Invesco is in talks to merge with State Street’s asset-management business. State Street’s asset-management unit manages nearly $4 trillion in assets while Invesco oversees $1.5 trillion in assets and manages a large ETF business.
Pimco also has become a more active real estate investor after its parent, Allianz SE, put the firm in charge of managing its Allianz Real Estate investment business. Between its own investments and those made by Allianz, Pimco acquired $12 billion in private commercial property between January 2020 and June 2021. The combined Pimco and Allianz real-estate business also originated or invested in $7 billion in real-estate loans during that time.
Median household income was $67,500 in 2020, down 2.9% from the prior year.
National asking rents rose 10.3% in August, measured on an annual basis. That marked the first double-digit increase in the more than 20 years this data has been collected.
Shares in Chinese commercial-property developer Soho China Ltd. tumbled 35% Monday, after Blackstone Inc. abandoned a $3.3 billion takeover in the face of an unexpectedly long regulatory review.
The business is growing rapidly. One group of crypto lenders has $25 billion in loans outstanding to individual and institutional clients, up from $1.4 billion a year ago.
Between Aug. 3 and Aug. 26, airlines dropped approximately 77,000 domestic flights in the United States as the Covid-19 Delta variant flared.
In April 2020, 814,000 rooms — or 15% of the U.S. hotel room inventory — closed. That figure has dropped to around 2% in June 2021, just over 100,000 rooms.
Offices in 10 major U.S. cities were just 33.1% occupied in the week ending Aug. 25. That figure is a slight increase over the prior week but down from a 34.8% peak in late July.
Asking rents for houses rose nearly 13% for the year to date through July, the highest annual increase in the past five years. The sharp rise partly reflects increasing demand from people who can’t afford to buy homes, and the slow supply of new houses as construction trails historical levels relative to population growth.
