Array Real Estate Roundtable Asks Feds to Implement Troubled Debt Restructuring for CRE National + Finance | March 20, 2023 U.S. Sale-Leaseback Volume Sets New Records National + Finance | March 17, 2023 MBA: Commercial Mortgage Debt Grew by $324B in 2022 National + Finance | March 21, 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 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 Trinity Partners Promotes William Allen to Managing Partner Atlanta & Southeast + Carolinas + Office | March 21, 2023 Commercial real estate firm Trinity Partners has named William Allen as managing partner for the company’s Raleigh, NC office. In his newly expanded role, Allen will provide financial and operational oversight for the firm while continuing to focus on his office leasing responsibilities. Allen, who has been involved in Triangle commercial real estate for more … Colliers | South Carolina Reps Law Firm in 7K Lease at 3700 Landmark Drive in Columbia Atlanta & Southeast + Carolinas + Office | March 21, 2023 Commercial real estate firm Colliers | South Carolina has represented Gignilliat, Savitz & Bettis, LLP in the lease of a 6,806-square-foot office space at 3700 Landmark Drive in the Forest Acres area of Columbia, SC. Allen Wilkerson with Colliers | South Carolina represented Gignilliat, Savitz & Bettis, LLP, which provides employment and labor law services … Latest Boston & New England Stories Stag Industrial Names Steven Kimball as EVP; Announces Retirement of Executive Chair Ben Butcher Boston & New England + Boston + Industrial | March 21, 2023 Boston, MA-based STAG Industrial, Inc. has appointed Steven Kimball as EVP—real estate operations, effective when he joins the company later this spring. Kimball currently serves as executive director at PGIM Real Estate, where he oversees asset management of a Northeastern industrial property portfolio. Kimball will lead the company’s asset management and construction departments. He will … Berkeley Investments Greenlighted for 720K-SF Life Science Development in Allston Boston & New England + Boston + Office | March 21, 2023 Berkeley Investments’ life science project, 176 Lincoln in the Allston section of Boston, MA, has been fully approved. The transit-oriented, mixed-use development will encompass Class A lab and R&D space, office space and residential units with immediate access to downtown Boston and Harvard Square in Cambridge. The 176 Lincoln project will rise on a five-acre … Connect TeamPaul BubnySenior Content DirectorDennis KaiserVice President, Public Relations & CommunicationsHoward BreitroseVice President, Connect Creative & 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 New California Bill Aims for 1,000-foot Warehouse Buffer California + Inland Empire + Industrial | March 21, 2023 The Inland Empire remains one of the most sought-after industrial markets in the country, and a San Bernardino California lawmaker is looking to place restrictions on where those warehouses can be built. Democratic Assembly Majority Leader Eloise Gómez Reyes plans to reintroduce a bill that would create a 1,000-foot buffer zone between new warehouses and … Great Park $90M Facility will be Home to USA Water Polo California + Orange County + Hospitality | March 21, 2023 Groundbreaking for Phase I of the new 1,300-acre Great Park complex in Irvine, CA could begin within the next two months, and it will include a $90 million aquatic facility that will become the home of the USA Water Polo team. The Orange County register reports the City Council overwhelmingly approved the three-pool facility ahead … Latest Chicago & Midwest Stories Mid-America Brokers Sale of Gold Coast Luxury Retail Chicago & Midwest + Downtown + Retail | March 21, 2023 Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of 1003 N. Rush St., an urban retail building located along Chicago’s Oak Street and Rush Street luxury district in Gold Coast. Featuring a brand new Vuori store, the 5,443 square-foot building was sold to a private family for an undisclosed sum. Vuori is one … Conagra CEO Connolly Named Board Chair for Economic Club of Chicago Chicago & Midwest + Downtown + Finance | March 21, 2023 The Economic Club of Chicago has announced that Conagra Brands CEO Sean Connolly has been selected as the next chair of its board of directors. A member of the influential civic organization since 2012, Connolly will take over in July, succeeding Foot Locker CEO Mary Dillon, whose two-year term as chair ends June 30. Connolly’s appointment was … Latest Florida & Gulf Coast Stories Aging Boomers Drive Blaze Capital Partners to Acquire Active 55+ Community in Davenport Florida & Gulf Coast + Central Florida + Apartments | March 21, 2023 Blaze Capital Partners, with Virtus Real Estate Capital, has acquired The Pointe at Siena Ridge, a 163-unit, 55-plus, multifamily community in the Orlando submarket of Davenport, FL. The acquisition is Charleston, SC-based Blaze Capital Partners‘ fourth acquisition in the active adult sector over the past five months following Hardy Springs in the Paulding County submarket … Pacific & Orient Starts $75M, Japanese-Living Inspired Condo in North Bay Village Florida & Gulf Coast + South Florida + Apartments | March 21, 2023 Pacific & Orient Properties, LLC has broken ground on a $75-million, 21-story waterfront condominium development in the Miami submarket of North Bay Village, FL. According to the company, 7918 West Drive is the first groundbreaking in North Bay Village in ten years. Situated on a 33,600-square-foot lot on the Intracoastal Waterway, 7918 West Drive will … Latest Global Stories Newmark Acquires Gerald Eve LLP, Augmenting International Expansion Global + Finance | March 13, 2023 Newmark Group, Inc. has acquired London-based real estate advisory firm Gerald Eve LLP. Financial terms weren’t disclosed. The transaction provides Newmark with added depth and breadth of services, augmenting its expansion internationally and positioning it to be a market leader in office, logistics and retail in the UK and Europe. “Gerald Eve is a market-leading advisor in the UK,” … Global CRE Pricing Growth Stalls After 52 Quarters National + Global + Finance | February 9, 2023 Price growth of global commercial property came to a halt in the fourth quarter of 2022, as deal volume plummeted worldwide, according to MSCI Real Capital Analytics. The Global Cities Composite Index fell 0.5% compared to Q3 2022 and gained 3.7% year-over-year, ending a 52-quarter run of positive quarterly growth. The 61% Y-O-Y plunge in … Latest Lenders Stories Latest National Stories MBA: Commercial Mortgage Debt Grew by $324B in 2022 National + Finance | March 21, 2023 The level of commercial/multifamily mortgage debt outstanding at the end of 2022 was higher by $324 billion, or 7.7%, compared to a year ago, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report. MBA’s report found that total mortgage debt outstanding rose by 1.7% ($77.9 billion) in fourth-quarter 2022. Multifamily … Real Estate Roundtable Asks Feds to Implement Troubled Debt Restructuring for CRE National + Finance | March 20, 2023 The Real Estate Roundtable has requested federal bank regulators to reestablish immediately a troubled debt restructuring (TDR) program for commercial real estate that would give financial institutions increased flexibility to refinance loans with borrowers and lenders. The letter from Real Estate Roundtable president and CEO Jeffrey DeBoer cited numerous financial stressors: rising interest rates, a … Latest New York & Tri-State Stories Meridian Arranges $28M Financing on Four-Building Office Portfolio New York & Tri-State + Downtown New York + Finance | March 21, 2023 Meridian Capital Group arranged $28 million in financing for four retail and office properties in Manhattan. Totaling 164,675 square feet, the properties are located at 9 E. 19th St., 18-20 W. 21st St., 135-141 W. 20th St. and 110-112 W. 27th St. in the Chelsea and Flatiron neighborhoods. The transaction was negotiated by Meridian senior … Pretium Hires 25-Year Veteran as Managing Director, Asset Management New York & Tri-State + Midtown New York + Finance | March 21, 2023 Pretium, a specialized investment firm with more than $50 billion in assets under management, said Melanie Gersper had joined the firm as managing director, asset management. She will lead the asset management of Pretium’s equity real estate portfolio nationwide, including more than 90,000 single-family residential homes managed by Progress Residential as well as Pretium’s build-to-rent platform. Gersper brings more … Latest Phoenix & Southwest Stories Avondale Apartment Sale Breaks $100M Level Phoenix & Southwest + Phoenix + Apartments | March 21, 2023 Institutional Property Advisors brokered the sale of Aventura, a 408-unit multifamily asset in Avondale, Arizona. The property sold for $102.5 million, or $251,225 per unit. Avondale is about 15 miles west of Phoenix. Constructed in 2000 on 18 acres, Aventura is a gated, 19-building garden-style asset with two resort-style swimming pools. The property also has … Joint Venture Spins Off Two Colorado Springs Rental Communities Phoenix & Southwest + Southwest + Texas + Apartments | March 21, 2023 An affiliate of The Axton Group and The Bascom Group, LLC have closed on the sale of two multifamily communities, Park at Penrose and Park at Palmer, in Colorado Springs, Colorado, for $74.1 million. Park at Penrose with 374 units, and Park at Palmer with 112 units, are situated along N. Academy Boulevard near Austin … Latest Seattle & Northwest Stories Oregon Lawmakers Advance $200M Housing Measures Seattle & Northwest + Oregon + Apartments | March 21, 2023 The Oregon House has advanced legislation to build more affordable housing and help people who are on the verge of homelessness. According to the Daily Journal of Commerce, House Bills 2001 and 5019 would dedicate $200 million for the construction of affordable housing and to help address the homelessness situation. Under the legislation, cities with … Vancouver Mall Grows Lineup with Seven New Tenants Seattle & Northwest + Portland + Retail | March 21, 2023 Vancouver Mall, a lifestyle shopping center in the Portland, OR submarket of Vancouver, WA has announced it will soon welcome seven new tenants at its location in the heart of Southwest Washington’s “Silicon Forest”. The new tenants include: Twisted Escape Rooms, a family-friendly, puzzle solving time trial; Paliy Construction remodeling company; Mariya’s Touch Boutique clothing … Latest Texas Stories High-Tech Recycler Picks Austin to Aid Growth Texas + Austin + Industrial | March 21, 2023 Sortera Alloys, with a recycling platform powered by artificial intelligence, data analytics, and advanced sensors, has opened its newest office in Austin. It plans to focus on advancing technology in the recycling industry. Sortera’s sorting technology consists of vision and other advanced hardware sensors that are driven by software utilizing artificial intelligence. Austin was chosen as the … Kroger Keeping Pace in N. Texas Grocery Wars Texas + Dallas-Fort Worth + Retail | March 21, 2023 H-E-B and Gordon Food Service have been dominating the news when it comes to competition in North Texas for your food dollar. Don’t count out Kroger. Three new Kroger Marketplace stores, their version of a super store, will be coming to the Dallas-Fort Worth Metroplex in 2024. Shoppers in Plano, Fort Worth and Melissa will … Latest Washington DC Stories Walker & Dunlop Debuts All-Female Small Balance Lending Leadership Team Washington DC + DC Metro + Finance | March 21, 2023 Bethesda, MD-based commercial real estate finance and advisory services firm Walker & Dunlop, Inc. has promoted four members of its small balance group (SBG) and in doing so has the first all-women-led lending team at the company. The team will be responsible for setting and executing on the SBG strategic direction in partnership with executive … Capital Square Launches Property Management Arm, Names Gus Remppies President Washington DC + DC Metro + Apartments | March 21, 2023 Glen Allen, VA-based Capital Square, a sponsor of tax-advantaged real estate investments and an active developer of multifamily communities, has launched Capital Square Living. The wholly owned subsidiary will oversee all management functions of the company’s multifamily portfolio, currently comprised of 55 residential communities and more than 14,000 units across the Southeast and TX. Capital … Latest Stories FromMixed-Use Multifamily & Hospitality Platform Placemakr Scores $65M in New CapitalAlternative Assets | March 21, 2023Multifamily and hospitality platform Placemakr raised $65 million in new funding, exceeding $350 million in total capital raised. The company has also named Timothy G. Franzen, the former president of Graduate Hotels, as chief development officer. The fresh capital in the mixed-use-focused real estate firm comes from venture capitalists and real estate investors, including Highland ...Security Properties Closes Oversubscribed Sixth Co-GP Multi-Family Real Estate Fund at $200MAlternative Assets | March 21, 2023Real estate investment firm Security Properties has closed its sixth co-GP multifamily real estate fund, Security Properties Multifamily Fund VI, at $200 million. The company initially targeted $150 million for the latest fund, which had a hard cap of $200 million. Although the raise was initially projected to take more than two years, the fund ...Early-Stage Fintech-Focused TTV Capital Raises Largest Ever Fund at $250MAlternative Assets | March 21, 2023Atlanta-based venture capital firm TTV Capital, an early-stage fintech venture capital firm, has closed its sixth fund at $250 million, the largest since the firm was founded in 2000. TTV Capital, which originally targeted $150 million, saw “overwhelming” interest from institutional and strategic investors, as well as family offices, despite the downturn in the fintech ...Corporate Card Startup Parker Scores $157M for E-Commerce BusinessesAlternative Assets | March 21, 2023Parker, a startup that offers credit cards for e-commerce firms, emerged from stealth with $157 million in equity and debt funding. The funding consists of a $31.1 million Series A round led by Valar Ventures, a $5.9 million seed round and $120 million in debt funding made up of venture debt from Triple Point Capital ...
