Daniel Geiger

Potential real-estate deals from TikTok and Meta are concrete signs of the growing dominance of TikTok and struggles of the Facebook parent company.

The email, which Reffkin sent on Sunday, December 4 and Compass confirmed is real, includes Reffkin’s urging: “The time for leadership is now.”

Reffkin’s email reflects the growing strains he faces as the housing-market downturn batters his brokerage. Two employees said they felt disheartened by the memo.

With home sales dipping amid rising interest rates, Compass has bled cash. Now it’s cutting even more workers in a third round of job cuts.

Reffkin’s email early Thursday morning comes as the embattled firm races to cut costs and cope with a cooling housing market.

Boxabl is one of the buzziest firms in the fast-growing construction-tech arena. But questions abound for the startup, helmed by a wild father-son duo.

Elon Musk got his home, but Boxabl faces a huge backlog with many orders left unfulfilled and customers asking for their down payments back.

Brookfield, Fortress, and Cerberus are busy buyers in the $200 billion market for industrial outdoor-storage sites as office and retail struggle.

Boxabl has acknowledged that it is the subject of an inquiry by the Securities and Exchange Commission in an updated financial statement.Insider previously reported that former employees of the company and a person with knowledge of its financial reporting had been contacted and interviewed by the federal regulator in recent weeks. Two of those people were subpoenaed, a step the SEC typically takes when it is conducting an investigation. The people, who did not want to be identified publicly bec…

In Phoenix and the surrounding region, data centers have attracted attention for the noise they blare, the water they guzzle, and the large tracts of land they’ve consumed. Now, the prodigious power burned by this fast-growing industry threatens to overwhelm the city’s utilities and stymie efforts to remove fossil fuels from the grid even as the climate crisis has flashed increasingly dire signals. This year, the daily high temperature in Phoenix reached or surpassed 110 degrees Fahrenheit for a…

It’s less than a year since ChatGPT launched to the public, triggering a boom in artificial intelligence investments, and forever changing our comprehension of the technology.And while the rise of AI has already changed our digital realities, it’s also beginning to impact our physical world, too. The AI boom has supercharged a wave of spending on data centers. This building boom is sucking up billions of dollars, along with water, land, and energy. “There’s a well-publicized arms race happening…

The world’s largest owner of warehouses is seizing on the biggest transformation of America’s roadways since the advent of the automobile.Prologis, the $100 billion owner of industrial and logistical properties, has reached a deal to build a large electric-vehicle charging station that would service commercial trucks in Southern California, a company executive told Insider.The executive, Henrik Holland, a former Shell executive who joined Prologis in 2021 to lead its electric-vehicle-development…

When data centers began to congregate in northern Virginia a little more than a decade ago, they had few friends in the state.Now, major players in the business are received by the governor, counties woo them for development projects that generate jobs and tax revenue, and the region’s largest utility has proposed tailoring the electrical grid to suit the industry’s prodigious power needs.The star treatment shows the transformation of the data center industry into an economic powerhouse in Virgi…

Once the nation’s most active buyer of commercial property, Blackstone’s $62 billion private real-estate investment trust, BREIT, has had its largest year of redemptions yet.The fund, the $1 trillion asset manager’s single largest real-estate investment vehicle and the most sizable private REIT, could hand back about $3.2 billion to investors during the last three months of 2023, according to data from Stanger, a research firm that tracks the private-REIT industry.The exodus would cap a tumultuo…

Chris Davies has never handled a commercial real-estate sale more than $10 million in size.But an executive at a publicly traded apartment owner recently assured him that the next time it has a $50 million property to sell, he’ll be among the brokers it considers.Davies admits it wasn’t his credentials, charm, or connections that opened the door to such a potentially lucrative assignment. In fact, it wasn’t even him — the executive was dazzled by Davies’s chatbot.Brokers, Davies noted, normally…

Amerant Bank, a large community bank based in Coral Gables, Florida, recently announced that it had reached a deal to sell a $401 million portfolio of loans tied to a collection of apartment buildings in Houston for $370 million – a roughly 7% discount on the debt’s remaining balance. Amerant’s chief executive, Jerry Plush, described the planned sale on a January 25 earnings call as part of an effort to refocus its business on clients with whom the bank has an ongoing relationship. Banking and…

Darcy Stacom, nicknamed the “Queen of the Skyscrapers” for her success selling tens of billions of dollars of commercial properties over an illustrious career spanning more than 40 years, has left the prominent real estate firm where she rose to the apex of the brokerage business. Stacom’s exit from the New York office of the global real estate services giant CBRE was disclosed in an internal email sent to employees on Monday afternoon by Matthew Van Buren, CBRE’s Tri-State president and Chris L…

The coworking firm Industrious avoided the fate of rivals WeWork and Knotel by partnering with landlords rather than leasing space from them – an approach that shielded it from the liability of paying rent when the office market began to tank during the pandemic.Now, the New York-based company wants to be a leader in another area of the workspace market, on-demand offices that can be rented even more flexibly by the day or hour.Jamie Hodari, the 42-year-old founder and CEO of Industrious, likens…

Prologis, the nation’s largest owner of warehouse properties, plans to spend billions of dollars building data centers as artificial intelligence and a proliferating digital footprint fuels demand for large computer storage and processing facilities.To help lead that effort, the San Francisco-based $122 billion public company has hired an industry veteran, Chris Curtis, who cofounded Compass Datacenters in 2011.Curtis, who is 53 and based in Dallas, left Compass in January. He said he was drawn…

Faced with moribund office demand and cratering property prices, the New York investor RXR Realty was ready to surrender the commercial tower it owns at 61 Broadway in Lower Manhattan.But in an increasingly common twist, the 33-story building’s lender, a group of financial institutions led by Aareal Bank, has been unwilling to seize control of the asset and unable to sell the debt to an investor who might.Instead a deal is now being negotiated to trim the size of the property’s $240 million mort…