Real Estate archive
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- Deals
Manhattan investment sales fall 27% in Q3 to $2.5B as deal count rises
Avison Young's report puts the borough's annual dollar pace above 2025 but below its 10-year average, with office at nearly half of quarterly volume and REITs taking 36%.
- Fundraising
ExchangeRight fully subscribes $17.8m debt-free DST for Essential Income REIT
The closed six-property portfolio is designed to pay a 5.20% annualized distribution covered by in-place rent.
34 stories
- Real estate debt
Private-label CMBS holds half of delinquent multifamily debt, Trepp finds
Private-label deals hold 12% of the $635.82 billion tracked universe but 50.2% of the $11.6 billion delinquent debt, with a 7.69% delinquency rate.
- Real estate debt
Barings provides $138.6M first mortgage to Hillwood for Rancho Cucamonga industrial
The two-building Speedway Commerce Center phase is fully leased and totals about 656,000 square feet, per Connect CRE.
- Real estate debt
Genting Americas refinances Miami's Omni Center with $500M loan
Wells Fargo is administrative agent for a lender group on the 1970s mixed-use property, per public mortgage documents cited by Commercial Observer.
- Deals
Gilbane pays $37 million for rezoned Sheepshead Bay development site
Ariel Property Advisors arranged the sale of 2185 Coyle St., which carries 408,400 buildable square feet on a 96,000-square-foot lot.
- Real estate debt
Griffin, Vornado and Rudin close $3.3B construction loan for 350 Park Avenue
Wells Fargo and J.P. Morgan Chase lead the lending syndicate on the 66-story tower; Citadel will lease 1.05 million square feet with completion set for 2032.
- Sectors
Walker & Dunlop's Mikkelsen: 65% of 120 deals since May need no repricing
Seven or eight deals expected to close in the week before the Oct. 21 webcast were delayed, and an executive said Treasury yields above 5% have affected lender and buyer valuations.
- Deals
Oberndorf and Bascom paid $53.1m for 117-unit Museum Park Apartments in San Jose
The Class B+ complex has never been renovated, and the partnership plans a value-add renovation program, according to Connect CRE.
- Real estate debt
Trepp: 25.3% of performing Texas floating-rate Agency multifamily balance reports sub-1.0x DSCR
$3.04 billion across 130 performing loans reports net cash flow coverage under 1.0x, and 2021-22 vintages hold 87.5% of the delinquent floating-rate balance.
- Sectors
L.A. County apartment sales climb 44% to $3.3 billion as per-unit price falls
Colliers puts year-to-date volume for 50-plus-unit properties at $3.3 billion; occupancy held at 94.1% and effective rent rose $6 to $2,428 a month.
- Deals
Brasswater pays more than $48M for two Palm Beach County Hampton Inns
Axonic Capital supplied $42.2 million of debt on the hotels, which seller Hospitality Investors Trust bought for $43.6 million in 2015.
- Deals
Elmington and American South Capital Partners pay $55 million for Lawrenceville apartments with 2023 income caps
ASCP supplied $18 million in equity, roughly a third of the purchase price, and the county agreement sets income bands across all 260 units.
- Deals
BGO buys fully leased Wrentham, Mass., industrial building for reported $34.9M
The 132,055-square-foot building, completed in 2023, was sold by Bluewater Property Group and Affinius Capital.
- Sectors
Distressed commercial property sales rise 26.4% while nondistressed trades rise 50.3%
MSCI data cited by The Real Deal on Oct. 21 show $13.2 billion in distressed trades in the first nine months, up from $10.5 billion; overall volume rose nearly 50% to $560 billion.
- Sectors
HIC Land names Victor Padilla co-CEO as it shifts to master-planned communities
Padilla, the founder's first hire and previously director of operations, takes the role as the South Carolina firm shifts to larger master-planned communities with multifamily and commercial pieces.
- Deals
CBRE agrees to buy Onnec for $610M, plus up to $400M earnout
Onnec installs and maintains data center cables and equipment racks across Europe and Asia Pacific.
- Deals
Vornado, Griffin, Rudin close 350 Park Ave joint venture with $3.3B loan, Citadel lease
Citadel takes 1.05 million square feet in the 66-story tower, where a Griffin affiliate holds 60% of the equity.
- Sectors
Brooklyn edges Manhattan below 96th Street as submarket volume drops 43.6%
Ariel Property Advisors counted $693.8 million of Brooklyn apartment sales against $685.2 million in Manhattan below 96th Street.
- Fundraising
Apollo to invest $1.34 billion for two-thirds of $2 billion UDR multifamily venture
UDR keeps one-third, runs the 19 communities and holds a five-year option to repurchase Apollo's stake.
- Real estate debt
BridgeCity Capital lends $36.2M for Long Island City condos
Winspire Development's 41-unit building at 10-56 46th Road is slated for completion in spring 2028.
- Deals
Real Capital Solutions, Dunton pay nearly $23.8M for Denver Tech Center office
The $98-a-square-foot price for Terrace Tower is 37 percent below what Sun Life Assurance Company of Canada paid in 2012.
- Sectors
Omnes Capital backs Heim Datacenter platform through CEP2 fund
Heim plans its first data centers in Finland and aims to expand across Europe; financial terms were not disclosed.
- Real estate debt
Anchor Loans provided $58.5M construction loan for two Deltona BTR projects
Agador Spartacus closed the financing for 153 homes at Magnolia Cottages and 126 at Magnolia Villas, Connect CRE reported.
- Fundraising
Carlyle files Form D for third Europe real estate feeder fund
The Oct. 19 notice lists an undisclosed offering amount and zero sold, with no strategy, target or investors stated.
- Real estate debt
Affinius provides $94M lease-up refinancing for Hillwood's DFW warehouses
The three buildings at Crossroads Logistics Park in Midlothian total 1.2 million square feet and were built in 2023.
- Deals
OBREM and Bascom buy San Jose's Museum Park Apartments for $53.1m
The 2002-built, 117-unit class B+ complex is OBREM's first California purchase in over a decade, its managing director said.
- Real estate debt
Newmark arranges $369 million Fannie Mae facility for April Housing's Florida portfolio
The interest-only facility splits into a $221.4 million fixed-rate draw and a $147.6 million floating-rate draw across 11 properties.
- Deals
Radnor, Madrone, Morehouse and Spelman break ground on $147M Atlanta student housing
The Den at Eight50 West is planned for 793 beds near Morehouse and Spelman, with construction under way since July 2026 and occupancy targeted for fall 2028.
- Fundraising
Apollo funds to invest $1.34B in $2B UDR apartment joint venture
UDR keeps a one-third stake, manages the 19 communities for a fee and holds an option from the fifth anniversary to repurchase Apollo's interest at a 7% to 7.5% return.
- Who's investing
OZ 1.0 investors must recognize deferred gains on Dec. 31, 2026; rollovers generally barred
About 25,000 investors hold more than $100 billion of deferred gains, and unfinished OZ 1.0 projects face new property and funding tests.
- Sectors
JLL says electricity costs are pulling energy efficiency into CRE underwriting
Electricity in major markets is 11% to 91% more expensive in real terms than in 2020, JLL says, widening the operating gap between efficient and inefficient buildings.
- Fundraising
PSP Investments and Nuveen launch $790 million grocery-anchored retail venture
The venture has closed on 19 open-air shopping centers totaling about 3 million square feet across eight states, including two portfolio deals.
- Deals
Discovery Senior Living explores sale above $1 billion
Reuters reports the operator of roughly 450 communities in 40 states is working with William Blair on a potential transaction.
- Real estate debt
Northwind Group closes $1 billion real estate credit fund, double its target
The lender set a $500 million goal in January 2025; the fund is nearly 60% deployed and typically writes $100 million to $200 million senior loans.
- The Wrap
PHP and GIC agree to form $938M UK hospital joint venture
PHP expects about £500 million ($670 million) of net proceeds to repay bridge financing from its 2025 Assura acquisition and a £266 million term loan.
4 stories
- Real estate debt
JLL places $49.75M Forbright Bank bridge loan on Thousand Oaks campus
Alta West Partners bought Lakeview Innovation Center at 50% leased in September 2024 and has since filled the property, according to Connect CRE.
- Real estate debt
Kam Sang affiliate buys $290M Downtown Los Angeles office loan at undisclosed discount
Wells Fargo Center South, a 45-story Bunker Hill tower, was about 42% leased when Newmark closed the loan sale.
- Deals
Related Ross paid $64M for North 40 office complex in Boca Raton
The 1984-vintage complex is 74 percent occupied and sits less than a mile from the 124-acre BRiC campus Related Ross bought about two months earlier.
- Real estate debt
Alta West Partners closed $49.8M Forbright Bank bridge loan on Thousand Oaks R&D campus
Leasing and capital improvements at the fully leased campus lifted net operating income more than 170 percent, JLL said.