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PropmodoNews
California Developers Build Vertiports Before Air Taxis Win Approval
Luxury developers in Los Angeles and New York are building vertiports for electric air taxis years before FAA certification arrives. The post California Developers Build Vertiports Before Air Taxis Win Approval appeared first on Propmodo . ]]>
PropTech & DataAlternativesU.S. NationalCalifornia
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PropmodoNews
AI Wealth Fuels Bidding Wars and Million-Dollar Premiums in San Francisco Housing
San Francisco home prices surge 22 percent as AI wealth drives bidding wars, with 44 homes selling $1 million over asking in June alone. The post AI Wealth Fuels Bidding Wars and Million-Dollar Premiums in San Francisco Housing appeared first on Propmodo . ]]>
PropTech & DataHomebuildersSingle-Family RentalU.S. NationalSan Francisco
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PropmodoNews
Sovereign Wealth Funds Double Down on Grocery-Anchored Retail Real Estate
Norway's $2.2 trillion sovereign wealth fund partners with Asana on a $500 million U.S. retail property investment focused on grocery-anchored centers. The post Sovereign Wealth Funds Double Down on Grocery-Anchored Retail Real Estate appeared first on Propmodo . ]]>
PropTech & DataRetailAlternativesU.S. NationalNorway
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PropmodoNews
Trade Group Drops NAIOP Acronym for Plainspoken Industry Label
NAIOP rebrands as the Commercial Real Estate Development Association after multiyear research process involving 21,000 members across North America. The post Trade Group Drops NAIOP Acronym for Plainspoken Industry Label appeared first on Propmodo . ]]>
PropTech & DataU.S. NationalCanada
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PropmodoNews
FTC Takes Zillow and Redfin Rental Partnership to August Trial
Federal judge sends FTC case against Zillow and Redfin rental partnership to trial, rejecting preliminary injunction over $100 million exclusive listing agreement. The post FTC Takes Zillow and Redfin Rental Partnership to August Trial appeared first on Propmodo . ]]>
PropTech & DataSingle-Family RentalU.S. National
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PropmodoNews
The Technology Keeping Watch on Manhattan’s Buckled Skyscraper
When structural columns buckled at 235 East 42nd Street, drones and advanced sensors became vital tools for real-time safety and stability monitoring. The post The Technology Keeping Watch on Manhattan’s Buckled Skyscraper appeared first on Propmodo . ]]>
PropTech & DataOfficeU.S. NationalNew York
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The RegistryNews
Pickleball Kingdom Converts 25,159 SQFT Former Joann Store Into Eight-Court Livermore Club
Pickleball Kingdom, the largest indoor pickleball operator in the world, will take over a vacant Joann fabric store in Livermore’s Arroyo Seco Shopping Center and rebuild it as an eight-court club, the latest example of a sports operator absorbing big-box space that traditional retailers no longer want. The…
Capital MarketsRetailAlternativesU.S. NationalSan Francisco
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The RegistryNews
SM Flores Files Plans for 80-Unit, Seven-Story Apartment Project at 2555 Flores Street in San Mateo
A locally based developer is moving to convert an aging San Mateo office parcel into 80 apartments, betting on a Peninsula rental market that analysts expect to tighten sharply through the rest of the decade. SM Flores, LLC has filed a formal planning application to demolish an existing office building at 2555…
Capital MarketsOfficeMultifamilyU.S. NationalSan Francisco
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The RegistryNews
San Francisco Warns Developers: Build Stalled Office Projects or Forfeit Prop M Allocations
San Francisco’s planning chief has moved to reclaim dormant office development rights from developers sitting on long-stalled downtown projects, threatening to strip their Proposition M allocations as City Hall races to refill a depleted pool amid a competitive scramble for the Financial District’s first…
Capital MarketsOfficeU.S. NationalSan Francisco
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The RegistryNews
Travelers Insurance Anchors 198,000 SQFT Leasing Surge as Walnut Creek Office Market Snaps Two-Year Losing Streak
After ten consecutive quarters of shrinking occupancy, the North I-680 Corridor office market recorded 196,732 square feet of positive net absorption in the second quarter of 2026, powered by a 46,219-square-foot Travelers Insurance commitment in Concord and a wave of owner-user acquisitions that pushed pricing to…
Capital MarketsOfficeU.S. NationalSan Francisco
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The RegistryNews
Olema Oncology Leases 38,000 SQFT at Kilroy Oyster Point, Moving Headquarters to South San Francisco
Clinical-stage breast cancer company Olema Oncology has committed to 38,176 square feet at Kilroy Realty’s 365 Oyster Point Boulevard under a seven-year lease, relocating its headquarters out of San Francisco and pushing the building to roughly 60 percent leased months before the pivotal readout that will determine…
Capital MarketsLife SciencesU.S. NationalSan Francisco
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The RegistryNews
Archer Aviation Leases Entire 501,000-SQFT Cochrane Technology Center in Morgan Hill to Scale Air Taxi Production
Air taxi maker Archer Aviation has committed to all five buildings at Trammell Crow Company’s 30-acre Cochrane Technology Center in Morgan Hill, a full-campus deal that hands the fast-growing eVTOL manufacturer more than a half-million square feet as it pivots from testing to commercial production. Archer Aviation…
Capital MarketsIndustrial & LogisticsU.S. NationalSan Francisco
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The RegistryNews
California’s Share of U.S. Export Trade Slips to 8% as Real Shipment Value Falls
California shipped $16.735 billion in merchandise abroad in May while the rest of the country surged ahead, dropping the state’s share of national export trade to 8 percent and raising fresh questions about demand for the warehouse and port infrastructure built to serve it. The Golden State’s exporters posted a…
Capital MarketsIndustrial & LogisticsU.S. NationalCalifornia
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REBusiness OnlineNews
CP Group Signs 35,000 SF of Leases at Caprock Office Campus in Bethesda, Maryland
BETHESDA, MD. — CP Group, along with a fund managed by DRA Advisors, has signed six leases over the past three months at Caprock, a 709,313-square foot office property located in Bethesda. Totaling approximately 35,000 square feet, the new tenants include nonprofit mechanical contractors’ organization MCA of…
Capital MarketsOfficeU.S. NationalMaryland
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REBusiness OnlineNews
Quantum Negotiates $5.8M Sale of Shopping Center in Aurora, Illinois
AURORA, ILL. — Quantum Real Estate Advisors Inc. has negotiated the $5.8 million sale of a 23,000-square-foot shopping center located at 405 N. Eola Road in Aurora. The center consists of 13 suites and is home to local, regional and national tenants. Brett Berlin of Quantum brokered the transaction. A local…
Capital MarketsRetailU.S. NationalIllinois
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REBusiness OnlineNews
StreetLights Residential Completes 134-Unit Apartment Building in Houston
HOUSTON — Dallas-based developer StreetLights Residential has completed The Langley, a 134-unit apartment building located near Rice University in Houston’s Museum District. The Langley is a 20-story building that houses two- and three-bedroom units that range in size from 2,165 to 3,396 square feet. Residences are…
Capital MarketsMultifamilyU.S. NationalDallas-Ft. Worth
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REBusiness OnlineNews
SummerHill Breaks Ground on 251-Unit Multifamily Property in San Carlos, California
SAN CARLOS, CALIF. — SummerHill Apartment Communities has broken ground on 11 El Camino Real, a 251-unit multifamily community situated on 2.2 acres in San Carlos, located about 23 miles south of San Francisco. Completion is slated for 2028. SummerHill is a subsidiary of Marcus & Millichap and is based in Palo…
Capital MarketsMultifamilyU.S. NationalCalifornia
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REBusiness OnlineNews
Merchants Capital Arranges $10.8M in Financing for Affordable Housing Development in Kansas
LAWRENCE, KAN. — Merchants Capital has arranged $10.8 million in permanent financing for Floret Hill, a 121-unit affordable housing development in Lawrence. Merchants Capital secured a Freddie Mac Unfunded Forward TEL loan for the project. The capital stack also includes federal and state low-income housing tax…
Capital MarketsAffordable HousingDebt & FinancingU.S. National
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REBusiness OnlineNews
Concord Summit Capital Arranges $115.5M Construction Loan for Multifamily Development in Fort Collins, Colorado
FORT COLLINS, COLO. — Concord Summit Capital has arranged a $115.5 million construction loan for Collins at Union Park, an apartment community in northern Colorado. Daniel Eidson, Keegan Burger and Ben Applebaum of Concord Summit Capital secured the nonrecourse loan, which features an 88 percent loan-to-cost ratio,…
Capital MarketsMultifamilyDebt & FinancingU.S. NationalColorado
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REBusiness OnlineNews
Ascendant Purchases Eight-Hotel Portfolio Across Virginia Beach, Outer Banks
LOS ANGELES — Los Angeles-based Ascendant Capital Partners has acquired an eight-property hotel portfolio across Virginia Beach and North Carolina’s Outer Banks region. CBRE Hotels, the hospitality division of CBRE Group, represented the seller, Coastal Hospitality, in the transaction. CBRE also served as financial…
Capital MarketsHospitalityU.S. National
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REBusiness OnlineNews
Spear Street Capital Buys Lower Manhattan Office, Retail Building for $50.5M
NEW YORK CITY — San Francisco-based investment firm Spear Street Capital has purchased 76 Eighth Avenue, a 10-story office and retail building in Lower Manhattan, for $50.5 million. The 35,620-square-foot building was completed in 2022 and was fully leased at the time of sale, with Wells Fargo occupying the retail…
Capital MarketsOfficeRetailU.S. NationalSan Francisco
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REBusiness OnlineNews
JLL Arranges $56.1M Sale of Industrial Property Near Orlando Airport
ORLANDO, FLA. — JLL Capital Markets has arranged the $56.1 million sale of Cypress Park, a 256,838-square-foot industrial property located along Satellite Boulevard in Orlando. Luis Castillo, Cody Brais, Taylor Osborne, David Orta Jr. and Mia Gian of JLL represented the seller, Herbert Management Corp., in the…
Capital MarketsIndustrial & LogisticsU.S. NationalOrlando
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Commercial ObserverNews
More Commercial Real Estate Owners See Value in Special Servicing Platforms
More commercial real estate owners, including RXR and SL Green, are establishing special servicing platforms to manage distressed CMBS loans, leveraging their operational expertise in asset resolution while creating potential conflicts of interest when servicing loans of competitors. Rating agencies and pooling and servicing agreements provide oversight to mitigate conflicts, though Fitch has previously flagged concerns about affiliate influence, and industry experts remain divided on whether these arrangements ultimately benefit or harm bondholders despite structural post-2008 protections limiting special servicers' ability to acquire distressed assets.
Capital MarketsCMBSU.S. NationalNew York
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Commercial ObserverNews
Allen Féliz of MRI Software: 5 Questions
The article presents an interview with Allen Féliz, vice president of innovation for affordable and public housing at MRI Software, discussing the 21st Century ROAD to Housing Act's impact on real estate and proptech. Féliz describes how the legislation aims to increase housing supply by removing regulatory barriers and modernizing housing programs, which he argues will drive increased demand for proptech solutions in compliance management, workflow automation, asset management, and data visibility, while also expanding public-private partnerships in affordable housing development.
Capital MarketsPropTech & DataU.S. NationalNew York
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Commercial ObserverNews
From Builder to Partner
Wharton Smith Construction, a New York City commercial construction firm founded by Elliott Mishan, has scaled its operations to handle increasingly complex projects including office fit-outs, corporate headquarters, medical facilities, and adaptive reuse work while maintaining service quality through dedicated staffing roles, proprietary estimating systems, and experienced project leadership. The company has completed major projects including a 100,000-square-foot hotel-to-residential conversion in Lower Manhattan and a 110,000-square-foot luxury corporate headquarters build-out, emphasizing preconstruction planning, data-driven budgeting, and disciplined execution as competitive advantages in New York's evolving commercial real estate market.
Capital MarketsU.S. NationalNew York
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Commercial ObserverNews
Crestline, PLG Lend $59M on Dallas-Area Condos
Crestline Management and PACE Loan Group provided $58.7 million in construction financing for the Maranello Luxury Garages, an 80-unit luxury garage condominium project in Plano, Texas, with Crestline supplying $36.2 million in senior debt and PLG providing $22.5 million in C-PACE financing. The project is expected to reduce annual energy use by 28 percent and water use by 14 percent through sustainability improvements funded by the C-PACE component.
Capital MarketsMultifamilyDebt & FinancingU.S. NationalNew York
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Commercial ObserverNews
John Roesch Exits Meridian to Start Roesch Real Estate Group
John Roesch, after nearly a decade at Meridian Retail Leasing, founded Roesch Real Estate Group (RREG), a new retail leasing firm that plans to eventually add an investment sales team and focus on middle-market institutional-style execution. Roesch brought two colleagues from Meridian—Griffin Hanes and Jessica Blocker—to the five-person startup, which aims to grow by combining AI systems with traditional business development methods such as cold calling and in-person networking.
Capital MarketsU.S. NationalNew York
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Commercial ObserverNews
Jemal Equities Refinances D.C. Office Building With $27M CMBS Loan
Jemal Equities secured a $27 million commercial mortgage-backed securities loan from Citibank for the refinancing of 1750 H Street NW in Washington, D.C., arranged by Meridian Capital Group. The 123,000-square-foot office building was purchased by Jemal in July 2025 for $28.5 million when it was nearly vacant, and the new permanent debt replaced the initial bridge financing after the property achieved significant leasing momentum within a single year.
Capital MarketsOfficeCMBSU.S. NationalNew York
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Commercial ObserverNews
Twain Capital Supplies $65M C-PACE Loan for Colorado Hotel Project
Twain Capital Partners provided a $65 million Commercial Property Assessed Clean Energy (C-PACE) loan for the Foote's Rest mixed-use development in Frisco, Colorado, which will include an 80-key Marriott Tribute Hotel and an underground entertainment venue with bowling and golf facilities, with completion slated for October 2027. The St. Louis-based lender has originated $265 million in C-PACE loans since launching its platform in late 2025 and maintains a pipeline of $140 million under contract expected to close by the end of 2026.
Capital MarketsHospitalityDebt & FinancingU.S. NationalNew York
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Commercial ObserverNews
Siemens Financial, First Horizon Lend $65M on Palm Beach Gardens Medical Complex
Siemens Financial and First Horizon provided $64.8 million in construction financing for the Health Park at Avenir project in Palm Beach Gardens, Florida, a hospital and medical outpatient complex fully leased to Jupiter Medical Center. The project, located at 12001 Northlake Boulevard, comprises a two-story neighborhood hospital and three-story medical outpatient building totaling 101,517 square feet, with an approved future phase for 24,000 additional square feet of medical outpatient space.
Capital MarketsHealthcareDebt & FinancingU.S. NationalNew York
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Commercial ObserverNews
Douglaston Realty Offloads 7 Cornelia Street in West Village for $25M
Douglaston Realty sold 7 Cornelia Street, a five-story prewar West Village building containing 47 apartments and two ground-floor retail spaces, for $25 million, with the buyer masked behind a shell corporation and a $17.6 million mortgage from Woori America Bank. The property was originally acquired by Douglaston in 2013 for $24.6 million, and investor Hyun Jun An, who signed the mortgage documents, has been involved in recent acquisitions including 893 Broadway in the Flatiron District for $31 million and 16 East 18th Street for $16.3 million.
Capital MarketsRetailU.S. NationalNew York
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Commercial ObserverNews
Event Company Glasshouses Inks 70K SF at 175 Greenwich Street
Event company Glasshouses has leased 70,000 square feet at 175 Greenwich Street in the Westfield World Trade Center complex in Lower Manhattan to establish its flagship venue, Glasshouse Downtown, designed to accommodate nearly 1,500 guests across two full floors of Tower 3 with completion targeted for 2028. CBRE brokers Anthony Dattoma, Chris Mansfield, and Zachary Weil represented landlord Unibail-Rodamco-Westfield in the transaction, and the lease represents a long-term commitment by Glasshouses to host corporate events, conferences, galas, and other large-scale social gatherings.
Capital MarketsOfficeU.S. NationalNew York
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