What happened, and who moved.
A Golden apartment complex traded hands in a rare multifamily sale in the Denver suburb. Las Vegas-based Sierra Parkway Communities bought the Fox Hill Apartments, a 153-unit community at 17611 West 16th Avenue in Golden, for $32 million, the Denver Business Journal reported. The price pencils out to $209,000 per…
Blackstone Real Estate Income Trust is slamming the door shut on the self-storage sector. BREIT sold its final 79 assets in the sector during the second quarter, Bisnow reported, citing the firm’s second-quarter earnings report. BREIT scored an $852 million deal from the sale, netting $177 million in gains from the…
A vacant 19-story office tower in downtown Phoenix is getting a second life as a 340-room J.W. Marriott, marking a $200 million bet on the city’s still-evolving hospitality market. Las Vegas-based LaPour Partners is converting the tower at 400 East Van Buren Street in the Arizona Center, adding restaurants, a pool,…
A Seattle apartment building with a history tied to the World’s Fair traded hands in the buyer’s biggest deal yet. Bellevue-based Nordic Partners Investments bought the 107-unit property at 415 Boren Avenue in First Hill for $14.4 million, the Puget Sound Business Journal reported. The acquisition is the largest to…
Erez Asset Management successfully pushed for the sale of two real estate investment trusts in recent months. The activist investor is setting its sights on its next target: UMH Properties. Erez chair Bruce Schanzer called on UMH’s board to conduct a “thoughtful” review of strategic alternatives, according to a…
Marcel Arsenault is making a contrarian bet on the United States office market. In fact, it’s in his company’s latest real estate fund’s name. Colorado-based Real Capital Solutions launched RCS Contrarian Office Fund, the Commercial Observer reported. The fund launched with $350 million already raised, including…
Anthropic is angling to rival OpenAI in the race for data centers, partnering with a pair of prominent firms to ease the cost of the endeavor. The Claude company is teaming up with Macquarie Asset Management and Singaporean wealth fund GIC to form Theseus Infrastructure, Bloomberg reported. Macquarie and GIC will…
This is a monster-sized post because the largest real estate brokerage company in the world is gaslighting us about private listings. It will be interesting to see if the inquiries by the House Judiciary Committee and Senator Warren will mean anything. Compass is launching its “Fall Marketing Playbook,” which…
Post Brothers is putting a pair of multifamily buildings on the market in Philadelphia, trying to seize on the rising rental market in the city. Post listed The Darien at 815 Poplar Street and The Poplar at 900 North 9th Street for sale, the Philadelphia Business Journal reported. No asking price was given for the…
Condo shoppers can find deals in the Denver market. Median condo values in the region have fallen 14.3 percent from their 2022 peak of $370,000, Denverite reported, citing an analysis by local real estate agent Cooper Thayer. For the broader attached-home market that includes condos, townhomes and duplexes, median…
Panera Bread is giving the suburban Boston office market a toasty piece of news. The company is relocating its headquarters from St. Louis — where it was founded — to Weston, Massachusetts. Panera is taking 102,000 square feet at BXP’s 133 Boston Post Road, according to the Boston Business Journal. Financial…
Onyx Partners is pinching pennies to acquire JCPenney’s stores After a first failed attempt to sweep up a portfolio of hundreds of the retailer’s stores, New Jersey-based Onyx submitted a fresh bid of $934 million, CoStar reported. There are 117 stores in the real estate portfolio available, breaking down the offer…
Derek Jeter is taking a swing at developing in a major college town near you. Alum, a hospitality and real estate company backed by the former New York Yankees star, officially launched its business this week. Jeter will serve as a board adviser, ambassador and investor in the company. Co-founded by Paul Brenneke…
A fight over one of the Simon family’s real estate holdings spilled into court. Simon Property Group co-founder Herb Simon accused the family of his late nephew, David Simon, of orchestrating a last-minute corporate restructuring that stripped longtime investors of valuable rights, Inside Indiana Business reported.…
Tishman Speyer is moving into the Charlotte market with a bang: a $76.3 million purchase of a multifamily complex in Dilworth. The Berkshire Dilworth complex at 1351 East Morehead Street has 296 units that span floorplans from studio to two bedrooms. The ground floor of the complex has 3,000 square feet of space…
Marc Rowan is riding to Barry Sternlicht’s rescue when it comes to liquidity at the latter’s real estate investment trust. Apollo Global Management is investing more than $1 billion in a joint venture with Starwood Real Estate Income Trust, Bloomberg reported. The infusion will allow the Starwood entity to repay…
Another multifamily community in Greater Phoenix sold to an out-of-state investor. San Diego-based ColRich acquired the Avia 266 apartments at 2354 West University Drive in Mesa for $52.4 million, AZ Big Media reported. Beverly Hills-based Geringer Capital was the seller of the 267-unit property, which will be…
With the chill cast by the 21st Century ROAD to Housing Act set aside, players are returning to the build-to-rent space with aplomb. PCCP and Integrity Community Builders formed a joint venture to develop communities in the sector across the country, the Commercial Observer reported. The joint venture plans to pour…
If the nation’s capital is looking to expose one of its worst housing violators, it need look no further than itself. The District of Columbia Housing Authority ranks first on a housing violations dashboard kept by the D.C. Department of Buildings, NOTUS reported. The affordable housing organization counts more…
JPMorgan Chase is putting its money where its American Dream Initiative is. On Monday, the bank announced a goal to spend more than $750 billion on housing efforts through 2035, a 40 percent decade-over-decade increase in the company’s housing capital deployment. The announcement comes months after the company…
I’ve spilled a lot of digital ink on the topic of monopolistic behavior I’ve observed in the housing market as of late, so I thought I’d look back to the peak Rockefeller era of bad behavior. John D. Rockefeller Sr. was the architect of Standard Oil’s dominance, the person who built the monopoly machine we’re still…
Homeowners associations are taking a harder line on residents as they face higher costs and tighter margins. Foreclosure filings are rising sharply as mounting costs leave community boards with little room to absorb delinquent payments, the Wall Street Journal reported. There were more than 6,300 properties with…
The first thing you notice is the dust. It hangs over the rolling hills of a former horse farm outside Carlisle, Pennsylvania, as construction crews move mounds of dirt and drill through bedrock. Home to a stretch of the Appalachian Trail, Cumberland County still looks much as it has for generations, with farms and…
First, it was the Bay Area. Then the wave crashed into New York City. Now, the artificial intelligence leasing frenzy, which just pushed the tech industry’s share of the United States office market to an all-time high of 23 percent, has touched down in Seattle and Boston. On a list of cumulative AI leasing activity…
New York City’s office-to-residential boom has been operating under a microscope for the past month, and that’s simply because office buildings have become too valuable to get wrong. That notion was on display again this week when the Department of Buildings issued a partial stop-work order at SL Green’s conversion…
A historic downtown Denver office building that once lined up $17 million in public financing for a residential conversion is on the market after a foreclosure. The 98,600-square-foot, eight-story building at 820 16th Street, marketed as The George rather than its previous name of the Symes Building, is being…
Billionaire Charles Koch is the latest in a long line of real estate players ready to cash in on the data center boom. Koch Real Estate Investments, a subsidiary of Koch Inc., is receiving bids for its data center business, Edged. Unknown parties already submitted multiple bids that could result in a valuation of…
Blackstone is wheeling and dealing when it comes to its industrial real estate holdings, selling a portfolio to a joint venture for a ten-figure sum. PCCP and Stonemont Financial Group acquired the 38-property, 5.9-million-square-foot portfolio from Blackstone for upwards of $1 billion, the Commercial Observer…
Real estate private credit’s favorite Wall Street funding stream is on track for its most active year since 2021 — a sign that investors are growing more bullish on the sector’s outlook. Lenders issued $26 billion worth of collateralized loan obligations (CLOs) in the first half of 2026, according to KBRA. If it…
Another day, another potential data center company sale, this time involving the cleverly named “Netrality Data Centers.” Private equity behemoth TPG is in exclusive negotiations to acquire the Kansas City-based data center company, Bloomberg reported. The data center firm could be valued anywhere between $2…
A private California investor just spent upwards of $110 million to acquire a build-to-rent community in Phoenix. Scottsdale-based Cavan Companies sold Bungalows on Camelback, a 334-unit low-density residential community, to entities affiliated with Newport Beach-based Marlowe Moy of Golden Horizon Enterprises for…
Law firm Simpson Thacher & Bartlett appears poised to sign one of Washington, D.C.’s largest office leases of the year, but the deal may have been disclosed ahead of schedule. The company was said to be “at lease” for 200,000 square feet at Amancio Ortega’s 1445 New York Avenue, Bisnow reported. The deal was…
An out-of-state investor made its Washington debut with a $45 million multifamily acquisition in Greater Seattle. Reno, Nevada-based Oso Capital Advisors purchased the 198-unit Bower Village apartment complex in Kent, the Puget Sound Business Journal reported. An affiliate of Canadian real estate investment trust…
One of the largest AI data center projects in the country is becoming a case study in how secrecy, politics and real estate can converge to reshape an entire market. Meta’s $50 billion Hyperion campus in northeast Louisiana transformed thousands of acres of farmland into some of the state’s most valuable…
A two-building life sciences complex in Boston’s South End traded to its lender as the market’s downturn in the aftermath of the pandemic continues to sink properties once targeting a boom in demand. Blackstone-backed BioMed Realty handed the keys of the adjacent 1000 Washington Street and 321 Harrison Avenue to…
As lawmakers in the House of Representatives appear to be zeroing in on the partnership between Compass and a Chicago-area multiple listing service, regional MLSes are bracing for potential fallout from the scrutiny of antitrust concerns. Representatives from the residential brokerage behemoth and Midwest Real…
File this under potential “Abbott Elementary” plot devices. The Philadelphia Housing Authority and nonprofit HELP Development Corp. are teaming up on the redevelopment of a vacant schoolhouse in Philadelphia’s Strawberry Mansion neighborhood, WHYY reported. The goal is to create affordable housing for seniors. The…
Banks returned to commercial real estate lending in the first quarter after years of eschewing the industry. To the delight of developers and owners, the trend has continued. A handful of major banks made substantive increases to their commercial real estate loan balances from April to June, the Wall Street Journal…
A prominent hospital sold its campus in a Boston suburb in a potentially lucrative leasing play. Boston Children’s Hospital sold its campus at 10 Centennial Drive in Peabody to an affiliate of Barings for $62 million, the Boston Business Journal reported. The North Shore clinical outpost was purchased by a limited…
The “year of transition” for KKR’s real estate lending arm may see it transition out of the parent company’s purview altogether. The board of directors for KKR Real Estate Finance Trust is exploring strategic alternatives, Bisnow reported, as noted in the entity’s second-quarter earnings report. That could signal a…
By RCraig09 – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=179896547 I’ve long thought about the upward skew in the housing stock across many U.S. markets during my career. Existing housing is being torn down to make room for larger properties, driven by rising land values and the…
Replaces a $340M JPMorgan loan from February 2020.
Balfour Beatty signed a 35,139 SF lease at One Victory Park, relocating its US headquarters from Uptown Dallas.
Jackson Laboratory leased 41,000 SF at 619 West 54th Street's Hudson Research Center, owned by Taconic Partners' Elevate Research Properties.