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Private Real Estate Daily

from Private Wealth Daily

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The lead

L&G funds its first U.S. multifamily development in Concord, Massachusetts

The $1.6 trillion manager says it expects to acquire more existing apartments than it builds, given the difficulty of starting construction.

The Wrap

What five industrial deals show about pricing by building function

Amazon paid $195 million in Chicago, a Fort Lauderdale campus sold for more than triple its 2013 price, and a half-leased flex building outside Boston fetched about $93 a square foot.

Deals

BH3 joins Dacra and L Catterton to revive Miami Design District office tower with 40% more space

The 20-story project would carry 250,000 square feet of office, up from 180,000 in a 2022 plan that never landed tenants or a construction lender.

Real estate debt

Bank OZK finances construction of 282-unit Yonkers rental at Ridge Hill

A joint venture of Saber-Hightower, Rafferty Real Estate and Eagle Realty Group has started The Ibex at Ridge Hill, a $140 million project with 28 affordable units.

Fundraising

Macquarie Capital takes a stake in Asia-Pacific data centre platform Zerra DC

The size of the investment was not disclosed, and AGP, which founded the platform, remains Zerra's majority shareholder.

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