Kevin Gibbs

Real Estate Broker | $ABNB Superhost | FSU Alum | Dodgers Fanatic

[Nightingale Associates @FCNightingale]

United Wholesale Mortgage said a hedge established around its failed Two Harbors acquisition produced a $603.2M derivatives loss and contributed to a $451.9M Q2 net loss.

#RealEstate

https://t.co/dNcxpjctQj

[Nightingale Associates @FCNightingale]

Port of Long Beach buys downtown office tower at 23% discount from its price 10 years ago as vacancies surge

The purchase comes as the office vacancy rate in downtown Long Beach reaches an all-time high of 35%.

The port spent $36M to buy the property at 100 Oceangate, a 13-story building across the street from the port’s headquarters and less than a 10-minute drive from the port.

Sold in 2016 for $46.5M

225,486 Square Feet Built 1972

#commercialrealestate

https://t.co/LVRR66lvtP

[Chad Griffiths @ChadGriffiths]

This is going to be a remarkable manufacturing campus in North Carolina (coincidentally not far from Kitty Hawk).

[Charlie Bilello @charliebilello]

Florida Home Prices, % Below High (via Zillow)...
Miami: -3%
West Palm Beach: -5%
Orlando: -5%
Port Saint Lucie: -6%
Tampa: -6%
Fort Lauderdale: -7%
Jacksonville: -7%
Key West: -8%
St Petersburg: -12%
Naples: -12%
Sarasota: -15%
Fort Myers: -19%
Cape Coral: -22%

[Nightingale Associates @FCNightingale]

Bank of America Plaza 800 Market Street St. Louis, Missouri

Sold for $9.5M - $12.50 per SF, 8% of price 23 years ago
Sold for $47.85M in 2010
Sold for approximately $120M in 2003

Owner defaulted on a $50M CMBS loan.
Lender took possession with a $6.3M credit bid -
GSMS 2015-GC30 Market Street LLC

St. Louis City Q2 office vacancy rate at 29.8% per Colliers

759,608 Square Feet Built 1982 Occupancy 40.20%

-rimarketplace / connectcre / firstalert4

#commercialrealestate

[Stream Realty Partners @StreamRealty]

Stream is proud to have been hired by Menashe Properties to handle leasing and property management services at 180 North LaSalle Street, an 861,476 SF, 38-story office tower located in Chicago's Central Loop. Click here ➡️ https://t.co/0XeTsLsow1

#StreamCRE #CRE

[BKM Capital Partners @bkmcapital]

BKM Capital Partners Expands DFW Presence with Great Southwest Acquisition: https://t.co/e8bDlfjFw1
CoStar Insight: Small-bay space looms large in Southern California:
https://t.co/rw8F1QlWiu
BKM Acquires Kent Valley Light Industrial Portfolio
https://t.co/e0SJfjlD5e

#BKM #BKMCP

[Nightingale Associates @FCNightingale]

Equitable Plaza Los Angeles, California

Reported a new appraisal that dropped the value of the property well below the loan balance. The new value of $57.7M is 62% lower than the $150.0M value from 2014.

688,292 Square Feet Built 1969 53% Occupancy

Defaulted in 2024.

($74.5M | 37.1% of COMM 2014-UBS3)

3435 Wilshire Blvd Los Angeles, California

-morningstar
#commercialrealestate

[Nightingale Associates @FCNightingale]

S2 Capital is dissolving its $400M first multifamily fund with no return of capital

A July 1 letter from founder Scott Everett that was shared with The Real Deal said the $400M fund’s limited partners and preferred equity investors will receive “no return of capital.”

At this month’s foreclosure auctions, the firm risks losing control of five North Texas properties, representing $311M in troubled loans from Computershare Trust, Benefit Street Partners, Citibank and U.S. Bank Trust.

#commercialrealestate

https://t.co/Ssos254wqS

[Susan Shelley @Susan_Shelley]

Look what the L.A. County Board of Supervisors has planned for apartment owners. Up for discussion tomorrow, a proposal to prevent the sale of buildings to private owners by giving community groups a right of first refusal. Column: https://t.co/LW2vPKFq10

[David Piotrowski | CA Landlord Eviction Lawyer @DavidPiotrowski]

Starting July 1, LA's 'mansion tax' threshold rises to $5.4M, with the top tier at $10.9M.

[Taylor Avakian @TAYVAY_]

This deal just hit market in Hollywood. 196 Units

It was part of and Opp Zone fund that was started in 2019 by the sellers.

Given it has not been 10 years since they bought it, you can tell that the 'faith' that values will reach 2019 levels by 2029 in Los Angeles are low.

This is what happens when it becomes impossible to run and maintain a master metered building, where the city removes the 2% rent increases to keep up with costs. The insurance costs are likely $1500+ per unit and the expense ratio, on a STABILIZED building are probably 55%.

Oh and the city/state is looking to get rid of RUBS which is the only thing that would make this building even operable at a profit if your looking forward.

Crazy times in Los Angeles Real Estate.

[Forbes @Forbes]

AI agents will transform your business as soon as you get them working. Many entrepreneurs have wasted time figuring it out. Use these prompts in ChatGPT to make your plan for AI agents and then deploy them.
Read more: https://t.co/LDNoienmoA

[Realtor.com @realtordotcom]

A 22,000-square-foot former General Motors building in Flint, MI, has hit the market for $475,000, offering a buyer nearly a full city block of land and the opportunity to convert the partially renovated structure into lofts, a brewery, or creative workspace.

Read: https://t.co/CMsL1gCBdK

[Kevin Gibbs @SoCalRealty1]

@SteveHiltonx

[Kevin Gibbs @SoCalRealty1]

@usmntonly Thought this was @sammorril for a minute

[Nightingale Associates @FCNightingale]

"Inland Empire Industrial Slump Deepens"

The area's vacancy rate reached 7.8% in the first three months of 2026, and negative net absorption hit 4.7M SF, according to a report from CBRE.

The negative absorption included four 1M SF spaces that went vacant in the quarter.

-Bisnow
#commercialrealestate

[The Wall Street Journal @WSJ]

Exclusive: Billionaire Ken Griffin is appalled that Mayor Zohran Mamdani used his 24,000-square-foot Manhattan penthouse last week as the backdrop for a tax-the-rich video, and that has triggered a subtle threat of re-evaluating investment in the city. https://t.co/omvtf8cDBi

[Nightingale Associates @FCNightingale]

47% price drop in 2 years, 91% price drop in 19 years.

440 Wheelers Farm Road Milford, Connecticut sold for $2.35 million.

Sold for $4.45 million in 2024.

Sold for $27.1 million in 2007.

176,420 Square Feet 11.8 Acres Built in 1988

-Patch
#commercialrealestate

[Harvard Business Review @HarvardBiz]

Motivation is less about employees doing great work and more about employees feeling great about the work they do. https://t.co/Tdw1y6EH0e