Davis Property and Investment’s Post

According to a Q3 2023 report by MSCI Inc., the office sector is currently facing the highest amount of #distress in the real estate market with $32.5 billion in distressed office assets, including both financially troubled and bank-owned assets. MSCI Inc. estimates potential distress in #office to be an additional $50.3 billion. Many office property owners are heading for the exits amid weaker demand and looming #debt maturities, while some, and very few, #opportunistic private #equity groups are beginning to capture what could be once-in-a-generation buying opportunities. One of those #privateequity opportunistic groups is the venture of The Bascom Group affiliate Harbor Associates, LLC, led by Joon Choi, Justin Loiacono, Paul Miszkowicz and Rich McEvoy, CCIM and F&F Capital Group, led by principals, Jeff Frieden and Robert Friedman. The venture recently acquired Westwood Terrace, a 164,700-square-foot five-story #distressed office building at 1640 South Sepulveda Boulevard in Westwood for $44.7 million or $271 per square foot — nearly 52% less than it traded for five years ago. Westwood Terrace was built in 1987 and located a block north of Santa Monica Boulevard. According to the The Real Deal, the seller was New York-based JPMorgan Chase & Co., which acquired the property in lieu of #foreclosure from a partnership that previously bought the building in 2018 for $92.5 million, or $562 per square foot. A $60 million loan from JPMorgan Chase & Co. was tied to the #property, for which the unidentified partnership failed to make payments or secure refinancing, resulting in the lender taking control of the #building. The building was 80 percent leased at the time of sale this month. 1640 Sepulveda had been repositioned in the market under the direction of top LA #architect, ShubinDonaldson . Spaces offer views of Century City, Beverly Hills and #Westwood. The Penthouse features a balcony on Sepulveda while all tenants enjoy the private patio to the north of the building with new decking, pergolas, and landscaping. Various suite sizes are available.  1640 Sepulveda is centrally located off the 405 Freeway and Santa Monica Boulevard, offering employees the opportunity to shorten their commutes. The Real Deal https://lnkd.in/g5q3EGWD #commercialrealestate #realestate #cre #realtor #realestateinvesting #commercial #commercialproperty #realestateinvestor #business #investment #propertymanagement #investmentproperty #construction #officespace #realestatebroker #broker #commercialrealestatebroker #investing #realestatelife

Just north of Beverly Boulevard in Historic Filipinotown

Looking back at the aerial view of BOSTON, a four-storey apartment building finished a few years back. It is exciting to see the process of constructing such a monumental building from start to finish. MAYCON LTD #structuralengineering #constructionwork #constructionmaterials #constructionjobs #newconstructionhome #constructionphotography #dailyconstruction

SECOND FIX MAGIC IN CHORLEY 😎 This project has been through its fair share of challenges, and delays. However we've made some awesome progress on the GF layout while upstairs is further ahead. This is a project that we are managing for a client, who's stuck by us and we're excited to show you all the shared vision we've been able to bring to life with them.  Looking forward to showing this in future weeks.. (its going to be a stunner 🤓) #hmo #ukproperty #projectmanagement #propertydevelopment #mcrproperty #propertyjourney #manchester #property

west south elevation view

**Just Listed** Check out my new listing website. This incredible website includes a virtual tour of this magnificent custom home. #lvrealtor #luxurycustomhome #lvcustomhomebuilder #lasvegasluxuryhomes #dreamdesigns

East Flatbush Reno

Decision on demolition of buildings, construction of 415 no. residential units (252 no houses, 163 no. apartments) creche and associated site works. https://lnkd.in/dHDSVZKY

Say what you want about DC's notoriously low skyline (I, for one, love it) but whether it's your vibe or not - it's not because of what you think. Sure, DC has a height act, which limits our skyline, but even more restrictive than that are the development zones. Residential buildings, for example, are often limited to below 50' in height! https://lnkd.in/e5hDS-8Z

Modular housing research and development For Urbex I have been undertaking research into modular building as means of improving the affordability of housing. My personal experience in this area has been limited, with the offsite manufacture of the sales and information centre at Fitzgibbon Chase (Fitz Blitz Part 1 (https://lnkd.in/gHH-Y6iZ) and building a three storey terrace at Southport (https://lnkd.in/gT4Ch2kr), my only hands on experiences. Notwithstanding these projects which were mostly positive, I admit I started the current project as a modular sceptic. This was driven by my observations over the years that standard building methods were more cost effective (unless for remote housing) and also by the recent failure of large modular building companies in the UK and the USA https://lnkd.in/gq7WiaEj However, after nine months of investigation, the Urbex team believes there is a place for modular building in the current market place and will be building two prototypes in early 2025 (one for single level housing, the other for medium rise apartments). So, watch this space..…..