The city council is moving forward with plans to build a 250,000-square-foot indoor water park at the Mall of America in Bloomington, Minnesota. Officials voted to spend about $100,000 to update the feasibility study of a nonprofit model to fund the $260 million project and conduct research on another funding method that would combine tax increment financing with private financing.

High Caliber Karting and Entertainment at Meridian Mall in Michigan has unveiled new features following a 25,000-square-foot expansion. The entertainment center added a 2,800-square-foot assault arena, 16 lanes of ax throwing, 15 lanes of throw ball, two VIP rooms and a 50-foot bar as part of the $2 million project.

Japan's Government Pension Investment Fund reports that monetary easing by the Bank of Japan has made investments in Japanese REITs more appealing than domestic stocks and bonds. REITs have become a "low risk, high return" investment since the expansion of stimulus in 2016, according to the report.

Growth in the FTSE Nareit All Equity REITs Index this year has demonstrated the resilience of REITs, and Nareit's John Worth points to strong performance among self-storage, residential and mall properties. "Even if we are on a bumpier road of recovery than many of us hoped or expected, we are still on strong footing and the aggregate performance is nothing short of phenomenal," Worth says.

American Assets Trust has acquired a four-building office campus in Bellevue, Wash., for $84 million. The buildings, which total 160,508 square feet of rentable space, are 83% leased.

Federal Realty Trust has acquired a shopping center in Fairfax, Va., for $33.8 million in an off-market deal. The 110,000-square-foot Twinbrooke Shopping Centre is anchored by Safeway.

The market for office deals continued to lag compared with 2019 levels in July, with transactions across the top 30 markets totaling $28 billion for the month -- a 45% drop from the same month two years ago, according to Reonomy. However, positive signs are evident in markets such as New York, Los Angeles and Boston, where total volume in the second quarter of this year was just 7% below Q2 2019.

This article highlights some of Prologis' efforts in the ESG space, including its push to reduce greenhouse gases and its Community Workforce Initiative, which places "an emphasis on revitalizing career pathways and creating economic opportunity in the communities where we operate."

Permeable surfaces, green roofs and other infrastructure solutions that help cities absorb water are important for resilience as climate change intensifies, according to landscape architects and urban designers.

The number of borrowers in mortgage relief programs has declined, but borrowers are likely in a stronger position than they were at the start of the pandemic due to increased equity linked to higher housing prices. "Such strong equity positions should help limit the volume of distressed inflow into the real estate market as well as provide strong incentive for homeowners to return to making mortgage payments -- even if needing to be reduced through modification," according to Black Knight's Ben Graboske.