LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 CREFC Survey Cites “More Tempered Outlook” for Economy, Borrower Demand National + Finance | April 25, 2024 MBA Reports 47% Decline in CRE Lending Volume for 2023 National + Finance | April 26, 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 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 More1132 W Duarte RdArcadia, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$9,250,000No. of Units:20Cap Rate:4.07GRM/GIM:16.67Average Occupancy:100Year Built:1962Building Size:19432 Sq ftLot Size:30379 AcresNo. of Stories:2APN:5382-001-043Zoning Code:R3No. of Parking Spots:30Opportunity Zone:NoBuy Side Fee:$2Price per unit:$462,500Learn 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 222-Unit Atlanta-Area BTR Project Delivering Units Atlanta & Southeast + Atlanta + Apartments | April 26, 2024 Canvas Residential is starting to release units for its 222-unit build-to-rent community in the Atlanta metro area. Center Park Group, the lead contractor, is finishing the buildout of The Rosemoor townhome community in McDonough, Georgia which kicked off in January of 2023. It’s the fourth time the two have combined efforts on BTR projects. On … 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 … Latest Boston & New England Stories Bose to Open HQ at Ex-EMC Building in Hopkinton Boston & New England + Metro Boston + Office | April 26, 2024 Bose Professional, an independent division of Bose Corp., is opening a new headquarters in Hopkinton at 117 South St., a 56,300-square-foot office and data center acquired from Dell EMC by Rhino Capital Advisors. Transom Capital Group acquired Bose Professional from Bose last year, allowing Bose to focus on the consumer market. Bose Professional plans to … CIM to Convert South End Office into Apt Boston & New England + Boston + Apartments | April 26, 2024 A Los Angeles-based real estate firm, CIM Group, has proposed converting a six-story South End office building into 91 apartments, seeking a tax break from the city for the project, Boston Business Journal reported. The building, at 95 Berkeley St., is largely vacant and would require an additional 20,000 square feet to be added to the existing structure. CIM estimates the redevelopment cost at $75 million, … 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 CA Issues Tax Credits to Support $15.5B in Private Investment California + Industrial | April 26, 2024 California Gov. Gavin Newsom said Friday the state has awarded $120 million in tax credits to eight companies as part of the California Jobs First initiative. The awards will generate more than 2,100 full-time jobs with an average annual salary of over $100,000 and bring in an estimated $15.5 billion in private investment over the … 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 … 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 Dolce&Gabbana Developing/Designing Miami Condo Hotel Florida & Gulf Coast + South Florida + Apartments | April 26, 2024 Dolce&Gabbana has unveiled 888 Brickell, its first real estate project and condo hotel in the USA, in collaboration with developer JDS Development Group. The group bought a seven-story office building they are converting into a luxury highrise condo hotel. The condo hotel, which is slated to be over 1,000 feet high, features 250 rooms and suites, … Jacksonville’s Wells Fargo Center Changes Hands Florida & Gulf Coast + Central Florida + Office | April 26, 2024 The Wells Fargo Center downtown, one of the town’s most recognizable towers in Jacksonville, and two parking garages sold for a total of $46.4 million. Argentic Investment Management bought the 37-story tower at 1 Independent Drive, a nine-level parking garage at 1 W. Bay St., and a three-level garage at 21 E. Bay St. Banyan … 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 MBA Reports 47% Decline in CRE Lending Volume for 2023 National + Finance | April 26, 2024 Total commercial real estate mortgage borrowing and lending totaled an estimated $429 billion in 2023, down 47% from the $816 billion in 2022 and off 52% from 2021’s record $891 billion. That’s according to the Mortgage Bankers Association’s (MBA) 2023 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation. “Higher interest rates, uncertainty about property values, … 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 … Latest New York & Tri-State Stories Sagard Real Estate Appoints New Head of Asset Management New York & Tri-State + New York + Finance | April 26, 2024 Camila Grello has joined Sagard Real Estate as managing director of asset management, responsible for leading the Northeast US market. Previously, Grello served as senior vice president of Asset Management at Thor Equities, overseeing a diverse portfolio across Thor’s US business, including industrial, residential, retail, office, life science, and hospitality assets. Grello has also worked … Hair Care Company Beachwaver Inks Space at Domino Sugar Refinery New York & Tri-State + Outer + Hospitality | April 26, 2024 Hair care company Beachwaver has signed a seven-year lease for 5,100 square feet at The Refinery at Domino in Williamsburg, Brooklyn. The company, known for its rotating curling iron, is relocating part of its operations from Chicagoland to Brooklyn. The Refinery at Domino is a recently redeveloped sugar factory. The Williamsburg outpost will feature office … Latest Phoenix & Southwest Stories Christopher Todd Picks 217-Unit Avondale BTR Project Phoenix & Southwest + Phoenix + Apartments | April 26, 2024 Christopher Todd Capital has completed its first purchase of a newly completed Build-to-Rent (BTR) community in Avondale. The company, with offices in Arizona and Florida, purchased the community for approximately $57 million, which is well below what it would cost to build from the ground up today. The seller is the WestStone Group. The Class … Echo Completes 676K-SF Loop 303 Project Phoenix & Southwest + Phoenix + Industrial | April 26, 2024 Echo Park 303, a 676,000-square-foot, two-building industrial park in Glendale, has been delivered by Echo Real Estate Capital. LGE Design Build served as general contractor. Commercial Edge reports last year, Echo obtained a $53.6 million construction loan for the development, which broke ground in September 2022. Pacific Coast Partners provided the funds. The property is within the … 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 Marriott-Branded Hotel Slated for Love Field Texas + Dallas-Fort Worth + Hospitality | April 26, 2024 Love Field will be the site of a new Marriott-branded hotel. A five-story TownePlace Suites will go up where a dated self-storage facility sits just west of the airport. BRP Hospitality owns the site and expects to start construction the first quarter of 2026. The company has a demolition permit to raze the building. The … H-E-B Building 500 Acre Distribution Center Texas + Houston-Galveston + Industrial | April 26, 2024 H-E-B has closed on a land deal in Hempstead, Texas, as part of a multi-phase plan to develop nearly 500 acres and several distribution facilities. The project will be south of U.S. Highway 290 and east of Highway 6. Hempstead is a town of less than 1,000, 60 miles northwest of Houston. Details about the campus … Latest Washington DC Stories SES Signs 35K-SF Lease Restructure in Reston Washington DC + DC + Office | April 26, 2024 SES and SES Space & Defense have inked a 35,000-square-foot lease restructure and relocation at Reston Square, 11790 Sunrise Valley Dr. in Reston, VA. As part of the deal, SES, a Luxembourg-based satellite communications company, will consolidate operations at the Reston property, serving as one of its main U.S. offices. Reston Square is a seven-story, … TSCG Appoints Michelle Gutierrez DC Regional Manager Washington DC + DC + Finance | April 26, 2024 The Shopping Center Group (TSCG) has appointed Michelle Gutierrez as the new regional manager in Washington, DC. With over 24 years of experience in commercial property management across the D.C., Maryland, and Virginia markets, Michelle brings a wealth of expertise to her new role. Prior to joining TSCG, Michelle served as a senior general manager … Latest Stories FromApollo to Take US Silica Private for $1.85B Direct Investment | April 26, 2024U.S. Silica will be acquired by funds managed by affiliates of Apollo Global Management, in an all-cash deal that values the 124-year-old diversified industrial minerals company at approximately $1.85 billion. U.S. Silica shareholders will receive $15.50 per share, which represents a 18.7% premium to its closing share price of $13.06 on April 25, the last ...New Mexico Pension Directs $550M to Real EstateAlternative Assets | April 26, 2024The New Mexico State Investment Council has approved $550 million for three real estate funds. Carlyle Realty Partners X, a continuation of an existing partnership with Carlyle Realty Partners, received $300 million. The fund specializes in multifamily, industrial, active adult apartments, and single-family rentals. The fund’s net IRR target is in the mid-teens. The $52 ...T-Mobile, EQT Form Fiber JV to Acquire LumosDirect Investment | April 26, 2024T-Mobile and global investment firm EQT have signed a deal to create a fiber broadband joint venture that will include the fiber assets of broadband provider Lumos, which is already owned by EQT. Washington-based T-Mobile is expected to invest approximately $950 million in the JV to acquire a 50% equity stake and all existing fiber ...CLO Issuance “Blossoms” in Q1: KBRA CLOs | April 26, 2024Collateralized loan obligation (CLO) issuance “blossomed” in the first quarter of 2024, despite elevated interest rates, according to KBRA research. Leveraged loan volume and refinancing activity have increased significantly year on year, while structured credit transactions, including broadly syndicated loans and middle market CLO agreements, had a “tremendous” first quarter, with the latter setting a ...
