LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Elevated Apartment Demand Outpaced by New Deliveries National + Apartments | April 12, 2024 Prime Multifamily Metrics Tick Upward for First Time in Two Years National + Apartments | April 15, 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.comSummerstone Apartment HomesHouston, TXTexas + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$24,000,000No. of Units:242Year Built:1984Lot Size:188917 AcresOpportunity Zone:NoPrice per unit:$99,173Learn More1875 Lexington AvenueNew York, NYNew York & Tri-State + Apartments + Mixed-UseListing Status:AvailableListing Type:Highest & best offerPrice:$13,900,000No. of Units:36Opportunity Zone:NoPrice per unit:$386,111Learn More1132 W Duarte RdArcadia, CACalifornia & West + ApartmentsListing 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 GoodHomes Converting Triad Hotel to Apartments Atlanta & Southeast + Carolinas + Apartments | April 15, 2024 Forman Capital provided a $9.41 million construction loan to a developer who will convert a vacant hotel into an apartment community. GoodHomes Communities will soon begin construction on a 5.25-acre site located at 2444 Maple Ave. in Burlington, N.C. Ben Jacobson, Scott Mehlman and Ty Regnier originated the debt on behalf of Forman Capital. GoodHomes is planning … Co-Warehousing Catching On in Raleigh Atlanta & Southeast + Carolinas + Industrial | April 15, 2024 The co-warehousing trend seems to be catching on. The Raleigh Business Journal reports Blue Co. Warehousing is building a third version of its warehousing concept. On the company’s website, Blue Co. says it is building out a scaled network of co-warehousing spaces for service-based companies, tradespeople, makers, food & beverage entrepreneurs, e-commerce professionals, and more. … Latest Boston & New England Stories Hub Hall Debuts New Food Offerings Boston & New England + Boston + Hospitality | April 15, 2024 Hub Hall, located adjacent to TD Garden in Boston, has introduced three new food offerings just in time for the upcoming playoff games for the Bruins and Celtics. Among the new additions are Cini’s, an Italian eatery offering arancini, pizza, and pasta; Adrianos by Chef Monique, specializing in soul food classics like macaroni and cheese … Brookline Looks to Rezone Route 9 Land Boston & New England + Boston + Finance | April 15, 2024 Brookline is seeking to rezone a portion of its Route 9 stretch to emulate the commercial development seen in neighboring Newton, Boston Business Journal reported. The initiative aims to attract new commercial ventures to enhance tax revenue. The proposed area currently houses older commercial properties but lacks the vibrancy of its Newton counterpart, featuring shopping plazas like … Connect TeamPaul BubnySenior Content DirectorJosh OrensteinVice President, News & MediaJohn HalloranVice President of Creative & MarketingView 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 Newmark Bolsters Private Capital Market Platform with New Hires California + Los Angeles + Finance | April 15, 2024 Newmark hired industry veterans Andrew Jennison as vice chairman and Daniel Pickart as senior managing director. Based in the Century City office, the team will contribute to the growth of Newmark’s Private Capital Market platform, focused on private investment advisory in the $10-million to $100-million range while also specializing in strategic agency leasing and tenant … Costa Mesa Apartments Trade for $479K Per Unit California + Orange County + Apartments | April 15, 2024 CBRE arranged the sale of a 12-unit multifamily property, Ebtide, in Costa Mesa for $5.75 million to a private investor. The selling price represents $753 per square foot and over $479,000 per unit. EVP Dan Blackwell, first VP Mike O’Neill and associate Jack O’Connor represented both the buyer and seller in the non-exchange transaction. The buyer was … Latest Chicago & Midwest Stories Graycor Reels in Construction at New Bass Pro Shop in Ohio Chicago & Midwest + Midwest + Retail | April 15, 2024 Graycor Construction Company has completed work on Bass Pro Shops’ newest store in the greater Cincinnati area. The Bass Pro Shops Outdoor World is located at 5951 Bass Pro Drive, West Chester, Ohio, at the intersection of Interstate 75 and Allen Road. The 125,000-square-foot Outdoor World store provides an immersive outdoor experience, including a fire … Peak Properties Adds South Loop Building to Its Portfolio Chicago & Midwest + Downtown + Apartments | April 15, 2024 Peak Properties LLC has added Uncommon, a 43-unit South Loop building located at 2101 S Wabash Avenue, to its growing management portfolio. The boutique apartment building has loft-style floor plans with studios, one-, and two-bedroom units. Situated on the corner of 21st Street and Wabash Avenue, the property offers easy access to the Cermak-McCormick Green … Latest Florida & Gulf Coast Stories Hotel/Apartment Combo Project Eyed by Miami Developer Florida & Gulf Coast + South Florida + Apartments | April 15, 2024 A Miami city planning board will vote later this month on plans for a proposed 28-story mixed-use tower in the Edgewater neighborhood, the second phase of the recently completed Metro Edgewater apartments. The property is a vacant site of 0.73 acres at 3055 N.W. Fourth Ave. It’s next to a 32-story tower with 279 … JV Raises $71M for Miami Senior Housing Florida & Gulf Coast + South Florida + Senior Housing | April 15, 2024 Housing Trust Group (HTG) closed on financing and commenced construction on Naranja Grand II, a new $71 million affordable apartment community comprised of 200 residences in Southwest Miami-Dade County. A joint endeavor between HTG and Miami Lakes-based Elite Equity Development, Inc. (EED), Naranja Grand II is the second phase of a two-phase development in Miami-Dade County. The … Latest Global Stories 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 … AFIRE Survey Ranks LA, DC as Top U.S. Markets for CRE Investment National + Global + Finance | March 27, 2024 Los Angeles, Washington, DC, Seattle, Dallas and New York City are the top U.S. cities for investment in 2024, according to the latest AFIRE International Investor Survey. That being said, if given the option of investing with “fresh books” in a city, the largest number of global investors selected Charlotte as a priority market, followed by … Latest Lenders Stories Latest National Stories Prime Multifamily Metrics Tick Upward for First Time in Two Years National + Apartments | April 15, 2024 Multifamily metrics including going-in cap rates, exit cap rates and unlevered IRR targets for prime assets showed slight improvement in the first quarter, the first such uptick since the Federal Reserve began raising interest rates in early 2022, CBRE reported. The positive spread between going-in and exit cap rates stabilized at 12 basis points in … Bozeman Tops List for College Town Students, Investors National + Student Housing | April 15, 2024 In a ranking of the top college towns in the U.S., Bozeman, MT came in at number one, according to a RentCafe study reported by Coldwell Banker Commercial. The ranking was based on 12 different metrics, including cost of living, tuition fees, graduation rates, and others. “Staying informed about the top college towns of any … Latest New York & Tri-State Stories PE Firm Antares Expands to 76K SF at 280 Park New York & Tri-State + Midtown New York + Office | April 15, 2024 Private equity firm Antares Capital has expanded its offices at 280 Park Avenue in Midtown to 76,000 square feet across the entire 20th through 23rd floors. The renewal and expansion deal, with an asking rent of $110 per square foot, extends Antares’ lease until 2034. Antares previously occupied 55,000 square feet on the 21st … TV Station NTD Buys Chelsea Office Building for $31M New York & Tri-State + Downtown New York + Finance | April 15, 2024 Epoch Media’s TV arm, New Tang Dynasty (NTD), bought 129 West 29th Street in Chelsea for $31 million from Samson Management. Samson purchased it for $54 million in 2012 from Thor Equities. Founded by John Tang, The Epoch Times and NTD saw a resurgence during the 2020 presidential campaign, raising $8.4 million while covering topics … Latest Phoenix & Southwest Stories Bisbee’s Copper Queen Up for Sale Phoenix & Southwest + Arizona + Hospitality | April 15, 2024 It’s been around since Arizona became a state, and now the famous Copper Queen Hotel in Bisbee is hitting the market. Built in 1902, the iconic hotel survived the 1908 fire and the closing of the copper mine in 1974. It was constructed by the owners of the Copper Queen Mine, the Phelps Dodge company, … First ALDI to Open in Tucson Phoenix & Southwest + Arizona + Retail | April 15, 2024 ALDI, the cut-rate German supermarket chain, will open its first store in Tucson. It will be coming to Tucson Marketplace at the Bridges. ALDI purchased 2.05 acres of land at 871 E Tucson Marketplace for $2.2 million to construct a 20,870-square-foot store. The seller was BP Bridge Partners, an affiliate of Bourn Properties, represented by … Latest Seattle & Northwest Stories Gantry Secures $40.5M Loan for Oregon MF Seattle & Northwest + Oregon + Apartments | April 15, 2024 Gantry has secured a $40.5 million permanent loan to retire construction financing for the recently completed and now-stabilized class-A apartment project. The 264-unit complex boasts a variety of floorplans, including one-, two-, and three-bedroom options, spread across 23 buildings on approximately 17 acres of land. Gantry’s Blake Hering, principal, and Crischell Bacarro, associate, with Gantry’s … Amazon, LISC Puget Sound Invest in Affordable Housing Development Seattle & Northwest + Seattle + Apartments | April 15, 2024 Local Initiatives Support Corporation (LISC ) Puget Sound, in collaboration with the Amazon Housing Equity Fund, announced the second cohort of Housing Equity Accelerator Fellows. The diverse group includes 20 individuals from ten for-profits and nine nonprofits, with a shared commitment to advancing affordable housing and community development in the Puget Sound region. “We’re grateful … Latest Texas Stories Amazon Plans 141K-SF Austin-Area Tilt-Up Texas + Austin + Industrial | April 15, 2024 Amazon has gone public with plans to start work on a 141,000 square foot concrete tilt-up in Robinson Ranch northwest of Austin. The $73 million project is along County Road 172. Amazon’s had the 193-acre parcel since 2021 and received zoning on it in the interim. The north part of the building is slated as … 18 Walmart Health Centers to Open in Texas Texas + State of Texas + Healthcare | April 15, 2024 Walmart is opening 18 Walmart Health Centers in Texas. Three are now open in Pearland, Sugar Land and Tomball. Eight will be in the Houston area, the remainder in North Texas. The remaining 15 new Walmart Health centers in Texas will open throughout the summer and fall. The facilities are approximately 5,400 square feet, located beside … Latest Washington DC Stories DC Developer Warrenton Group Bids for Virginia Casino Washington DC + DC Metro + Hospitality | April 15, 2024 The Warrenton Group, led by CEO Warren Williams, is among the contenders for developing a new casino in Petersburg, Virginia. Teaming up with casino operator Delaware North, they are competing with big names like The Cordish Cos., Bally’s Corp., Penn Entertainment Inc., and Rush Street Gaming LLC, Washington Business Journal reported. The Virginia General Assembly will soon … Precision for Medicine Adds 41K-SF R&D Lease in Bethesda Washington DC + Maryland + Industrial | April 15, 2024 Precision for Medicine, LLC, a clinical development company based in Bethesda, MD, has renewed and expanded its leases with St. John Properties, Inc. at Riverside Tech Park in Frederick, Maryland. The company, operating globally, has been leasing space from St. John Properties in Frederick since 1999. They currently occupy the entire 75,000 square foot building … Latest Stories FromAlphaTrAI Names Fintech Innovator as PresidentAlternative Assets | April 15, 2024AlphaTrAI has appointed John Sweeney as president to help drive growth in its artificial intelligence (AI) consulting and solutions business. The firm cited Sweeney’s expertise in investment management, digital assets, product development and technology as key drivers of its decision. He will report to AlphaTrAI CEO and chairman Bill Dwyer. “John’s deep expertise in technology, ...Clear Street Launches U.S. Equities, Options Clearing ServicesMajor Equity Indices | April 15, 2024Clear Street, a New York-based financial services firm, has launched clearing services for registered market makers in listed U.S. equities and options, its first presence in the professional clearing market in close to a decade. The service is powered by Clear Street’s cloud-native prime brokerage platform. The company said its approach empowers U.S. options market ...Texas Teachers’ Retirement Pumps $149M into Alts PortfolioAlternative Assets | April 15, 2024The Teacher Retirement System of Texas has invested an additional $149 million in alternative investments across its real estate, infrastructure, and private equity portfolios. In real estate, the $185 billion Austin-based pension fund invested $75 million in a new opportunistic manager, Inceptiv Management. On March 18, Inceptiv RED 2 was launched with pension fund financing. ...Equinix, PGIM Real Estate Form $600M Data Center JV Alternative Assets | April 15, 2024Equinix, a digital infrastructure company, and PGIM Real Estate, PGIM’s real estate investment and financing arm, have launched a $600 million joint venture to develop and run the first xScale data center in the U.S. The two-story facility, known as SV12x, will be in San Jose, CA, as part of Equinix’s Great Oaks data center ...
