LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Ban on Employee Non-Compete Agreements Tips the Balance of Power National + Finance | May 10, 2024 Global CRE Pricing Continues to Slip in Q1 National + Global + Finance | May 10, 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.com1000 North Oxford AvenueLos Angeles, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$1,575,000No. of Units:8Cap Rate:5.23GRM/GIM:13.42Year Built:1928Building Size:5354 Sq ftLot Size:4200 AcresNo. of Stories:2Opportunity Zone:NoPrice per unit:$196,875Learn MoreRTI – Build 21 Units in Palms by Culver CityLos Angeles, CACalifornia & West + Land/DevelopmentListing Status:AvailableListing Type:Highest & best offerPrice:$2,695,000No. of Units:21Opportunity Zone:NoPrice per unit:$128,333Learn 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 JV Delivers 23-Story, $186M Charlotte Office Building Atlanta & Southeast + Carolinas + Office | May 10, 2024 The joint venture of Stiles and Shorenstein Properties has delivered 110 East, its newest Class A, a 23-story office tower in Charlotte’s South End neighborhood. Nashville-based Hastings Architecture designed the 370,000-square-foot building. Shelco was the general contractor. Commercial Edge reports Global Atlantic Financial Group provided a $137 million construction loan for the $186 million project. … Durham Bottling Plant Redevelopment Advances Atlanta & Southeast + Carolinas + Apartments | May 10, 2024 Ardent Companies has updated its plans for redeveloping a Durham Coca-Cola Bottling Company warehouse. The new development will include 370 apartments, 35 townhomes and nearly 70,000 square feet of retail space, including a grocery store. The company is hoping to break ground in the first quarter of 2025. If it follows that timeline, the development … Latest Boston & New England Stories Synergy Launches Event Space in Worcester Boston & New England + Massachusetts + Hospitality | May 10, 2024 Synergy has launched Top of the Tower, an event space on the top two floors of Worcester’s Glass Tower at 446 Main Street. Offering cityscape views through floor-to-ceiling windows, the venue features amenities for private parties, conferences, and professional gatherings. Acquired by Synergy in 2019, 446 Main Street has undergone extensive renovations, including upgrades to … Encore Boston Expansion Suspended Due to Impasse Boston & New England + Boston + Hospitality | May 10, 2024 The expansion of the Encore Boston Harbor casino in Everett has been suspended due to disagreements between the casino and the city over issues such as taxes and impact fees, according to Wynn Resorts, the parent company of Encore. The planned expansion, which included a dedicated poker room, a second sports betting parlor, and other amenities, was … 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 Connect LA Experts on CRE Investment Without Fed Rate Cuts (VIDEO) California + Los Angeles + Finance | May 10, 2024 “There’s been a hope that the rates would get reduced, and I have a feeling that lenders may try to take some more actions and figure out what they can do, whether it’s through extensions, restructuring loans or stepping in and foreclosing. But I don’t think they can wait forever.” That’s Craig Coan, partner with … SRS Garners 30% Market Share of Chick-fil-A Property Sales California + Orange County + Net Lease | May 10, 2024 SRS Real Estate Partners Capital Markets, based in Newport Beach, said that over the past 12 months, the firm has sold a total of 10 properties occupied by Chick-fil-A valued at $48 million with an average cap rate of 4.2%. The company said this figure gives it a 30% market share for all Chick-fil-A-occupied assets … Latest Chicago & Midwest Stories Foxtrot Assets Sold at Auction Following Sudden Closure Chicago & Midwest + Downtown + Retail | May 10, 2024 Foxtrot’s assets were sold at auction Friday for more than $2.2 million, reported Crain’s. The buyer was holding company Further Point Enterprises. The auction was conducted by JPMorgan Chase Bank, a debtor of Foxtrot, through its counsel, DLA Piper. The sale of the assets follows the sudden move by Outfox Hospitality, the group that owned Foxtrot … IDOT Awards Grant for Gotion EV Battery Plant Road Project Chicago & Midwest + Greater Chicagoland + Industrial | May 10, 2024 Kankakee County has been awarded a $2.9 million grant from the Illinois Department of Transportation (IDOT) to overhaul Highway 9, improving access to the new Gotion electric vehicle battery plant in Manteno. The grant is part of IDOT’s Economic Development Program, aimed at facilitating key transportation improvements to support economic growth and job creation.The project … Latest Florida & Gulf Coast Stories Miami Airport Okays Sleeping Centers Florida & Gulf Coast + South Florida + Hospitality | May 10, 2024 Many of us have experienced long delays at airports. Our top option is to get some rest on the less-than-comfortable chairs at our gate. The Miami-Dade Board of County Commissioners is sympathetic to those travelers and is spending $10 million to create sleeping centers at Miami International Airport. A company called Hotelzo LLC DBA Wait … Duo Procures $38M Construction Loan for Bradenton Rehab Center Florida & Gulf Coast + Central Florida + Healthcare | May 10, 2024 CROSS Development and Kennor Holdings obtained a $38 million construction loan along with PACE financing for a rehabilitation hospital in Bradenton, Florida. The project will be managed by Nobis Rehabilitation Partners, which currently manages 14 hospitals nationwide, with another eight in the construction pipeline. This will be the fourth project in Florida that Nobis is … Latest Global Stories Global CRE Pricing Continues to Slip in Q1 National + Global + Finance | May 10, 2024 Global commercial real estate pricing continued to fall in the first quarter of 2024 as deal activity remained sluggish across most major global cities, MSCI Real Assets reported. The Global Cities Composite Index fell 5.7% from a year earlier, bringing the cumulative decline from 2022’s peak to 11%. “On the surface, the pace of decline … 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 … Latest Lenders Stories Latest National Stories Ban on Employee Non-Compete Agreements Tips the Balance of Power National + Finance | May 10, 2024 Assuming a pending court challenge is surmounted, the Federal Trade Commission’s ban on employee non-compete agreements will take effect 120 days after its publication on April 23. The ban does exempt existing non-compete agreements with senior executives; however, no new agreements will be enforceable after the prohibition takes full effect. Across the spectrum of U.S. … Global CRE Pricing Continues to Slip in Q1 National + Global + Finance | May 10, 2024 Global commercial real estate pricing continued to fall in the first quarter of 2024 as deal activity remained sluggish across most major global cities, MSCI Real Assets reported. The Global Cities Composite Index fell 5.7% from a year earlier, bringing the cumulative decline from 2022’s peak to 11%. “On the surface, the pace of decline … Latest New York & Tri-State Stories Steiner, JP Morgan Tap JLL to Sell/Re-Cap BK Resi Tower New York & Tri-State + Outer + Apartments | May 10, 2024 JLL Capital Markets has been retained to sell or recapitalize Hub, a residential tower in Boerum Hill, Brooklyn. This Class A property features 750 units, ground-floor retail, and over 40,000 square feet of amenities. Hub, completed in 2017, was built under the 421a tax program with 20% of apartments designated as affordable. The property offers … Elliman Partners with Bilt on Resident Rewards Program New York & Tri-State + New York + Finance | May 10, 2024 Douglas Elliman, an independent residential real estate brokerage in NYC, has become the first condo and co-op property management firm to join the Bilt Rewards Alliance. This partnership allows residents in Douglas Elliman managed buildings to earn rewards and benefits by making their monthly condo and co-op fee payments through Bilt. Residents can also earn rewards and access exclusive … Latest Phoenix & Southwest Stories Evergreen Devco Spins Off 258-Unit Phoenix-Area Apartments Phoenix & Southwest + Phoenix + Apartments | May 10, 2024 CBRE facilitated the $62.75 million sale of Parc Tolleson, a 258-unit Class A multifamily community in Tolleson, Ariz. A CBRE team of Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented Evergreen Devco, the seller, in the sale. Troy Tegeler and Trevor Breaux, with the CBRE debt & structured finance team, arranged financing for Millburn & Company. Tolleson is 20 miles … LV Collective Starts Work on 829-Bed ASU Student Housing Project Phoenix & Southwest + Phoenix + Student Housing | May 10, 2024 LV Collective, Kayne Anderson Real Estate, and Pacific Life have closed on a student-oriented multifamily development in Tempe. Located at 1020 East Apache, Tempe, Rambler is less than a quarter mile from Arizona State University’s campus. The 552,380-square-foot project will feature 289 apartments, a mix of studio, 1-, 2-, 3-, and 4-bedroom units, offering 829 … Latest Seattle & Northwest Stories Two-Property MF Portfolio in Port Orchard Sells for $18.5M Seattle & Northwest + Seattle + Apartments | May 10, 2024 Northmarq’s Seattle Multifamily Investment Sales team of Tyler Smith, Steve Fischer and Joe Kinkopf brokered the sale of a two-property portfolio in Port Orchard, Washington, for $18.5 million. The portfolio totals 92 units and consists of Timber Run Apartments and The Jackson Apartments. Northmarq represented the seller, Port Orchard Portfolio LLC. The buyer was BJPO … J.P. Morgan Real Estate Banking Expands into Seattle Seattle & Northwest + Seattle + Office | May 10, 2024 As part of JPMorgan Chase’s commitment to expanding its market presence, the firm hired Kris Kesterke as an Executive Director of the Pacific Northwest within its Real Estate Banking (REB) group. Kesterke will be based in Seattle and report to Alex Mast, REB’s West Region Manager. With over 15 years of commercial real estate lending … Latest Texas Stories Pinnacle Bank Takes Back Distressed Arlington Office Park Texas + Dallas-Fort Worth + Office | May 10, 2024 The investor of a four-building business Park in Arlington has lost that investment, to the bank that had the loan on it. Pinnacle Bank Texas took back the office park at auction for $30 million from Opal Holdings. Opal Holdings defaulted on a $40 million loan the bank made in 2021. The Dallas Business Journal … Samsung Plant Catalyst for New UT Campus Texas + Austin + Office | May 10, 2024 A foundation formed 28 years ago to attract a higher education center to the city of Taylor, just northeast of Austin, has given The University of Texas at Austin a 68-acre tract that will be developed into The University of Texas at Austin – Taylor Center. The property is near Samsung Austin Semiconductor’s new 6 … Latest Washington DC Stories Berkadia Closes $41M in Financing & Sale for Arlington 162-Unit MF Property Washington DC + DC Metro + Finance | May 10, 2024 Berkadia has facilitated the financing and sale of Marlowe Apartments, a 162-unit high-rise multifamily property in Arlington, Virginia. The firm’s DC Metro team secured $40.6 million in acquisition financing for buyer The FORTIS Companies. Berkadia DC Metro Institutional Sales facilitated the sale on behalf of an undisclosed seller with a team led by Patrick McGlohn, … MacKenzie Opens New Charlottesville Office Washington DC + DC Metro + Office | May 10, 2024 The MacKenzie Companies has expanded into central Virginia with a new Charlottesville office, led by Sam P. Orr, formerly of Boston Properties. With its new office, MacKenzie aims to serve a diverse range of clients, including private investors, property owners, landlords, tenants, and individuals. “We view Charlottesville as the gateway to our full expansion throughout Virginia, with … Latest Stories FromWealthspire Buys $420M Women-Led Ohio RIA Financial Advisory | May 10, 2024Wealthspire Advisors LLC, a NYC-based independent registered investment has acquired Beachwood, OH-based Walden Wealth Partners LLC, a registered investment advisor firm with about $420 million in assets. The financial terms of the deal, which is expected to close this quarter, were not disclosed. Founded in 2015 by Karin Maloney Stifler and Sarah Hannibal, Walden Wealth offers ...AlTi Global Acquires $3B Multifamily OfficeDirect Investment | May 10, 2024AlTi Global, Inc., a publicly traded independent global wealth manager with combined assets of over $70 billion, has acquired Minneapolis-based Envoi, LLC, a multifamily office with $3 billion in assets under management. The latest transaction follows AlTi’s acquisition of East End Advisors, an independent advisory firm that manages approximately $5.6 billion for ultra-high-net-worth families, endowments, ...TrueCore Investments Acquires Oklahoma Industrial Property Alternative Assets | May 10, 2024TruCore Investments, an Oklahoma-based privately held commercial real estate investment company specializing in Class B industrial assets, announced the acquisition of a Class B industrial warehouse and distribution center in Oklahoma City, expanding its portfolio with more than $130 million secured during the last two years. The deal was executed as a short-term sale leaseback ...CAIS Expands Marketplace Offerings with Blackstone Alts DealAlternative Assets | May 10, 2024CAIS, an alternative investment platform for independent financial advisors, announced it has expanded its Marketplace offerings with the addition of alternative asset manager Blackstone’s investment strategies. Select Blackstone strategies, which have undergone third-party due diligence by Mercer, will be made available to CAIS’ network of RIAs, independent broker dealers, and RIA aggregators that oversee more ...
