Deals: archive
Every Deals story in Real Estate, newest first. 673 stories
18 stories
Decron's $114 million Miracle Mile buy prices the LA-Sun Belt spread
The firm's first purchase in nearly two years prices Los Angeles against the Sun Belt, and the seller's undisclosed 2023 basis is the open question.
Three equity partners split a Madison apartment building as a small conviction bet
The Duncan reached delivery with a bank lender and three equity partners behind it, which says more about how institutional capital is sizing Midwest multifamily than the ribbon did.
A $107,000-a-door Nebraska trade marks the cash-flow half of the apartment bid
A fully leased 1994 building in South Sioux City drew multiple offers at $107,000 a unit, the income side of a split multifamily market where the other half is underwriting scarcity.
The apartment bid reset lower; value-add buyers are setting the price
Seven trades in seven days after a slow summer say less about demand than about the basis at which sellers finally let go.
Garden Communities' Phoenix start is a payroll bet on a 2022 basis
A 504-unit project against Mayo Clinic and a $65 billion chip plant tests whether apartment supply is frozen everywhere or only where nobody is hiring.
Boston proposes $31.5M in tax deferrals to start four stalled projects
The city is testing whether deferring a property tax increase can move an approved project toward groundbreaking when the construction loan that stalled it has not changed.
Portman buys 1,100-unit density with a 198-year covenant
The $15 million tax break covers 39 apartments; the zoning envelope it unlocked is worth far more than the $15 million.
Spandrel turns a $36 million foreclosure into Charlotte's first W
At the auction price, 200 hotel keys and 399 apartments work in a district whose office vacancy still runs 24 percent.
Atlantic City's Steel Pier asks $85 million for a development option
At twenty times the family's 2011 basis, the listing prices entitlements that have sat unused for two decades against land comps that trade on logistics math.
Related's $33M Wynwood sale is mostly a seller note
With $26 million of the price returning as seller paper, the trade prices a Casa Tua lease, not the submarket.
Equus buys a delivered Dallas box; Hines cashes the argument
Hines converts a 2024-vintage development into cash while Equus takes leased square footage a frozen construction market cannot quickly replace.
Flagship's record $51M price rides on four operating rooms
The largest single-asset purchase in Flagship Healthcare Trust's history prices a surgery center's case volume above its 2008-vintage shell and sets an ophthalmology benchmark 60 miles from Charlotte.
Nashville infill's value now lives in the conversion spread
The Stateline sale prices a former industrial building at roughly $395 a square foot, with no cap rate, occupancy or conversion cost disclosed.
Institutional capital keeps paying for the IOS operator, not the lots
Principal's recapitalization of Triten's 17-property industrial outdoor storage portfolio shows where the value sits in niche industrial: with whoever runs the yard.
Clarion buys ESR's Amiens logistics box as spec supply freezes
The unlet quarter is the trade: it pays only if the Amiens development freeze outlasts the lease-up.
Galvanize's Milpitas entry is a power trade at $313 a foot
The Bay Area debut pushes the strategy to 3.5 million square feet nationwide, but with the campus 95% leased the return now rests on what the owner builds into the buildings rather than what the leases collect.
San Francisco's second market-rate start since 2023 is a 2028 bet
A $61.7 million PNC construction loan turns a Mission District apartment project into a wager on late-2028 delivery, not current rents.
Barings buys the Mantova Sud consent and carries the lease-up
No price, no tenant, and a construction schedule already running: a European value-add strategy takes 67,000 square meters of permitted logistics space on a 145,000-square-meter site in Mantova Sud.
1 story
Prosper's $650M Bugatti tower is a land-basis trade
The Brickell acre is under 8% of the $650 million project; the badge has to sell the rest.
17 stories
A family office bought a 3.8% loan with 100 Modesto doors attached
A 3.8% assumable HUD coupon carried more of the $26.6 million price than the Modesto rent roll did, and the apartment market's clean trades are clearing on the same math.
Galvanize's California debut prices a retrofit at $313 a foot
A 95%-leased industrial campus leaves almost no mark-to-market to harvest, so the value has to be built into the buildings rather than collected from the roll.
Inland buys a 2023 storage site and hands it to its own manager
The rebrand from ExtraSpace to Devon keeps the management fee inside Inland; the undisclosed price would settle how much that matters.
Decron returns to L.A. with a $699,000-a-door basis trade
Decron's first Los Angeles purchase in nearly two years is a $114 million, $699,000-a-unit basis trade on Miracle Mile, anchored by fully leased retail and a below-replacement price.
A $41M Henderson sale prices Green Valley at $250,000 a door
The financing behind the price is the more useful number: a 60 percent loan on 164 units tells every other Green Valley owner what their collateral carries.
Bascom buys 370 North Dallas doors at a foreclosure's basis
A lender-set basis on 1980 workforce stock is the part of the Dallas apartment trade that rent growth no longer explains.
Midtown pays $86 million for a three-decade Doral assembly
Knighthead's 73 percent advance is a bet on the land beneath 13 buildings Midtown cannot replace, not on the rent roll.
Bell buys job density while the apartment bid splits
More than 500 apartments on two coasts, bought while a Bell Partners Atlanta community sold 11% below its 2017 cost, puts the multifamily split on one firm's ledger.
Borough pays $234 a buildable foot for a Fulton corner
An $83.5 million land check with no rent roll attached is the apartment trade's operator-and-location split in its purest form.
ESJ buys a 2021 Kannapolis build at a replacement-cost discount
Pearlmark's $19.9 million loan covers two-thirds of the $29.5 million deal, which the buyer says undercut what the same building would cost to construct today.
Enclave's Alabama DST asks $9.3 million for one tenant's lease
The raise is small enough to read as a channel test, and the value case rides a tier 1 supplier's credit rather than North Alabama land.
Rosewood buys out its partner and skips the market test
The East Plano buyout closed with no disclosed price, leaving a land thesis to carry 200,818 square feet and no market test of whether the underwriting was aggressive or cheap.
EQT buys Southern California scarcity and inherits a rent reset
The Rexford portfolio splits into coastal land nobody can replicate and Inland Empire scale that has to earn its rent, and the entry yield says which half is the job.
Partners Group JV pays full price for a platform
At 98.2 percent leased, returns have to come from rent growth and a repeatable operating business, not a discount.
NEPI exits the Baltics at 13% over book
A fund buyer's above-appraisal bid for a single Vilnius center shows where exit liquidity for the region's retail actually sits.
A pension fund buys Sainsbury's credit and calls it logistics
West Midlands Pension Fund's Bedford box is underwritten by a lease and a tenant's machinery, not by the land.
Vaja's $26M Astoria parcel is a bet on zoning
Land at roughly $176 a buildable foot is the cheap half of a 31st Street position Vaja has spent $37.4 million assembling.
4 stories
Rexford clears its rent-reset portfolio, and industrial gets a printed yield
A 5.5% forward yield on rents 28% above market sets the first public comp for industrial's most awkward asset to price.
Holterbosch warehouse fetches $95M, pricing the land, not the lease
The sale gives Long Island City's industrial waterfront a headline number while the parcel's highest use and square footage remain undecided.
Grand Peaks buys Beaverton's 424 units at $201,000 apiece
A merchant exit at full basis tests whether recent-vintage suburban Portland product has a market price or just one buyer's number.
$67M DuPage sale prices two garden assets 13% apart
Two Lombard and Naperville garden assets from one seller clear at $200,000 and $177,100 a door, a spread that says more about buyer appetite than the total does.