AGP Executive Report
Last update: 7 hours agoMajor Developments: Vornado, Ken Griffin and Rudin closed a joint venture, a 1.05-million-square-foot anchor lease and a $3.3 billion construction loan. UDR and Apollo also formed a $2 billion joint venture. Life Sciences: Oxford plans to invest $985 million in four U.S. life-sciences properties, including new lab space in Emeryville, California. Housing Supply: Norfolk opened 295 renovated affordable apartments as the region faces a shortage of nearly 56,000 homes for lower-income households. A 300-unit affordable development also opened in Norfolk, adding to the region’s housing options. Renter Protections: Manitoba introduced rules to limit rent increases, while Montgomery County joined Rockville in banning rent-setting algorithms. Mishawaka approved rental registration and inspections at least every three years. Market Pressures: Seoul’s smallest apartments rose nearly 16% in a year as buyers priced out of larger homes turn to compact units. Mortgage applications continued to fall despite steady rates, and U.S. multifamily starts declined in September amid high construction costs.
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