Distressed Asset Borrowers: To Sell or Not To Sell Cover Story | September 27, 2023 Lloyd Blankfein: “Near the End of Tightening Cycle” National + Finance | October 3, 2023 Survey: Investors Expect Crash in Office Prices National + Office | October 3, 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 Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.comVillage of the PinesStockton, CACalifornia & West + Apartments + Garden StyleListing Status:AvailableListing Type:Highest & best offerPrice:$15,500,000No. of Units:100Year Built:1969No. of Stories:2Opportunity Zone:NoPrice per unit:$155,000Learn MoreBankruptcy Sale: 291 Livingston StreetBrooklyn, NYNew York & Tri-State + Hotel/MotelListing Status:AvailableListing Type:AuctionNo. of Units:104Year Built:2023Building Size:50914 Sq ftLot Size:3400 AcresNo. of Stories:22Zoning Code:C6-4, DBOpportunity Zone:NoLearn MoreHuntington Park ApartmentsBeaumont, TXTexas + ApartmentsListing Status:UnavailableListing Type:Call for offersNo. of Units:92Year Built:1972Lot Size:79556 AcresOpportunity Zone:NoLearn 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 Nashville Yards Project Secures $212M Construction Loan Atlanta & Southeast + Southeast + Apartments | October 3, 2023 Southwest Value Partners and Anschutz Entertainment Group (AEG) rounded up a $211.97 million construction loan tied to the development’s music venue and an office and retail building. The construction loan is from Bank OZK. The Nashville Business Journal reports AEG is planning a 2.46 million-square-foot mixed-use entertainment district in the Nashville Yards development. Latest plans … Investors Looking to Expand Forsyth Retail Center Atlanta & Southeast + Atlanta + Retail | October 3, 2023 CTO Realty Growth paid $96 million on The Collection at Forsyth ten months ago, and now it looks like the company is looking to expand the 560,000-square-foot retail center. The Atlanta Business Journal reports that CTO Realty Growth bought 10.6 acres next to the project, where it has an opportunity to add more restaurants, entertainment … Latest Boston & New England Stories Alexandria to Build Moderna’s Cambridge HQ, R&D Center Boston & New England + Massachusetts + Healthcare | October 3, 2023 Alexandria Real Estate Equities has accelerated the delivery of its property at 325 Binney Street in Cambridge, Massachusetts, to Moderna. The 462,100-square-foot Class A+ property, set to deliver in November 2023, will serve as Moderna’s new global headquarters and core R&D operations. The facility, which will be Moderna’s most sustainable laboratory building in Cambridge, … Skanska Secures $66M MassDOT Contracts Boston & New England + Massachusetts + Washington DC + Industrial | October 3, 2023 Skanska has been awarded two design-build contracts worth a total of $66 million by the Massachusetts Department of Transportation. The contracts include the reconstruction of the Route 3 Bridge over Franklin Street in Duxbury, as well as the replacement of eight bridge decks across six locations in various towns. The Route 3 Bridge project … Connect TeamPaul BubnySenior Content DirectorSarah QuinnVice PresidentDennis 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 TCC’S District NoHo Wins Planning Commission Okay California + Los Angeles + Apartments | October 3, 2023 The Los Angeles City Planning Commission has approved District NoHo, a proposed joint development between the Los Angeles Metropolitan Transit Authority, Trammell Crow Company and its High Street Residential affiliate. The project could bring 2.2 million square feet of housing and commercial uses to the land surrounding North Hollywood Station, Urbanize LA reported. If final … WNC Closes LIHTC Funds at $350M California + Orange County + Finance | October 3, 2023 WNC, an Irvine-based provider of investment, asset management and development services in the affordable housing industry, closed two institutional low-income housing tax credit (LIHTC) funds totaling approximately $350 million in equity. The closure of the funds brings WNC’s total equity raise since inception to approximately $17.2 billion. “WNC remains focused on our mission to provide … Latest Chicago & Midwest Stories Wells Fargo Commits $175M for Chicago Retail Growth Chicago & Midwest + Downtown + Finance | October 3, 2023 Wells Fargo & Company is growing its retail branch footprint in the greater Chicago area as part of a $175 million commitment to the region. The company plans to increase its presence from seven to at least 30 branches in the coming years, and the new retail banks will create nearly 200 job opportunities. The first of the … Merchants Capital Completes $303M Securitization of 11 MF Loans Chicago & Midwest + Midwest + Finance | October 3, 2023 Merchants Capital completed a $303 million securitization of 11 multifamily housing loans via its fourth Freddie Mac-sponsored Q-Series transaction. The loans ranged from $4 million to $62 million and were used for the acquisition or refinance of multifamily properties spanning eight states. Most of the properties are workforce housing developments, with a significant portion of the … Latest Florida & Gulf Coast Stories Driftwood Secures $47M Refi for W. Palm Beach Hotel Florida & Gulf Coast + South Florida + Finance | October 3, 2023 Driftwood Capital secured $47 million in refinancing for Driftwood’s Canopy by Hilton West Palm Beach Downtown. The full-service hotel is situated in the heart of West Palm Beach. A Berkadia team led by Michael Weinbergand orchestrated the financing on behalf of Driftwood. Bank of America was the source of the funds. The newly secured financing is … Orlando Apartments Flip for $86M Florida & Gulf Coast + Central Florida + Apartments | October 3, 2023 PLK Communities paid $86 million for the Harbortown Apartments. The 428-unit project was built in 1999. LivCor was the seller. The Orlando Business Journal reports Livcor paid $100 million for the property in 2020. The community includes one-, two- and three-bedroom apartments and is bordered by both Turkey Lake and MetroWest Golf Club. Rents run … Latest Global Stories Global Cross-Regional Capital Flows Decline 52% Year-Over-Year National + Global + Finance | September 1, 2023 Global cross-regional capital flows between North America, Europe and Asia-Pacific totaled US$30.5 billion in the first half of 2023, down 52% compared to H1 2022, CBRE reported. Global investment was limited by elevated interest rates, softer real estate fundamentals and a mismatch in pricing expectations of buyers and sellers. Cross-regional capital flow to Europe from … Power Supply Constraints Inhibit Global Data Center Growth National + Global + Industrial | July 17, 2023 A worldwide shortage of available power is inhibiting growth of the global data center market, CBRE says in a new report. Sourcing enough power is a top priority of data center operators across North America, Europe, Latin America and Asia-Pacific. Despite strong near-term market fundamentals, power supply constraints could limit or delay development in markets … Latest Lenders Stories Latest National Stories Lloyd Blankfein: “Near the End of Tightening Cycle” National + Finance | October 3, 2023 “It might seem like forever, but obviously it won’t be forever,” said Lloyd Blankfein, former Goldman Sachs chairman and CEO, regarding the Federal Reserve’s series of interest rate increases. Speaking on Marcus & Millichap’s latest webcast, Blankfein continued, “These are all cycles and we’re getting near the end of this one. We’re certainly near the … Survey: Investors Expect Crash in Office Prices National + Office | October 3, 2023 Office prices in the U.S. are headed for a crash, and the commercial real estate market faces at least another nine months of declines, according to Bloomberg’s latest Markets Live Pulse survey. About two-thirds of survey respondents believe the U.S. office market will only rebound after a severe collapse, while an even greater majority say U.S. … Latest New York & Tri-State Stories Greystone Launches Preferred Equity Platform New York & Tri-State + New York + Finance | October 3, 2023 Greystone has launched a preferred equity and joint venture advisory and production group, led by senior managing director Matthew Zisler. The platform aims to provide subordinate financing solutions to address borrowers’ evolving capital needs, especially in today’s higher interest rate environment where senior loan proceeds are often lower. Greystone Equity will use its balance … ESRT Buys Two Williamsburg Properties for $26M New York & Tri-State + Outer + Finance | October 3, 2023 Empire State Realty Trust (ESRT) has acquired two adjacent properties at the northeast corner of North 6th Street and Wythe Avenue in Williamsburg for $26.4 million. These properties have a combined square footage of 11,000 square feet, including 5,600 square feet of retail space with an average lease term of 7.7 years and six … Latest Phoenix & Southwest Stories Las Vegas Office Building Sells for $307/Foot Phoenix & Southwest + Southwest + Office | October 3, 2023 Located at 10750 W. Charleston Blvd., the two-story building, built in 2001, sits on 5.63 acres near the intersection of West Charleston Boulevard and Town Center Drive. The two-tenant property is fully leased by Wyndham Vacation Ownership and Realty One Group, which have occupied the property since 2001 and 2008, respectively. The Tomchi Group, who paid … 135-Unit BTR Project Opens in Mesa Phoenix & Southwest + Phoenix + Apartments | October 3, 2023 A 135-unit single-family rental community has opened in Mesa. The developer, Isola Communities, broke ground on the build-to-rent project in early 2022. The developer added a few features that should limit noise and decrease utility bills. Each home is built with HercuWall™, a wall system that is designed to: Peralta Vista comprises one- and two-bedroom … Latest Seattle & Northwest Stories KeyBank Provides $14M for Supportive Housing in Tacoma Seattle & Northwest + Seattle + Finance | October 3, 2023 KeyBank Community Development Lending and Investment (CDLI) provided $14.6 million in financing for the construction of New Life Homes, a 60-unit low-income housing project on Hilltop in Tacoma, Washington. KeyBank CDLI provided a $14.6 million construction loan with LIHTC equity provided by the National Equity Fund (NEF). NEF is a tax credit syndicator, and KeyBank … Trion Properties Completes Disposition of Portland Area Assets Seattle & Northwest + Portland + Finance | October 3, 2023 Trion Properties, a multifamily real estate investment firm based in California and Florida, completed the disposition of York Apartments, a 52-unit multifamily property located in Tigard, Oregon. “The sale of York is the third disposition in a group of garden-style apartment properties that we acquired in the Portland region in 2019,” comments Max Sharkansky, Managing … Latest Texas Stories Lewisville Welcomes New 296-Unit Apartment/Retail Project Texas + Dallas-Fort Worth + Apartments | October 3, 2023 Legacy Partners and Pondmoon Capital Holdings USA have opened the Merit, a 296-residence mixed-use community in Lewisville, Texas. The community also includes an onsite restaurant and retail space that shares a large open-air patio overlooking a spacious public dog park nestled in natural terrain. The community is located off Interstate 35E, approximately 15 miles equidistant from … Challenging San Marcos Rental Project Nears Completion Texas + State of Texas + Apartments | October 3, 2023 The Lantana Apartments should have been taking in tenants by now. But thanks to Covid, lockdowns, lousy weather and supply-chain issues, the project was a struggle. Mission Development Group’s Mark Tolley added, “It’s been a very tough last two years to build, and of course, we could grouse about it, but I’m happy just to … Latest Washington DC Stories Skanska Secures $66M MassDOT Contracts Boston & New England + Massachusetts + Washington DC + Industrial | October 3, 2023 Skanska has been awarded two design-build contracts worth a total of $66 million by the Massachusetts Department of Transportation. The contracts include the reconstruction of the Route 3 Bridge over Franklin Street in Duxbury, as well as the replacement of eight bridge decks across six locations in various towns. The Route 3 Bridge project … Grosvenor Promotes Jonathan Carr to MD of Development Washington DC + DC + Finance | October 3, 2023 Grosvenor, a privately held property owner and developer, has promoted Jonathan Carr to the position of managing director of development. In this role, Carr will oversee the company’s development teams in Washington, D.C., and San Francisco, as well as serve as the point person for capital partners in the U.S. Carr has a track record … Latest Stories FromWarwick Capital Sees “Ample” CLO Opportunities After DebutCLOs | October 3, 2023Warwick Capital Partners, a global special situations private equity and credit manager, sees “ample opportunity” in the collateralized loan obligation (CLO) space after executing its first transaction. Warwick Capital CLO 1 is a $400 million US-focused broadly syndicated loan transaction which was placed by RBC Capital Markets. The firm, which was founded in 2010 and ...Coldstream Merges with Wealth and Accounting FirmsDirect Investment | October 3, 2023Coldstream Wealth Management, a $6.5 billion registered investment advisor, has merged with Seidman Capital Group (SCG), a wealth management firm, and Hersman Serles Almond, LLC (HSA), an accounting and consulting services firm, to expand its Pacific Northwest footprint. Victoria Serles, managing partner of Hersman, formed the two related enterprises in Kirkland, WA. Previously, she was ...T. Rowe Price, Oak Hill Launch $1.5B Private Credit FundAlternative Assets | October 3, 2023T. Rowe Price and Oak Hill Advisors have partnered to launch the T. Rowe Price OHA Select Private Credit Fund (OCREDIT), which has already raised $1.5 billion, making it one of the industry’s largest non-traded business development company (BDC) launches. T. Rowe Price and global institutional investors raised more than $600 million in equity, in ...PNC Buys $16.6B of Signature Bank’s PE LoansLatest News | October 3, 2023PNC Bank, a member of The PNC Financial Services Group, Inc., acquired a portfolio of capital commitments facilities, largely to private equity sponsors, from Signature Bridge Bank, N.A. through an agreement with the Federal Deposit Insurance Corporation (FDIC) as receiver. The acquired portfolio represents $16.6 billion in total commitments, including $9 billion of funded loans. ...
