Array Yelp Shuttering Offices in NYC, Chicago and DC in Move to Remote Work National + Office | June 26, 2022 Commercial Real Estate Pricing Posts 18.6% Year-Over-Year Gains National + Finance | June 23, 2022 Starwood Capital Looks to Offload $1B of Single-Family Rentals National + Apartments | June 26, 2022 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 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 ECI Group Sells 410-Unit Multifamily in Chamblee for $87M Atlanta & Southeast + Atlanta Metro + Apartments | June 24, 2022 Atlanta, GA-based ECI Group has sold Chatsworth Apartments in the Central Perimeter area in Chamblee, GA for $87 million. Kevin Geiger at CBRE represented ECI Group in the transaction. The 410-unit, 1980-vintage community was acquired by ECI in 2018 and underwent an extensive common area renovation over the last four years. ECI also renovated building … Knighthead Provides $38M Refi to 204-Room Marriott Hotel in Nashville Atlanta & Southeast + Southeast + Finance | June 24, 2022 Knighthead Funding, LLC, has provided a $37.6-million first mortgage loan to refinance the 204-key Marriott TownePlace Suites hotel in downtown Nashville, TN. The five-year, non-recourse loan refinances the in-place construction loan. Peter Illuzi of Knighthead originated the loan. “The underlying fundamentals of the Nashville market continue to show impressive strength, with the growing numbers of … Latest Boston & New England Stories Legacy Automotive Acquires $26M Sale-Leaseback Dealerships in Auburn, Greenfield Boston & New England + Metro Boston + Retail | June 24, 2022 CBRE has completed the $26.2-million sale-leaseback of auto dealerships in Auburn and Greenfield, MA on behalf of seller Lundgren Honda and Lundgren Equity Partners. Legacy Automotive Capital acquired the properties at 163 Washington Street in Auburn and 409 Federal Street in Greenfield. Karly Iacono of CBRE represented the seller and procured the buyer, which exclusively … Lloyd Jones Buys Senior-Living Community on Historic Registry in West Hartford Boston & New England + New England + Senior Housing | June 24, 2022 Miami, FL-based Lloyd Jones has acquired Hamilton Heights, a 113-unit, senior living community in West Hartford, CT. The property will operate under Lloyd Jones’ proprietary Aviva brand as AVIVA West Hartford. Formerly known as Mount St. Joseph Academy, a Roman Catholic boarding school for girls, the property was adapted into an independent living, assisted living, … Connect TeamMichael ThwaiteChief Technology OfficerDaniel CenicerosCEOJennifer LloydCreative DirectorView 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 Connect LA: Company Leaders Dealing with Market Choppiness California + Los Angeles + Office | June 24, 2022 A panel of Commercial Real Estate leaders talked at length about the industry’s new reality at ConnectCRE’s Connect Los Angeles event, and the takeaway is “patience”. Cushman Wakefield’s Executive Vice Chairman Marc Renard was the moderator for the discussion that also featured Jamison Realty CEO Jaime Lee, Jon Lange, Senior VP in LA for Boston … Pasadena Tiffany and Shops Changes Hands for $52M California + Los Angeles + Retail | June 24, 2022 CBRE has arranged the sale of a street front retail property anchored by Tiffany & Co., Crate & Barrel and House of Hoops in Pasadena, CA. The Colorado Boulevard project was sold to Blatteis and Schnur and the Felson Companies for $52.25 million, or approximately $1,838 per-square-foot, which CBRE says is a record for Pasadena. … Latest Chicago & Midwest Stories ShopCore Properties Appoints Veteran CRE Executive Marc Ricks as CEO Chicago & Midwest + Downtown + Retail | June 26, 2022 ShopCore Properties has appointed Marc Ricks as CEO. Ricks joins ShopCore with decades of experience leading projects and teams in the real estate, infrastructure and technology spaces across the private and public sectors, ShopCore said in a statement. Chicago-based ShopCore, a Blackstone portfolio company, is a vertically integrated real estate company with internalized leasing, development, … Edgewater Apartments Go Under Contract in 14 Days Chicago & Midwest + North Side + Apartments | June 26, 2022 Essex Realty Group recently facilitated the sale of 1401 W. Highland Ave., a 12-unit apartment building located on the corner of Highland Avenue and Glenwood Avenue in Chicago’s Edgewater neighborhood. The seller, a local investor, hired the Essex team of Rick Ofman, Jaimie Steinher, Dan Shepherd, Doug Imber and Kate Varde to market the property … Latest Florida & Gulf Coast Stories American Commercial Drops $51M for Three Communities a Skip from UF Florida & Gulf Coast + North Florida + Apartments | June 24, 2022 JLL has closed $51.3 million in acquisition financing for a three-property multi-housing portfolio in Gainesville, FL. Elliott Throne and Kenny Cutler of JLL represented the borrower, American Commercial Realty Corp., to secure the three-year loan through Trez Capital, a Canadian non-bank commercial real estate lender. The portfolio consists of the 146-unit Cazabella Apartments, the 128-unit … Finsight Group Jumps from Short-Term Sublease to 3,122 SF in Miami Florida & Gulf Coast + South Florida + Office | June 24, 2022 CBRE has arranged a 3,122-square-foot office lease at 800 NW 62nd Avenue in Miami, FL on behalf of Finsight Group, Inc. The New York-based financial services firm houses approximately 10 employees in a space on the 4th floor. Scott Goldstein and Keith Edelman with CBRE represented Finsight Group, Inc., in the lease negotiations. The landlord … Latest Global Stories Global Economic Report: Optimism Amid the Headwinds National + Global + Weekender | May 27, 2022 Major events have marked 2022 so far, ranging from the geopolitical (the Russia-Ukraine war), to the economic (inflation). Topping it all off are continued logistics bottlenecks caused, in part, by COVID-19 lockdowns in China. Despite this, global economic reports issued by CBRE and JLL haven’t predicted gloom and doom. Both reports note that, while headwinds … Blockchain Concern Intelly Gearing Up to Launch Property Investment Platform Global + Finance | May 25, 2022 Intelly, a future-oriented company that combines property investment and blockchain technology, is gearing up to launch its real-estate investment platform in July, company officials said this week. Once it comes online, the platform will allow investors to participate in lucrative real-estate projects – both commercial and residential – worldwide. “By combining our years of experience … Latest National Stories Starwood Capital Looks to Offload $1B of Single-Family Rentals National + Apartments | June 26, 2022 Starwood Capital Group is exploring the sale of two portfolios of single-family rental homes, seeking to unload roughly 3,000 properties as the U.S. housing market cools, Bloomberg News reported Friday. Starwood, led by Barry Sternlicht, is working with advisers on the potential sales, each of which is expected to fetch around $500 million, said Bloomberg. Many of … Yelp Shuttering Offices in NYC, Chicago and DC in Move to Remote Work National + Office | June 26, 2022 Online review company Yelp will shutter its “most consistently underutilized” offices in New York, Chicago and Washington, DC and downsize its Phoenix office effective July 29, CEO Jeremy Stoppelman said in a blog posting. The San Francisco-based company leases nearly 350,000 square feet among 11 Madison Ave. In New York, the MART in Chicago and … Latest New York & Tri-State Stories Bromley Tops Out on Microsoft’s Future NYC Headquarters New York & Tri-State + Downtown New York + Office | June 26, 2022 Bromley Companies recently topped out on 122 Fifth Ave., an 11-story mixed-use project in Manhattan’s Union Square neighborhood. Scheduled to be complete by 2023, the adaptive reuse project will be home to the New York headquarters of Microsoft and other tenants to be announced. “With a brand-new rooftop pavilion and more than 300,000 square feet … 1501 Broadway’s Prebuilts Reach Full Lease-Up New York & Tri-State + Midtown New York + Office | June 26, 2022 Newmark arranged more than 23,000 square feet of leasing transactions representing the entirety of the first phase of the newly constructed prebuilt program at 1501 Broadway, known as The Paramount Building. Executive managing director Matthew Leon, senior managing director Stephen Gordon and associate director Nathan Kropp are the property’s leasing advisors. Levin Management Corporation and … Latest Phoenix & Southwest Stories Tucson Multifamily Asset Sells for $28 Million Phoenix & Southwest + Arizona + Apartments | June 24, 2022 Next to Davis/Monthan Air Force Base and Tucson International Airport, the Palomino Crossing is near employers with over 10,000 workers. The 240-unit apartment complex sold for $116,000 a unit. It’s 97% occupied. AndMark Management out of Los Angeles was the seller and Next Round Asset Management was the buyer. Northmarq represented the seller and also … Lincoln Property Group to Develop Million Square Foot Industrial Park in Tucson Phoenix & Southwest + Arizona + Industrial | June 24, 2022 LPC Desert West, a division of Dallas-based Lincoln Property, is building a four-warehouse project on 77 acres in Tucson. I-10 International will also have cold-storage capabilities and will include touchless technologies for the ease and safety of the employees. The million square foot site, which sits in a Foreign Trade Zone, will be located at … Latest Seattle & Northwest Stories Portland Multifamily Secures $51M Construction Financing Seattle & Northwest + Portland + Apartments | June 24, 2022 PCCP, LLC has provided Pahlisch Commercial a $51 million senior loan for the ground-up construction of Henley Place, a 178-unit multifamily community in Milwaukie, OR. Completion of the asset is expected in early 2024. “Pahlisch Commercial is an experienced Pacific Northwest real estate development company,” said PCCP’s Senior VP Matthew Cochran. “We are pleased to … Crescit Originates Bridge Loan for Tacoma Retail Property Seattle & Northwest + Seattle + Finance | June 24, 2022 Crescit Capital Strategies has successfully closed a $7 million fixed-rate bridge loan for the refinancing of a 35,000-square-foot retail property in Tacoma, WA. The asset has a diverse set of 15 retailers and is centrally located in Tacoma, about 30 miles southwest of Seattle. “Crescit is pleased to partner with an owner and a repeat … Latest Texas Stories Allegheny Technologies Inc Ditching Pennsylvania for Dallas Texas + Dallas-Fort Worth + Office | June 25, 2022 The company, who is changing its name to ATI, is moving its corporate headquarters to Downtown Dallas. It’s the second major industrial enterprise to recently announce it’s leaving its rustbelt state and moving to Texas. Caterpillar made its announcement last week to leave Illinois for Dallas, as well. ATI has leased 15,000 square feet of … 576-Unit Multifamily Highrise Going Up in Houston’s Ten Oaks Texas + Houston-Galveston + Apartments | June 24, 2022 The development will consist of three 12-story buildings. Resia Ten Oaks will be situated in the last remaining parcel at Ten Oaks, an 83-acre master planned development in West Houston. The three structures will be positioned on a 6.6 acre site. They’ll offer one, two and three-bedroom units that will feature open concept kitchens with … Latest Washington DC Stories Catalyst Healthcare, Bain Capital Break Ground on 60K-SF MOB in Laurel Washington DC + DC Metro + Office | June 24, 2022 Catalyst Healthcare Real Estate and Bain Capital Real Estate have begun a 60,000-square-foot multi-tenant medical office building in Laurel, MD. The property is connected to the University of Maryland Capital Region Health Hospital by an enclosed skyway. The University of Maryland Medical System purchased Laurel Regional Hospital and its 42-acre campus from Prince George’s County … Crow Holdings Client Disposes of Trio of Retail Strip Centers in Fairfax Washington DC + DC Metro + Retail | June 24, 2022 Cushman & Wakefield has arranged the sale of a three-center retail portfolio located in Fairfax, VA less than 20-miles west of downtown Washington, DC. John Owendoff of Cushman & Wakefield’s represented the seller, a real estate fund advised by Crow Holdings Capital, in the transaction. “Retail fundamentals remain historically strong, and we continue to experience …
