Distressed Asset Buyer: To Buy Or Not To Buy Cover Story | November 1, 2023 TruAmerica Multifamily’s Bob Hart Launches Communities-Focused Podcast National + Apartments | November 30, 2023 Blackstone Closes Real Estate Secondaries Fund at $2.6B National + Global + Finance | November 30, 2023 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 The State of Office A five-part look at the asset class that goes beyond the negative headlines. Beneath the Headlines: Not All Office Product is Suffering Read How Owners/Landlords are Improving Occupancy Read The Reality of the "Doom Loop" Read Discussing Debt Maturities Read The Reality of Office "Give-Backs" Coming Dec. 2 Opportunities in the Current Environment Coming Dec. 9 Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.com3643-3647 Whittier Blvd/26 Project Based VouchersLos Angeles, CACalifornia & West + AffordableListing Status:AvailableListing Type:AuctionPrice:$1,600,000No. of Units:26APN:5188-008-032 / 5188-008-031Zoning Code:[Q]C2-1-CUGUOpportunity Zone:YesPrice per unit:$61,538Learn MoreThe Oxnard CollectionOxnard, CACalifornia & West + ApartmentsListing Status:AvailableListing Type:Highest & best offerPrice:$57,366,000No. of Units:201Cap Rate:4.62GRM/GIM:13.41Opportunity Zone:NoPrice per unit:$285,402Learn More1127-1129 Flatbush AvenueBrooklyn, NYNew York & Tri-State + Apartments + Mixed-UseListing Status:AvailableListing Type:Highest & best offerPrice:$11,500,000No. of Units:30Cap Rate:5.83GRM/GIM:12.99Building Size:24057 Sq ftLot Size:3749 AcresNo. of Stories:7Opportunity Zone:NoPrice per unit:$383,333Learn 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. Connect CRE & Industry Events Load MoreMore Events 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 SITE Spins Off S. Carolina Regional Shopping Center for $46M Atlanta & Southeast + Carolinas + Florida & Gulf Coast + Retail | November 29, 2023 Colliers | U.S. has arranged the sale of Wando Crossing, a 100% occupied, 214,029-square-foot regional shopping center for $46,750,000. This prominent retail destination is situated in the upscale Mount Pleasant area of Charleston, South Carolina. A Colliers team led by Brad Peterson represented the seller SITE Centers. The buyer was Ziff Real Estate Partners. Donald … Thorofare Arranges $25M Loan for NC Mixed-Use Project Atlanta & Southeast + Carolinas + Retail | November 29, 2023 Thorofare Capital arranged a $25,035,000 loan to Grubb Properties for the financing and lease-up of a two-building, 121,000 aggregate-square-foot, mixed-use project with an adjacent 306-space parking deck directly across the street from the University of North Carolina – Chapel Hill. Thorofare’s David Perlman originated the loan. “We are thrilled to have provided this strong sponsorship … Latest Boston & New England Stories Waltham Affordable Housing Complex Lands $18M Tax-Exempt Bond Boston & New England + | November 30, 2023 MassDevelopment issued a $17.82 million tax-exempt bond for 2Life Leland LLC, allowing Leland House’s construction in downtown Waltham. The site, formerly the Leland Home, transforms into a three-story, 68-unit affordable rental for seniors. Adhering to Passive House standards, it offers one and two-bedroom units with universal design elements for accessibility. “Now, as Massachusetts faces a … The Procopio Companies Promotes Shad Brook to COO Boston & New England + Boston + Finance | November 30, 2023 Shad Brook has been promoted to chief operating officer at The Procopio Companies, highlighting the firm’s dedication to growth in New England and the Southeast. With a background spanning defense manufacturing and construction executive roles at Raytheon Technologies and Suffolk Construction, Shad brings two decades of experience to his new position. Known for his … Connect TeamPaul BubnySenior Content DirectorKasi OrcuttDirector, Connect ClassroomDaniel CenicerosFounder & CEOView 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 VIDEO: No Letup in Demand for Retail Space California + Los Angeles + Retail | November 30, 2023 The general trend for retail leasing in late 2023 and going into 2024 is up. That’s the consensus of experts interviewed by Connect CRE at the recent Connect Retail West conference. “Demand for retail space, specifically on CREXi, is through the roof,” said Andrew Hotchkiss, regional director at CREXi. “We’re seeing a ton of tenants … Raymond James Renews, Expands Pasadena Offices California + Los Angeles + Office | November 30, 2023 Barker Pacific Group (BPG) has signed diversified financial firm Raymond James & Associates Inc. to a lease totaling 19,721 square feet at 301 N. Lake Ave. in Pasadena. Raymond James renewed its 8,873-square-foot lease and added a 10,848-square-foot lease. The expanded lease includes exterior signage to indicate the building as a Raymond James regional headquarters. Raymond James was represented by Jon Winnek of Cushman & Wakefield. Scott … Latest Chicago & Midwest Stories Chicago, Midwest | Weekly People & Companies for December 1, 2023 Chicago & Midwest + Office | November 30, 2023 Drugmaker AbbVie to Buy Cancer Biotech ImmunoGen for $10B Chicago & Midwest + Greater Chicagoland + Healthcare | November 30, 2023 North Chicago-based AbbVie, a major biopharmaceutical company, will buy ImmunoGen, a biotechnology firm, for $10.1 billion in cash, as the drugmaker announced the decision to acquire a maker of promising cancer therapies. Under the agreement, AbbVie will pay $31.26 per share in cash for Immunogen, a nearly 100 percent premium to the company’s recent trading price. … Latest Florida & Gulf Coast Stories SITE Spins Off S. Carolina Regional Shopping Center for $46M Atlanta & Southeast + Carolinas + Florida & Gulf Coast + Retail | November 29, 2023 Colliers | U.S. has arranged the sale of Wando Crossing, a 100% occupied, 214,029-square-foot regional shopping center for $46,750,000. This prominent retail destination is situated in the upscale Mount Pleasant area of Charleston, South Carolina. A Colliers team led by Brad Peterson represented the seller SITE Centers. The buyer was Ziff Real Estate Partners. Donald … Fort Lauderdale Tire Store to Make Way for Rental Highrise Florida & Gulf Coast + South Florida + Apartments | November 29, 2023 It’s now just a non-descript corner business. But in a few years, it could look like this. Bachow Ventures and Infinity Collective have teamed to acquire the Fort Lauderdale Goodyear tire shop and build something much grander. The joint venture paid $8 million for the property. Jeansusan Inc was the seller. The property is located … Latest Global Stories Blackstone Closes Real Estate Secondaries Fund at $2.6B National + Global + Finance | November 30, 2023 Blackstone said Thursday it had reached the final close on $2.6 billion for its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and its related committed program vehicles. The fund, which launched in April 2022, is the fourth largest real estate secondaries fund on record, according to PEI Group. Verdun Perry, global … Global Price Declines Continue but Decelerate National + Global + Finance | November 9, 2023 Global commercial property prices sustained their fall in the third quarter of 2023, as investment activity continued to contract across most commercial markets, MSCI Real Assets said Thursday. However, the pace of price declines has slowed significantly in recent months. The Global Cities Composite Index fell 4.5% from a year earlier in Q3. That represented … Latest Lenders Stories Latest National Stories TruAmerica Multifamily’s Bob Hart Launches Communities-Focused Podcast National + Apartments | November 30, 2023 “Every cycle is different… and this one is definitely going to be different than the ones that we’ve been through before.” That’s Bill Lindsay, founding partner & managing partner of PCCP and the leader of PCCP’s equity business, in conversation with Bob Hart, CEO, president and founder of TruAmerica Multifamily. In Lindsay’s case, he estimates … Report: Black Friday Saw Massive Increase in Retail Visits National + Weekender | November 30, 2023 With all of the holiday “special shopping days” around, there has been a narrative that Black Friday – the day after Thanksgiving – has declined in importance for retailers. However, according to Placer.ai data, this wasn’t the case during Black Friday of 2023. The metrics demonstrated that comparing the Black Fridays of 2022 and 2023, … Latest New York & Tri-State Stories NYCHA Closes $636M PACT Project to Renovate BK Developments New York & Tri-State + Outer + Finance | November 30, 2023 The New York City Housing Authority (NYCHA) closed a $635.6 million deal for Reid Apartments and Park Rock Consolidated, initiating significant renovations for 3,500 residents across 15 East Brooklyn developments. All of the buildings have now converted to Project-Based Section 8 through the federal Rental Assistance Demonstration (RAD) program, and capital funding will allow … Actors Federal Credit Union Expands Lease in Times Square New York & Tri-State + Midtown New York + Office | November 30, 2023 Actors Federal Credit Union has extended a 10-year lease at 1560 Broadway in Times Square. The credit union, existing in the building since 1991, will expand its space from 9,130 to 10,717 square feet on the fifth floor by early 2024. Built in 1925, the historic 17-story, 271,000-square-foot building underwent major redevelopment in 2014. Alan … Latest Phoenix & Southwest Stories Single Tenant Landed for Denver 220K SF Mass Timber Building Phoenix & Southwest + Southwest + Office | November 29, 2023 Xcel Energy-Colorado has pre-leased the entirety of office space at T3 RiNo, the new six-story, mass timber office building in Denver’s River North Arts District (RiNo). Ivanhoé Cambridge, Hines and McCaffery developed the 220,172 square-foot office structure at T3 RiNo. T3 RiNo features a refined industrial, heavy-timber-structured design that is 100% renewable, recyclable, and non-toxic. The … 194-Unit BTR Community to Open in NE Tucson Phoenix & Southwest + Arizona + Apartments | November 29, 2023 Sanders and Amos and MEB Management Services hope to start accepting move-ins during the Christmas holiday for Casitas Catalina in Tucson, a 194-unit built-to-rent community.Located at 9125 E Catalina Hwy in Tucson, Casitas Catalina is offering 1, 2, and 3-bedroom options. MEB’s Amity Dalton adds, “Those seeking a top-tier single-family lifestyle without a mortgage or … Latest Seattle & Northwest Stories Real Retail Names Deborah Ross Senior Vice President Seattle & Northwest + Seattle + Office | November 30, 2023 Seattle-based retail brokerage firm Real Retail has expanded its real estate brokerage team with the addition of a new team member. Recently appointed Senior Vice President Deborah Ross will draw upon twenty years of deep Puget Sound region knowledge and expertise in development, commercial real estate and retail to develop and execute market strategies for … Logistics Property Company Signs 846K SF Lease in WA Industrial Park Seattle & Northwest + Seattle + Industrial | November 30, 2023 Logistics Property Company, LLC, a logistics real estate developer, has executed two full building leases totaling 845,618 square feet at LPC’s Frederickson ONE Logistics Park. With the deals, the Class A industrial park in Washington’s Frederickson Industrial Corridor is now fully leased. Frederickson ONE is strategically located within 25 minutes of the Port of Tacoma … Latest Texas Stories Texas A&M Planing $200M Houston Space Institute Texas + Houston-Galveston + Office | November 29, 2023 Texas A&M officials are planning a new $200 million space institute that will work with NASA’s Johnson Space Center in Houston. Once built, it will be the first of its kind in the U.S. Along with support mission training, robotics and aeronautics work, the new facility will replicate both the Mars and lunar surfaces, allowing better training and … Georgetown Mixed-Use Project Kicks Off Construction Texas + Austin + Office | November 29, 2023 Westinghouse Crossing, a 35-acre mixed-use development in Georgetown, is set to break ground in January. St. John Properties is heading up the project. The development, which was previously expected to break ground this fall, will be located near the intersection of Westinghouse Road and North Mays Street and include 225,000 square feet of space. 170,000 … Latest Washington DC Stories Greystar, Partners Break Ground on Bethesda Apartments Washington DC + Maryland + Apartments | November 30, 2023 Greystar Real Estate Partners, LLC and Partners Group have initiated the construction of a new apartment building at 7340 Wisconsin Avenue in Bethesda, MD, revitalizing a neglected site. Designed by SK&I Architecture and JGNA, the community will offer 301 residences, including 46 Moderately Priced Dwelling Units (MPDUs), featuring studios to three-bedroom layouts with penthouse … Club Champion Opens in Fredericksburg Washington DC + DC Metro + Retail | November 30, 2023 Club Champion, a custom golf club fittings, has opened its newest store at Central Park Plaza in Fredericksburg, VA, marking its sixth location in the state. The approximately 3,000-square-foot Fredericksburg studio will utilize technology such as TrackMan and SAM PuttLab, catering to golfers of all skill levels with comprehensive, Tour-level fittings and exceptional club … Latest Stories FromWeekly People and Company News Latest News | December 1, 2023Steward Partners Buys $3.2B Virginia RIAFinancial Advisory | November 30, 2023Steward Partners Global Advisory, a hybrid registered investment advisor, has acquired Freedom Street Partners, a $3.2 billion financial services firm with 38 independent advisors. Specific financial terms of the deal, which is expected to close by the end of the year, were not disclosed. Chesapeake, VA-based Freedom Street Partners advisors will join Steward Partners as ...Illinois Municipal Retirement Adds $440M to Real Assets, PE PortfoliosAlternative Assets | November 30, 2023The Illinois Municipal Retirement Fund (IMRF), which manages nearly $49 billion in assets, added $440 million to its real assets and private equity program, according to its latest filings. In real assets, the retirement fund committed $150 million to the Barings Real Estate Debt Income Fund. In April, the real estate investment firm closed its ...ExchangeRight’s Essential Income REIT Now Tracked by Blue VaultAlternative Assets | November 30, 2023ExchangeRight, a provider of diversified real estate DST and REIT investments, announced the company’s Essential Income REIT is now being tracked and reported on Blue Vault, an alternative assets research platform for financial advisors. Blue Vault’s quarterly reporting will give advisors access to performance insights about the Essential Income REIT on an ongoing basis and ...
