Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
November 16, 2020

At CRE's Biggest Companies, Talk About Diversity Is Rarely Followed By Action
[Digital Summit] Join Bisnow & Leaders Of Industry For Southeast Multifamily Digital Summit: Today's Development, Design & Proptech Trends Dec. 10

Hundreds of billions of dollars flow through commercial real estate every year, but the people who control the vast majority of that wealth are White.

This has been a truism since the dawn of the modern commercial real estate era in the 1980s. But as the nation’s pension funds, insurance companies, university endowments and the wealthiest among us pump more and more of their money into commercial real estate, a rigorous accounting of the makeup of the people who control that capital has never been done.

At CRE's Biggest Companies, Talk About Diversity Is Rarely Followed By Action

Soon after the killings of George Floyd, Ahmaud Arbery and Breonna Taylor, Bisnow wrote an open letter to the industry promising that “our newsroom will be digging even deeper to hold this industry accountable to its collective desire to be a more diverse and…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com
Biden's Election Day Win Has Revived Foreign Investment Interest In The U.S. Biden's Election Day Win Has Revived Foreign Investment Interest In The U.S.
WeWork Burned Half A Billion Dollars In Cash In Q3 WeWork Burned Half A Billion Dollars In Cash In Q3
Biden Adviser Proposes Nationwide Shutdown While States, Cities Take Baby Steps To Control COVID Spread Biden Adviser Proposes Nationwide Shutdown While States, Cities Take Baby Steps To Control COVID Spread
CMBS Loans Have Gone To Special Servicing This Year Faster Than Ever Before CMBS Loans Have Gone To Special Servicing This Year Faster Than Ever Before
Perforation

REITs Remain Overwhelmingly White As Diversity Push Falls Short

This piece is the first in a series of articles examining the racial diversity of the boards and executive leadership of the biggest companies in commercial real estate. To read the introductory editor’s note for this series, click here. Stay tuned for the next installments on CRE brokerage and the finance industry.

The industry’s largest real estate investment trusts control hundreds of billions of dollars in real estate and employ tens of thousands of people, but they have failed to diversify their executive ranks.  

The nation’s reckoning on race this year has led many REITs to release statements about the need to address systemic inequalities, and the real estate giants will need to start by pushing for racial equality at their own companies. A Bisnow analysis of 26 of the largest REITs shows the overwhelming majority of their top executives and board members are White.  

REITs Remain Overwhelmingly White As Diversity Push Falls Short

Bisnow’s analysis comprised the 26 commercial real estate-focused REITs that are part of the S&P 500, showing a cross section of the nation’s largest REITs across all major property sectors. These 26 companies collectively employ more than 69,000 people and bring in over $66B in annual revenue.Across the 26 REITs, there…

Read the full story here.

  Share:  
 
Perforation

Invesco Could Get $34M Tax Break For Midtown Union HQ
Invesco Could Get $34M Tax Break For Midtown Union HQ  

Invesco is looking to Atlanta's economic development arm for a green light on tax incentives for its new Midtown headquarters. Invest Atlanta is scheduled to vote Monday afternoon on a $33.75M lease purchase bond for Invesco Group Services' move to Midtown Union. The bond will be used to offset taxes for…

Read Full Story
  Share:  
Perforation

In Case You Missed It...
Ponce City Market To Expand With Timber-Framed Office, 'Hotel-Like' Apartments Ponce City Market To Expand With Timber-Framed Office, 'Hotel-Like' Apartments
Austin Developer Plans 31-Story Co-Living Tower Near Georgia Tech Austin Developer Plans 31-Story Co-Living Tower Near Georgia Tech
Deal To Sell The Famed Cheetah Strip Club Is Off Deal To Sell The Famed Cheetah Strip Club Is Off
Summerhill Ramada Sold At Auction, Rebranded, Eyed For Conversion Summerhill Ramada Sold At Auction, Rebranded, Eyed For Conversion
 
Perforation

Bisnow Survey: CRE Worried About Higher Taxes, Gridlock, More Shutdowns In A Biden Presidency
 

In the wake of the U.S. presidential election, commercial real estate professionals are eyeing the future with some trepidation. Higher taxes, political gridlock, more regulation and the potential for further pandemic-related shutdowns are just some of the issues worrying the industry as President-elect Joe Biden stands poised to assume the presidency in January.

Bisnow surveyed 1,042 commercial real estate professionals between Nov. 10 and Nov. 13 to find out how the industry views the results of the election. The results showed the same political division, heated emotions and worries playing out in the country at large.

Respondents lobbed insults at the candidates, calling President Donald Trump “vengeful, narcissistic and self-serving” and Biden “senile, corrupt and feckless.” Respondents accused both political parties of destroying the United States and refusing to compromise.

But almost across the board, respondents said they hope the next four years can be less tense, less angry and less of a media firestorm.

“Hopefully politics can become boring again,” one respondent wrote.

Read the full story here.
 
 
About
    
Contact
    
Sponsor
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
Unsubscribe from this
    
Unsubscribe from All
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 43857