LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Inflation and the Fed Tell Only Part of the Economic Story National + Weekender | April 25, 2024 CREFC Survey Cites “More Tempered Outlook” for Economy, Borrower Demand National + Finance | April 25, 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.comPacific CrestEncinitas, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$15,500,000No. of Units:21Cap Rate:4.04GRM/GIM:16.27Average Occupancy:98Year Built:1960Year Renovated:2020Building Size:18460 Sq ftLot Size:28314 AcresNo. of Stories:2APN:358-172-19Opportunity Zone:NoBuy Side Fee:$1Price per unit:$738,095Learn 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 More3896 Chippewa RoadMemphis, TNAtlanta & Southeast + Apartment BuildingsListing Status:AvailableListing Type:Call for offersNo. of Units:558Year Built:1972Year Renovated:2022Building Size:511760 Sq ftLot Size:29 AcresNo. of Stories:2Opportunity 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 Oracle is Moving to Nashville Atlanta & Southeast + Southeast + Office | April 25, 2024 Larry Ellison, the company’s CEO, said the move of its headquarters was made to be closer to healthcare facilities. Oracle is heavily invested in a Nashville healthcare company, Cerner Corp., buying it for $28 billion in December 2021. It’s unclear how much of a presence the company will still have in Austin, the home of … Nashville-Area BTR Community Sells for $500K/Unit Atlanta & Southeast + Southeast + Apartments | April 25, 2024 Thompson Thrift Residential has sold Oakbrook Townhomes, an 89-unit build-to-rent community in Nashville’s suburb of Franklin, Tenn. Public records suggest the buyer, Arqitel, paid $44 million for the asset, nearly $500,000 a unit. Commercial Edge reports the sale involved a $19.8 million loan from State Farm Life Insurance Co. Walker & Dunlop brokered the transaction. … Latest Boston & New England Stories Alexandria Invests $155M to Build Life Science ‘Mega Campus’ in Boston Boston & New England + Boston + Finance | April 25, 2024 Alexandria Real Estate Equities Inc. is planning a “mega campus” on Dorchester Avenue in South Boston, spanning over 1 million square feet, Boston Business Journal reported. The developer contributed $155.3 million to joint ventures that now own several parcels on Dorchester Ave., including 285, 299, 307, and 345 Dorchester Ave., which are currently home to low-slung industrial buildings. Alexandria owns a … Winn-Opal Opens 74-Unit Mixed Use in Springfield Boston & New England + Massachusetts + Apartments | April 25, 2024 WinnCompanies and Opal Real Estate Group opened ThirtyOne Elm in downtown Springfield, MA, with 74 apartments and 13,000 square feet of retail space. The project, led by Michael O’Brien of WinnCompanies, revitalized the vacant 132-year-old Court Square Building, adding affordable housing and retail to the area near MGM Springfield. The development included the preservation of historic features … 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 Trammell Crow Residential Nabs Arcadia Development Site California + Los Angeles + Apartments | April 25, 2024 CBRE has arranged the sale of a 2.9-acre development site encompassing several parcels of land in Arcadia. Dean Zander and Stewart Weston of CBRE and John Montakab of Walker & Dunlop facilitated the sale on behalf of the buyer, a joint venture between Trammell Crow Residential (TCR) and Arcadia-based Positive Investments. Deal terms were not disclosed. The land is … DTLA’s Best People, Places Honored at Roses & Lemon Awards Breakfast California + Los Angeles + Apartments | April 25, 2024 The Downtown Breakfast Club (DBC), comprised of community leaders and stakeholders, honored the best people and places in Downtown Los Angeles at its annual Roses & Lemon Awards breakfast recently. The Rose awards are given in recognition of the recipients’ commitment to DTLA and their spirited contributions and their role in the betterment of Downtown … Latest Chicago & Midwest Stories Chicago, Midwest | Weekly People & Companies for April 26, 2024 Chicago & Midwest + Office | April 25, 2024 KeyBank Real Estate Capital has appointed Patrick Kempton as the Midwest Regional production manager for a team focused on multifamily lending in the Midwest region. Kempton is responsible for a team originating loans for the multifamily sector. He is based in Chicago and reports to Janette O’Brien, Head of Multifamily Production at KeyBank. Prior to … WeWork Looks to Keep Downtown Chicago Space Chicago & Midwest + Downtown + Office | April 25, 2024 WeWork has solidified five new lease assumptions throughout the United States, including one in downtown Chicago. The flexible space provider filed a court motion to remain at the 448 N. LaSalle Street space in the city’s River North neighborhood. The assumptions are still subject to court approval and are part of the company’s efforts to strategically … Latest Florida & Gulf Coast Stories Ocoee Retail Center Owner Discloses Anchor Tenant Florida & Gulf Coast + Central Florida + Retail | April 25, 2024 Developer Konover South broke the news on its website that a Walmart Neighborhood Market will anchor its project at SR-429 and Clarcona-Ocoee Road. The 43,000-square-foot market will be joined by a 7-Eleven convenience store, restaurants and retail stores, totaling 117,000 square feet. The center will have 72,000 vehicles drive by per day. Ocoee Village Center … Regency Centers Revamping Miami Retail Center Florida & Gulf Coast + South Florida + Retail | April 25, 2024 Earlier this year, Regency Centers completed demolition at the site for Avenida Biscayne, a retail center 15 miles north of Miami in Miami-Dade County. Regency Centers is investing $23 million in the redevelopment of three retail buildings totaling more than 28,000 square feet. The company plans to deliver the first space to merchants for buildout in … 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 CREFC Survey Cites “More Tempered Outlook” for Economy, Borrower Demand National + Finance | April 25, 2024 The CRE Finance Council (CREFC) on Thursday reported a slight decline in its First-Quarter 2024 (1Q 2024) Board of Governors (BOG) Sentiment Index survey. The latest index dipped to 105.4, a 4% decrease from the previous quarter’s 109.9. CREFC cited notable shifts in the economic outlook, the impact of higher interest rates for longer and … Inflation and the Fed Tell Only Part of the Economic Story National + Weekender | April 25, 2024 Every time inflation rates increase or the Federal Reserve indicates that its “Higher for Longer” interest rate strategy will likely stay in place, there seems to be panic in the streets. The stock market does its volatile thing as prognosticators—especially those in commercial real estate—wring their hands about ongoing high costs of capital and what … Latest New York & Tri-State Stories Lee & Low Books Inks ATCO’s 381 Park Avenue South New York & Tri-State + Downtown New York + Office | April 25, 2024 ATCO Properties & Management has finalized several leasing agreements at 381 Park Avenue South in Flatiron District, including a new 5,844-square-foot lease with Lee & Low Books, the largest multicultural children’s book publisher in the U.S. Lee & Low Books will relocate from 95 Madison Avenue to occupy part of the 14th floor at 381 … CBRE Arranges $29M Bridge Loan for Winslow Township MF New York & Tri-State + New Jersey + Finance | April 25, 2024 CBRE has secured $29 million in bridge financing for the refinance of Mi-Place at Brightmoor in Winslow Township, NJ. The three-year bridge loan, provided by an entity managed by Argentic Investment Management LLC, will be used to refinance Fernmoor’s 144-unit Class-A multifamily project. Phase I of Mi-Place at Brightmoor includes six garden-style buildings and is … Latest Phoenix & Southwest Stories Patience Key for Panelists at Recent ConnectCRE Conference Phoenix & Southwest + Phoenix + Apartments | April 25, 2024 At the recent ConnectCRE Phoenix Multifamily/BTR Conference at the Westin Kierland Resort & Spa, a major subject of the various panels was financing deals and the ongoing hangover of elevated interest rates. George Maravilla of Tower Capital weighed in with his views on debt and equity: “Since it’s hard to get institutional investors into deals, … EQT Exeter Picks Vacant Buckeye Warehouse for $60.1M Phoenix & Southwest + Phoenix + Industrial | April 25, 2024 EQT Exeter paid $60.1 million for a just-delivered 641,000-square-foot industrial building in Buckeye, Arizona. BET Investments developed and sold the property, which is located along the I-10 freeway, just west of Verrado Way. The building was vacant at the time of sale. Located at 440 North 215th Avenue, the standalone building represented Phase I of … Latest Seattle & Northwest Stories Cushman & Wakefield Brokers Sale of MF in Seattle Retail Hub Seattle & Northwest + Seattle + Apartments | April 25, 2024 Cushman & Wakefield has arranged the sale of the James Bon Apartments, a freestanding three-story multifamily building plus basement located in the urban hub of 85th and Greenwood in north central Seattle. Located at 8541 Phinney Ave N in the Phinney Ridge neighborhood, the property sold for $3.1 million or $258,000 per unit and $375 … Brett Hanson Named Branch Principal in Mackenzie’s Seattle Office Seattle & Northwest + Seattle + Office | April 25, 2024 Mackenzie has promoted Brett Hanson to branch principal of the firm’s Seattle office. Hanson, co-leader of the firm’s public buildings team and architectural team leader for Seattle, will be responsible for managing the Seattle-based team, building client relationships, and leading the collective growth of the firm’s business. Over the course of his 20 years at … Latest Texas Stories Frisco’s Firefly Park Set to Glow Texas + Dallas-Fort Worth + Apartments | April 25, 2024 Wilks Development and Frisco Economic Development Corporation(Frisco EDC) have formally launched Firefly Park, a 242-acre mixed-use, master-planned development next to the PGA of America Headquarters in Frisco. The development will feature 3 million square feet of Class A office space, 400,000 square feet of upscale retail, dining, and entertainment, along with 1,200 hotel rooms, 230 townhomes, 1,970 … Houston Office Results Sluggish, Industrial Soaring Texas + Houston-Galveston + Office | April 25, 2024 A Newmark 1Q24 Texas office market report indicates annual full-service asking rental rates decreased from an all-time high last quarter to $29.77/SF but reflecting a 0.7% increase year over year. Overall vacancy rates rose in the first quarter of 2024 to 25.1%, increasing by 30 basis points quarter over quarter and increasing by 80 basis … Latest Washington DC Stories Lument Arranges $35M Loan to Acquire Bethesda MXU Complex Washington DC + Maryland + Finance | April 25, 2024 Lument has closed a $34.5 million Freddie Mac loan for Corner Lot Advisors’ acquisition of 8200 Wisconsin, a 245-unit mixed-use complex in Bethesda. Bryan Cullen led the transaction, structuring the loan with a seven-year term and two years of interest-only payments at a fixed rate. The loan allows for the use of $10 million from … Graham Holdings Inks 24K-SF Full Floor Lease in Rosslyn Washington DC + DC Metro + Office | April 25, 2024 Graham Holdings Company has secured a 15-year, full-floor office lease with Monday Properties for 24,023 square feet at 1812 N. Moore Street in Rosslyn, Virginia. Graham Holdings will relocate its headquarters to the entire 21st floor of the tower. SmithGroup is designing the new office space, and HITT Contracting will oversee the buildout. Graham Holdings … Latest Stories FromCresset Adds Two JP Morgan Teams to San FranciscoFinancial Advisory | April 25, 2024Cresset Capital Mangement has recruited two new advisory teams that managed approximately $5 billion in assets on behalf of 160 client households, to its San Francisco office. Previously with J.P. Morgan Wealth Management, and prior to that First Republic Bank, the two teams comprise three advisors and a 12-person support staff. Advisor Dagny Maidman and ...KKR Strikes $1.6B Deal for BREIT Student Housing PortfolioAlternative Assets | April 25, 2024KKR will acquire a portfolio of 19 purpose-built student housing properties with over 10,000 beds from Blackstone Real Estate Income Trust (BREIT) for about $1.64 billion. BREIT acquired the portfolio in June 2018 for $1.2 billion through a 95%-5% joint venture with Greystar Real Estate Partners. “This transaction is an excellent outcome for BREIT’s investors ...Blackrock, Temasek Raise $1.4B for Decarbonization FundAlternative Assets | April 25, 2024BlackRock and Singaporean state investment firm Temasek Holding’s decarbonization-focused fund, Decarbonization Partners, has closed its debut fund at $1.4 billion. The fund, which focuses on companies aiming to transition to a net-zero economy, exceeded its initial $1 billion target with participation from limited partners Allstate, BBVA, KIRKBI, Mizuho Bank, MUFG Bank, and TotalEnergies, as well ...Vantage Data Centers Secures $3B Green Loan Alternative Assets | April 25, 2024Vantage Data Centers, a hyperscale data center campus provider, secured a $3 billion green loan from a bank syndicate led by Wells Fargo Securities, LLC and joint bookrunners TD Securities, Truist Securities, Inc. and Scotiabank. The financing is a revolving credit facility with an initial collateral pool of eight leased and greenfield sites in both ...