Inland Private Capital Blazes a Trail in Tax-Oriented CRE Investing Cover Story | March 6, 2024 CRE Debt Outstanding Increases to $4.7T at Year-End 2023 National + Finance | March 15, 2024 Trepp: More Properties Selling at a Loss National + Office | March 18, 2024 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 Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.comPine Ridge ColonyAlbertville , ALAtlanta & Southeast + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$3,500,000No. of Units:72Year Built:1986Lot Size:3.53 AcresOpportunity Zone:NoPrice per unit:$48,611Learn MoreBeachwood ApartmentsHuntington Beach, CACalifornia & West + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$8,990,000No. of Units:18Average Occupancy:3.37Lot Size:17625 AcresOpportunity Zone:NoPrice per unit:$499,444Learn More928 28th AvenuePhenix City, ALAtlanta & Southeast + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$3,600,000No. of Units:56Year Built:2004Lot Size:0.33999081726354 AcresOpportunity Zone:NoPrice per unit:$64,285Learn 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. 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 Daniel Corp. to Move on Charlotte Multifamily Property Atlanta & Southeast + Carolinas + Apartments | March 18, 2024 Daniel Corp. has acquired two parcels at 306 N. Graham St. and 420 W. Sixth St. in Uptown Charlotte that have been on the market for three years. The Atlanta Business Chronicle reports the developer paid $9 million for the two sites, which total 1.6 acres along North Graham Street between West Sixth and Seventh … 348-Room Westin Hotel Debuts in Gwinnett County Atlanta & Southeast + Atlanta + Hospitality | March 18, 2024 Concord Hospitality has added the finishing touches to the 348-room Westin Atlanta Gwinnett in Duluth, and will start accepting guests later this week. Some of the features included in the new hotel include a rooftop restaurant with three bars, a fitness studio with an indoor saltwater pool and easy access to a nearby convention center. … Latest Boston & New England Stories Workbar to Add Two Locations via $1.2M Raise Boston & New England + Boston + Office | March 18, 2024 Workbar LLC, the third-largest coworking space provider in Massachusetts, is poised for further expansion following a recent fundraising round, Boston Business Journal reported. With approximately 5,000 members, Workbar plans to launch two new locations within the next 12 to 18 months, in addition to its upcoming Worcester space set to open in September. These new spaces, labeled … New Restaurant, Bar to Open at The InterContinental Boston & New England + Boston + Hospitality | March 18, 2024 After 18 years, Boston’s InterContinental hotel is revamping its dining scene. Miel and RumBa Bar are making way for Matria and Bar Fellini, set to debut in mid-May. Miel’s French cuisine and RumBa’s Caribbean vibe will be replaced by an Italian steakhouse, Matria, and Bar Fellini. The latter retains RumBa’s circular bar but adds … Connect TeamJohn HalloranVice President of Creative & MarketingSarah QuinnCo-Founder & Vice 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 BakerHostetler Relocates LA Office to Century City California + Los Angeles + Office | March 18, 2024 Law firm BakerHostetler has relocated its Los Angeles office to 1900 Ave. of the Stars in Century City. Spanning nearly 40,000 square feet, the new office is situated in the Anderson Towers complex, consisting of two sister buildings on a five-acre pad. Owned by Anderson Real Estate, the campus and buildings are being redeveloped as part … Restaurateur Tony Monaco to Open Second Location at Irvine’s Eighteen Main California + Orange County + Hospitality | March 18, 2024 Restaurateur Tony Monaco will open his second Eighteen Main eatery, Monaco Italian Kitchen + Bar, later this year. The new location will be part of EMMES Realty Services of California LLC and Oaktree Capital Management, L.P.’s development at Centerview, an office property, and its adjacent restaurant development Eighteen Main, both located in the Irvine Concourse. Monaco … Latest Chicago & Midwest Stories South Loop Apartment Tower Sells for $144M Chicago & Midwest + Downtown + Apartments | March 18, 2024 San Francisco-based FPA Multifamily bought the 47-story Paragon apartment tower in the South Loop for $144 million earlier this month, the largest Chicago apartment deal in 2024 so far, reported Crain’s. The 500-unit building located at 1326 South Michigan Avenue was completed in 2019 by CIM Group and Chicago investor John Murphy. Newmark’s Chuck Johanns, … Pritzker Announces $900M Plan to Rebuild Two Prisons Chicago & Midwest + Illinois + Industrial | March 18, 2024 The state of Illinois plans to spend between $805 million and $935 million over the next three to five years to demolish and rebuild two prisons, including the historic Stateville Correctional Center. Governor JB Pritzker announced the funding that will support projects to rebuild Logan Correctional Center in downstate Lincoln and in Stateville, about 40 … Latest Florida & Gulf Coast Stories Developers Snag $59M Construction Loan for Coral Gables Apartments Florida & Gulf Coast + South Florida + Apartments | March 18, 2024 A developer is tearing down some old apartments, to build some new ones. A development group led by Erwin and Issac Sredni has snagged a construction loan and is moving ahead on a 145-unit apartment complex in Coral Gables. City National Bank of Florida provided the $59 million loan. The apartments would go up in … 320-Unit Rental Community Slated for Royal Palm Beach Florida & Gulf Coast + South Florida + Apartments | March 18, 2024 FCI Residential has started work on a 320-unit apartment complex in the sprawling 200-acre Tuttle Royale mixed-use development in Royal Palm Beach. The Miami Business Journal reports FCI broke ground after obtaining a $55.65 million construction loan. PNC Bank provided the mortgage to FCI Residential. It covers 30 acres. The developer acquired the property for $14.4 million … Latest Global Stories Avison Young Halves Financial Obligations, Secures New Capital for Continued Growth National + Global + Finance | February 26, 2024 Avison Young said Monday it has agreed to a comprehensive deleveraging transaction with its current financial partners that positions the company for the future. Through the transaction, Avison Young has reduced its financial obligations by more than half and has secured additional capital to advance its strategic goals. The Toronto-based real estate services firm entered … JLL Names Cynthia Kantor to Lead Project and Development Services National + Global + Office | February 12, 2024 JLL has appointed Cynthia Kantor CEO of Project and Development Services (PDS), a newly created position. Based in Atlanta, Kantor now leads the full spectrum of PDS services globally, including managing the construction, development, design and branding of commercial real estate projects. “There are many enduring trends shaping the evolution of the built environment, and the needs of … Latest Lenders Stories Latest National Stories Trepp: More Properties Selling at a Loss National + Office | March 18, 2024 Commercial property prices declined last year by 5.3%, according to the Trepp Property Price Index, while the rate of properties selling at a loss increased. Prices dropped by 0.82% from the third quarter of 2023 and are now 7% lower than they were at their peak in Q1 of 2022, or roughly where they were in Q3 … Greg May and Newmark Part Ways California + National + Office | March 16, 2024 (Updated with additional information) Greg May, West Region market leader for Newmark, has been let go from the company, Connect CRE has learned. Succeeding him will be Nick DiPaolo, market leader for Newmark’s Los Angeles region. The news was confirmed to Connect CRE. A source told Connect CRE that no cutbacks were involved, as Connect … Latest New York & Tri-State Stories Manhattan, BK Rents Hit Records High in Feb New York & Tri-State + Outer + Apartments | March 18, 2024 New York City’s apartment rental market continues to surge, with both Manhattan and Brooklyn seeing record-high median rents in February, according to a report from Douglas Elliman. Manhattan’s median rent reached $4,290, up 2 percent from January and 3.3 percent year-over-year, while Brooklyn’s hit $3,499, remaining flat from the previous month but rising 3 percent … C&W Arranges 175K SF of Leases at 277 Park Avenue New York & Tri-State + Midtown New York + Office | March 18, 2024 Cushman & Wakefield, alongside The Stahl Organization, brokered six leases totaling 175,000 square feet at 277 Park Avenue in Midtown. Cushman & Wakefield’s Mark P. Boisi, Bryan Boisi and Stephen Bellwood represented The Stahl Organization in the transactions. Sumitomo Corporation of the Americas secured 50,000 square feet on the 15th floor, while Sumitomo Mitsui Banking … Latest Phoenix & Southwest Stories Newmark’s Chris Canter Previews Panel Discussion for Upcoming Phoenix Multifamily & Single-Family BTR Conference Phoenix & Southwest + Phoenix + Apartments | March 18, 2024 Newmark’s Chris Canter will be moderating a panel at the upcoming Phoenix Multifamily & Single-Family Build-to-Rent conference at the Westin Kierland Resort & Spa on April 18. Chris is a 13+ year veteran of the commercial real estate industry. He has been involved in the acquisition and disposition of over $2 billion in multifamily transactions totaling … Bright Green Spending $250M on NM Pharma Plant Facility Phoenix & Southwest + New Mexico + Industrial | March 18, 2024 Bright Green Corporation signed an agreement with Dalsem Greenhouse Technologies BV for a $250 million construction project to expand the Company’s current research, production and extraction processing facility located in rural Grants, New Mexico. Bright Green is a licensed manufacturer of plant-based drugs and Active Pharmaceutical Ingredients (APIs) in the U.S. The proposed expansion will … Latest Seattle & Northwest Stories CBRE Hires New Retail Duo in Seattle Seattle & Northwest + Seattle + Retail | March 18, 2024 CBRE announced that Yohar Renaud and Kyle Herting have joined its retail practice in Seattle. Renaud and Herting both join as Vice Presidents and specialize in retail leasing across Washington, Oregon and Idaho. Renaud has worked with retailers for nearly a decade to expand across the Pacific Northwest. Prior to CBRE, he was senior vice … Seattle Mayor Proposes Incentive for Office Conversions Seattle & Northwest + Seattle + Office | March 18, 2024 Amid the ongoing housing crisis and the threat of loss of tax revenue, Seattle Mayor Bruce Harrell is pushing to make it easier for property owners to convert commercial buildings for residential use. As part of his Downtown Activation Plan, Mayor Bruce Harrell has submitted new legislation to the City Council aimed at removing regulatory … Latest Texas Stories Pleasanton Working on Mixed-Use Central Hub Texas + San Antonio + Apartments | March 18, 2024 Growth in Texas is not just the domain of the major cities. Even small towns are feeling growing pains. The city of Pleasanton is redeveloping its downtown to accommodate booming population growth. The town has nearly 10,000 people. The town, 35 minutes south of San Antonio, is converting its old high school gym into an … Kairoi Platting Major Austin Mixed-Use Center Texas + Austin + Apartments | March 18, 2024 Kairoi Residential has big plans for more than 100 acres along what is now an open-air industrial storage yard between US 183 and The Colorado River. The Austin Business Journal reports blueprints for the huge project include more than 2,200 multifamily units, a 385-room hotel, nearly 1.5 million square feet of office space, more than … Latest Washington DC Stories C&W Arranges 23K-SF Lease Extension for TF Cornerstone Washington DC + DC Metro + Finance | March 18, 2024 Cushman & Wakefield facilitated a 23,000-square-foot lease extension at 1881 Campus Commons in Reston, VA, for landlord TF Cornerstone. The tenant, Quadrant, Inc., will continue to operate its global headquarters there. The Cushman & Wakefield team, led by Tom Walsh, Matt Bundy, Paige Barger, and Chloe Eyring, represented TF Cornerstone, while Dan Falls of … Small Door Vet Opens 1st Practice in Maryland Washington DC + Maryland + | March 18, 2024 Small Door Inc., operating under the Small Door Veterinary brand, inaugurated its first Maryland location in Bethesda, situated at 10253 Old Georgetown Rd in the Wildwood Shopping Center. This marks the fourth Small Door facility in the DMV region. Small Door provides veterinary experience with its membership-based model, priced at $169 per pet annually. … Latest Stories FromMidCap Advisors Hires Paul Kanarek as VP, EducationDirect Investment | March 18, 2024MidCap Advisors, a NY-based M&A advisory firm to private companies, has hired Paul Kanarek as vice president of education. Kanarek brings more than four decades of experience in the areas of strategy, M&A, investor relations and communications. Leveraging his experience assisting global education companies to go public as well as privately refinance, he will lead ...City of Austin Commits $90M to 1st Direct Lending FundAlternative Assets | March 18, 2024The City of Austin Employees’ Retirement System, which oversees $3 billion in assets, hired its first private credit fund with a $90 million commitment. The pension fund is slated to invest 1% to 3% of assets in private credit/direct lending. Initially, the investment is to be classified as fixed income – investment grade credit under ...AS Birch Grove Expands Senior Team with Goldman AlumAlternative Assets | March 18, 2024AS Birch Grove, an alternative investment manager focused on corporate credit opportunities in North America and Europe, appointed Todd Duker as managing director as interest in the collateralized loan obligation (CLO) market continues to rise. Duker brings nearly two decades of experience in structured products and CLOs. He was most recently a senior member of ...Ballistic Blasts Past Target with $360M RaiseAlternative Assets | March 18, 2024Ballistic Ventures, a San Francisco-based firm focused on early-stage cybersecurity and cyber-related companies, closed its oversubscribed $360 million second fund aimed to “fuel the next generation of cybersecurity innovation.” Since the firm’s launch in 2022 and the close of its $300 million maiden fund, it has now invested in 18 companies addressing challenges such as ...