Array KKR Reportedly Sells Student Housing Portfolio for $725M National + Student Housing | June 27, 2022 Starwood Capital Looks to Offload $1B of Single-Family Rentals National + Apartments | June 26, 2022 CREFC Issues Report on ESG in Commercial Real Estate National + Finance | June 28, 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 Novare Completes $150M Cap Raise, Launches Project in Powder Springs Atlanta & Southeast + Atlanta Metro + Apartments | June 28, 2022 Atlanta, GA-based Novare Group, with co-sponsors BCDC and PointOne Holdings, has broken ground on a town center multifamily residential project in Powder Springs, GA. It is the first phase of a development on 6.6 acres in the community’s downtown for Novare Group, which recently completed its $150-million residential development capital raise. Synovus Bank is the … Aurubis Breaks Ground on $320M Multimetal Recycling Plant in Augusta Atlanta & Southeast + Southeast + Industrial | June 28, 2022 Germany-based Aurubis AG has started an approximately $320-million multimetal recycling plant in Augusta, GA. The facility represents one of the biggest international investments in the state of GA and will be the US’ first large secondary smelter for multimetal recycling. Colliers worked with Aurubis AG to locate a site for the facility. The facility will … Latest Boston & New England Stories Multifam Drawn from Graphic Arts Finishers Building in Charleston Sells for $96M Boston & New England + Metro Boston + Apartments | June 28, 2022 CBRE has arranged the $96.3-million sale of The Graphic Lofts, a 171-unit loft style apartment community located at 32 Cambridge Street in Charlestown, MA. Simon Butler, Biria St. John and John McLaughlin represented the seller, an affiliate of Boston, MA-based Berkeley Investments and procured the buyer, an affiliate of EverWest Real Estate Investors. The 2019-constructed … Quantum Brokers $8M Sale of Single-Tenant Walgreens in Lakeville Boston & New England + Metro Boston + Retail | June 28, 2022 Quantum Real Estate Advisors, Inc., has brokered the $8.3-million sale of a 14,820-square-foot single-tenant Walgreens in Lakeville, MA. There were roughly 10 years remaining on the original 25-year Walgreens lease at the time of sale. Daniel Waszak of Quantum Real Estate Advisors, Inc., represented the buyer in the transaction, a private 1031-exchange investor that is … Connect TeamPaul BubnySenior Content DirectorDennis KaiserVice President, Public Relations & CommunicationsMichael ThwaiteChief Technology OfficerView 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 SoCal CRE Power Players Discuss Goals at Connect LA California + Los Angeles + Office | June 28, 2022 The Connect LA event at the Indigo Hotel produced some thought-provoking discussion, not the least of which was a panel of CRE “Power Players” that wrapped up the afternoon. David Waite, partner at the Cox, Castle & Nicholson law firm moderated the conversation, that also featured Chris Cooper, Principal Managing Director at Avison Young, Clare … Great America Sells Land for $310M; Will Close Within 11 Years California + Bay Area + Hospitality | June 28, 2022 Cedar Fair, L.P., the owner of California’s Great America amusement park, has sold its Santa Clara site to logistics real estate-specialist Prologis for $310 million. Great America will continue to operate for up to 11 years, and then will shut down at the end of the lease term. Cedar Fair intends to use proceeds from … Latest Chicago & Midwest Stories Facilities Services Powerhouse Watterson Acquires Bassett Creek Services Chicago & Midwest + Greater Chicagoland + Industrial | June 28, 2022 Watterson, a leading national commercial real estate facility services company and a portfolio company of Highview Capital, today has acquired Bassett Creek Services, Inc. (BCS), a national leader in restoration and renovation services. Headquartered in Algonquin, IL, Bassett Creek provides mission-critical restoration, renovation and specialty services to a diverse group of commercial and residential clients. … Colliers Brokers Kinzie Corridor Sale to Hindman Auction House Chicago & Midwest + Downtown + Industrial | June 28, 2022 Colliers’ Mike Senner, Alex Kritt and Tom Volini represented a private investor in the sale of a 61,000-square-foot, two-story warehouse at 222 N. Maplewood Ave. in Chicago to Hindman, the internationally recognized fine art auction house. The concrete and brick building is located in the Kinzie Corridor on Chicago’s Near West Side and can accommodate … Latest Florida & Gulf Coast Stories $65M Jacksonville Multifamily Wraps Up JV Equity, Construction Debt Deals Florida & Gulf Coast + North Florida + Finance | June 28, 2022 Northmarq has supplied $19.5 million in joint venture equity and $45 million in construction debt on behalf of Republic Properties Corporation for Collins Preserve, a $65 million, 330-unit multifamily development in Jacksonville, FL. The construction loan was structured with a five-year term including four years of interest only followed by a 30-year amortization schedule. Northmarq … AARE Sunbelt, Stellar to Start Environmentally Respectful Multifam in Dania Beach Florida & Gulf Coast + South Florida + Apartments | June 28, 2022 AARE Sunbelt, an affiliate of Adam America Real Estate, and Stellar Communities have acquired 7.2 acres on 54 Court in Dania Beach, FL for a six-story, 275-unit multifamily development. The CFE Architects-designed development will have lush greenery and water features along with a nature preserve with trails, parks, resort style pool, fitness center, club room, … 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 CREFC Issues Report on ESG in Commercial Real Estate National + Finance | June 28, 2022 The CRE Finance Council (CREFC), the industry association that represents the $5.1 trillion commercial real estate finance industry, has released new data from its 2022 ESG Survey, gauging its members’ sentiment on Environmental, Social and Governance (ESG) issues in commercial real estate finance. The survey reveals that regulatory considerations and investor demand for transparency are … KKR Reportedly Sells Student Housing Portfolio for $725M National + Student Housing | June 27, 2022 KKR & Co. has sold seven U.S. student housing properties to Harrison Street, Bloomberg News reported Monday. The price for the portfolio, with 4,500 beds, was $725 million, reported Bloomberg, citing people with knowledge of the deal. Compared with apartments, student housing currently offers higher returns as measured by cap rates, according to MSCI … Latest New York & Tri-State Stories Obligo, Wells Fargo Partner on Security Deposit Alternative New York & Tri-State + Downtown New York + Finance | June 28, 2022 Lower Manhattan-based fintech company Obligo has unveiled a model, supported by Wells Fargo, that further enhances its product offering. Obligo is reportedly now the only security deposit alternative utilizing bank-issued letters of credit to provide apartment landlords and tenants with security, flexibility and ease of transaction. Landlords and property managers using Obligo’s service can now … Resolution RE’s Lieberman Arranges Two Garment District Leases New York & Tri-State + Midtown New York + Office | June 28, 2022 Resolution Real Estate Partners’ Evan Lieberman recently secured a pair of leases for fashion-focused businesses on Seventh Avenue. His two newest leases comprise Now Trending, LLC and Apparel Solutions Inc. Now Trending, a manufacturer and wholesaler of moderately priced womenswear, has signed a five-year, 2,950-square-foot lease 526 Seventh Avenue. The sublessor, SMC 526 Seventh LLC, … Latest Phoenix & Southwest Stories Hines to Transform SLC High-Rise Office Into Multifamily Phoenix & Southwest + Southwest + Apartments | June 28, 2022 Due to the effects of the pandemic on office use, the new owner of the 24-story South Temple Tower Salt Lake City office building is embarking on a conversion to luxury multifamily units. Hines intends to start the transformation early in 2023. When completed it will have 255 apartment rentals. Newmark’s Kevin Shannon helped arrange … Denver Suburb Site for New 200 Acre Mixed-Use Community Phoenix & Southwest + Southwest + Retail | June 28, 2022 At full buildout, Ledge Rock Center will include over 1 million square feet of retail and 1,200 apartments. Carson Development is taking the lead on the project, which will be located in Johnstown. The company has already built nearby Johnstown Plaza, home to a 250,000 square foot Scheels superstore. Ledge Rock Center is located about … Latest Seattle & Northwest Stories Life Sciences Development Breaks Ground in Downtown Seattle Seattle & Northwest + Seattle + Healthcare | June 28, 2022 222 Fifth, a new 197,000-square-foot, 9-story life sciences development at the base of the Space Needle, has broken ground in Downtown Seattle. The project, a joint venture between LPC West and Intercontinental Real Estate Corporation, is scheduled to be completed in early 2024. The new building is the first in a new wave of developments … Guenther Promoted to Kidder Mathews’ Managing Director Seattle & Northwest + Seattle + Office | June 28, 2022 Kidder Mathews’ Executive Vice President Gary Guenther has been promoted to Managing Director of the firm’s office in Bellevue, WA. Guenther will specialize in office and healthcare leasing and sales throughout the Puget Sound region. Guenther has 25 years of experience and has been involved in hundreds of leasing and sales assignments worth billions of … Latest Texas Stories Cheniere Moves HQ Two Blocks, to Texas Tower Texas + Houston-Galveston + Office | June 28, 2022 The liquified natural gas exporter has leased 151,490 square feet of the new tower, the most significant office lease in Houston in over a year. Cheniere will take up four floors, that will include 16,000 square feet of private gardens and a 700 square-foot outdoor terrace just for Cheniere employees and visitors. The company is … Nearly 100,000 Square Foot Sugar Land Self-Storage Facility Changes Hands Texas + Houston-Galveston + Industrial | June 28, 2022 Imperial Self Storage, a three-level building totaling 95,963 square feet was sold to OB Companies/My Place Self Storage. JLL marketed the property on behalf of the seller, SurePoint Self Storage. Managed by CubeSmart, the facility features climate-controlled units, motion-detector LED lighting, surveillance cameras, keypad entry and on-site management. The property is comprised of 472 spaces … Latest Washington DC Stories MRP, Barings Land $69M for Third and Final Phase of Washington Gateway Washington DC + DC + Apartments | June 28, 2022 MRP Realty and Barings have received $69.4 million in financing for Phase III of Washington Gateway. Eastdil Secured brokered the construction loan with Santander Bank NA. Located in the NoMa neighborhood and adjacent to the Union Market district, this third and final phase will deliver a 16-story high-rise apartment building with 254 units and 3,800 … Meridian Group Buys Renewable Energy Certificates for DC Area Buildings Washington DC + DC Metro + Office | June 28, 2022 Bethesda, MD-based Meridian Group has procured renewable energy for nearly its entire DC metro portfolio. Through the purchase of Renewable Energy Certificates (REC), Meridian is supporting the operation and development of facilities that generate clean, renewable energy. “At Meridian, we care deeply about our tenants, our communities and our planet,” said Stacy Lautar, SVP and …
