LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Apartment Rent Growth Expected to Accelerate in 2024’s Second Half National + Apartments | May 8, 2024 CRE Mortgage Originations Remain Flat Year-Over-Year National + Finance | May 9, 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.comTech 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 MoreMeadow ParkKennewick, WASeattle & Northwest + Apartment BuildingsListing Status:AvailableListing Type:Call for offersPrice:$9,000,000No. of Units:155Average Occupancy:7.43Year Built:1985Lot Size:4.92 AcresOpportunity Zone:NoPrice per unit:$58,064Learn 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 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 Two Brookhaven Developers Converting Office Sites to Apartments Atlanta & Southeast + Atlanta + Apartments | May 9, 2024 The landlord of a six-story office building near Perimeter Mall has sought approval to convert the space into 207 residential units for seniors. The 14-acre property, first developed in 1982, is known as Ashford Green (photo). Its office space is about 26% vacant. The proposal, fronted by Ashford Green Ventures, calls for five stories of new … Lion Picks Charlotte 225-Unit Value-Add Property Atlanta & Southeast + Carolinas + Apartments | May 9, 2024 Lion Real Estate Group, a value-add property buyer, purchased The Apartments at Radbourne Lake, a 225-unit multifamily property in Charlotte. The Class B property is located at 3209 Westbury Lake Dr. in Charlotte, NC, and Lion states that the property has been well-maintained and managed throughout the seller’s ten-year ownership. The disposition was timed with the … 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 Steward Health Care Declares Bankruptcy, to Sell 8 Florida Hospitals Florida & Gulf Coast + Florida + Distressed Assets | May 9, 2024 Steward Health Care System LLC has filed for Chapter 11 bankruptcy protection and will sell off its Florida hospitals. Steward runs eight hospitals in Florida, including Melbourne and Rockledge Regional Hospital, as well as in Sebastian, Coral Gables, Lauderdale Lakes, Miami and two in Hialeah. In total, Steward currently has 31 hospitals across eight states, … Hillwood Obtains $41M Loan for 900K-SF Mississippi Industrial Portfolio Florida & Gulf Coast + Gulf Coast + Industrial | May 9, 2024 Hillwood Investment Properties has acquired a three-building, 900,000-square-foot industrial portfolio in Mississippi. The three warehouses within the portfolio range from 133,776 square feet to 431,212 square feet and were built between 2013 and 2022. Located in Olive Branch and Southaven, Mississippi, all three warehouses are fully leased to five tenants, three of them being third-party … 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 CRE Mortgage Originations Remain Flat Year-Over-Year National + Finance | May 9, 2024 Commercial and multifamily mortgage loan originations were essentially unchanged in the first quarter of 2024 compared to a year ago, and decreased 23% from Q4 2023, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. However, the volume by lender type varied substantially compared to Q1 2023. “Borrowing and lending … KBRA: Nearly a Third of Office CMBS is Distressed National + Distressed Assets | May 9, 2024 The volume of distressed office in conduit and single-asset, single-borrower CMBS increased to a combined $52.2 billion in March, nearly double the $26.6 billion volume a year ago, according to Kroll Bond Rating Agency’s KBRA Credit Profile (KCP). Thirty-one percent of office loans by balance, or nearly one-third, are considered KBRA Loans of Concern, meaning … 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 12-Story Dallas Courthouse Parking Structure Designed for the Future Texas + Dallas-Fort Worth + Office | May 9, 2024 Serra Real Estate Capital has just completed a $66.8 million parking garage at 700 Jackson Street in Dallas. The 12-story garage will provide parking, primarily for citizens visiting the Dallas County Courthouse. The project was designed to support an additional 15 stories, which might ultimately be built as a hotel, office, or residential building. Located … Texas People & Company News, Week of May 10, 2024 Texas + State of Texas + Office | May 9, 2024 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 FromBallast Rock Launches Sunbelt Multifamily Fund Alternative Assets | May 9, 2024Alternative assets investment firm Ballast Rock is targeting $100 million for its third fund, Sunbelt Multifamily Fund III LP, focused on the southeastern U.S. Like previous Sunbelt funds, it will acquire and renovate a diverse property portfolio, which comes five years after the firm’s first vehicle. The firm said it has identified and is performing due ...EnCap Closes Second Energy Transition Fund at $1.5B Alternative Assets | May 9, 2024EnCap Energy Transition has secured approximately $1.5 billion for the final close of its second fund targeting the transition away from carbon-intensive energy sources. The EnCap Energy Transition Fund II will target solutions to decarbonize the power industry, while also opportunistically investing in low carbon fuels and carbon management, the firm said. EnCap launched its ...26North Closes $4.9B Reinsurance Deal with LSW Alternative Assets | May 9, 202426North Reinsurance Holdings (26N Re) closed a $4.9 billion reinsurance deal with Life Insurance Company of the Southwest (LSW), part of the National Life Group (NLG), boosting the company’s assets under management to approximately $22 billion. Under the agreement, a 26N Re subsidiary will reinsure a diversified block of LSW’s multi-year guarantee and fixed index ...LPL Adds $830M Connecticut Foursome from Janney Broker/Dealers | May 9, 2024LPL Financial LLC announced that advisors Logan Reed, James “Jim” English III, Michael Allegra Jr., and Matthew Fleming, have launched a new independent practice, Thimble Island Private Wealth, through affiliation with LPL Financial’s independence model, LPL Strategic Wealth Services. The team reported having served approximately $830 million in advisory, brokerage and retirement plan assets while ...
