, nuclear power is projected to play an important role in the climate crisis, a Spanish real estate developer aims to set up an office in the the metaverse Decentraland, and more.

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The Biden Administration announces the Building Performance Standards Coalition, commercial real estate sales in the metaverse topped $500 million in 2021, the New York eviction ban expires, and more. Continue Reading ›

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The future of traditional real estate skills for virtual land buys is questioned, China’s property sector might experience policy easing, U.S. commercial real estate sales set records in 2021, and more.

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Habitat for Humanity builds the nation’s first 3D-printed house, the White House announces infrastructure spending plans for 2022, commercial real estate firms are left to determine their vaccination mandates, and more.

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Municipal-gas-1324724627-300x200On November 15, 2021, the New York City Council approved a bill banning gas hookups in new buildings, making the biggest city in the U.S. the latest in a string of municipalities to prohibit natural gas infrastructure in new homes and buildings. In the two-and-a-half years since Berkeley, California, passed its then-novel municipal ban on new natural gas infrastructure, numerous cities have found themselves at odds with state governments and industry groups on the issue of full electrification in residential and commercial real estate. The resulting disputes, litigation and regulatory uncertainty have created headaches for the real estate industry. Although not all view the restrictions as negative, and many developers have embraced the push for more climate-neutral buildings, these bans introduce complexity to the real estate market, raising additional legal and commercial challenges.

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