Real Estate & Construction News Round-Up (07/27/22)

Pillsbury - Gravel2Gavel Construction & Real Estate Law

Pillsbury - Gravel2Gavel Construction & Real Estate Law

Europe’s energy infrastructure struggles under record heat waves, Wall Street tightens commercial real estate lending, blockchain technology and NFTs (non-fungible tokens) continue to transform real estate ownership, and more.

  • Banks are lending less and charging higher interest rates for commercial real estate property loans, restraining deal making and values. (Peter Grant, The Wall Street Journal)
  • Proposed legislation, the Construction Injury Prevention Act, would require U.S. construction employers to allow workers a 15-minute break every 4 hours year-round. (Julie Strupp, Construction Dive)
  • Europe’s energy infrastructure is starting to strain under the extreme heat that’s blanketing the continent and skyrocketing demand. (Todd Gillespie, Elena Mazneva, and Priscila Azevedo Rocha, Bloomberg)
  • As technology becomes more imbedded in transportation, road infrastructure will see significant advancements, including wireless electric charging and innovative construction materials. (Skip Descant, Governing)
  • Blockchain-enabled tokenization is projected to enable fractionalized ownership of commercial real estate properties, one example being the Empire State Building. (Andrew Singer, Magazine by Cointelegraph)
  • China plans to launch a real estate fund of 300 billion yuan ($44 billion) in a bid to help property developers with their debt crisis and restore confidence in the industry. (Reuters)

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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