Real Estate archive
Every Real Estate story, newest first. 1,873 stories
35 stories
- Real estate debt
Industrial's CMBS share gain comes with an 11% conduit tail
SASB portfolio financings carried $13.24 billion of the $14.93 billion securitized, and one of the year's biggest cleared above the sector's average leverage.
- Fundraising
The Fed repriced duration, and the refinancing wall got longer
A 4.1% median policy rate through 2027 moves the refinance past the exit dates most deals were written to.
- Deals
SL Green keeps Nearwater's rent and inherits a vacancy
Nearwater Capital's 37,563-square-foot lease at 245 Park empties 17,000 square feet at One Vanderbilt, same landlord, and the backfill is the truer read.
- Real estate debt
CIBC funds SkyREM's industrial refi on a three-year clock
CIBC's nonrecourse loan to SkyREM is priced off a full rent roll rather than a pipeline, a three-year bank term that shows the refinancing wall clearing without distress.
- Sectors
Grid access is now the gate for data center capital
At a record 37.7 gigawatts under construction across the Americas, the siting decision has become a power decision, and the largest proposed developments are going where the grid is.
- Real estate debt
The Fed's dot plot carries the underwriting news
A unanimous quarter-point increase, then a 4.1% hold projected through next year, removes the front-end cut bridge borrowers were counting on.
- Sectors
Border freight stalls, and industrial's trade leg wobbles
Truck activity on the northern border has flattened to early-2021 levels and is dragging on logistics demand in both countries; corridor warehouses are underwritten on throughput as much as on consumption.
- Fundraising
A 5 percent 10-year sorts CRE buyers from CRE bystanders
A unanimous quarter-point hike and a dot plot leaning toward another move hand the refinancing wall to whoever can write equity, not whoever can borrow.
- Real estate debt
Stockdale's $300 million credit book buys a pipeline, not a franchise
The Los Angeles owner-operator is lending where liquidity is thinnest, and the point is the deal flow the loans will see before anyone else does.
- Sectors
IMG renews at 304 Park, keeping 69% of its peak space
The five-year deal covers 90,202 square feet of a 130,655-square-foot footprint, leaving SL Green to test what Midtown South pays for the rest.
- Real estate debt
Three-year bridge prices a stabilized yield the asset must earn
An 80 percent LTV and a 6.45 percent debt yield put $50.4 million on Birwood Heights, but the loan is sized to stabilized income the asset hasn't yet earned.
- Deals
Prologis pays $49M for JFK warehouse, and the comp says Wildflower took the bid
The sale clears Wildflower's $48.1 million Barings bridge loan by $900,000, and comes in above the last Queens industrial comp, making College Point the better read on borough pricing.
- Deals
29th Street's $104 million Aurora basis clears at $72.5 million
A conservative agency-financed buyer paid 30% below the 2022 price for Peakline at Copperleaf, a mark for where Denver apartment underwriting now sits.
- Sectors
Dermody's Chicago infill project has to out-earn its own demolition
The 357,619-square-foot Berkeley redevelopment is a recycled site in one of the metro's best trucking positions, and the first lease rate will tell Chicago whether teardown-and-rebuild is a trade or a toll.
- Deals
Colliers closes sale of a two-tenant Ohio industrial box to Minneapolis REIT
At 257,120 square feet, SR Realty Trust is buying a rent roll with two names on it, a narrower bet than the spec sheet suggests.
- Deals
CBRE brokers 204-unit Sammamish sale for Nuveen, no price or buyer named
A 2002-vintage Sammamish asset pitched on bidding depth arrived without a price or a buyer, leaving the rent-spread bet behind the trade unverified.
- Fundraising
Brookfield buys the data center builder, not the data center
A minority stake in American Real Estate Partners puts Brookfield upstream of the buildings, in the development work that now decides what digital infrastructure gets built.
- Sectors
Embrey trades height for 296 units in Alamo Heights
A land lease and an entitlement waiver do the work in a submarket that normally caps apartment buildings at three stories.
- Real estate debt
Thorofare takes the lease-up risk on a $35M Savannah industrial loan
The floating-rate, interest-only structure leaves Thorofare with the credit and the sponsor with the optionality, in a market where tenants already have the leverage.
- Deals
Volta Global's two-year loan is a bet on the mall next door
A floating-rate note maturing around 2028 prices a 1979 Hialeah strip center against the 800 apartments going up next door, not against its tenants.
- The Wrap
At 5%, the 10-year decides who gets to wait
The real yield, at 2.6%, is what reprices property — and it favors capital with a clock long enough to wait out a refinancing.
- Deals
Sagard buys the warehouse Atlanta data centers will never build
A 400,800-square-foot Fulton Industrial acquisition shows how a competing land use has become the most durable part of an industrial rent roll.
- Real estate debt
Multifamily delinquencies are falling for the wrong reason
As bank delinquencies ease, rising charge-offs and lender-run sales describe a transfer of duration, not a cure.
- Real estate debt
Inland's $112M loan shows stabilized senior housing still has a bid
JLL placed the acquisition debt with a regional bank; the missing rate, leverage, term, and holder are what a rival would price first.
- Fundraising
Real estate equity now forms around the deal, not the blind pool
A zero-dollar sidecar, a $300 million raise that came back unchanged, and a $1.1 billion credit close describe a market assembling capital after the exposure is known.
- Sectors
A one-dollar rent decline hides a two-speed apartment market
Thirty-one of the top 50 markets cut rents in August while San Francisco grew at 11.9 percent; the national average flattens both.
- Real estate debt
Savills IM wins Bank of Italy nod for Italian direct lending
The €7.6 billion Italian equity book is the advantage behind Savills IM's new standalone lending platform.
- Sectors
The data center bottleneck moves to the substation
A pipeline nearly six times the installed base is being underwritten as a leasing story while the real constraint is a wire and a date.
- Fundraising
LNL taps Ares net-lease founder for structured capital build
A $15 billion net-lease record moves to a firm that has not said whether it will raise third-party money or run the strategy on its own balance sheet.
- Fundraising
Affordable housing equity is a bank product, and CIM-BGV knows it
Fifth Third joins Truist and Flagstar inside the CIM-BGV affordable housing fund. The next close will show whether the bank roster can widen beyond the three already in the room.
- Fundraising
UBS hands its U.S. consultant book to a career fundraiser
The succession puts a distribution specialist in a seat where allocator patience, not asset selection, is the binding constraint.
- The Wrap
Private credit now underwrites the lease-up itself
HPS, Dwight and Mesa West are financing the window before income arrives, and the first real price surfaces only at the extension.
- Real estate debt
Mesa West's 23-day close prices the sponsor, not the 1992 asset
A $27 million five-year loan on a $37 million Issaquah value-add shows private credit buying execution speed, with the renovation schedule as the collateral that matters.
- Sectors
NOI execution is a sponsor's edge; it can't fix the entry price
Lubeck's blocking-and-tackling case tells allocators what to screen for, and quietly concedes the part of the return no operator controls.
- Who's investing
Allocators now underwrite the operator
Cortland's CIO says institutions want managers who grow NOI without leverage, and the reporting template is where that gets settled.
5 stories
- Fundraising
Opportunity zones 2.0 turns state nominations into the scarcest form of capital
With $112B already raised in the program's first round and a Sept. 28 nomination deadline, a state's map, not an investor's tax bill, decides which projects get financed.
- Real estate debt
A life company prices Koreatown's nightlife as core retail
Northmarq's $29.3 million refinance for Chapman Market, a Koreatown dining center with no grocer, shows Voya pricing operator credit rather than a national anchor's lease guaranty.
- Deals
Stewards' $240M Broward purchase is priced in $3 stock
A brand-new Nasdaq listing becomes acquisition currency, and the sellers taking the shares are the ones underwriting Stewards' equity.
- Real estate debt
Avatar lends $6.45M against a hotel whose flag walked out
A 63% loan-to-value, two-year bridge on an unbranded Providence hotel is brand optionality, financed, with an exit that arrives before the renovation finishes.
- Sectors
Related starts leasing 336 rentals that will price the rest of Tuxedo Reserve
The first rent roll is the comp set for the phases Related has yet to build on the 1,200-acre site.