The owner of Saks Fifth Avenue is converting parts of department stores into co-working spaces with WeWork, a strategy that marries the popularity of remote work with the struggles of bricks-and-mortar retail. The new venture is called SaksWorks.

Cushman & Wakefield will make a $150 million investment in the planned merger between WeWork and a public company later this year. That merger, expected to value WeWork at $9 billion including debt, will cap off the firm’s effort to reconstruct its balance sheet following the high-profile collapse of its planned initial public offering in late 2019.

Firms sold $24.5 billion of CRE CLOs this year through July 31. That is already a full-year record for data going back to 2014, beating 2019’s previous $19 billion peak.

The Biden administration announced a new federal moratorium on evictions, bowing to pressure despite White House officials saying they lacked the legal authority to do so. The action aims to buy states and localities more time to distribute about $47 billion in rental assistance as just $3 billion of that money had reached tenants and landlords.The CDC said its new order will last through Oct. 3.

The FTSE Nareit Equity Apartments index, which tracks landlords, is up 42% since January, trouncing the S&P 500’s 17% gain. Median rent has risen more than 10% over the past year.

Foreigners purchased $54.4 million of U.S. residential real estate in the year ended in March, which is down 27 percent, the lowest level on record since NAR began collecting the data in 2011.

$144.7 billion worth of commercial property sold in the second quarter of 2021, more than the average for that quarter for years 2015 to 2019. Most popular with buyers are multifamily buildings and properties in Sun Belt cities.

CBRE will buy a 60% stake in Turner & Townsend for $1.3 Billion. The deal between world’s largest commercial real estate services firm and London-based project manager targets alternative energy efforts.

The vast majority of the 1.55 million homeowners who are seriously delinquent—meaning they haven’t made mortgage payments in at least 90 days—are in active forbearance. That represents about 2.9% of the 53 million active mortgages, down from a high of about 4.4% in August and September 2020.

Athene Holding Ltd., the insurer and annuity seller backed by Apollo Global Management Inc., agreed to acquire a mortgage lender from Fortress Investment Group as it seeks to pick up assets in the U.K. With the purchase of Foundation Home Loans, Athene will pick up a 3 billion-pound ($4.2 billion) portfolio of mortgages to be managed by Apollo.