Real Estate archive
Every Real Estate story, newest first. 1,810 stories
3 stories
- The Wrap
A Forced Sale Sets the Price of Gated NAV
DWS's wind-down will turn appraisal marks into observable trades, and the liquidation comps become the reference the industry has avoided.
- Real estate debt
Corebridge's $180M takeout prices FIU's enrollment, not the building
A 98-percent-leased 2024 delivery takes a permanent loan with cash returned to the sponsors, and that combination is what this debt market is rewarding.
- Deals
Rubin Museum lists its Chelsea building to fund a traveling program
A 26-year hold bought for $22 million turns into an operating budget, and the buyer's underwriting, not the museum's history, sets the price.
37 stories
- Sectors
Franchisees are building Flex's recovery, and carrying its risk
The location count keeps compounding at the sub-scale end of coworking, where the risk is quietly landing.
- Fundraising
RREEF Trust's $200M wind-down tests what gated NAV marks are worth
A diversified portfolio sold into a market where almost nobody else is selling will convert an appraisal into evidence.
- Sectors
Two AI tenants fill a Flatiron building, and the bid stays narrow
Full-floor leases at 61 W. 23rd St. bring the repositioned Manhattan building to occupancy without making AI tenants a broad recovery story.
- Deals
Valencia office trades at $204 a foot, vacancy and all
Two September Southern California office sales priced within two dollars of each other, despite 8.5 points of occupancy between them; the gap is what the market is buying.
- Deals
Dulles flex trades at $200 a foot as the seller exits
Klein Enterprises cashes out of the corridor whose rents it credits to data-center competition, leaving Victoria and Lincoln holding a land option with tenants paying the carry.
- Deals
Oxford's Riverside sale pairs a leased 2018 building with a 1990 park
Sierra Ridge is buying two buildings that will not price alike, and the bundle is the point.
- Real estate debt
Nuveen buys a state template, not a spread
The $23.2 million close is New Hampshire's first C-PACE deal, and the precedent it sets for the next 381 units is the part that matters.
- Real estate debt
BREIT takes $105 million out of a fully leased industrial book
The $1.71 billion CMBS loan turns a stabilized 19-million-square-foot portfolio into funding for the data center rotation, and the extension options stay with the sponsor.
- Real estate debt
A $3.7B book in two years buys 13,000 more square feet
Ascent's two-year originations pace says the smaller-balance construction and bridge gap is where private real estate credit is clearing outside bank balance sheets.
- Sectors
AI leasing arrives one Flatiron floor at a time
Two 8,367-square-foot leases at 61 West 23rd Street show what AI demand looks like at the small end of Midtown South, where a 2016 basis does the work a rent roll cannot.
- Deals
Seefried buys O'Hare infill land at $1.125 million an acre
At roughly $55 of land per square foot of planned building, the deal is a bet on a 2027 rent.
- Deals
Chicago's $19M conversion sale prices a basis, not a market
An early Chicago office-to-apartment price arrives without the unit count or rents that would turn it into a comparable.
- Real estate debt
Avila's $390M raise fills the gap regional banks left in lot credit
Insurers and endowments are now financing raw-land and lot credit, where the take-down carries the risk.
- Deals
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.
- Deals
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.
- Deals
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.
- Deals
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.
- Fundraising
RREEF's wind-down is the supply event discretionary sellers avoided
A $203 million NAV REIT that never found fresh capital is selling a decade of assembled assets into a market where almost nobody else is selling.
- Sectors
Hanover's Lehigh Valley debut is its second new market in a month
The 358,234-square-foot Savage Road build is the firm's second ground-up entry into a new market in 27 days, and the payoff rests on the first lease signed.
- Deals
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.
- Real estate debt
The long end now sets the price of CRE debt
A 10-year stuck near 5% turns every 2026-27 extension into an equity-sizing question rather than a coupon question.
- Fundraising
Ares and PSP are buying origination, the scarcest input in logistics
With supply at a decade low, the joint venture's returns will be set by what Marq Logistics can source rather than by the size of the check behind it.
- Deals
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.
- Deals
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.
- Real estate debt
Multifamily's maturity wall is now a sponsor-equity test
Three years carry $757 billion of a $1.8 trillion decade, and the Fed's quarter-point turns a refinancing gap into a capital call.
- Deals
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.
- Deals
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.
- Real estate debt
A $5 million shell underwrites a $113 million conversion
A 2028 delivery date and a $5 million acquisition basis clear the Magnificent Mile conversion, with 37 percent equity carrying the construction term.
- Deals
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.
- Real estate debt
Student housing's refinance risk is a 2029 problem
Most of the $5.29 billion of sub-8% debt-yield paper matures in 2029 and 2030, straight into a declining enrollment curve.
- Sectors
New York's New Hurdle for Data Center Capital Is Disclosure
The moratorium has an expiry date; the reporting regime announced Monday does not, and that is the half a sponsor has to underwrite.
- Fundraising
A $30 million LIHTC check fills 38 percent of Mesquite's senior stack
The affordable senior financing path runs through credit equity and a pair of bank desks, and the size of the equity layer decides how many of these get built.
- Deals
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.
- Sectors
The office freeze is a financing verdict
A stalled pipeline will set the terms of every large lease expiring after 2028, and the effect will hit renewals before it hits rents.
- Sectors
Industrial's construction freeze is thawing at the small end
Cushman & Wakefield's cost guide shows small industrial projects inflating fastest at $144 per square foot, putting the infill scarcity premium under the one pressure owners cannot underwrite away.
- Deals
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.
- Deals
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.