Array Study: Despite In-Office Mandates, Employees Continue Pushing Back National + Weekender | June 3, 2023 MBA: CRE Loan Delinquencies Rise for All Major Lender Groups National + Finance | June 1, 2023 Affordability Gap Favors Renting as Apartment Absorption Rebounds National + Apartments | June 2, 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 CRE debt maturities: How much trouble are we really in? A 4-part deep dive into debt maturities and their impact on CRE Anticipating the Debt Maturity Onslaught Read Article Debt Maturity: What's Actually in Trouble? Read Article Solutions to Debt Maturities: What Are They? Read Article CRE Debt Maturities and Investor Preparation Read Article 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 Swinerton Leads Charlotte Restaurant Construction with $10M in Projects Atlanta & Southeast + Carolinas + Hospitality | June 2, 2023 Swinerton, the most active restaurant builder in Charlotte, has nearly $10 million of restaurant builds currently underway in the region. Among the most high-profile projects are North Carolina’s first STK and Chapter 6 in Charlotte, and Emmy Squared in Durham. Swinerton’s $3.3 billion restaurant portfolio spans the Hawaiian Islands to the eastern seaboard. “Restaurants are … Phase 2 Soon Underway at The Works on Atlanta’s Westside Atlanta & Southeast + Atlanta + Retail | June 2, 2023 Selig Development is preparing for phase two of The Works on Atlanta’s Westside. The 80-acre mixed-use development is the largest redevelopment in the city. Selig has invested $400 million in the project on land it has owned for 75 years. It is restoring and repurposing several industrial buildings into more than 2 million square feet … Latest Boston & New England Stories Fidelity Donates Property for Bryant U. Campus Expansion Boston & New England + New England + Student Housing | June 2, 2023 Bryant University is planning a campus expansion thanks to a real estate donation from Fidelity Investments. The donation of 100 Salem Street marks the most substantial real estate gift to Bryant since its founding in 1967. The expansion will include a facility housing the College of Business, Graduate Programs, Executive Education, and the Women’s Leadership … Western Boston Lifestyle Center Secures $190M in Financing Boston & New England + Metro Boston + Retail | June 2, 2023 Legacy Place has secured a $190 million first mortgage refinancing for a 675,000-square-foot retail center in Dedham, Massachusetts. Wells Fargo and Truist led the financing as part of a two-bank syndicate. Legacy Place, developed by WS Development and Nuveen Real Estate, is a lifestyle center anchored by brands such as Whole Foods, Apple, L.L. … Connect TeamEmily LettieriVice PresidentJosh OrensteinVice President, News & MediaDennis KaiserVice President, Public Relations & CommunicationsView 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 Food Ingredients Maker Relocates Warehouse to New Facility in Gardena California + Los Angeles + Industrial | June 2, 2023 Puratos U.S., a leading bakery and sweet goods ingredient company, is expanding its West Coast operations with two key investments in the Los Angeles region. They include the installation of a new manufacturing line at its Rancho Dominguez facility and planned relocation to a warehouse/distribution facility located five miles away in Gardena. To optimize its … Wilshire Capital Divests Vacant Irvine Offices California + Orange County + Office | June 2, 2023 CBRE arranged the sale of 17900 Von Karman, a 70,964-square-foot Class A office building in Irvine. Wilshire Capital Partners sold the property to an owner-user that intends to occupy it shortly after renovations. Terms of the sale weren’t disclosed. Anthony DeLorenzo, Gary Stache, Bryan Johnson, David Dowd and Jennifer Whittington of CBRE represented Wilshire. “The … Latest Chicago & Midwest Stories Golub Capital Lists Wacker Drive Offices for Sublease Chicago & Midwest + Downtown + Office | June 2, 2023 Golub Capital recently began marketing all of approximately 75,000 square feet that it occupies across five floors at 150 S. Wacker Dr. for sublease, reported Crain’s Chicago Business. However, the company, a tenant at 150 S. Wacker since 2006, plans to retain two floors for itself. If Golub can find a taker for the space, … SRS $3M Sale of Wendy’s Brings More Burgers to Belmont Central Chicago & Midwest + North Side + Net Lease | June 2, 2023 SRS Real Estate Partners’ National Net Lease Group (NNLG) completed the $3.035-million sale of a single-tenant retail property occupied by Wendy’s. Built in 1983 and renovated in 2022, the 4,031-square-foot property is on 0.63 acres, located at 2811 N. Narragansett Ave. in Chicago. The property is next to The Brickyard, a 549,000-square-foot center, and Bricktown … Latest Florida & Gulf Coast Stories Related Group’s Casa Bella Sets Record with Penthouse Contract Florida & Gulf Coast + South Florida + Apartments | June 2, 2023 Related Group and Alta Developers announced Casa Bella Residences by B&B Italia has achieved nearly $50 million in signed contracts over the past 60 days. This includes a contract for a 54th-floor, 5,893-square-foot triplex penthouse for $12.6 million. At $2,138 per square foot, it’s the most expensive price-per-square-foot sale in Miami’s Arts and Cultural District. … Orange Pineapple Buys 3.1 Acres in Downtown Sarasota for $32M Florida & Gulf Coast + South Florida + Apartments | June 2, 2023 Orange Pineapple LLC has purchased seven parcels on more than 3 acres in downtown Sarasota for $32 million. Steven Horn, CCIM, and Jag Grewal, CCIM, SIOR, represented the sellers, Capstone Group Holdings LLC, and Ringling and Orange 3 LLC, in the transaction. “The property allows for condos, apartments, hotel, retail,” Horn said. “This and the … Latest Global Stories CREW Launches New Survey Focused on CRE Women’s Global Market Perspectives National + Global + Finance | April 13, 2023 Just 23% of women in the industry are optimistic about the direction of the global economy in the first quarter of 2023, with a slightly larger percentage expressing pessimism. That’s among the highlights of the first installment in a new series from CREW Network. Drawing on responses from more than 1,100 commercial real estate … Blackstone Closes Global Real Estate Fund at $30.4B National + Global + Finance | April 11, 2023 Blackstone said Tuesday it had closed its latest global real estate fund, Blackstone Real Estate Partners X (BREP X), at $30.4 billion. Reportedly it’s the largest real estate or private equity drawdown fund ever raised. In total, Blackstone’s three opportunistic strategies (Global, Asia, Europe) now have $50 billion of capital commitments. Anticipating changing macrotrends, Blackstone … Latest Lenders Stories Latest National Stories Study: Despite In-Office Mandates, Employees Continue Pushing Back National + Weekender | June 3, 2023 During the pandemic-driven shut-down, most white-collar employees participated in work-from-home arrangements. These days, employees are hybrid workers, spending part of their time in the corporate office, and the rest in their in-home offices. But “Returning for Good,” a report issued by Unispace, indicates that firms are beefing up their in-office mandates. In a survey involving … Affordability Gap Favors Renting as Apartment Absorption Rebounds National + Apartments | June 2, 2023 As of 2023’s first quarter, the average multifamily rental unit is $699 less than the total median monthly home payment, Newmark said in its Q1 United States Multifamily Capital Markets Report. “Renting has become significantly more economical than owning a home, driven by the growth in debt costs,” the report stated. That’s expected to continue … Latest New York & Tri-State Stories Lakewood Class-A Office Development Lands $35M in Construction Financing New York & Tri-State + New Jersey + Office | June 2, 2023 Newlines Tower, a class-A office development in Lakewood, NJ, has secured $35 million in ground-up construction financing. Located at 500 Boulevard of the Americas, the development project will encompass an eight-and-a-half-acre site and feature a six-story office tower spanning approximately 172,000 square feet. The completion of construction is expected by the third quarter of 2024. … Hoboken Connect Launches Leasing New York & Tri-State + New Jersey + Office | June 2, 2023 Hoboken Connect, a 21-story office building in New Jersey, has announced the launch of leasing. The mixed-use development is part of a larger plan to transform NJ TRANSIT’s Hoboken Terminal into a campus-like environment along the Hoboken waterfront. The 704,355-rentable square foot Class-A office building will offer floorplates ranging from 30,000 to 40,000 square … Latest Phoenix & Southwest Stories Las Vegas Developer Building $80M Denver Flex-Industrial Park Phoenix & Southwest + Southwest + Industrial | June 2, 2023 LaPour Partners projects investing $80 million on construction and plans to start work in late summer on the three-building, 359,800-square-foot project on 29 acres east of Wadsworth Parkway in Broomfield. The Denver Business Journal reports The development, known as Arista 36, is hoping to attract biomedical, technology, research and development, lite manufacturing and warehousing tenants. … Arizona Boardwalk Picks 48 Acres In Scottsdale Entertainment Center Phoenix & Southwest + Phoenix + Texas + Hospitality | June 2, 2023 No word yet on what the developers of Scottsdales’s Arizona Boardwalk want to do with their recent 48-acre land acquisition, but the Phoenix Business Journal reports it will most likely be innovative and fun. Home to several family-friendly experience and entertainment retail concepts in Scottsdale, Arizona Boardwalk is looking to bolster its footprint with the … Latest Seattle & Northwest Stories “Little Tuscany” Multifamily Asset Acquired by Timberlane Partners in Olympia for $37M Seattle & Northwest + Seattle + Apartments | June 2, 2023 Timberlane Partners, a leading Seattle real estate investment manager, purchased the 143-unit three-story multifamily building known as Little Tuscany from Fern Street Partners LLC dba Commercial Property Services Inc. Situated in Olympia’s South Westside neighborhood, the building occupies a 5.8-acre plot, including studios, multi-bedroom and townhome-style apartments. The $37-million purchase represents a significant discount to … Veda Living Triples Senior Housing Portfolio with Washington State Management Deal Seattle & Northwest + Seattle + Senior Housing | June 2, 2023 Veda Living, the management company spin-off of ETROS Management Firm, acquired a 10-property management agreement in Washington state. Dallas-based Veda has acquired the management deal for all Greenlake Senior Living properties in the Seattle and Tri-Cities areas. Terms of the deal weren’t disclosed. Greenlake is known for its affordable senior living options, targeting the middle … Latest Texas Stories International Group to Build 1.6 Million SF Seguin Industrial Park Texas + State of Texas + Industrial | June 2, 2023 Partners Real Estate arranged the sale of 119.3 acres of land located along Interstate 10 in Seguin, Texas. Partners’ John Colglazier and Kyle Kennan represented the buyer, Baltisse-Ackerman Seguin, LLLP, in the transaction. David Orr with Rockspring represented the seller. The buyer is planning to build up to 1.6 million square feet of industrial space … 650 Apartments Coming to Austin’s South Side Texas + Austin + Apartments | June 2, 2023 About 650 apartments are coming to Austin’s outskirts, near Austin-Bergstrom International Airport. The units will be constructed on two lots totaling about 25 acres. The Austin Business Journal reports the two projects are being developed by an affiliate that can be traced back to The NRP Group, a national developer of affordable housing and one … Latest Washington DC Stories JLL to Manage Construction of Richmond Innovation Center Washington DC + DC Metro + Industrial | June 2, 2023 JLL has announced that its project and development services (PDS) team has secured the contract to oversee the design and construction of Activation Capital’s Innovation Center, Richmond’s newest biotech space. Activation Capital, a public enterprise of the Commonwealth of Virginia focused on fostering life sciences and advanced technology innovations, is leading the development. The … Hospitality Living Property Comes to Dupont Circle Washington DC + DC + Hospitality | June 2, 2023 Placemakr has announced the launch of Placemakr Dupont Circle, a historic mansion in Washington, D.C., transformed into a hospitality living property. The concept combines home and hospitality experiences. They also unveiled an extended-stay pop-up location, WhyHotel by Placemakr, in the Navy Yard area of D.C. Situated on Dupont Circle, the project features 92 units … Latest Stories FromIllinois Pension Fund Approves $315M to Private Markets Alternative Assets | June 2, 2023The Illinois Municipal Retirement Fund (IMRF) added another $315 million to its private markets’ portfolio at a recent board of trustees meeting. Officials at the $49.9 billion state pension approved $205 million to private equity and $110 million to real assets. The moves follow an approved investment policy in February that decreased the maximum commitment ...Tech-Focused Integrum Seals Oversubscribed $1.1B Debut Fund Alternative Assets | June 2, 2023Integrum, a NYC-based tech-focused investment firm, has raised a $1.1 billion final close for its inaugural fund, Integrum Capital Partners LP, exceeding its original target. The firm noted that capital did not include related co-investment vehicles for the fund. Fund backers include the New York State Common Retirement Fund, which committed $20 million as part of ...Morgan Stanley PE Secondaries, Clairvest Invest in Top Aces Alternative Assets | June 2, 2023Morgan Stanley Private Equity Secondaries and Clairvest Group have made a growth equity investment in Top Aces, a Dorval, Quebec-based provider of advanced airborne training. The investment was made in conjunction with Top Aces’ other shareholders, including global investment group Caisse de Dépôt et Placement du Québec (CDPQ). Top Aces provides adversary air (ADAIR) and ...Measurabl Lands $93M for Real Estate ESG Platform Alternative Assets | June 2, 2023Measurabl, a San Diego, CA-based environmental, social and governance (ESG) technology platform for real estate, raised $93 million in an oversubscribed Series D financing round, bringing its total raise to more than $170 million. The round was co-led by Energy Impact Partners and Sway Ventures, with participation from Moderne Ventures, WVV, Suffolk Construction, Broadscale, Camber ...
