Today's Real Estate Pulse
Netflix to buy historic Radford Studio Center for $400M
Netflix announced a purchase of the 55‑acre Radford Studio Center in Los Angeles for roughly $400 million, a 78% discount to its 2021 appraisal of $1.8 billion. The 1.1‑million‑square‑foot campus is 71% leased, and its current revenue covers only about 21% of the interest payments on the property.
Also developing:
By the numbers: GO Residential acquires 7 Dey Street for $222.6M
CGT Concerns Don’t Stack Up
The Real Estate Institute of Australia (REIA) has publicly opposed the government’s plan to halve the capital gains tax (CGT) discount from 50 % to 25 %. REIA argues the cut will force landlords to raise rents to offset lower after‑tax returns, potentially impacting around 2.4 million renting households. It also warns that reduced tax incentives could slow new housing construction. The institute submitted these concerns to the ongoing tax‑policy inquiry, emphasizing pressure on an already tight rental market.
Treat California CRE as Distinct Markets, Not One
California isn’t one market — it’s multiple markets. Central Valley CRE and Coastal CRE require completely different underwriting strategies. If you analyze both the same way, you’ll misprice risk. Smart investors adjust their model based on geography. DM me “UNDERWRITE” if you want to...
Estate Agents See DIY Disruptors as a Threat
Research from Alto shows 34% of UK estate agents consider DIY property platforms a threat, with smaller agencies feeling the pressure most acutely. Among sole traders, 37% view services like OpenRent and FSBO as a major risk, while larger firms...
Rental Vacancies Stay Low, Supporting Mortgage Rates
Rental vacancy data has been the quietly positive story for #mortgagerares for over a year now. @housingwire @sarahteresa6 #realestate #housing #economics #chartdaddy
Hilton Grand Vacations Inc (HGV) Q4 2025 Earnings Call Transcript
Hilton Grand Vacations reported fourth‑quarter 2020 revenue of $233 million, a 5% sequential increase, and adjusted EBITDA of $35 million (excluding a $3 million CARES Act credit). The company posted a net loss of $143 million, driven by a $209 million non‑cash land impairment. Contract...
When We Treat Neighborhoods Like a Matching Tea Set
Strong Towns argues that neighborhoods should avoid both radical overhauls and permanent freezes, advocating for incremental, adaptable change. Master‑planned communities resemble a matching tea set—perfect at launch but brittle when altered—locking in constraints like missing retail or freeway dependence. The...
Hudson Pacific Properties Inc (HPP) Q4 2025 Earnings Call Transcript
Hudson Pacific Properties reported a transformative 2025, completing roughly $330 million of strategic asset sales and over $2 billion of capital transactions that doubled its liquidity to $934 million. The REIT reduced net debt by 22%, improved its debt‑to‑book ratio to 31.9%, and...
Compass Inc (COMP) Q4 2025 Earnings Call Transcript
Compass reported a 25.9% year‑over‑year revenue increase in Q4 2024 and generated $16.7 million of adjusted EBITDA, rising to $20.9 million when excluding Christie's acquisition costs. The broker added 669 principal agents in the quarter, boosting its net principal agent count by...
MidCap Financial Investment Corp (MFIC) Q4 2025 Earnings Call Transcript
MidCap Financial Investment Corp reported Q4 2025 GAAP net income of $54.3 million ($0.42 per share) and distributable earnings of $27.8 million ($0.27 per share). The REIT acquired $1.9 billion of loans and securities, expanding its Agency MBS portfolio by over 50% and...
Eagle Point Income Company Inc (EIC) Q4 2025 Earnings Call Transcript
Eagle Point Income Company reported Q3 2025 results, with NAV increasing to $14.21 per share and recurring cash flows covering distributions. Net investment income after losses was $0.26 per share, while the board reduced the monthly distribution to $0.11 amid...
Nexpoint Real Estate Finance Inc (NREF) Q4 2025 Earnings Call Transcript
NexPoint Residential Trust reported a Q4 2025 net loss of $10.3 million ($0.41 per share), an improvement from the $26.9 million loss a year earlier, while total revenue slipped to $62.1 million and NOI fell 4.7% to $37.1 million. The REIT repurchased 223,000 shares...
Why Adjustable-Rate Mortgages Are Surging in a Falling-Rate Market
Adjustable‑rate mortgages (ARMs) have surged to about 21% of U.S. mortgage originations, the highest share in three years, even as rates fall. In high‑cost states such as California, ARMs account for over 31% of loans, driven by a widening affordability...
American Healthcare REIT Inc (AHR) Q4 2025 Earnings Call Transcript
American Healthcare REIT reported normalized FFO of $1.61 per share and 4.8% same‑store NOI growth for 2025, beating guidance. The company leased 5.8 million square feet, improved tenant retention, and cut G&A expenses to $45 million. Debt‑to‑EBITDA fell to 5.4x after $900 million...
Rocket Companies Inc (RKT) Q4 2025 Earnings Call Transcript
Rocket Companies forecast adjusted Q4 2025 revenue of roughly $2.1 billion, driven by the recent Redfin and Mr. Cooper acquisitions. Operating expenses are expected to rise to about $2 billion, reflecting integration costs and severance. The Redfin deal now fuels 13% of...
Frontdoor Inc (FTDR) Q4 2025 Earnings Call Transcript
Frontdoor reported Q3 2025 revenue of $618 million, a 14% year‑over‑year increase driven by volume growth and higher pricing. Adjusted EBITDA rose 18% to $195 million, with gross margin expanding to 57% and free cash flow conversion improving to 60%....
CubeSmart (CUBE) Q4 2025 Earnings Call Transcript
CubeSmart reported fourth‑quarter 2025 FFO of $0.65 per share, with same‑store revenue slipping 1% and occupancy easing to 89.9%. Move‑in rates rose 2.5% year‑over‑year, marking the first positive growth since Q1 2022, while churn held steady at 4‑5% monthly. The REIT...
Waseem Limbada Consultant, Airbnb: From Athlete to CEO
Former state champion athlete Waseem Limbada turned down a professional basketball contract to pursue finance and entrepreneurship. He now leads consulting firms and a rapidly growing Airbnb portfolio, having scaled 100 short‑term‑rental properties in under three years and helped launch...
A New MLS Vendor Enters the Chat
UtahRealEstate.com has transformed its homegrown MLS into a commercial product called reData MLS. The New Mexico Multiple Listing Service (NMMLS) selected this platform for its roughly 1,200 member brokers, citing speed and innovation. reData MLS also bundles the AlignedShowings scheduling...
¿Hablas Español? How a Lack of Spanish-Speaking Loan Originators Hurts Hispanic Borrowers
Mortgage brokers are confronting a growing language gap as Hispanic homebuyers surge. Industry veteran Ashlin Endter notes that 70 % of new buyers will be Hispanic, yet less than 1 % of loan officers are Hispanic and 38 % cannot find a Spanish‑speaking...
QuikTrip Opens 1,200th Store
QuikTrip celebrated the opening of its 1,200th store at 6459 Jonesboro Road in Morrow, Georgia, marking the retailer’s 181st location in the state. The new outlet features QT Kitchens, an expanded coffee menu, and creates roughly 24 local jobs with...
VRE Buyout Offers 5% Cap Rate, Minimal Downside
Good outline of the $VRE buyout. There’s probably a small chance of an overbid here. But, to be honest, probably close to zero, at a 5% implied cap rate. But we’ll see. Downside is only ~10% and the buyer isn’t walking, so...
Sustainable Mobility and Real Estate: Opportunities for Creating Lasting Development Value
The Urban Land Institute’s new report highlights sustainable mobility as a core driver of real‑estate value, showing how transit‑oriented development and mobility amenities can lift asset performance and resilience. Case studies such as Miami’s Underline illustrate how integrating bike lanes,...
Invitation Homes: The Lowest Valuation Since Lockdowns
Invitation Homes, the nation’s largest single-family rental REIT, reported its lowest market valuation since the COVID‑19 lockdowns. The decline follows a 30% year‑over‑year drop in its stock price, driven by rising interest rates and softer rental demand. The company disclosed...
What It Takes to Be Middle Class in America – 2026 Study
SmartAsset’s 2026 study applies a Pew‑based definition—two‑thirds to twice the median household income—to rank every U.S. state and the nation’s 100 largest cities by their middle‑class income bounds. The analysis shows the highest upper‑class threshold in Massachusetts ($209,656) and the...
Nothing Doing: Lowest Rates Since 2022 Fail To Spur Home Sales
U.S. mortgage rates have fallen to their lowest levels since September 2022, yet home sales remain stagnant. A roughly 50% imbalance between sellers and buyers underscores a deep‑seated market freeze. Inventory shortages and lingering affordability concerns continue to suppress demand...
A Rare Move
The Charlotte Ledger’s Real Estate Whispers newsletter highlighted several pivotal developments in the Queen City’s commercial real estate scene. A new steakhouse is set to challenge the long‑standing dominance of SouthPark’s Steak 48, while the Second Ward Medical High School project...
Avoid Underwriting Errors to Maximize Build‑to‑Rent Profits
Build to Rent Deals: Avoid Underwriting Mistakes for Profit Follow @chasecalhoun.realestate for more on build-to-rent and real estate investing. #realestate #investmentproperty #buildtorent
Trump’s Plan To Lower Home Prices for Buyers and Raise Them for Sellers Draws Skepticism: ‘He Must Be a Magician’
President Trump argued that lower mortgage rates will simultaneously make homes cheaper for buyers and preserve homeowner wealth, a claim that has drawn sharp criticism from housing economists. Current 30‑year rates hover around 6%, far above the 2.65% level needed...
MI Volumes Jump 12%, Competitive Pressure Builds
Private mortgage insurers collectively wrote 12% more new insurance in 2025, driven by a sharp rate‑cut‑induced surge in fourth‑quarter originations. While MGIC remained the top writer for the sixth straight quarter, the sector’s share continues to slip to the FHA...
Closed Pharmacies Find New Life as Versatile Retail Hubs
Drugstores are shrinking fast, but their real estate is not becoming obsolete. Well-located former pharmacies are turning into some of the most versatile second-generation retail and healthcare sites in the market. ▫️Walgreens plans to close 1,200 stores (500 in 2025 alone). ▫️CVS...
First-Time Homebuyers Are Far Younger than 40
40-Year-Old Virgin was a funny movie, but it's not the age of the first-time home buyer in America https://t.co/wcVOoa450Q
Onity Group Adds a Former Truist Executive to C-Suite
Onity Group announced the appointment of Aulene Wessel, a former executive vice president at Truist, as its new chief accounting officer. Wessel replaces Francois Grunenwald, who will exit after a transition period. Her résumé includes senior roles at SoFi, Silicon...
Home Prices Stay Sticky Without Massive Supply Shock
The history of homeprices going back over 80 years. It's rare for nominal home prices to fall; it's super rare to have a massive nominal housing price crash. Home prices are sticky unless you have massive supply and distress sales...
Retailers Clash over Fulton Market’s Cultural Identity
From high fashion to fast food, retailers battle for soul of Chicago’s Fulton Market https://t.co/yHlUhchCi9’s-fulton-market
The Typical First-Time Homebuyer Is 35 Years Old
Redfin reports the median age of first‑time homebuyers fell to 35 in 2025, down from 36 the year before and from a 2018 peak of 38. Repeat buyers now have a median age of 47, a drop from the 52‑year...
Affordable Housing Requires Suburban and Greenfield Development
PLEASE NOTE THIS IS **METRO** There is NO example of any City keeping housing costs low without building in the suburbs and greenfield as well.
Winning Deals Even With Money Left on Table
You can leave money in a deal and still win. It doesn't have to be "a perfect BRRRR" to be effective.
$4B Sherman Chip Fab Starts Production
GlobalWafers has launched Phase II production at its Sherman, Texas silicon‑wafer fab, a $4 billion expansion that brings total regional investment to $7.5 billion. The 12‑inch wafer line will supply Texas Instruments, TSMC and other partners producing chips for Apple. The project receives...
Pending Contracts Near February 2025 Levels, Demand Remains Tame
Looks like pending contracts this month will match or slightly surpass February 2025. Here is a visual as of a couple days ago. Basically, buyer demand has been pretty tame still. Very slightly better. https://t.co/9ckA6qPxJo
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#RealEstate data giant #CoStar thinks of itself as a winner but thus far #WallSt treating it as a loser, as it fell below $45/share 1st X since 19. #Florance touts https://t.co/OfrVvw8tgH's new #AI platform, sees rivals as 'doomscrolls' #CRE ...
Tool Retailer ITS to Set up Shop at Dagenham Logistics Hub
Trade tool retailer ITS has signed an eight‑year lease for a 17,700 sq ft unit at Padrock’s Dagenham Logistics Hub, slated to open in April as London’s largest tool superstore. The hub comprises 14 industrial units ranging from 6,550 sq ft to 34,825 sq ft, all...
Stable City Prices only Where Greenfield Development Thrives
This can be laid at the feet of the suburbs not building: Long Island, West Chester, Connecticut, and North Jersey There is no market with stable CITY prices which has not see a TON of greenfield development.
Fed Vice Chair Urges Big Banks Return to Mortgages
Big banks retreated from mortgages after the 2008 housing crash—now this Fed governor wants them back After a decade+ of "migration" toward nonbanks, Federal Reserve Vice Chair Michelle Bowman says it's time to reconsider policy My latest for ResiClub: https://t.co/6IY86V9OTy
Cold Storage Market Working Off Oversupply
Lineage reported flat Q4 revenue of $1.34 billion and a modest $6 million net profit as the cold‑storage market works through a 10% oversupply. New refrigerated space expanded 14.5% from 2021‑2025, while demand rose only 5%, creating a capacity gap that is...
Altadena Renters Lag Behind Post‑wildfire Recovery, People Matter
Renter recovery is lagging in Altadena after last year's wildfire, a new @UCLAlatino study finds: “The real question is when we’re prioritizing return to Altadena to what it once was, is that based on the housing or is that based...
More Pandemic Construction, Fewer Bidding Wars; Less Building, More.
🏗️The places that built the most housing during the pandemic have the fewest bidding wars, and the places that neglected to build have the most. 🏘️ See percent of homes selling above list price by county. https://t.co/giPGgmFuBr
Bay Area's Tech Boom Fuels Essex Growth Through 2026
Here are some highlights from Essex's (major West Coast apartment REIT) recent earnings call: 1) The Bay Area remains a bright spot for Essex, driven by tech jobs plus limited housing supply. Essex expecting same for 2026. https://t.co/bENUiyzAc3
Austin Rents Set to Rebound as Vacancy Dries
#Austin poised for another moment. Rents there w/probably rise in coming months after falling last 10 qtrs as trove of empty apts starts to run dry. #realestate #CRE #multifamily #tech #mortgage #investmentsales https://t.co/meHbZSFqVN via @WSJ https://t.co/T2gRvG2Sc2
DC Height Act Forces Windowless Bedrooms in Apartments
If you ever wondered why DC has so many apartments with windowless bedrooms … it’s the Height Act https://t.co/Axl6cvRgrf
Mortgage Demand Hits 10‑month Low, Biggest Homebuyer Strike
Mortgage demand to buy houses just plummeted to its lowest level in 10 months. The MBA mortgage purchase index is now at 150. 57% crash from pandemic peak. 40% drop from 2018-2019 levels. It's the biggest homebuyer strike ever. https://t.co/FVB0HYY4bc