After a difficult 2020 for office leasing fundamentals in Boston, CBRE has released research pointing to a rosier 2021. With the successful rollout of vaccines and the relaxing of COVID-restrictions, many occupiers in Boston are eyeing the end of the summer as a goal to have employees return to the office, according to CBRE. Even …
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Boston-based mortgage banking firm Fantini & Gorga has secured $5.2 million in permanent financing for a 31-unit multifamily property in the Harvard Square area of Cambridge. Located at 1558 Massachusetts Ave., the five-story building was originally constructed in the 1920s and is directly across the street from Harvard Law School. The loan, which was provided …
Full-service real estate development, investment and management company Hill Management Services has promoted Danielle Bridge to leasing manager in Baltimore. Bridge has worked with the company since 2016 starting in the tenant improvement, project coordination and property management group before transitioning to the leasing department as Leasing Representative. In her new role, Bridge will manage …
WashREIT has agreed to sell a 2.3 million-square-foot office portfolio to a Brookfield Asset Management private real estate fund for an aggregate purchase price of $766 million. Located in the Washington, D.C. metro area, the portfolio consists of 12 properties. Six properties are located in Northern Virginia and six are located in Washington D.C. As …
JLL has arranged the $14.4 million sale of a single-tenant retail property occupied by Sprouts Farmers Market in Estero, FL. Michael Brewster, Brad Peterson and Tommy Isola of JLL represented the seller, GBT Realty, in the transaction. A private investor acquired the property. Sprouts Farmers Market is located at 19990 S. Tamiami Trail in the …
Berkadia has arranged $58.7 million in refinancing for Advenir at San Tropez, a 480-unit community in Pembroke Pines. Built in 1975, Advenir at San Tropez is located at 7840 NW 3rd St. One- and two-bedroom units range from 625 to 850 square feet. The community features an array of amenities including laundry facilities, BBQ and …
Newmark has arranged the $16.5 million sale of Lafayette Place, a 366-bed student housing community in Oxford, MISS. Located at 1711 Anderson Road, the community serves the University of Mississippi (Ole Miss). Lafayette Place’s amenities include an updated clubhouse, a resort-style saltwater pool, an outdoor grilling area, a beach volleyball court, a 24-hour computer lab …
There’s no disputing that the pandemic disrupted life in gateway markets across the globe. The effects on housing markets have varied, though, across markets and between the rental and ownership sectors. Rents fell in 18 out of 27 markets in Cushman & Wakefield’s global survey, which encompassed cities ranging from New York City and Hong …
As a marker of the strength of the economic recovery as the U.S. emerges from the pandemic, consider the rebounding “quit rate,” i.e. the rate of voluntary resignations. While the quit rate fell to near-record lows in 2020 as workers postponed career moves, the data suggest that a surge in turnover is already beginning to …
Flooding is the most expensive and common natural disaster in the U.S., and managing flood risk is critical to protecting homes, local and regional economies, and community well-being. Faced with this potential crisis, local governments increasingly turn to buyouts as one strategy to cost effectively reduce flood risk, offer relief to residents and potentially improve access to open space …
Although it may seem counterintuitive, more in-person work environments and the concentration of jobs in cities could be a medium- to long-term impact of the pandemic’s shift to remote working. That’s among the key findings of Citi GPS Technology at Work: The Coming of the Post-Production Society, a report produced by Citi and the Oxford Martin …
Lincoln Property Company has broken ground on Echo Street West, a 19-acre mixed-use village rising in Atlanta’s English Avenue neighborhood. The 19-acre project is located in an Opportunity Zone and is expected to bring jobs, housing, retail and community amenities to the area. When completed, Echo Street West will span 2.4 million square feet of …
Commercial/multifamily mortgage debt outstanding rose by $44.6 billion (1.1%) in the first quarter, with multifamily accounting for the lion’s share of the increase, according to the Mortgage Bankers Association (MBA). The total stood at $3.93 trillion at the end of Q1. “The pandemic-era growth in the amount of commercial and multifamily mortgage debt outstanding continued …
JPMorgan Chase on Thursday announced a new $150-million, five-year commitment in philanthropic capital and low-cost loans to Chicago’s South and West sides. It’s part of the firm’s $30-billion national commitment to advance racial equity. “Business has a responsibility to help solve challenges facing the customers and communities it serves, and that includes addressing longstanding racial and economic …
Bridge Investment Group LLC said Thursday it had launched Bridge Logistics Properties. The new platform aims to seek price dislocation, operational upside and innovative redevelopment in markets where there is a confluence of existing and increasing population density, rapid e-commerce adoption, and constrained supply. To lead the new strategy, Bridge has appointed two New York …
Waterton has hired industry veteran Aaron Sheppard as VP of capital programs. He’ll oversee construction execution and development for Pathway to Living, the seniors housing arm of the Chicago-based firm. Sheppard will be responsible for the oversight of the capital program teams for all Pathway to Living renovation projects and serve as a resource for regional managers, asset …
Petros PACE Finance, LLC, the Austin-based provider of Commercial Property Assessed Clean Energy (C-PACE) financing, closed an $89-million transaction for 111 Wall St. in the first C-PACE deal completed within New York City’s recently launched program. The funding is also the largest single C-PACE transaction to date. “It wasn’t an easy lift but we got the transaction done without …
Rising rent costs and real estate prices in the Puget Sound region have made transit-oriented development an impactful solution for connecting communities to jobs, services and resources. Transit-oriented affordable housing development also helps promote local community and economic development, environmental sustainability, and reduces commute times, expenses and environmental impacts. Sound Transit, a Central Puget Sound …
A three-building office and industrial property at the Price Road Corridor in Chandler recently sold to EQ Exeter Property Group for an undisclosed price. EQ Exeter Property Group plans to reposition the existing buildings. Located at 1890 and 1900 South Price and 3200 West Germann roads, the 241,676-square-foot property is positioned within the Price Road …
Gov. Gavin Newsom recently signed Senate Bill 1157 into law, which requires multifamily landlords to offer residents the option of having rental payments reported to a major credit reporting agency. The bill goes into effect July 1, 2021, and it will apply to rental housing developments with five or more units that receive certain types …
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