NATIONAL

'Frightening Tsunami': Office Investment Nose-Dives In Q1 To Lowest Point Since 2010
BisNow
Investment in office properties across the country fell 68% in the first quarter to $10.7B, the lowest level since 2010 and an indicator of the degree of deep freeze property markets plunged into after their most challenging year in more than a decade.

CALIFORNIA

Brookfield's Gas Co. Tower In Downtown LA In Receivership
BisNow
Brookfield's Gas Co. Tower, one of a handful owned by Brookfield's Downtown LA office-focused fund, has gone into receivership. Citi Real Estate Funding and Morgan Stanley, commercial mortgage-backed securities lenders for $350M in debt on the property, filed a lawsuit last week in Los Angeles County Superior Court asking the court to appoint a receiver as an alternative to bankruptcy, The Real Deal reported.

FLORIDA

Residential Development Plunges In South Florida As Rising Costs Hold Back Construction
BisNow
Despite South Florida's status as one of the fastest-growing regions in the United States, its pipeline of housing units is slowing sharply. New residential housing permits in South Florida dropped 21% in 2022 compared to 2021, the Sun Sentinel reported, citing data from Point2Homes. 

PENNSYLVANIA

Moment of clarity? Judge's order could settle Allegheny County assessment questions
Post-Gazette
In a decision issued Tuesday, Pennsylvania Commonwealth Court President Judge Renee Cohn Jubelirer ordered the state tax equalization board to recalculate the common level ratio used in those hearings to find a property's assessment after fair market value has been determined.

TEXAS

Tarrant Appraisal District Extends Property Value Protest Deadline
NBC 5
The Tarrant Appraisal District is extending the deadline for property valuation protests until May 30 and says they're working to improve the functionality of their website including bringing their Automated Market Value tool back online.

Appraisal district OKs audit timeline despite chairman's opposition at packed meeting
victoriaadvocate.com
With several dozen community members surrounding the room, board members of the Victoria County Central Appraisal District voted Wednesday afternoon to begin a third-party audit on May 1 or as soon as possible. The vote split 3-1, with board Chairman Lou Svetlik being the only member to oppose. Board Member Ashley Hernandez was absent.