Most of the futures-based funds ended their first trading day in the red.

Benchmark 10-year Treasury yield tops 4.7% intraday.

The skipped payments, another signs of the company’s financial troubles, are intended to start negotiations with lenders, it said.

Fixer-uppers looking for quick profits stayed away from the costly Seattle metro area, the least active home-flipping housing market in the nation.

The bidding group is led by Boaz Weinstein.

Mr. Hanks and the CBS anchor Gayle King both said their likenesses were used in unauthorized advertisements, as worries have grown over the unregulated use of artificial intelligence.

The average value of secondhand homes in Ireland increased by 1.2% in the third quarter, with values up 3.2% in the first nine months of the year, according to agent Sherry FitzGerald.
Growth reached 5.5% in the same period last year, it said in its latest market report.
In Dublin, there was a further rise of 0.5% in the third quarter, bringing cumulative price growth in the year to 30 September to 1.8%. This is well down on the growth of 5.2% recorded during the same time period in 2022.
However, the number of secondhand properties listed for sale across the country in July 2023…

The Business Journal’s CRE Diversity Champion says If you want to deliver projects that will be well-received by all your tenants, start a team that is more representative of the range of your tenants.

Call it a real estate boomerang: investors who sold office buildings in San Francisco returning to buy them back for cut-rate deals.

Gaw Capital Partners, based in Hong Kong, and Irvine-based LBA Realty are in separate negotiations to repurchase properties they once owned in the city at steeply discounted prices, the San Francisco Chronicle reported, citing unidentified sources. 

The seller is Blackstone Group, based in New York

In 2018, the private equity firm run by Goodwin Gaw sold a 293,900-square-foot office campus at 560-655 Davis Street in Jackson Square to Blackstone for $245 million, or $833 per square foot.

Now, Gaw Capital Partners wants to buy it back — for a third of its pre-pandemic value.

Gaw Capital was chosen to buy the three-building North Park complex from Blackstone for around $90 million, or $306 per square foot, sources told the Chronicle. The four-story brick campus is 40 percent vacant.

The office vacancy rate in San Francisco hit a record 33.9 percent in the third quarter during a continued shift to remote work, with office values plummeting across the market.

LBA Realty once owned an 82,000-square-foot office building at 600 Townsend Street in Showplace Square, which Blackstone picked up as part of a portfolio for an unknown sum.

The 115-year-old building was once fully leased by Salesforce and then occupied by Airbnb, whose sublease expired in March.

LBA Realty is now buying back the vacant brick building for just over $24 million, or $292 per square foot.

Blackstone’s decision to offload North Park and 600 Townsend is a “pragmatic” move, sources told the Chronicle.

The company is shedding distressed assets to pour its money into higher value properties and growth sectors, or pick up troubled properties at a lower basis, they said.

A Blackstone spokesperson said the company has turned away from traditional offices to invest in “sectors with strong fundamentals propelled by macro demand trends” — such as logistics, student housing and data centers. 

Gaw Capital, run by one of the richest families in Hong Kong, owns a 17-story office building at 555 Montgomery Street in the Financial District. An affiliate, Downtown Properties, owns two other office properties at 300 and 550 Montgomery Street.

— Dana Bartholomew

Read more

The post Gaw Capital and LBA Realty look to buy back offices in SF appeared first on The Real Deal.

Satya Nadella, the chief executive of Microsoft, is the government’s biggest-name witness in its landmark antitrust case against Google.