What happened, and who moved.
NEW YORK CITY — London-based real estate brokerage firm Savills has completed its $1.1 billion acquisition of global advisory firm and real estate investment bank firm Eastdil Secured. The transaction was first announced in March, and the new company will be rebranded as Eastdil Secured Savills. Under the terms of…
INDIAN TRAIL, N.C. — Marcus & Millichap has brokered the $3.3 million sale of Village Shoppes, an unanchored retail strip center located at 323 Unionville Indian Trail Road in Indian Trail, about 16 miles southeast of Charlotte. A fund-based private equity group purchased the 12,075-square-foot property form a…
BELMONT, CALIF. — Voya Financial has provided a $22 million permanent loan for an undisclosed multifamily community in the Bay Area city of Belmont. Keystone arranged the financing at a fixed interest rate of 5.47 percent. Additional details of the transaction were not released. The post Voya Financial Provides…
WEST LAFAYETTE, IND. — Varcity has unveiled plans to open Varcity at Purdue, a 239-unit, university-based retirement community within Purdue University’s Discovery Park District. Developed in partnership with Purdue University and the Purdue for Life Foundation, the property will bring a new generation of residents…
FREDERICKSBURG, TEXAS — Houston-based developer DC Partners has topped out a 210-room hotel in the Central Texas city of Fredericksburg that will be operated under IHG Hotels & Resorts’ Kimpton brand. Designed by Merriman Anderson Architects with interiors by Curioso, the Kimpton Fredericksburg will be located…
NEW YORK CITY — A joint venture between locally based developer Lonicera Partners, New York-based investment firm Rabina and Boston-based owner-operator The Davis Cos. has begun leasing a 43-story apartment tower at 55 Willoughby St. in downtown Brooklyn. Designed by Colberg Architecture and known as House 55, the…
JACKSONVILLE, FLA. — Gateway Jax has signed six new tenants to leases at Peal Square, a 2 million-square-foot mixed-use project in downtown Jacksonville. The initial retail lineup for Vandeveer, the first mixed-use residential building within the district, will feature dining, wellness and lifestyle retailers and…
WAUWATOSA, WIS. — Irgens has broken ground on Viridia Apartments, the company’s first multifamily development, at 10600 W. Wisconsin Ave. in Wauwatosa. The four-story, 204-unit market-rate community will serve as the final component of a larger, 14-acre mixed-use redevelopment by Irgens in the Milwaukee County…
SANTA CLARA, CALIF. — Gantry has arranged a $9.6 million permanent loan for the refinancing of a two-building, infill light industrial property in Santa Clara. Tony Kaufmann and Jake Davis of Gantry represented the borrower, a private real estate investor, in the transaction. The 10-year, fixed-rate, nonrecourse…
WESTLAKE, FLA. — Minto Communities USA has sold a 24-acre parcel at Town Center West in Westlake, a master-planned community in South Florida’s Palm Beach County. The buyer, Walmart, plans to develop a 188,779-square-foot Walmart Supercenter at the site, including a separate convenience store and gas station. The…
HACIENDA HEIGHTS, CALIF. — Marcus & Millichap has brokered the $13 million sale of Hacienda Village, a retail center located at 2029 S. Hacienda Blvd. in Hacienda Heights, part of Southern California’s San Gabriel Valley. A Los Angeles-based private investor acquired the property for $549.80 per square foot. Ron…
SCHOFIELD, WIS. — Marcus & Millichap has brokered the $15 million sale of Schofield Mill Apartments, an 84-unit multifamily property in Schofield within central Wisconsin. The property is situated on 1.5 acres along the Eau Claire River. Built in 2022, the community features a mix of one-, two- and three-bedroom…
APEX, N.C. — Boston-based Marcus Partners has purchased a site off Jenks Road in Apex for the development of Alta Apex, a 280-unit apartment community. The project represents the first development in the Raleigh-Durham market for Marcus Partners, which is spearheading the construction from its Atlanta office along…
WICHITA FALLS, TEXAS — Marcus & Millichap has brokered the sale of Parker Square Shopping Center, a 94,532-square-foot retail center in Wichita Falls, about 115 miles northwest of Fort Worth. Crunch Fitness anchors the center, which was built in 1955 and was 97 percent leased at the time of sale. Chris Gainey and…
NEW YORK CITY — A partnership between A.M. Property Holding Corp., Axonic Capital and Platinum Properties is underway on the renovation of 11 Bryant Park Plaza, a 22-story office building in Midtown Manhattan. Designed by Spectorgroup, the renovation will involve the upgrading of existing office suites and the…
DAYTON, OHIO — Brennan Investment Group has purchased a 140,000-square-foot industrial facility in Dayton within the Springboro South submarket. The property sits minutes from the I-75 and Austin Landing interchange. Constructed in 2000 on approximately 12 acres, the modern precast facility includes 125 parking…
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $15.7 million sale of a multifamily development site in the Gowanus area of Brooklyn. The site is an assemblage of the parcels at 418 4th Ave., 416 4th Ave., 246 7th St. and 244A 7th St. and can support 57,640 buildable square…
In the thick of more than 15 lawsuits involving him and his companies, including a foreclosure over his most high-profile condo project at the moment, developer Michael Stern says that he’s pretty “unflappable.” Two years ago, the developer of Brooklyn Tower, the tallest building in the borough, gave up the…
🏆 Residential: The most expensive home sale to hit records in South Florida was in Boca Raton. A trust purchased the newly built home at 1642 Sabal Palm Drive for $21.5 million from John and Mary Hargrove, who purchased it for $6 million last year. The home, in the Royal Palm Yacht and Country Club, measures 9,400…
FAIRBURN, GA. — Vida Cos., an Atlanta-based multifamily, mixed-use and build-to-rent developer, has broken ground on Verona, a 280-unit community in Fairburn, approximately 20 miles southwest of Atlanta. Verona will… The post Vida Cos. Developing Verona in Metro Atlanta appeared first on Multifamily & Affordable…
HIALEAH, FLA. — Baron Property Group (BPG) has closed on a $226.5 million refinancing for Metro Parc, a 559-unit development in Hialeah that is now 50 percent leased. The financing… The post Baron Property Group Lands $226.5M Refinancing for Miami Project appeared first on Multifamily & Affordable Housing Business .
FRANKLIN, TENN. — Waterton, a Chicago-based real estate investor and operator, has acquired Wyndchase Aspen Grove in Franklin. The Nashville Business Journal reports the sales prices was approximately $128 million… The post Waterton Buys Metro Nashville Asset for $128M appeared first on Multifamily & Affordable…
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…
Bipartisan movement calls on state governor to act immediately
A bipedal artificial intelligence firm is evolving into a new Midtown South office, Commercial Observer has learned. Financial and operations analytics firm Sapien AI signed a lease for approximately 10,500 square feet on the entire fifth floor of the Kaufman Organization’s newly acquired 48 West 25th Street,…
Governor Tina Kotek stops land sale in Salem to Verrus
Image Rich Hill says predictable earnings and income-driven total returns are becoming more attractive again.
Image Pierzak also reviews valuation divergences, M&A trends, sector performance, and more.
Image CEO Stephen Budorick discusses the company's strong operating performance, recent credit rating upgrade, and how rising U.S. defense spending is creating long-term growth opportunities.
Image CEO John Kite says the REIT has spent the past two years reshaping its portfolio.
Image The REIT’s focus on U.S. Postal Service properties continues to offer a compelling combination of stability and growth, according to CEO Andrew Spodek.
Image CEO John Albright discusses why power centers are regaining favor, how CTO is targeting high-growth Sun Belt markets, and where he sees long-term value creation in today's retail real estate environment.
Image CEO Sam Landy discusses manufactured housing demand, policy momentum, and how REIT access to capital creates a lasting competitive advantage.
Image CEO Chris Constant says Getty Realty’s focus on high-quality locations, redevelopment potential, and strong tenant demand positions the company to capitalize on growth opportunities across convenience and automotive retail.
Image CEO Mark Decker says returns on capital are improving.
Image CEO Zach Vaughan says REIT is looking to concentrate assets in fewer geographies.
Image CFO Dave Bragg says apartments are more attractive than they have ever been relative to home ownership over the past 25 years or so.
Image CEO Michael Weil discusses how disciplined underwriting, investment-grade tenants, and long-term leases are positioning the REIT to capitalize on evolving market opportunities.
Image CEO Paul McDowell also pointed to greater stability across the portfolio following several years of asset sales.
Image CEO Darrell Crate says a growing preference for leased federal facilities and a robust courthouse and laboratory development pipeline position the company for sustained growth.
Image CEO Justin Knight says occupancy gains have been evident both mid-week and on weekends.
Image CEO Daniel Oberste discusses why migration, job growth, and affordability continue to support Sun Belt apartment fundamentals.
Image CEO Chris Marr says steady customer demand, easing new supply pressures, and digital advantages for larger operators are positioning the self-storage sector for continued growth.
Image CEO Dave Sedgwick says record occupancy, healthier operators, disciplined acquisitions, and powerful demographic trends are creating a favorable long-term outlook for skilled nursing and senior housing.
Image CEO Will Eglin discusses demand drivers, the advantages of Sun Belt logistics markets, and why development is once again creating value for industrial REITs.
Image CEO Rick Matros says REIT on target to meet external growth goals this year.
Image CEO Jeff Edison said the company is finding acquisition opportunities and relying on a flexible capital strategy to support continued expansion.
Image Chief Economist Dr. Jeremy Porter explains why REITs are placing greater emphasis on the financial impacts of physical climate risk and how AI is improving climate modeling.
Image CEO Bill Crooker says industrial fundamentals remain strong as tenants prioritize transportation access, power capacity, and automation.
Image Lynch says the best data centers have an ecosystem of clients which attracts additional clients.
Image CEO Jonathan Stanner anticipates additional asset sales and debt reduction.
Image CEO Michael Anderson says the REIT intends to move toward a 100% senior housing-focused portfolio.
Image CEO Brent Smith says location, amenities, and workplace experience are driving leasing demand as companies invest in long-term office strategies.
Image Michael Bilerman says Tanger’s combination of value, experience, and disciplined capital allocation positions the company for long-term growth.
Image Property Council of Australia CEO Mike Zorbas discusses the country's investment appeal, housing challenges, and how emerging technologies could reshape real estate markets.
Image Joey Agree says REIT is supported by $2.4 billion in liquidity.
Image CEO Chris Bilotto says REIT has strengthened position through asset sales, balance sheet work, capital markets activity.
Image Chief executive Simon Carter says office demand in London is running 50% above the long-term average.
Image Owen Thomas also says the debate around remote work has largely settled at this point.