Real Estate archive
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26 stories
- 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.
- 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
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.
- 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.
14 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.
- Fundraising
High Street Residential, Barings start 501-unit Redwood City project
The two buildings, scheduled to deliver in 2029, will hold 252 units at 1555 El Camino Real and 249 at 113 Beech St.
- Deals
Michelin North America buys 2M-square-foot Wilmington distribution site for $151M
Silver Creek Development sold the Wilmington property it bought for $126 million in 2021; Michelin already occupied the building.
- Sectors
September multifamily starts fall 25.9% year over year; permits top starts by 154,000 annualized units
Permits ran at a 503,000 annualized rate against 349,000 in starts, a gap Leaselock economist Greg Willett links to financing costs.
- Real estate debt
Blackstone's six Blackjack apartment properties enter special servicing after 15 communities sold
The 1,842 remaining units in the 6,671-unit Blackjack Portfolio transferred after 15 communities were sold, per Multifamily Dive.
- Sectors
Boston life-sciences vacancy reaches 28.1% and venture funding declines across three largest U.S. hubs
Savills reports put Bay Area vacancy at 23.8%, down 20 basis points from a year earlier.
- Real estate debt
Trepp: $3.83 billion of Denver multifamily debt sits on watchlists
The monitored balance equals 13.6% of the market's $28.24 billion, while the Denver-Aurora-Centennial MSA delinquency rate runs at 1.13%, according to Trepp.
- Deals
Pine Tree buys SITE Centers sponsor stake in $644M retail portfolio
The 10-property, 3.5 million-square-foot portfolio spans nine states and is primarily grocery-anchored; terms were not disclosed.
- Real estate debt
ACORE Capital lends $45.5M to refinance 511 Fifth Avenue
Meridian Capital Group negotiated the nonrecourse loan for a Wharton, Aurora and ACHS venture whose recent signings include GE Aerospace, WeWork and Wavestone.
- Real estate debt
Nuveen Green Capital closes $68.6M C-PACE for Fredericksburg's The Meuse
Administered through the Texas PACE Authority, the financing splits $53.2 million for a Kimpton hotel and $15.4 million for retail.
- Fundraising
Endeavor Real Estate Group closes $210M Texas-focused value-add fund
Expected leverage and co-investment could carry aggregate capitalization above $3.0 billion, subject to investment activity and market conditions.