The Property Ticker Longstock Capital buys Birmingham office; Meta cuts 20% of Seattle workforce to offset AI investments… and more

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The Property Ticker Longstock Capital buys Birmingham office; Meta cuts 20% of Seattle workforce to offset AI investments… and more

sets and will now take over full

operational control.The mandate reflects QuadReal’s focus on driving performance

through a single experienced operator, leveraging Collegiate’s track record and

customer-focused model. The appointment also strengthens Collegiate’s scale (now

~11,000 beds across 22 cities) and deepens its relationship with institutional capital,

while highlighting continued investor conviction in UK PBSA given strong demand

fundamentals and alignment with major university hubs. (Source: CoStar)

• Meta cuts 20% of Seattle workforce to offset AI investments: Meta is cutting ~20%

of its Seattle-area workforce (~1,400 jobs) as part of a broader efficiency drive tied to a

significant pivot toward AI investment. The layoffs span multiple offices across Seattle,

Bellevue and Redmond, where Meta currently occupies ~850,000 sq ft, and come

alongside a sharp increase in capex (guided up to ~$145bn) to fund data centres and AI

infrastructure. While the company has not explicitly linked job cuts to real estate

decisions, it has acknowledged ongoing efforts to rationalise office space post-

pandemic.The reductions put renewed focus on Meta’s office footprint, particularly with

several leases nearing expiry (e.g. a ~309,000 sq ft Seattle lease due next year), offering

flexibility to downsize further. However, the strategy is not uniform - recent lease

renewals for ~146,000 sq ft in Redmond showcase a selective approach, balancing cost-

cutting with maintaining a presence in key tech hubs. Overall, Meta is continuing to

reallocate capital away from office real estate toward higher-priority AI investments

while keeping optionality on space.