Philadelphia
Rite Aid Files for Chapter 11 Bankruptcy
Drugstore chain operator Rite Aid Corporation has filed for Chapter 11 bankruptcy. The Philadelphia-based company has reached a restructuring agreement with… Read more
Post Brothers Scores $312M Refi on Philadelphia Mixed-Use
Real estate development and investment firm Post Brothers has completed the refinancing of the first phase of its flagship mixed-use… Read more
Return to Lender: Week of Sept. 21, 2023
As part of our expanded coverage of distressed assets, Connect CRE is introducing a new weekly feature, “Return to Lender.”… Read more
SIORs on Industrial’s Challenges: Costs and Availabilities
For both industrial real estate owners and tenants, managing costs is top of mind in the current market, while for… Read more
Steinbridge Activates $1.3B Impact Strategy With $50M Seed Venture
The Steinbridge Group has partnered with the FrontRange Co-GP Property Fund, an affiliate of FrontRange Capital Partners, in a $50… Read more
Sentral Grows Management Portfolio by Two LA Properties and One in Philly
Sentral, a full-building residential hospitality operator, said Tuesday it will manage two new luxury residential communities in Los Angeles: Figueroa… Read more
CMBS Distress Rate Rises for Top 20 SMSAs
The distress rate for CMBS loans across the 20 largest markets in August was 7.2%, slightly above the national CMBS… Read more
IPA: New Apartment Construction Volume Dwindles
Construction starts in multifamily are tapering off as would-be developers face diminishing access to capital and slowing rent growth, according… Read more
Commanders’ New Ownership a Done Deal; New Stadium a Question Mark
Josh Harris’ $6.05-billion deal for the Washington Commanders has been ratified by NFL owners. With the new ownership will come… Read more
Mindspace Opens First NYC Location at 25 Kent
Global flexible workspace provider Mindspace has opened its first New York location at 25 Kent, a mixed-use office, retail and light manufacturing… Read more
Philly-Area Industrial Portfolio Trades for $195M
Three years after acquiring it amid the pandemic, Wharton Industrial, a platform company of New York City-based Wharton Equity Partners,… Read more
Alterra Acquires East Bay Industrial Outdoor Storage Properties
(Updated with additional information) Alterra Property Group has acquired a pair of East Bay industrial outdoor storage (IOS) properties for… Read more
Affinius Capital Provides $180M Construction Loan for NJ Logistics Center
Affinius Capital has provided a $180 million loan to finance the development of the Garden State Logistics Center in Pennsville… Read more
Report: Increasing Office Sublet Space Could Add Challenges to Upcoming Maturities
The office sector continues to take a beating, as indicated by higher vacancies and flight to quality. Then there is… Read more
CBRE: Boston/Cambridge Remains Top Market for Life Sciences Research Talent
Boston and Cambridge remain the top markets for life sciences research talent in the United States, according to a recent… Read more
Blackstone’s Club Quarters Chicago Appears Headed for Foreclosure
The 429-key Club Quarters Chicago hotel in the Central Loop appears headed to foreclosure after negotiations stalled on a delinquent… Read more
Chinese E-Bike Company Expands to Elkton with New Industrial Lease
MetalRays, an electric bike manufacturer and distributor based in China, has signed a lease with McConnell Development for a 109,192… Read more