top of page

The socimi (real estate investment trust) JSS Real Estate, under the control of the Swiss bank Safra Sarasin, has acquired the property occupied by Movistar Plus+ in Tres Cantos for a price of 79 million euros. The asset, located on Avenida de los Artesanos, has an approximate area of 42,000 square meters.

According to the information provided by the socimi, the acquisition was made from a North American fund and will be financed through their own resources and external funding, which is yet to be determined. The property is currently leased to the subsidiary of the Telefónica group under a long-term contract. It houses television studios and offices dedicated to technical services and production.

With this acquisition, JSS Real Estate expands its portfolio of real estate assets, which already includes a recently purchased building at Avenida de los Artesanos 6, as well as properties located at Avenida del Camino de Santiago 40 and Calle Ríos Rosas 24, where the headquarters of FCC and the offices of Canal de Isabel II are located, respectively. At the end of the previous fiscal year, the socimi reported a net worth of over 49 million euros and a net turnover of 3.2 million euros.

April 3 (Reuters) - United Wholesale Mortgage was hit with a proposed consumer class action on Tuesday in U.S. court accusing it of scheming with brokers to push home-buyers into expensive mortgages, costing them billions of dollars in excess fees.

Four residents of North Carolina, Florida and Tennessee filed the lawsuit, opens new tab in federal court in Detroit against UWM Holdings (UWMC.N), opens new tab and related entities, including United Wholesale.

The lawsuit alleged that UWM engaged in a mortgage loan “steering enterprise” with "captive" brokers in violation of federal racketeering laws and other provisions. The complaint said hundreds of thousands of mortgage loans are at issue nationwide.

Pontiac, Michigan-based United Wholesale, which bills itself as the country’s largest home mortgage lender, on Wednesday in a statement called the lawsuit a "sham" and said it will "defend these allegations to the fullest extent permitted by law."

Details of the alleged mortgage-lending fraud scheme were first published on Tuesday by startup Hunterbrook Media, which is affiliated with the hedge fund Hunterbrook Capital. The media outlet said Hunterbrook Foundation shared data analysis and research with Boies Schiller Flexner, the firm that filed the lawsuit.

Wholesale lenders don’t interact directly with prospective borrowers but instead use a network of mortgage brokers, who in turn engage with home buyers. The mortgage industry’s other channel is retail-focused, where a buyer works with a loan officer at a financial institution. No brokers were named as defendants.

Mortgage brokers in the wholesale arena are supposed to be independent and shop around to offer would-be borrowers a range of options, the consumers’ lawsuit said.

United Wholesale, according to the complaint, “corrupted a large swath of ‘independent’ brokers” — using them essentially as employees who could steer borrowers to United Wholesale mortgages that were not in the best interest of the consumer.

Based on a new report by global property consultant JLL, as demand for high-quality and differentiated office assets intensified during the pandemic, highly amenitized office buildings are expanding their outperformance against the broader market, particularly those that offer enhanced gathering spaces and prioritize wellness.

JLL says highly amenitized buildings--assets with 10 or more tagged amenities and at least one differentiated offering like a roof terrace or full-service fitness center--have resisted the broader downsizing trend impacting the U.S. office market. These buildings have collectively gained 23.3 million s.f. of net absorption since the onset of the pandemic, while the remainder of urban Class 'A' product has lost more than 50 million square feet of occupancy.

Differentiation and quality are the primary drivers of rent premiums gained through amenitization: while buildings with fitness centers only generate a 0.5% rent premium to peer assets, buildings with a full-service fitness center inclusive of locker room and shower facilities generate a more than five times larger rent premium than baseline. Similarly, buildings with some form of food service or restaurant in the building are only associated with a negligible 0.1% rent premium against peer assets, but buildings with the more enhanced offering of a food hall generate a 1.4% rental premium against peers.

Many of the strongest rent premiums are associated with enhanced outdoor gathering spaces: outdoor roof terraces, and courtyards with outdoor seating areas generated the most significant rent premiums against peer assets of the amenities analyzed, says JLL.

bottom of page