Nathaniel Christian Group

The Burnsville Center Mall in Minnesota. If you want to gauge investor demand for suburban mall properties, head to Burnsville, Minnesota. Last week, a $63 million loan secured by about half of a 1 million square foot mall in the Minneapolis suburbs hit the auction block. The collateral backing the loan was valued at $137 million in 2010.... When the auction started, the opening bid was $7 million. When the loan finally sold, the winning bid was just $17 million, or a more than 80 percent drop from the value of the collateral. This amounted to a loss of over $40 million to the loan’s bond holders.

New York has the most valuable real estate in the U.S. at $2.8 trillion slightly more than the entire GDP of the United Kingdom for 2019. In fact, this is greater than the GDP of all but just five countries India, Germany, Japan, China and the United States. The value of New York is comparable to the combined market value of tech giants Apple and Microsoft.

WeWork Is on the Road to Bankruptcy - In September, WeWork was forced to pull the plug on its ill-fated initial public offering. Already hurting for cash, WeWork has been thrown into a veritable financial death spiral thanks to coronavirus-induced closures. There does not appear to be a way out of its mess. It now appears very likely to me that the company will not survive the current economic crisis.

Home prices in the United Kingdom dropped ever so slightly year-over-year in June, the first annual drop since December 2012. Pricing across the country was 0.1 percent lower last month than it was in June of 2019, according to a study by mortgage lender Nationwide Building Society and reported by the Guardian. Prices fell by 1.7 percent from May to June, a more significant drop than the 1.4 percent seen in December 2012.... The flattening of prices is directly related to the coronavirus pandemic, said Nationwide’s chief economist Robert Gardner, who called the slowdown unsurprising. Gardner predicts that activity will pick up but remain below pre-pandemic levels as lockdown measures are eased in the U.K. Better performance in April and May appears to have buoyed the market on a quarterly basis no region of the country saw pricing drop from Q2 2019 to Q2 2020.

The largest share of the world’s real estate billionaires are from China, according to The Real Deal’s analysis of Forbes’ 2020 World’s Billionaires List. Chinese billionaires comprise almost 42 percent of all real estate billionaires, followed by the United States and Singapore, which have 22 percent and 4 percent, respectively. China’s real estate billionaires also collectively have the highest net worth of all global real estate bigwigs. About $344 billion or about 49 ...percent of the world’s real estate billionaires’ wealth comes from China. That’s followed by the United States’ $152.8 billion and the United Kingdom’s $29.4 billion, which comprise 21.7 percent and 4.2 percent, respectively, of all real estate billionaires’ wealth. Still, Chinese billionaires aren’t the wealthiest on average. In countries with more than one real estate billionaire, the United Kingdom is home to the wealthiest ones, who have an average net worth of $4.2 billion each.