New office construction faces twin post-COVID-19 pandemic pressures. On the one hand, higher Federal Reserve interest rates designed to fight inflation that arose from pandemic supply chain shortages make it harder and more expensive to finance new projects.
The first groundbreakings are expected later this year. The firm has formed a joint venture with Shopoff Realty Investments and raised $10 million of investor capital that will be used to finish several upcoming projects.
/PRNewswire/ Shopoff Realty Investments ("Shopoff"), and The Urban Pacific Group of Companies have created a joint venture partnership to further advance.