NATIONAL
Crescent Communities, Heitman JV On Major BTR Push

BisNow

A major Southeast commercial real estate developer is teaming up with Chicago-based investment management firm Heitman to spearhead more than $200M in new single-family build-to-rent homes across four states. Crescent Communities and Heitman plan to start construction this spring on Harmon by Crescent Communities rental neighborhoods in North Carolina, Texas, Tennessee and Arizona, the company announced Thursday.

Half Of Hotel Investors Want To Buy This Year: CBRE

BisNow

Hotel investors are so back. More than half of hotel investors across the globe plan to buy more this year than they did last year, according to CBRE's Hotel Investor Intentions Survey of 300 investors. Only 14% expect to buy less. In the U.S., one-quarter of investors surveyed plan a large spike in their buying intentions, and another quarter plan a small increase. That could lead to a major rebound from 2023.

A national shortage of construction workers is driving high home prices. The industry is struggling to fill the gap.

Business Insider

When the pandemic hit the US in the spring of 2020, construction projects of all kinds froze and workers were laid off in huge numbers. But as remote work took hold and many sought larger homes, demand for new residential construction quickly picked up and workers were back on the job.

CALIFORNIA
As offices languish, luxury apartments thrive in downtown L.A.

Los Angeles Times

By many measures, downtown Los Angeles' newest apartment tower is over the top with such gilded flourishes as stone tiles from Spain lining the elevator cabs and hand-troweled Italian plaster on interior walls. Hummingbirds have somehow found the fruit-laden trees decorating the outdoor lounge on the 41st floor.

COLORADO
Most property assessment appeals are being denied in Denver area

AXIOS

If you challenged your property valuation increase, don't hold your breath for a tax break. Colorado's county appraisers are sorting through a record number of appeals for property assessments ahead of the Aug. 15 deadline. The initial indications suggest many people won't win the appeal, typically because they presented insufficient information to warrant a downward adjustment.

ILLINOIS
Cook County assessor’s race heats up with $1 million contribution to challenger in Democratic primary

Chicago Tribune

One of the biggest campaign races in Cook County ratcheted up Wednesday as Kari Steele, the top challenger to first-term incumbent Cook County Assessor Fritz Kaegi, received a $1 million contribution from a political fund backed by the influential operating engineers union.