Inland Private Capital Blazes a Trail in Tax-Oriented CRE Investing Cover Story | March 6, 2024 CIM Trades DC-Area Apartments for $225M National + Apartments | March 29, 2024 MBA Blasts Plan to Impose Rent Control on LIHTC Properties National + Apartments | March 29, 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.com501 Hayes StreetSan Francisco, CACalifornia & West + Mixed-UseListing Status:AvailableListing Type:Highest & best offerPrice:$11,000,000No. of Units:18Year Built:1900Building Size:15690 Sq ftLot Size:4795 AcresAPN:0818-001Zoning Code:NCTOpportunity Zone:NoPrice per unit:$611,111Learn More212 East 29th StreetNew York, NYNew York & Tri-State + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$11,950,000No. of Units:15Average Occupancy:5.83Year Built:1920Lot Size:2469 AcresOpportunity Zone:NoPrice per unit:$796,666Learn MoreHidden Court ApartmentsPhoenix , AZPhoenix & Southwest + Low-RiseListing Status:AvailableListing Type:Highest & best offerPrice:$2,840,000No. of Units:9APN:161-27-030EZoning Code:R-3Opportunity Zone:NoPrice per unit:$315,555Learn 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 Sprawling Movie Studio Slated for S. Georgia Atlanta & Southeast + Georgia + Hospitality | March 29, 2024 Pigmental Studio is no startup. The studio has produced “Kong,” “Despicable Me,” and “The Klaus”. The company is planning a 117-acre media campus in coastal Georgia, just north of the Florida state line. Pigmental Studios says the project would include 18 sound stages and a mixed-use project. The complex would come to St. Marys, near … TruAmerica Picks Up $50M Asheville Asset Atlanta & Southeast + Carolinas + Apartments | March 29, 2024 TruAmerica Multifamily acquired Westmont Commons, a 252-unit multifamily community in Asheville, NC. The asset was purchased off-market for $49,875,000 in partnership with Spoke Real Estate Capital. The seller was undisclosed. TruAmerica Multifamily’s Bob Hart added, “We expect to deliver an upgraded community to the market to meet demand for workforce housing that will be achieved … Latest Boston & New England Stories Boston Mayor Looks to Increase CRE Taxes Cap Boston & New England + Boston + Finance | March 29, 2024 Boston Mayor Michelle Wu seeks authority to shift more tax burden to commercial real estate owners to prevent a spike in residential tax bills, Boston Business Journal reported. Wu’s legislation, to be filed next week, aims to offset potential declines in commercial property values due to hybrid work. The proposal, if adopted, would allow Boston to exceed … Synergy Buys 406K-SF Boston Office Tower for $76M Boston & New England + Boston + Office | March 29, 2024 Synergy has acquired 101 Arch Street, a 21-story, 406,928-square-foot office tower in Downtown Boston for $76 million. Renovated in 2020 by CBT Architects, the building offers a 20,000-square-foot lobby, a conference center, a tenant lounge, and a fitness center. Currently 82% leased with 34 tenants, including Rockland Trust and KP Law. The deal was brokered … Connect TeamDennis KaiserVice President, Public Relations & CommunicationsPaul BubnySenior Content DirectorSarah QuinnCo-Founder & Vice PresidentView 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 Kidder Mathews Adds Valuation Specialist Eric Cross California + Los Angeles + Finance | March 29, 2024 Kidder Mathews has added valuation advisory specialist Eric Cross, MAI as an SVP in Downtown Los Angeles. For more than 20 years, he has focused on valuation assignments in Los Angeles, Orange, Riverside, San Diego, San Bernardino and Ventura counties and also has extensive experience in the Central Valley, including Sacramento. Cross began his commercial real estate … Kennedy Wilson Lends $95M on Santa Clarita Apartment/BTR Project California + Los Angeles + Finance | March 29, 2024 Kennedy Wilson’s debt platform provided a $95-million senior construction loan to a joint venture between Greystar Real Estate Partners and The Resmark Cos. The funds will go toward development of a multifamily and build-to-rent project within the mixed-use, master-planned Sand Canyon Plaza in Santa Clarita. The community will feature 259 rentable multifamily units and 64 … Latest Chicago & Midwest Stories Echo Global Logistics Moves Into Former Groupon Building Chicago & Midwest + Downtown + Office | March 29, 2024 Echo Global Logistics, Inc., a provider of technology-enabled transportation and supply chain management services, has completed its extensive buildout of the company’s new headquarters at the former Groupon building at 600 W. Chicago. Echo is now the second largest tenant in the building and new signs with the company’s logo have been installed on the … University of Michigan Plans Expansion at Former Kmart HQ Site Chicago & Midwest + Midwest + Healthcare | March 29, 2024 The University of Michigan Health system has purchased the site of the former Kmart headquarters in Troy with plans for a multi-specialty facility. The move to buy a portion of the vacant land is part of U-M Health’s plan to expand its footprint into Metro Detroit. The newly acquired land has sat vacant since 2006, … Latest Florida & Gulf Coast Stories Property Markets Group to Redevelop Tampa Housing Project Florida & Gulf Coast + Central Florida + Apartments | March 29, 2024 Property Markets Group is looking to change the zoning at Robles Park Village, one of Tampa’s oldest affordable housing projects, to allow a mixed-use district. The group is working with the Tampa Housing Authority, which owns the 30 acres where Robles Park Village site. Built in 1954, Robles Park currently has 436 affordable units on … Florida Investor Converting Hotel to Apartments Florida & Gulf Coast + Central Florida + Apartments | March 29, 2024 A national investor is asking Orange County for a rezoning, hoping to convert an extended-stay hotel across from the Florida Mall into apartments. The Orlando Business Journal reports Sage Investment Group would transform the Stayable Suites at 8700 S. Orange Blossom Trail into 206 multifamily units, as well as add 5,000 square feet of retail … Latest Global Stories AFIRE Survey Ranks LA, DC as Top U.S. Markets for CRE Investment National + Global + Finance | March 27, 2024 Los Angeles, Washington, DC, Seattle, Dallas and New York City are the top U.S. cities for investment in 2024, according to the latest AFIRE International Investor Survey. That being said, if given the option of investing with “fresh books” in a city, the largest number of global investors selected Charlotte as a priority market, followed by … 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 … Latest Lenders Stories Latest National Stories CIM Trades DC-Area Apartments for $225M National + Apartments | March 29, 2024 CIM Group said Friday it had sold Mason at Van Dorn, a 1,180-unit apartment community in Alexandria, VA. The Washington Business Journal reported the sale to a partnership of Shoreham Capital and Bridge Investment Group Holdings at $225 million. CIM acquired the community in December 2017. Over the course of its six-year ownership and management, … MBA Blasts Plan to Impose Rent Control on LIHTC Properties National + Apartments | March 29, 2024 Ahead of new regulations expected to be announced on Monday, the Mortgage Bankers Association (MBA) on Friday stated its opposition to the Biden administration’s plan to impose a 10% limit on annual rent hikes at properties supported by the Low-Income Housing Tax Credit (LIHTC). In a statement, MBA president and CEO Bob Broeksmit said, “Now … Latest New York & Tri-State Stories Major League Soccer Relocates to Penn 2 with 126K-SF Lease New York & Tri-State + Midtown New York + Office | March 29, 2024 Major League Soccer (MLS) is set to expand its operations by moving to Vornado Realty Trust’s Penn 2 building, doubling its office space footprint. The league will relocate from its current 64,200-square-foot space at 420 Fifth Avenue to 126,000 square feet across two floors in the Penn District building. The move comes as the … GDS, Sabal Acquire Controlling Stake of Metropolitan Tower for $83M New York & Tri-State + Midtown New York + Office | March 29, 2024 GDS Development Management and Sabal Investment Holdings have acquired a controlling stake in the office portion of Manhattan’s Metropolitan Tower at 146 West 57th Street for $82.6 million. The deal, which was finalized in March, follows their joint venture with German lender Aareal Group to acquire the distressed debt tied to the Plaza District tower … Latest Phoenix & Southwest Stories Berkadia Secures $81M in Funding for Denver Multifamily Venture Phoenix & Southwest + Southwest + Apartments | March 29, 2024 Berkadia announced today that it has arranged $81.23 million in joint venture equity for Alexan Pena Station, a to-be-built, 578-unit multifamily development in Denver, Colorado. Alexan Pena Station, located on the northeast side of Denver, will be built over two phases and spread out over 12 buildings with an average unit size of 976 square feet. Community … Kohler Lands Clean Energy Grant at $300M Casa Grande Plant Phoenix & Southwest + Arizona + Industrial | March 29, 2024 Kohler Co. has secured a $51.2 million federal grant designed to limit its carbon footprint at its Casa Grande manufacturing site. With the grant, Kohler plans to: replace natural gas boilers with electric boilers, install a 21MW solar array microgrid, utilize long-duration energy storage (LDES) batteries with 68MWh of storage, and install 12MW of HVO-capable KOHLER industrial … Latest Seattle & Northwest Stories TCC Tops Out Multi-Story Port of Seattle Warehouse Seattle & Northwest + Seattle + Industrial | March 29, 2024 Trammell Crow Company (TCC), and JV partner MetLife Investment Management, topped out construction of a two-story industrial facility near the Port of Seattle. Located at 44 S Nevada Street, the facility, known as Seattle Metro Logistics, will deliver 702,429 rentable square feet of Class A industrial space in August 2024, making it the largest industrial … Seattle Housing Authority Buys Waterfront Office for $39M Seattle & Northwest + Seattle + Office | March 29, 2024 The Seattle Housing Authority (SHA) is making two acquisitions in Seattle, including an apartment building in the Central District and a new Central Office in the Interbay/Lower Queen Anne area. SHA acquired the office building, which will be its new headquarters, for $39.5 million. The five-story waterfront property is located at 101 Elliott Avenue. near … Latest Texas Stories QTS Eyeing $150M Irving Data Center Expansion Texas + Dallas-Fort Worth + Industrial | March 29, 2024 QTS Realty Trust may add a two-story data center spanning 210,755 to its 55-acre campus at 6300 Longhorn Dr. in Irving. A public filing lists construction costs of the new building, designated DC6, at $152 million with a start date in August. Data centers are not large job creators, but due to the high cost … Georgetown to Debut 3rd H-E-B Supermarket Texas + Austin + Retail | March 29, 2024 Tell me if you’ve heard this before. Georgetown is the fastest-growing town in the country over 50,000 people. And it just follows that it’s landed another H-E-B supermarket, the gold standard in the State of Texas. It will be the town’s third H-E-B market. The Austin Business Journal reports the latest store will anchor Barshop … Latest Washington DC Stories Boutique Office Building in DC Trades for $95M Washington DC + DC + Office | March 29, 2024 JLL Capital Markets facilitated the $95 million sale of 1099 New York Avenue, NW, an office building near the White House in Washington, DC. JLL represented the seller and procured the buyer, a joint venture between affiliates of Quadrangle Development Corporation and FarmView Ventures. The 180,878-square-foot, 11-story property features floor-to-ceiling windows, large floor plates, … Northmarq Arranges $158M Refi for Richmond MXU Washington DC + DC Metro + Finance | March 29, 2024 Northmarq’s Debt + Equity team in Richmond, consisting of Mike Lowry, Keith Wells, Win Martin, and Jason KaplanÅ, secured approximately $158 million in financing for a portfolio of 76 office, retail, and industrial properties in Richmond, VA. The financing was arranged on behalf of the borrower, The Wilton Companies. The transaction involved refinancing $130 million … Latest Stories FromEaglebrook, Franklin Templeton Launch Bitcoin/Ethereum SMAAlternative Assets | March 29, 2024Eaglebrook, a crypto investment platform that provides RIAs with direct access to bitcoin and digital assets, has partnered with Franklin Tempelton to launch the Franklin Templeton Digital Asset Dynamic BTC/ETH separately managed account (SMA) strategy. The strategy, which is designed for RIAs and U.S.-based wealth managers, is available on Eaglebrook’s Digital Asset SMA Platform. Unlike ...Citco Rolls Out “AI Plus Human” PlatformAlternative Assets | March 29, 2024Citco has introduced an “AI plus Human” platform to provide fund managers and allocators with fully managed document management services. Citco Document Intelligence (CDI) integrates artificial intelligence (AI) with fund reporting expertise to read, organize, and transform documents into searchable information for fund managers, fund types, and asset owners. “Document management remains a painful process ...Women VC Managers Still Face Pay GapAlternative Assets | March 29, 2024Women still account for a small proportion of all managing general partners at venture companies, and their compensation continues to lag their male colleagues. However, things appear to be improving as women increasingly assume entry-level roles at venture firms and begin to out-earn their male counterparts, according to new study. Men continue to account for ...Data Center Asking Rents Skyrocket 54% in Eight Months: CBREAlternative Assets | March 29, 2024CBRE reports that average asking rent prices in major North American data center markets have experienced a significant increase of 20% to 54% in the past eight months. The expansion in markets such as Chicago, Dallas-Ft. Worth, Northern Virginia, Phoenix, and Silicon Valley is being propelled by robust demand that is exceeding the rise in ...