Array Commercial Mortgage Debt Rises by Nearly $100B in Q2 National + Finance | September 26, 2022 Top-Tier Mall Operators Overcome Challenges Through Reinvention National + Retail | September 27, 2022 Case-Shiller Index Shows U.S. Home Price Gains Continuing to Slow National + Finance | September 27, 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 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. 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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 Dewitt Carolinas Starts First Tower of Billion-Dollar Office Development in Raleigh Atlanta & Southeast + Carolinas + Office | September 28, 2022 Dewitt Carolinas, Inc., has broken ground on 1000 Social, the first of two 12-story office towers at its 40-acre, billion-dollar project, The Exchange Raleigh. 1000 Social will deliver 330,000 square feet of Class A office space, 20,000 square feet of retail and 5,000 square feet of conference and meeting centers. The building is one of … Patrician LS Secures $25M Fannie Mae Refi Financing for Multifamily in Covington Atlanta & Southeast + Atlanta Metro + Finance | September 28, 2022 Greystone has provided a $25.3-million Fannie Mae Delegated Underwriting & Servicing loan to refinance a 232-unit multifamily property in Covington, GA. The $25.2 million non-recourse, fixed rate financing carries a 10-year term and 30-year amortization along with 10 years of interest-only payments. Loan proceeds are being used to pay off an existing Greystone CMBS loan … Latest Boston & New England Stories Waterstone Properties to Expand Heywood Hospital in Gardner with $29M from Rockland Trust Boston & New England + New England + Healthcare | September 28, 2022 Rockland Trust has provided $29 million in financing to Waterstone Properties Group for the construction of a surgical pavilion expansion at Heywood Hospital in Gardner, MA. The facility averages 7,000 annual procedures. The planned capital improvements will address upgrades needed to the surgical suite that was originally built in the 1960s and continues to be … Faros Properties Secures $11M Refi for 1800s Historic Hotels in Nantucket Boston & New England + New England + Finance | September 28, 2022 Faros Properties has secured an 11-million refinancing arranged by JLL for the Anchor Inn and Greydon House in Nantucket, MA. Jonathan Schneider of JLL worked on behalf of the borrower to secure a fixed-rate loan through Tristan Pierce of HarborOne Bank. “New England leisure markets, including Nantucket, have experienced the strongest ever lodging fundamentals over … Connect TeamJennifer LloydCreative DirectorDennis KaiserVice President, Public Relations & CommunicationsEmily LettieriVice PresidentView 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 IDS Obtains $124M Financing for Riverside Cold Storage Facility California + Inland Empire + Industrial | September 27, 2022 JLL Capital Markets has arranged $124 million in post-close acquisition financing on behalf of IDS Real Estate Group for 14950 Meridian Parkway, a 1.2 million-square-foot cold storage facility in Riverside, CA. The 10-year, fixed-rate loan was provided by Northwestern Mutual. The property is fully leased to United Natural Foods, the largest publicly traded wholesale distributor … Tauro Secures $52M Financing for Ventura MultiFam Development California + Los Angeles + Apartments | September 27, 2022 Tauro Capital Advisors has facilitated $52 million in construction financing for a 125-unit, 10,000-square-foot mixed-use development in Ventura, CA. Tauro’s Matt Bucaro and Frankie Paparella negotiated the transaction on behalf of Leap of Faith Partners, a Los Angeles-based developer. “The developer was originally sourcing LP Equity for this transaction which would have given them $6 … Latest Chicago & Midwest Stories Search Firm 20/20 Foresight Adds Steven Adamczyk as Managing Director Chicago & Midwest + Downtown + Finance | September 27, 2022 20/20 Foresight has appointed Steven Adamczyk as managing director. Adamczyk brings more than 30 years of experience as an accomplished leader in commercial real estate to the Chicago-based executive search firm. Most recently, he served as EVP, head of landlord advisory services and co-president of property management services at Newmark. Prior to joining Newmark, Adamczyk served … Kiser Group’s Siam Launches Advisory Business Chicago & Midwest + Downtown + Apartments | September 27, 2022 Kiser Group’s Rashad Siam has officially launched his advisory business with Kiser Group. Siam has been with the firm as an associate since December 2021 and was promoted to the Advisor role earlier this month. Siam’s advisory business plan includes a focus on buildings greater than five units in Chicago’s South and West Side markets. He looks forward to … Latest Florida & Gulf Coast Stories Northmarq Arranges $56M in Pre-stabilized Financing for Jacksonville Community Florida & Gulf Coast + North Florida + Finance | September 28, 2022 Northmarq has arranged a $56-million first mortgage loan secured by Fountainhead, a 360-unit, Class A multifamily on Corklan Drive in Jacksonville, FL. Ryan Whitaker of Northmarq arranged pre-stabilized financing structured as a 10-year, fixed-rate, full-term, interest-only loan with a life company lender. “The project was still under construction when we began the process of refinancing … Emerald Creek Capital Releases Fully Leased, 247K-SF Warehouse in Elkton for $22M Florida & Gulf Coast + Central Florida + Industrial | September 28, 2022 Emerald Creek Capital has sold a single-tenant, climate-controlled industrial facility in Elkton, FL for $21.9 million in an off-market transaction. ECC’s Opportunity Fund had acquired the 246,818 square foot warehouse at an attractive basis in partnership with a vertically integrated operator that owns and manages over 10 million square feet of industrial real estate. The … Latest Global Stories Flexible Office Gains Stature in Workplace Strategy National + Global + Office | September 16, 2022 A global survey by Cushman & Wakefield and WeWork found growing demand for flexible office space. The data and perspectives provided by the survey suggest that flexible office options can be a valuable component of a diverse office workplace ecosystem, providing employees the workplace flexibility they now demand. Among the 800 WeWork users surveyed, 40% … Cain International Leads $900M Investment in Luxury Hotelier Aman Group Global + Hospitality | August 17, 2022 Privately held investment firm Cain International and The Public Investment Fund have made a $900-million investment into Aman Group to support the brand’s global expansion of ultra- luxury hotels and branded residences. The transaction values Aman Group at US$3 billion. Aman Group comprises a collection of 34 hotels across 20 countries, 12 of which include Aman Branded … Latest Lenders Stories Latest National Stories Case-Shiller Index Shows U.S. Home Price Gains Continuing to Slow National + Finance | September 27, 2022 The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 15.8% annual gain in July, down from 18.1% in the previous month, S&P Dow Jones Indices said Tuesday. The 10-City Composite annual increase came in at 14.9%, down from 17.4% in June, while the 20-City Composite posted … Top-Tier Mall Operators Overcome Challenges Through Reinvention National + Retail | September 27, 2022 The COVID-19 pandemic was widely expected to finish off the shopping mall. It didn’t. Although indoor malls, open-air lifestyle centers and outlet malls continue to face real challenges, a new whitepaper from Placer.ai demonstrates how forward-thinking operators are overcoming them. “While they may no longer play the central role they once did in Americans’ shopping … Latest New York & Tri-State Stories Coffee Shop, Veterinary Clinic Come to Greenwich Village Mixed-Use New York & Tri-State + Downtown New York + Retail | September 27, 2022 Cushman & Wakefield arranged two long-term retail leases totaling 6,083 square feet at 688 Broadway in Greenwich Village. Blank Street Coffee will occupy 962 square feet on the ground floor, while veterinary clinic Bond Vet will occupy 5,121 square feet across the lower and ground floors.. A Cushman & Wakefield team of Sean Moran, Jason … Resnick Completes Nine Lease Deals at Plaza District Tower New York & Tri-State + Midtown New York + Office | September 27, 2022 Jack Resnick & Sons has completed nine lease deals at 133 E. 58th St.,, its 15-story building in Midtown Manhattan’s Plaza District. The transactions, totaling nearly 30,000 square feet, encompass six new leases, one expansion and two extensions. Ownership was represented in-house by Fran Delgorio and Brett Greenberg on all nine transactions. The new 10-year … Latest Phoenix & Southwest Stories Phoenix Mayo Clinic Served Hotel Sells for $50.5 Million Phoenix & Southwest + Phoenix + Hospitality | September 27, 2022 Dreamscape Companies has acquired the Residence Inn Desert View at Mayo Clinic. The extended stay hotel is adjacent to the famous Mayo Clinic, which is preparing for a massive $700 million renovation. Dreamscape paid $50.5 million for the property. The hotel was sold by the Robert Finvarb Companies, based out of Miami, Florida. The deal … Iconic Cabins Sell Off in Arizona’s Red Rock Country Phoenix & Southwest + Arizona + Hospitality | September 27, 2022 Nestled in between red rock canyons, piñon pines and rock waterfalls sits the Destination @ Oak Creek. The resort is made up of ten individual cabins on the outskirts of Sedona, an Arizona high desert town near Flagstaff. It’s noted for its mild climate and vibrant arts community. Oak Creek runs through the town, with its … Latest Seattle & Northwest Stories Security Properties Sells Nashville Portfolio for $176M Seattle & Northwest + Seattle + Apartments | September 27, 2022 Seattle-based Security Properties has sold a three-property, multifamily portfolio in Nashville, TN for an aggregate price of $175.6 million. Walker & Dunlop’s Russ Oldham, Brett Kingman and Robbie O’Bryan arranged the sale to local management firm Carter-Haston. Walker & Dunlop also financed the buyer. The properties included are: Artessa, a 250-unit apartment community in Franklin, … Spokane Apartment Complex Earns National Award Seattle & Northwest + Washington + Apartments | September 27, 2022 The Affordable Housing Tax Credit Coalition has presented the Ridpath Club Apartments in Spokane, WA the Charles L. Edson Tax Credit Excellence Award, recognizing affordable housing that has demonstrated impactful use of the Low-Income Housing Tax Credit. “I’m delighted that Ridpath Club Apartments is a recipient of this year’s Edson Award,” said Washington Senator Patty … Latest Texas Stories Civicap Purchases 419-Unit Houston Apartment Rental Texas + Houston-Galveston + Apartments | September 28, 2022 Newmark secured a $61.7 million Freddie Mac loan on behalf of Civicap Partners to purchase the Metro Midtown, a 419-unit luxury community in downtown Houston. A partnership of AllianceBernstein and Merion Realty Partners sold the asset after eight years of ownership. The community is located at 2350 Bagby St., in proximity of the Metro Rail, connecting the property to … TTI Capital Acquires Rowlett Development on DART Line Texas + Dallas-Fort Worth + Apartments | September 28, 2022 Rowlett Station is an upscale rental community that opened last year in downtown Rowlett, just steps away from a DART rail transit stop. The 302-unit apartment property was developed by Zale Properties of Dallas. TTI Capital, a company that already has stakes in Dallas-Fort Worth, acquired Rowlett Station. Rents in the community start at just … Latest Washington DC Stories Arlington Partnership for Affordable Housing Opens $80M Veterans Community Washington DC + DC Metro + Apartments | September 28, 2022 Arlington Partnership for Affordable Housing has celebrated the opening of Terwilliger Place in Arlington, VA. The $80-million development is billed as VA’s largest affordable housing project for veterans and as the first Housing Credit project in VA with a leasing preference for veterans. The development was supported by $25 million in construction debt and $37 … EnCompass Takes 21K-SF at Station Square Office Complex in Silver Spring Washington DC + DC Metro + Office | September 28, 2022 Bridge Investment Group has executed a new office lease with EnCompass, LLC, for space at Station Square, a 510,200-square-foot, three-building Class A office complex in Silver Spring, MD. Ben Powell of Cushman & Wakefield represented the landlord in the transaction. EnCompass was represented by Mike Alcamo from The Tenant Agency. According to Bridge Investment Group, …
