LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Navigating the CRE Landscape: One Organization is Transforming its Approach National + Global + Industrial | April 23, 2024 Fannie Mae Forecasts ‘Higher for Longer’ Interest Rates, Inflation National + Finance | April 23, 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 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 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 Allen Morris Eyeing Westside Trail for Mixed-Use Site Atlanta & Southeast + Atlanta + Apartments | April 23, 2024 The Allen Morris Company is planning to build a mixed-use project that would replace industrial properties in the area of Bankhead and the BeltLine’s Westside Trail. Two years ago, the company paid $31 million for the site. Allen Morris submitted plans to a state planning agency outlining details of what could take shape on 15.5 … Plastics Recycler Developing $950M Georgia “Circularity Center” Atlanta & Southeast + Georgia + Industrial | April 23, 2024 Brightmark plans to develop a 2.5 million-square-foot circularity center in Thomaston, Georgia, an hour NE of Columbus. The facility, which will cost $950 million to build, will have the capacity to repurpose over 400,000 tons of plastic per year. Brightmark’s system takes discarded plastic content and converts it into materials to create new circular plastic products, … Latest Boston & New England Stories Suffolk Downs 475-Unit Resi Building Launches Leasing Boston & New England + Boston + Apartments | April 23, 2024 The HYM Investment Group, with Cathexis and National Real Estate Advisors, has launched the pre-leasing at Amaya, a residential building at Suffolk Downs in Boston. The 475-unit project will offer 34,000 square feet of amenities and 24,000 square feet of retail, with move-ins starting in June. Suffolk Downs Master Site aims for 10,000 units upon … Hajjar Lands $10M to Turn Fall River Church into Housing Boston & New England + Massachusetts + Finance | April 23, 2024 Hajjar Management secured $10.6 million in financing from Rockland Trust for the redevelopment of the 151-year-old Sacred Heart Church and rectory in Fall River, Massachusetts. The former 37,850 square feet church and rectory, located at 160 Linden Street, will be converted into 46 market-rate apartments. The project, named Sacred Heart Lofts, is expected to be completed in February 2025, … 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 Brightline West Breaks Ground on High-Speed Vegas-SoCal Rail Line California + Inland Empire + Hospitality | April 23, 2024 Brightline West broke ground Monday on what it called the nation’s first true high-speed rail system, which will connect Las Vegas to Southern California. With project costs estimated at $12 billion, the 218-mile system will be constructed on the Interstate 15 median and is based on Brightline’s vision of connecting city pairs that are too … Topgolf Slates May Opening for Montebello Venue California + Los Angeles + Retail | April 22, 2024 Topgolf will open its new three-story Montebello facility on May 3, some 14 months after breaking ground. It will be the company’s 100th global outdoor Topgolf venue and its third facility in the Los Angeles area. The new venue anchors the redesigned Montebello Golf Course that the City of Montebello recently transformed into two courses: The first course is a traditional … Latest Chicago & Midwest Stories First Financial Bank Opens Chicago Branch in Fulton Market Chicago & Midwest + Downtown + Office | April 22, 2024 Cincinnati-based First Financial Bank is expanding to Chicago, opening an office headquarters in Fulton Market. Jeff Steigelman will serve as commercial banking regional market president for Chicago and Northwest Indiana, at the company’s 8,000-square-foot location at 305 N. Peoria Street. “Establishing a physical presence in Chicago is an exciting step for First Financial,” said Archie … Kansas City MF Development Secures $13M Equity Investment Chicago & Midwest + Midwest + Apartments | April 22, 2024 The JLL team was led by Managing Director Mark Erland and Director Kevin Barron. “3rd and Grand is an exceptionally well-designed project that will benefit from its transit-oriented location with city incentives, Kansas City’s booming market fundamentals and its seasoned development team,” said Barron. Upon completion in 2026, 3rd and Grand will be a mid-rise … Latest Florida & Gulf Coast Stories Stark Building 454-Unit Summerfield BTR Community Florida & Gulf Coast + Central Florida + Apartments | April 23, 2024 Stark Enterprises is building Summer Pointe Village, a 454-unit, build-to-rent community on approximately 110 acres at 16152 SE 77th Court Road, Summerfield, FL. The project will be split into two phases: 252 units in the first phase and 202 in the second. Set to break ground on the first phase in the spring of 2024, … Oak Row Lands $181M Construction Loan for Miami Apartment/Office Highrise Florida & Gulf Coast + South Florida + Apartments | April 23, 2024 Oak Row Equities started work on a multifamily and office tower in the Edgewater district of Miami. Oak Row obtained a $181 million construction loan from Bank OZK. Coastal Construction Group is building the project, 2600 Biscayne Boulevard. Arquitectonica is doing the design work. The 41-story building will take over an entire city block and … 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 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 … Fannie Mae Forecasts ‘Higher for Longer’ Interest Rates, Inflation National + Finance | April 23, 2024 Stronger-than-expected economic and inflation data have pushed interest rates higher and financial markets to price in fewer Federal Reserve rate cuts this year, the Fannie Mae Economic and Strategic Research (ESR) Group said in its April 2024 commentary. The ESR Group nonetheless continues to forecast slowing employment and economic growth, along with progress toward 2% inflation over … Latest New York & Tri-State Stories Fifth Wall Names Jeremy Fox, G.M. Nicholas Vik Co-Presidents New York & Tri-State + New York + Finance | April 23, 2024 Fifth Wall, an asset manager based in New York, has appointed Jeremy Fox and G.M. Nicholas “Magnus” Vik as Co-Presidents, a new position aimed at guiding the company through its next phase of growth. The appointments are effective as of April 2024, and both Fox and Vik will report directly to Brendan Wallace, Chief Executive Officer … ZD Jasper Buys LIC Waterfront Development Site for $47M New York & Tri-State + Outer + Finance | April 23, 2024 JLL Capital Markets recently completed the $47 million sale of 45-40 Vernon Boulevard, a development site with an approved concept plan at the Anable Basin on the Long Island City waterfront. The site was sold by CSC 4540 Property Co., LLC, a joint venture of Quadrum Global, Baron Property Group, and Simon Development, and purchased … Latest Phoenix & Southwest Stories Ray, VeLa Begin Work on 401-Unit Phoenix Highrise Phoenix & Southwest + Phoenix + Apartments | April 23, 2024 Ray and VeLa are combining efforts to build a 26-story residential highrise in the Roosevelt Row Arts District. Designed by architectural firm Johnston Marklee & Associates, the Ray Phoenix hopes to leave its mark by making art, architecture, and design highly accessible to its residents. Maricopa County records indicate Axos Bank provided the developers with an … XNRGY Building $300M Mesa Facility Phoenix & Southwest + Phoenix + Industrial | April 23, 2024 HVAC company XNRGY is building the first phase of an Arizona facility that will encompass 275,000 square feet. The company plans to make an initial $300 million capital investment in its new plant in the Mesa area and eventually create a 1,000,000-square-foot sustainable manufacturing hub. The Boyer Company provided the financing. The company says it delivers comprehensive … Latest Seattle & Northwest Stories Monolithic Power Buys Ground Lease at Boeing Field in Seattle Seattle & Northwest + Seattle + Industrial | April 22, 2024 Semiconductor supplier Monolithic Power Systems Inc. bought a ground lease at King County International Airport-Boeing Field for $18.3 million, reported the Puget Sound Business Journal.The parcel involved in the deal spans approximately 8.13 acres of land and was sold by Seattle businessmen Dan Baty and his son Stan Baty. Dan Baty is co-founder of Columbia … LIHI to Develop Affordable Homes in Seattle’s U District Seattle & Northwest + Seattle + Apartments | April 22, 2024 The Low Income Housing Institute (LIHI) was selected by the Seattle Office of Housing to develop affordable housing on Sound Transit’s property at 1000 NE 45th Street in Seattle’s University District. The site is approximately two blocks from the U District light rail station. The proposed 12-story building will feature 160 apartments, approximately one-third of … Latest Texas Stories KBS Spins Off Austin Industrial Center Texas + Austin + Industrial | April 23, 2024 KBS has sold the SouthTech Business Center, a four-building, 260,112 square-foot Class A, light industrial property in Austin, Texas. Home to a mix of regional and national tenants, the 93% leased property, was purchased by a 1031 investor represented by MIG Real Estate. KBS’s Gio Cordoves adds, “Over the last 10 years, SouthTech Business Center had an … Bradford Completes $6.5M Dallas Office Renovation Texas + Dallas-Fort Worth + Office | April 23, 2024 It looks like Bradford MPT Partners’ $6.5 million renovations to its Meadow Park Tower have borne fruit. The building at 10440 N. Central Expressway in Dallas has achieved the highest environmental assessment rating for an office project issued to date by BRE Global in Dallas/Fort Worth. The company acquired the property in 2021. MPT Partners … Latest Washington DC Stories KLNB Expands MF Team with Two New Hires Washington DC + DC + Finance | April 23, 2024 KLNB has added Sean and Jack Brown to its multifamily capital markets team in Towson, Md. The brothers bring nearly 20 years of combined experience, focusing on Baltimore. Their client-focused approach has over $100 million in combined sales. KLNB’s move into multifamily began in Q1 2023 when the company acquired Edge Commercial. Recent Maryland transactions … TNT Relocates to Prince George with 11K-SF Lease Washington DC + Maryland + Industrial | April 23, 2024 TNT Services Group, Inc., a company specializing in windows, doors, and other supplies for real estate, is relocating and expanding its facilities to St. John Properties’ Melford Town Center in Prince George’s County, Maryland. The company has signed a lease for 11,501 square feet of space and plans to move approximately 10 employees this summer to Bowie, MD. St. John Properties’ … Latest Stories FromGoldman to Unload Robo Platform to BettermentDigital Banking | April 23, 2024Goldman Sachs continues to exit from its consumer banking business, agreeing to sell its Marcus Invest digital investing accounts to digital investment advisor Betterment. Betterment will take on Marcus Invest customers who do not opt out by late June. Those that are transferred will join Betterment, which serves over 850,000 consumers and manages $45 billion ...The $84T Great Wealth Transfer Financial Advisory | April 23, 2024Wealth managers are preoccupied with two data points: $84.4 trillion and 70% to 80%. The first is the estimated wealth that high-net-worth individuals in the U.S. will pass to their heirs through 2045. The second is the percentage of heirs who may switch their business from their parents’ advisor to a new wealth manager. Cerulli Associates, ...Steward Partners Adds $488M with Double AcquisitionDirect Investment | April 23, 2024Steward Partners, a financial services firm, announced the acquisitions of financial advisory firms Monaco Capital and Saling Simms under Steward Partners’ Freedom Street merger. The two firms will add five advisors and a combined $488 million in client assets to Virginia Beach, VA-based Steward Partners’ team and will become equity partners. Monaco Capital is also ...Citizens Adds $5B JP Morgan Trio to Expand Wealth UnitFinancial Advisory | April 23, 2024Citizens Financial Group is expanding its wealth management operations in California with a 12-person advisory team that formerly managed $5 billion for ultra-high-net-worth clients at J.P. Morgan Securities. The announcement follows the appointment of Paul Casey as head of wealth management. The San Francisco-based team is led by senior managing directors Rick Gordon and Hugh ...
