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March 21, 2024

Texas Real Estate Commission Warns Of Massive Leasing Fraud Scheme As Cases Pile Up

Get Asset Class Updates And Insider Insights Into Houston's Leading Industries May 7

The Texas Real Estate Commission is warning real estate brokers, agents and owners to be on guard after discovering the most extensive wave of leasing fraud it has investigated in recent history, all of it centered in Houston so far.

Texas Real Estate Commission Warns Of Massive Leasing Fraud Scheme As Cases Pile Up

The scams involve the use of fraudulent information, such as job history and credit reports, to secure rental properties on behalf of tenants. And unlike other recent scams to defraud landlords, brokers and agents are taking part in the deception in these cases.TREC has already investigated dozens…

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Pagewood And CenterSquare Acquire Portfolio Of 9 Business Parks Across Houston

A joint venture between Pagewood and CenterSquare Investment Management acquired Gateway Industrial Commons, a 621K SF service industrial portfolio made up of 46 buildings throughout nine business parks.

Pagewood And CenterSquare Acquire Portfolio Of 9 Business Parks Across Houston

The properties are centralized in northwest Houston, in the Southern Brittmoore and Lower 290 corridors, according to a news release.“The acquisition of Gateway Industrial Commons reflects our unwavering confidence in the limitless opportunities within the service industrial sector,” Victoria Madrid, vice president of private real estate at

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Dallas Office Tower Sells For $54M To Financial Firm Planning New HQ

A 257K SF office building in Dallas has sold to a financial institution that plans to use the 10-story tower as its headquarters.

Dallas Office Tower Sells For $54M To Financial Firm Planning New HQ

Piedmont Office Realty Trust sold One Lincoln Park at 8401 N. Central Expressway to Triumph Financial for $54M, or $210 per SF, according to a news release. The proceeds from the sale were used to pay down about $50M in maturing debt on the property.“We are…

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Multifamily Loan Losses Spike As Debt From 2021 Peak Comes Due

Multifamily Loan Losses Spike As Debt From 2021 Peak Comes Due  

While much of the concern over commercial real estate distress has focused on the office market, a new report shows multifamily loans are the ones that saw the biggest spike in losses last year. 

The loss rate for apartment loans last year reached 16%, up from around 5% in the prior two years, according to  MSCI’s U.S. Capital Trends report released Wednesday. The rate of losses is still less than half of what it was during 2009, when lenders were taking losses on 37% of apartment loans, but…

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