Top News for Real Estate Pros

CBRE Explores Large Acquisitions That Could Reshape the World's Largest?Brokerage

世邦魏理仕 Group Inc., the world's largest real estate brokerage, said it has $5.5 billion it's looking to spend on acquisitions as some companies seek buyers in a slowing economy that contributed to its first quarter-earnings falling 70% from a year-earlier record.

"The current environment is an attractive time to deploy capital," said CBRE Chief Financial Officer Emma Giamartino . "Our M&A pipeline is strong with multiple attractive opportunities, some large, that could transform CBRE's existing offerings."

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The Most Popular Grocery Store in Each?State

Grocery stores have devised unique tactics to stay competitive, a recent report from Placer.ai , a location analytics and foot traffic data company, identified the most-favored grocery stores across different states.

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Simon Property To Spend $1.5 Billion Building 2,000 Apartment Units, Hotel?Rooms

Simon Property Group estimated it will have construction of the projects completed over a five-year span, CEO David Simon said Tuesday on a first-quarter earnings call. He discussed the real estate investment trust's pipeline of apartments and hospitality properties while pointing to what he described as the company's successful redevelopment of?Phipps Plaza?in Atlanta, a mall that now?has a Nobu hotel and restaurant and Life Time fitness center on its site.

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Race to Profitability Prompts New Lyft CEO To Curb Company’s Era of Remote?Work

Only a day after announcing plans to lay off more than 1,000 workers, Lyft CEO David Risher told employees they would be required to come back into the office at least three days a week. “Things just move faster when you’re face to face,” Risher told the New York Times. He added that remote work in the tech industry had come at a cost, leading to isolation and eroding culture. “There’s a real feeling of satisfaction that comes from working together at a whiteboard on a problem.”

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Colliers Expects Steep Declines in Real Estate Activity to Last Through?2023

Colliers revenue fell 3% to $966 million in the first quarter of the year from the year-earlier quarter, including a 9% drop in the Americas, its largest market, executives said in discussing the firm's earnings on Tuesday.

Most of the decline was caused by reduced capital markets deal activity across all property types,?Colliers?CEO Jay Hennick said. Leasing revenue increased slightly and capital markets income declined 42% in the quarter, Hennick said.

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