Real Estate & Construction · Week of Nov 2, 2026
Office exits and a cooling housing market: the week in real estate
Ares Commercial Real Estate reported Q3 results, Realtor.com showed listings and contracts falling, and FirstService Residential added two communities.
Credit and housing data led the week. Ares Commercial Real Estate Corporation reported third quarter 2026 GAAP net income of $10.0 million, helped by a gain on the sale of a real estate owned office property, and said it repaid its $90 million secured term loan after quarter end. Realtor.com's October report described a market where new listings fell 7.5% year over year and homes under contract dropped 10.5% as 30-year mortgage rates averaged 7.33%, while active inventory rose for a fourth straight month.
Elsewhere, FirstService Residential announced two property management wins, in Baltimore and in Chalfont, Pennsylvania, neither with stated contract terms. Otis Worldwide Corporation said two of its elevators at Tianjin 117 received a Guinness World Records title. Greenberg Traurig added a stadium financing attorney in New York, and Draper Goren Blockchain Studio launched LenDb.ai, a free loan officer database built for AI assistants.
Ares Commercial Real Estate Corp
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS
Ares Commercial Real Estate Corp reported third quarter 2026 GAAP net income of $10.0 million, or $0.18 per diluted common share, and Distributable Earnings of $6.7 million, or $0.12 per share, including a $7,082 thousand realized gain on the sale of a real estate owned office property. Its current expected credit loss reserve rose to $139,325 thousand as of September 30, 2026 from $125,756 thousand at December 31, 2025, and the company says it is reducing office and real estate owned exposure.
Ares Commercial Real Estate Corporation
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS THIRD QUARTER 2026 RESULTS
In a second release, Ares Commercial Real Estate Corporation (NYSE:ACRE) said it fully repaid and terminated its $90 million secured term loan after the quarter ended. The Board declared a fourth quarter 2026 dividend of $0.15 per common share, payable January 15, 2027 to stockholders of record as of December 31, 2026.
Realtor.com
Active Inventory Grows as Sellers Keep Homes on the Market: Realtor.com® October Housing Report
Realtor.com's October 2026 report showed new listings down 7.5% year over year to 357,000, the steepest decline of 2026, while active listings rose 7.4% to 1,183,500 and the national median list price fell 2.2% to $415,000. Homes under contract fell 10.5%, the steepest annual drop since October 2023, which the company links to 30-year mortgage rates averaging 7.33%, 110 basis points above a year earlier.
Otis Worldwide Corporation
Otis Receives Guinness World Records™ Title for Tallest Elevator at Tianjin 117
Otis Worldwide Corporation said two of its SkyRise elevators at Tianjin 117, rising 597.2 meters, received the Guinness World Records title for "Tallest Elevator in a Building." Otis is supplying 266 units to the 117-story tower, which is scheduled for completion by the end of 2027, including what the company says is the most Otis double-deck elevators in any building.
FirstService Residential
FirstService Residential Selected to Manage Scarlett Place Condominium in Baltimore
FirstService Residential says it has been selected to provide full-service property management for Scarlett Place Condominium, a high-rise overlooking Baltimore's Inner Harbor. The release gives no start date or contract terms.
FirstService Residential
FirstService Residential Expands in Pennsylvania, Welcoming The Highlands Community Association
FirstService Residential says it was selected to provide full-service property management for The Highlands Community Association in Chalfont, Pennsylvania, in Bucks County. The release does not give contract terms, community size or the name of any previous manager.
LenDb.ai, Inc.
Draper Goren launches LenDb.ai, a free database of 224,000 US loan officers built for AI assistants and run day to day by an AI CEO
Draper Goren Blockchain Studio launched LenDb.ai, a free, lender-neutral database of 224,703 US loan officer records designed for AI assistants such as ChatGPT and Claude and listed in Anthropic's Claude Connectors Directory. The company says lenders cannot pay for placement, loan officers can claim and correct their profiles, and day-to-day operations are run by an AI CEO named Andrew that reports to a human board.
Greenberg Traurig, LLP
Greenberg Traurig Expands Stadium Financing & Development Team, Adding Real Estate Attorney Jason Goldstein in New York
Greenberg Traurig added real estate attorney Jason Goldstein, who joins from Winston Taylor, as a shareholder in its New York stadium and arena financing and development team. The firm says the hire is part of a broader sports law expansion that has included recent additions in Dubai, London, Denver and Houston.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not News Today Lines reporting.