LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Fed’s Loan Officer Survey: CRE Lending Standards Are Largely Status Quo National + Finance | May 7, 2024 Apartment Rent Growth Expected to Accelerate in 2024’s Second Half National + Apartments | May 8, 2024 FEATURED STORY National CRE News In Your Inbox. Sign up for Connect emails to stay informed with CRE stories that are 150 words or less. More National Stories More Stories Connect CRE & Industry Events Load MoreMore Events Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.comPLEASANT APARTMENTSRichfield, MNChicago & Midwest + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$1,375,000No. of Units:11Cap Rate:6.05GRM/GIM:11.25Year Built:1961Year Renovated:2020Lot Size:0.28 AcresNo. of Stories:3APN:27-028-24-24-0017Zoning Code:Multi-FamilyNo. of Parking Spots:11Buildable Sq ft Min:11400 Sq ftBuildable Sq ft Max:11400 Sq ftOpportunity Zone:NoBuy Side Fee:$1Price per unit:$125,000Learn MoreMOD at Riverwalk IIReno, NVPhoenix & Southwest + Apartment BuildingsListing Status:AvailableListing Type:Call for offersNo. of Units:69Year Built:2022Building Size:79443 Sq ftLot Size:0.787 AcresNo. of Stories:5APN:011-025-10Zoning Code:MD-PDOpportunity Zone:NoLearn MoreTech Village NorthLubbock, TXTexas + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$4,995,000No. of Units:25Average Occupancy:93Year Built:2017Building Size:45000 Sq ftOpportunity Zone:NoPrice per unit:$199,800Learn MoreView all apartments Hone your competitive edge today with Connect Classroom, an accredited online Continuing Education provider offering CRE focused courses you can take on demand. Earn the credit you need with engaging, thoughtfully designed courses for commercial real estate brokers, appraisers, lenders, architects, and lawyers from a news source you already know and trust. Courses available now Explore courses Continuing Education Architect Courses We work with the industry's leading subject matter experts to create quality architect CEU courses from the ground up. Continuing Education Attorney Courses We provide quality CLE that is both easy and convenient to complete, backed with the best customer experience possible. Continuing Education Broker Courses Whether you’re starting a new career or skilling up, we have certified online courses for Real Estate Agents and Brokers. Companies achieve great success when aligned around a common goal and brand story. The experts integrated into our team at Connect Creative span every marketing and communications discipline and channel, encompassing skilled graphic designers, public relations leaders, copy writers, content producers, digital wizards, and website developers. A collaborative approach brings out your company’s stories that are shaped and crafted with the perfect visual, the right words and in the most dynamic way. Connect with Creative Latest Atlanta & Southeast Stories Atlanta, State Lamenting Data Center Growth Atlanta & Southeast + Georgia + Industrial | May 8, 2024 Georgia state lawmakers are trying to put the brakes on the proliferation of data centers spreading throughout the state, especially in the Atlanta metro area. A CBRE report suggested the region experienced a 211% increase in data center projects under construction between 2022 to 2023, the largest increase in the nation. The Georgia Senate has voted to … Pacific Urban Picks 412-Unit Perimeter Project Atlanta & Southeast + Atlanta + Apartments | May 8, 2024 Pacific Urban Investors has bought the 412-unit Mount Vernon Flats at the Perimeter in Atlanta for $102.5 million. The complex will be rebranded The Kinsley at Perimeter Center. Pacific’s entry into the Atlanta market is a continuation of broader portfolio expansion efforts throughout the East Coast which includes communities in the New York Metro, Boston, … Latest Boston & New England Stories Equity Residential Buys Weymouth MF Property for $63M Boston & New England + Massachusetts + Apartments | May 8, 2024 Equity Residential has acquired the 160-unit Helix Apartments in Weymouth, Massachusetts., a redevelopment of the former Boston Motel site, from Trinity Green Development for $62.6 million. The property underwent rezoning in 2018 to encourage mixed-use development. Trinity’s proposal for the development, filed in December 2020, was approved in March 2021, with the company agreeing to … Boston Proposes New Regulations to Achieve “Net Zero” Boston & New England + Boston + Finance | May 8, 2024 The Boston Planning and Development Agency is proposing new regulations for larger buildings to achieve “net zero” carbon emissions from their opening, reviving a policy shelved two years ago. The proposal would also require reporting of a building’s embodied carbon, emissions released by construction materials. Lab, hospital, and manufacturing buildings would have longer timelines to reach net zero. The proposal aims to establish … Connect TeamView AllOur ValuesWe understand that we have different backgrounds, ethnicities, experiences, and geographies, and these differences are what make us unique and bring a variety of perspectives that will shine through.Minority SplitGender SplitLearn More Latest California Stories JPI Acquires Parcel at Mosaic Redevelopment in Long Beach California + Los Angeles + Apartments | May 8, 2024 Momentum continues on the redevelopment of Mosaic in downtown Long Beach with the sale of a 1.58-acre portion of the site to multifamily developer JPI. The parcel, bound by Long Beach Boulevard, 4th Street, The Promenade North and 5th Street, is entitled for 272 units of class A luxury for-rent apartments, including 16 affordable units, and 19,000 square feet of ground-floor … Triple-Net LA Retail Plaza Sells to Local Investor California + Los Angeles + Net Lease | May 8, 2024 Progressive Real Estate Partners arranged the $3.5-million all-cash sale of a 7-Eleven anchored triple-net retail strip center at 728 W. Vernon Ave. in Los Angeles. The 6,300-square foot, three-tenant center is fully leased. President Brad Umansky, CCIM and investment sales advisor Lance Mordachini represented both parties in the transaction. The seller was a Los Angeles County-based private investor and repeat client of Progressive Real Estate. The … Latest Chicago & Midwest Stories National Title Insurance Agency Expands to Chicago Chicago & Midwest + Downtown + Finance | May 8, 2024 Title insurance agency Kensington Vanguard National Land Services (KV) has opened a Chicago office, with Pam Sullivan joining as EVP and senior underwriting counsel. Sullivan has decades of experience in the commercial title insurance industry and in her new role, she will lead KV’s Chicago operations and be part of the KV Midwest division leadership team. Brian … Two Chicago Sites on Landmarks Illinois’ 2024 Most Endangered Places List Chicago & Midwest + North Side + Retail | May 8, 2024 Landmarks Illinois announced its 2024 Most Endangered Historic Places in Illinois, which calls attention to 10 culturally and architecturally significant sites across the state that are desperately in need of preservation resources. Two of the sites, the Portage Theater in the North Side’s Portage Park and the former Sears administrative building in the West Side’s North … Latest Florida & Gulf Coast Stories USF Seeking Options for its Shuttered Golf Course Florida & Gulf Coast + Central Florida + Hospitality | May 8, 2024 The Claw was becoming a drag on The University of South Florida. The school’s own golf course was costing the school over $200,000 a year. Now, USF is seeking proposals from real estate developers to transform The Claw, now closed, into a mixed-use district. The Tampa Business Journal reports the school wants to create a … Hialeah Rental Property Hits Market for $151M Florida & Gulf Coast + South Florida + Apartments | May 8, 2024 Walker & Dunlop Investment Sales (WDIS) has listed for sale Elan Solea, a luxury garden community in the suburbs of Miami. Still Hunter and Kaya Suarez are lead brokers on the deal on behalf of clients Greystar and The Carlyle Group. The 359-unit property is valued at approximately $151 million, or $421,000/unit. WDIS asserts that at that price, a buyer’s … Latest Global Stories Navigating the CRE Landscape: One Organization is Transforming its Approach National + Global + Industrial | April 23, 2024 Sweeping changes have spread across the globe in unprecedented waves over the last four years, and the ripples have affected all aspects of our world and business. Economies have been revamped, markets have been redefined, and entire industries have been rewritten. Those that didn’t adjust likely got left behind, while entities that anticipated and embraced … Global Office Landlords See Uptick in Lease Renewals National + Global + Office | April 9, 2024 More than 80% of global office landlords are seeing an uptick in lease renewals thanks in part to their emphasis on creating elevated workplace experiences, according to the fifth annual VTS Global Landlord Report. Just 41% of landlords are prioritizing lease-up of vacant space. VTS said 57% of landlords surveyed prioritize the retention of current tenants, with … Latest Lenders Stories Latest National Stories Apartment Rent Growth Expected to Accelerate in 2024’s Second Half National + Apartments | May 8, 2024 U.S. multifamily rent growth is expected to accelerate in the second half of 2024 as new construction completions decelerate and positive net absorption continues, CBRE reported. The first quarter saw average monthly rents grow 0.4% year-over-year to $2,163. Notwithstanding a slight increase in the multifamily vacancy rate, which reached 5.5% in Q1, strong demand led … Fed’s Loan Officer Survey: CRE Lending Standards Are Largely Status Quo National + Finance | May 7, 2024 The Federal Reserve reported that “significant net shares” of respondents to its latest Senior Loan Office Opinion Survey had tightened their standards on commercial real estate lending during 2024’s first quarter. That said, most banks surveyed left their standards basically unchanged quarter-over-quarter for each of three CRE loan types, and Reuters reported that the share … Latest New York & Tri-State Stories My Gym to Open Third Location in BK New York & Tri-State + Outer + Hospitality | May 8, 2024 My Gym has signed a third location in Brooklyn, located at City Point, 445 Albee Square. The 4,800 square-foot space on the mezzanine level will offer My Gym’s renowned mix of fun activities and educational experiences for children ages three months to 10 years. Garry Steinberg of Lee & Associates NYC represented My Gym, while … Brooklyn Fare Kitchen & Market Opens on LES New York & Tri-State + Downtown New York + Hospitality | May 8, 2024 Brooklyn Fare Kitchen & Market has opened at One Manhattan Square, Extell’s 800-foot residential tower on the Lower East Side Waterfront. This is Brooklyn Fare’s largest location yet, offering a variety of goods including prepared foods, fresh bread, sushi, deli items, and more. “We are excited to bring this amazing amenity to the community and to residents of One Manhattan Square,” said Alan Oppenheimer, vice president … Latest Phoenix & Southwest Stories Vertical Ventures Acquires Scottsdale Office Building Phoenix & Southwest + Phoenix + Office | May 8, 2024 Cushman & Wakefield assisted Northern California-based Vertical Ventures in securing $34 million in acquisition financing for its purchase of the Northsight Corporate Center, a Class A single-tenant office building totaling 136,682 square feet in Scottsdale, Arizona. CIM Group was the seller. The freestanding three-story property is 100% leased to Vanguard. Senior Associate Kristian Brown with … Former Motorola Site Nearly Ready for Development Phoenix & Southwest + Phoenix + Retail | May 8, 2024 The final phase of demolition has begun on the 72-acre, former Motorola semiconductor manufacturing campus located at 52nd Street, Loop 202 and McDowell Road in Phoenix. Beginning in the 60’s, the Motorola semiconductor facility was one of the first semiconductor manufacturing facilities in the country and employed over 3,000 employees, making it Phoenix’s largest employer … Latest Seattle & Northwest Stories Gantry Secures Life Company Loans on Two Seattle Apartment Properties Seattle & Northwest + Seattle + Finance | May 8, 2024 Gantry secured a total of $14.5 million in permanent loans for two Seattle multifamily properties, financing both with fixed rate debt. The first loan refinanced the 70-unit Perch Apartments located in the city’s Capitol Hill neighborhood at 500 Belmont Ave E, and the second was an additional funding on an underlying land lease of the … Spartan Investment Group Expands PNW Self-Storage Footprint Seattle & Northwest + Portland + Retail | May 8, 2024 Colorado-based Spartan Investment Group, a privately held real estate investment firm specializing in self-storage, has closed on a trio of premium, well-occupied facilities in the Pacific Northwest. They include two facilities in Portland, OR and one in Vancouver, WA. Terms of the acquisition were not disclosed. The deal elevates Spartan’s market value in the region … Latest Texas Stories 280 Affordable Apartments Come Online in Houston Texas + Houston-Galveston + Apartments | May 8, 2024 The Torrey Chase Apartments is taking tenants. The 280-unit complex at 14700 Torrey Chase Blvd. in Houston offers one- and two-bedroom apartments for rent to residents earning 60% or less of the area median income. The apartments feature amenities such as a dog park, a multi-acre walking park, a swimming pool, an entertainment area and … LyondellBasell Spending $61M on New Houston Offices Texas + Houston-Galveston + Office | May 8, 2024 LyondellBasell is planning an estimated $61 million buildout of its future U.S. headquarters in Williams Tower, the towering Galleria-area skyscraper. Work on the 318,000-square-foot offices spanning several floors is expected to begin this summer and be completed by February. Houston’s Kirksey Architecture designed the space. The work will affect 13 suites between the 37th and 49th floors of … Latest Washington DC Stories Development Plan Unveiled for Three Buildings at Maple Lawn Washington DC + Maryland + Office | May 8, 2024 The joint venture between Greenebaum Enterprises and St. John Properties, Inc. has unveiled plans for the final three commercial buildings at Maple Lawn, a mixed-use community in Howard County, Maryland. The buildings, totaling nearly 85,000 square feet, include two medical office buildings and one inline retail building. They are being developed on a speculative basis … Berkadia Closes Sale & Finance for Martinsburg BTR Community Washington DC + DC Metro + Apartments | May 8, 2024 A joint venture between DSP Real Estate Capital and Rockbridge Investment Group has acquired the Meadows at Berkeley Ridge, a new 148-unit townhome community in Martinsburg, West Virginia. The terms of the sale were not disclosed. Brett Moss and Tyler Swidler of Berkadia led the sale, while Phil Branigan and Miles Drinkwalter, and Natalie Revers of Berkadia DC … Latest Stories FromPPR Capital Management Launches New Opportunity Fund Alternative Assets | May 8, 2024PPR Capital Management, a Berwyn, PA-based private equity real estate investment firm, launched its PPR Opportunity Fund, in partnership with Olympus Pines, a retail business developer and operator. The investment will fund the building of new car wash businesses in “strategic, high-growth markets” across the U.S. The firms stated that they had identified the ...PNC, TCW Group Partner for Private Credit SolutionsAlternative Assets | May 8, 2024The PNC Financial Services Group and TCW, a global asset manager, have joined forces to provide private credit solutions to middle-market businesses. The companies plan to make $2.5 billion in investor equity capital accessible in the platform’s first year, with anchor investments from PNC and Nippon Life, TCW’s strategic partner and stakeholder. Investment activity is ...LPL Adds Former UBS Advisor to Independent PlatformBroker/Dealers | May 8, 2024LPL Financial LLC announced that financial advisor Matt Sheffield, who previously managed $275 million in advisory, brokerage and retirement plan assets at UBS, launched Spokane, WA-based Burlwood Wealth through LPL’s independence model, LPL Strategic Wealth Services. “After 15 years working for a very large bank, I wanted a sense of ownership in my practice and ...KKR, HASI to Invest $2B in “Climate Positive” Infra Projects Alternative Assets | May 8, 2024KKR, an alternative asset and private equity investor, and Hannon Armstrong Sustainable Infrastructure Capital (HASI), a climate solutions and sustainable infrastructure investment firm, announced the formation of CarbonCount Holdings 1 LLC (CCH1), a new venture aimed at investing up to $2 billion ($1 billion each) in “climate positive” sustainable infrastructure projects over the next 18 ...
