Array Fed Pauses Rate Hikes, Indicates More are Coming National + Finance | June 14, 2023 Apartment Rents Post Largest Annual Decline Since 2020 National + Apartments | June 12, 2023 CREFC Survey Shows Uptick in Sentiment, Yet Concerns Persist National + Finance | June 14, 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 Construction Begins on New Upscale Multifamily in Savannah Atlanta & Southeast + Georgia + Apartments | June 14, 2023 Birmingham-based Daniel Corporation has begun work on a $100 million upscale multifamily community on Savannah’s Hutchinson Island. The project for the island is one of several, as the area is seeing increasing amounts of investment and development after years of delayed projects. The six-building community will be adjacent to the Westin Savannah Golf Resort and … Nashville Tech School Site Eyed for Mixed Use Redevelopment Atlanta & Southeast + Southeast + Apartments | June 14, 2023 Southern Land Co. finalized the purchase of more than 16 acres in East Nashville with an eye toward redevelopment. Southern Land paid $33.75 million for the site, which currently houses Lincoln School of Technology. The seller was an LLC affiliated with Lincoln Educational Services Corp., which had owned the land since buying Nashville Auto-Diesel College … Latest Boston & New England Stories C&W: Boston Industrial Sector Due for Cyclical Reset Boston & New England + Metro Boston + Industrial | June 14, 2023 After two years of strong demand driven by a booming economy and the rapid growth of e-commerce, Boston’s industrial sector is experiencing a cyclical reset, according to a U.S. Industrial Construction report published by Cushman & Wakefield. As the construction of new industrial spaces reaches its peak, demand is beginning to slow down, signaling a … Half of Mass. Employers Plan to Cut RE Footprint Boston & New England + Massachusetts + Office | June 14, 2023 According to a survey conducted by the Massachusetts Business Roundtable, nearly half of the employers in Massachusetts are planning to reduce their real estate footprint in the state, reported by Boston Business Journal. The survey indicates that despite the value of the highly educated workforce in Massachusetts, businesses are facing challenges in recruiting and retaining talent … Connect TeamKasi OrcuttDirector, Connect ClassroomSarah QuinnVice PresidentPaul BubnySenior Content DirectorView 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 Rexford Scores Leasing Success with Repositioning Strategy California + Los Angeles + Industrial | June 14, 2023 Rexford Industrial Realty, Inc., headquartered in Los Angeles, has executed 1.5 million square feet of new and renewal leases across its portfolio thus far in the second quarter. These included 375,000 square feet of lease-up at of repositioning and redevelopment projects. The repositioning/redevelopment leases included the following: “Our value-add leasing and repositioning strategies, delivered by our fully integrated, entrepreneurial … MMCC Lines Up Acquisition Loan for Santa Ana Industrial California + Orange County + Finance | June 14, 2023 Marcus & Millichap Capital Corporation (MMCC) arranged a $6,466,500 loan for the acquisition of an industrial property located at 1820 S. Santa Fe St in Santa Ana. Richard Knorr, first VP, capital markets, based out of MMCC’s Inland Empire office, secured the financing with a national bank. “We were able to secure attractive financing for this recently renovated property, … Latest Chicago & Midwest Stories NY Developer Plans to Build 1,500 Apartments in Fulton Market Chicago & Midwest + Downtown + Apartments | June 14, 2023 An additional 1,500 apartments could be coming to the Fulton Market neighborhood at the intersection of Morgan and Kinzie streets, which currently houses surface lots and several industrial buildings. New York-based developer Vista Properties wants to build three mixed-use buildings in the area that has seen a flurry of development activity. The build would include … Bill Baumann Joins JLL’s Multi-Housing Team Chicago & Midwest + Downtown + Apartments | June 14, 2023 Bill Baumann has joined the JLL’s multi-housing team as a Managing Director in the Chicago office. He will report to Senior Managing Directors Danny Kaufman and Jaime Fink, who co-lead JLL’s Chicago Capital Markets office. “We are very excited to welcome Bill to JLL,” said Kaufman. “His experience and leadership within the industry will be … Latest Florida & Gulf Coast Stories Housing Trust Group Bringing $100M Mixed Use Development to Hollywood, FL Florida & Gulf Coast + South Florida + Apartments | June 14, 2023 Housing Trust Group has closed on financing for University Station, a new $100 million, mixed-use development in Hollywood, FL. The development is a public-private partnership with the City of Hollywood. Plans feature workforce and affordable housing options, retail space, parking for public and private use, and a new home for Barry University’s College of Nursing … Northmarq Arranges $11M Refi for Orlando Apartments Florida & Gulf Coast + Central Florida + Apartments | June 14, 2023 Northmarq arranged the $10,857 refinance of Colonial Gardens Apartments in Orlando. Mike Padilla, Northmarq senior vice president, and Dan Trebil, executive vice president and regional managing director in the Minneapolis office, arranged the transaction for the 220-unit workforce housing property. The refinancing was structured with a 10-year term with five-years of interest only payments on … 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 CREFC Survey Shows Uptick in Sentiment, Yet Concerns Persist National + Finance | June 14, 2023 The CRE Finance Council’s Second-Quarter 2023 CREFC Board of Governors (BOG) Sentiment Index shows a modest recovery in market confidence from the previous quarter, CREFC said Wednesday. The overall index value increased to 78.5 from 67.5 in Q1. However, despite positive trends in sentiment, concerns still persisted across several key areas. Regarding the U.S. economy, … Fed Pauses Rate Hikes, Indicates More are Coming National + Finance | June 14, 2023 As was widely expected, the Federal Reserve paused on a further increase in the federal funds rate for June, keeping it in a target range of 5% to 5.25% after 10 consecutive increases. However, the Federal Open Market Committee’s projections released on Wednesday indicated that two more increases are coming and that rates could move … Latest New York & Tri-State Stories Mayor Adams, DCP Unveil Zoning Initiative to Support Small Business New York & Tri-State + New York + Retail | June 14, 2023 New York City Mayor Eric Adams and the Department of City Planning (DCP) have unveiled the “City of Yes for Economic Opportunity” plan, aimed at changing zoning citywide to promote economic recovery and support small businesses. The proposal includes 18 policy changes, such as allowing clean manufacturers and microbreweries to expand their space, permitting … MF1 Provides $83M in Acquisition Financing for Six Harlem Residential Buildings New York & Tri-State + Uptown/Bronx + Apartments | June 14, 2023 Meridian Capital Group facilitated an $83 million acquisition financing deal for The Dunbar Apartments, a six-building residential complex in Harlem, New York City. MF1 provided the financing. Located at 2802-2816 Frederick Douglass Boulevard, the complex consists of six six-story buildings with a total of 537 units. The financing was negotiated by Meridian’s Morris Betesh, Israel … Latest Phoenix & Southwest Stories Google Shows Plans for $1B Mesa Data Center Phoenix & Southwest + Phoenix + Industrial | June 14, 2023 The city of Mesa approved zoning on the data center campus in 2019. It’s taken this long for the company to start coming forward with building design plans. The project — called “Redhawk” — is planned on more than 185 acres near the northwest corner of Sossaman and Elliot roads. The Phoenix Business Journal Reports … Land Buy Points to Another Phoenix High-Rise Phoenix & Southwest + Phoenix + Apartments | June 14, 2023 The sale only involved one acre of land, but zoning allows for 741 residential units on the tiny, infill property. Mason Holding LLC was the buyer of the parcel at 1st and McKinley. The Phoenix Business Journal reports the company paid $12 million, or about $276 a square foot of land. A Cushman & Wakefield … Latest Seattle & Northwest Stories Wood Investments Greets Gateway to Yellowstone’s New Tenants Seattle & Northwest + Pacific Northwest + Retail | June 14, 2023 Wood Investments Companies, Inc., a commercial real estate investment company specializing in retail, announced several new tenants at Yellowstone Gateway shopping center in Billings, Montana. New tenants HomeGoods and Sierra are already open, and Petco will open later this month in the former Big Bear Sports Center building at 2618 King Avenue West. HomeGoods and … Canadian Asian-Themed Grocery Chain to Open First U.S. Store Seattle & Northwest + Washington + Retail | June 14, 2023 T&T Supermarkets, a Canadian grocery chain specializing in Asian products, will open its first U.S. store in the summer of 2024 in Bellevue, Washington. Located in the Marketplace at Factoria, the 76,000-square-foot supermarket will be the largest Asian supermarket in the state and a flagship store for T&T, which is owned by Loblaw Companies Ltd. … Latest Texas Stories San Antonio’s Winston Hotels Offering Office Space Texas + San Antonio + Office | June 14, 2023 Adaptive reuse can take on a number of shapes and sizes. From office to apartments, and office to hotels seems to be the most common. How about hotel rooms to office space? Winston Hotels, which late last year wrapped up redevelopment of the former Riverview Towers office complex in downtown San Antonio into a pair … Journeyman Links With Credit Unions for Austin Apartment Build Texas + Austin + Apartments | June 14, 2023 Few credit unions would accept the risk involved with financing a $49 million apartment project on their own. But seven might. Journeyman Group is building a 285-unit affordable housing project in South Austin, a project financed with a syndicated construction loan. Unlike larger banks, most credit unions have to band together in order to provide the … Latest Washington DC Stories Shaw MF Community Changes Hands Washington DC + DC + Apartments | June 14, 2023 JLL Capital Markets has closed the sale of The Shay, a multifamily community in Washington, D.C.’s Shaw neighborhood, buyer and sales price weren’t identified. Located at 1924 8th St NW, the 245-unit property offers studio, one and two-bedroom units. Residents can access amenities such as a heated pool, landscaped rooftop decks, a catering kitchen, and … Dill Dinkers to Open New MoCo Pickleball Courts Washington DC + DC Metro + Retail | June 14, 2023 Dill Dinkers, an operator of two Maryland pickleball venues, is expanding its presence in the area with a new location in Montgomery County. The venue has signed a lease for a 28,552-square-foot space at 4942 Boiling Brook Parkway within the Randolph Hills Complex. Dill Dinkers, founded by Denise and Will Richards, already operates facilities … Latest Stories FromBREAKING NEWS: Fed Pauses Rate Hikes, Indicates More are ComingLatest News | June 14, 2023As was widely expected, the Federal Reserve paused on a further increase in the federal funds rate for June, keeping it in a target range of 5% to 5.25% after 10 consecutive increases. However, the Federal Open Market Committee’s projections released on Wednesday indicated that two more increases are coming and that rates could move ...Red Oak Redeems Series A Bonds Ahead of ScheduleAlternative Assets | June 14, 2023Red Oak Capital Fund IV, LLC, a Delaware limited liability company, elected to redeem all outstanding 6.25% Senior Secured A Bonds and 6.50% Senior Secured Ra Bonds on June 9, 2023. The Series A Bonds have an aggregate principal of $2.22 million and were originally scheduled for redemption on June 30, 2023. Series A holders ...Bow River Capital Hires Trio of Investment Executives for Newly Launched Private Credit TeamAlternative Assets | June 14, 2023Alternative assets manager Bow River Capital hired three investment executives to launch a new private credit team. Telamon Capital founder Eli Muraidekh, former Yukon Partners principal Aaron Arnett and ex-Strategic Capital Partners vice president Joshua Apfel form the team, while the firm’s private credit investment committee now includes ex-Alcentra CEO and Bow River Capital advisor ...Blackstone Makes Majority Investment in Out-of-Home Advertiser New TraditionDirect Investment | June 14, 2023Blackstone Inc., through funds managed by Blackstone Tactical Opportunities, has acquired a majority stake in New Tradition Media, an out-of-home media operator. Financial terms of the deal were not made available. Founded in 2010, New York-based New Tradition develops, owns and operates digital and static signage for national brands and advertising agencies. It manages advertising ...
