LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Industry Coalition Urges Congress, Biden to Promote Affordability National + Apartments | April 30, 2024 LightBox CRE Activity Index Records Modest Uptick for Q1 National + Finance | May 1, 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.comMOD at Riverwalk IIReno, NVPhoenix & Southwest + Apartment BuildingsListing Status:AvailableListing Type:Call for offersNo. of Units:69Year Built:2022Building Size:79443 Sq ftLot Size:0.787 AcresNo. of Stories:5APN:011-025-10Zoning Code:MD-PDOpportunity Zone:NoLearn More1132 W Duarte RdArcadia, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$9,250,000No. of Units:20Cap Rate:4.07GRM/GIM:16.67Average Occupancy:100Year Built:1962Building Size:19432 Sq ftLot Size:30379 AcresNo. of Stories:2APN:5382-001-043Zoning Code:R3No. of Parking Spots:30Opportunity Zone:NoBuy Side Fee:$2Price per unit:$462,500Learn MoreRTI – Build 21 Units in Palms by Culver CityLos Angeles, CACalifornia & West + Land/DevelopmentListing Status:AvailableListing Type:Highest & best offerPrice:$2,695,000No. of Units:21Opportunity Zone:NoPrice per unit:$128,333Learn 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 Rock Lititz Building Nashville Entertainment Campus Atlanta & Southeast + Southeast + Hospitality | May 1, 2024 Rock Lititz is building a facility near Nashville that will include rehearsal studios, offices and seating for live entertainment. It will also include 13 rehearsal spaces to accommodate a variety of more intimate-sized performance venues. The 500,000-square-foot campus, to be called Rock Nashville, is set to be completed by the fall of 2025. It broke … Walmart Closing 17 Georgia Health Centers Atlanta & Southeast + Georgia + Healthcare | May 1, 2024 Just two weeks ago, Walmart touted that it was opening dozens of new Walmart Health centers. The company has now announced that it will shutter all of them. In a release, the company said, “We determined there is not a sustainable business model for us to continue.” The company opened its first one in 2019 … Latest Boston & New England Stories JLL Arranges Development Capitalization for Wakefield MF Community Boston & New England + Metro Boston + Finance | May 1, 2024 JLL Capital Markets has arranged capitalization for 200 Quannapowitt, a 440-unit transit-oriented multifaminy community in Wakefield, Massachusetts, on Lake Quannapowitt. Terms of the deal were not disclosed. Working on behalf of developer Cabot, Cabot & Forbes, JLL secured joint venture equity with Equity Residential with a team led by Brett Paulsrud, Andrew Gray and Mike Shepard. Situated along I-95 … Donald Lussier Returns to Saul Ewing’s Boston Office Boston & New England + Boston + Finance | May 1, 2024 Donald Lussier, a real estate attorney with over 30 years of experience in real estate, corporate, and commercial lending transactions, has rejoined Saul Ewing LLP after a period with another firm. Based in the firm’s Boston office, he represents sponsors, investors, and lenders in various real estate matters, including acquisitions, leasing, financings, and dispositions, across a … Connect TeamView 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 California Population Grew in 2023, Ending Three Years of Losses California + Finance | May 1, 2024 California’s population increased by 67,000 people last year to 39,128,162, according to data from the California Department of Finance (DOF). 2023 represents the first year since 2020 that the state has seen a net increase. DOF cited an improvement of federal legal immigration processing backlogs, rebounding legal immigration levels – not including people seeking asylum … West Hollywood’s Abbey Nightspots Trade for $27M California + Los Angeles + Hospitality | April 30, 2024 Marcus & Millichap closed today the $27-million sale of The Abbey Food & Bar and The Chapel at The Abbey in West Hollywood. The firm’s Brandon Michaels, senior managing director investments, and first VP investments Matthew Luchs represented the seller, David Cooley, and procured the buyer, Tristan Schukraft. “An agreement was reached with both parties in November 2023 and … Latest Chicago & Midwest Stories TCC Unveils Plans for Fulton Park Life-Sciences Campus in Chicago Chicago & Midwest + Downtown + Office | April 30, 2024 Trammell Crow Company (TCC) has unveiled plans for its massive 2.5 million-square-foot life sciences and mixed-used project, Fulton Park Campus. TCC’s Fulton Park Campus will feature a combination of office, research-and-development lab space, green space and a new apartment complex. The developer is adding to its existing Fulton Labs buildings at 400 N Aberdeen and … IL Pledges $30M to Revitalize Commercial Corridors, Spur Economic Development Chicago & Midwest + Illinois + Office | April 30, 2024 Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) have launched $30 million in funding to accelerate economic growth and community revitalization. The Rebuild Illinois Downtowns and Main Streets Capital program will receive $20 million, and the Research in Illinois to Spur Economic Recovery program will receive $10 million. Both programs … Latest Florida & Gulf Coast Stories Related Spins Off Fort Lauderdale’s W Hotel Florida & Gulf Coast + South Florida + Hospitality | May 1, 2024 Related Cos., led by billionaire Miami Dolphins owner Stephen M. Ross, sold the W Fort Lauderdale hotel for a reported $97.65 million to an affiliate of Blackstone Real Estate Advisors. That price comes out to $282,000 a room. Another report put the sales price at $150 million. The S. Florida Business Journal reports the price … Kolter Urban Inks $182M Construction Loan for St. Pete Condos Florida & Gulf Coast + Central Florida + Apartments | May 1, 2024 Kolter Urban has secured a $182 million construction loan from Bank OZK for the construction of Art House St. Petersburg at 330 Beach Dr. NE. The 42-story project’s construction has reached the halfway mark with anticipated delivery slated for 2025. There are 244 residences, priced from $1 million. Designed by the SB Architects, floor plans … Latest Global Stories Navigating the CRE Landscape: One Organization is Transforming its Approach National + Global + Industrial | April 23, 2024 Sweeping changes have spread across the globe in unprecedented waves over the last four years, and the ripples have affected all aspects of our world and business. Economies have been revamped, markets have been redefined, and entire industries have been rewritten. Those that didn’t adjust likely got left behind, while entities that anticipated and embraced … Global Office Landlords See Uptick in Lease Renewals National + Global + Office | April 9, 2024 More than 80% of global office landlords are seeing an uptick in lease renewals thanks in part to their emphasis on creating elevated workplace experiences, according to the fifth annual VTS Global Landlord Report. Just 41% of landlords are prioritizing lease-up of vacant space. VTS said 57% of landlords surveyed prioritize the retention of current tenants, with … Latest Lenders Stories Latest National Stories LightBox CRE Activity Index Records Modest Uptick for Q1 National + Finance | May 1, 2024 LightBox said its first-quarter CRE Activity Index showed an increase of 13.4 points from the three-year low seen in Q4 2023. On a year-over-year basis, though, Q1 2024’s index of 78.7 was slightly weaker than the 81.3 reading in Q1 2023. “The uptick in the first quarter is confirmation that activity was increasing and a … BREAKING NEWS: FOMC Keeps Rates Unchanged, QT Taper to Begin in June National + Finance | May 1, 2024 The Federal Open Market Committee kept the federal funds rate in a target range of 5.25% to 5.5% on Wednesday, as widely expected, and gave no signal that it plans to lower it anytime soon. Policymakers have been on hold since they last raised interest rates in July 2023. “In recent months, there has been … Latest New York & Tri-State Stories Naftali Group Unveils 3.75-Acre Development Williamsburg Wharf New York & Tri-State + Outer + Apartments | May 1, 2024 Naftali Group and Access Industries have unveiled Williamsburg Wharf, a 3.75-acre development and resort-style destination on Williamsburg’s East River shoreline. Williamsburg Wharf will feature approximately 1 million square feet of residential, commercial, and retail space, including a waterfront park, with the first phase estimated to be completed by the end of 2025. Located at 464-484 Kent Avenue, … Global Consulting Firm Signs NJ Office Space New York & Tri-State + New Jersey + Office | May 1, 2024 Alfred Sanzari Enterprises has leased 3,429 square feet at Glenpointe Centre West in Teaneck, NJ, to MSG Risk Management & Insurance Consulting. The global consulting firm will relocate administrative offices to the ninth and tenth floors, joining tenants like Stop & Shop, Planet Fitness, and Petco. Alfred Sanzari Enterprises was represented by Newmark’s Jeff Schotz, Peter … Latest Phoenix & Southwest Stories LV Retail Center Owner Procures $22.65M Refi Phoenix & Southwest + Southwest + Retail | May 1, 2024 Agora Realty & Management has obtained a $22.65 million loan to refinance Fiesta Plaza, a 187,346 square foot grocery-anchored retail center in North Las Vegas. Mark McGovern, Brian Cruz, Morgon Fraser and Colby Matzke with CBRE Capital Markets’ Debt and Structured Finance team in San Diego secured the five-year, fixed-rate loan from a life insurance company. Tenants include La … 24th at Camelback Trades for $86.1M Phoenix & Southwest + Phoenix + Office | May 1, 2024 New York-based Columbus Properties paid $86.1 million for the 24th at Camelback office building in Phoenix. NY Life was the seller of the 308,000-square-foot Class A asset. They bought the property in 2018 for $100 million from Hines, the developer. Newmark represented NY Life in the deal, which Newmark says is the largest office deal … Latest Seattle & Northwest Stories ICG Expands Portfolio with Acquisition of Utah MF Seattle & Northwest + Seattle + Apartments | April 30, 2024 Investors Capital Group (ICG), a Seattle-based firm focused on multifamily real estate investments, has acquired the Desert Village Townhomes, in St. George, Utah, from CW Group for an undisclosed price above $50 million. This acquisition adds 184 units in the St. George submarket of Santa Clara, Utah, to ICG’s expanding portfolio. Desert Village will be … 108K-SF Industrial Property in Auburn Fetches $27M Seattle & Northwest + Seattle + Industrial | April 30, 2024 CenterPoint Properties has sold Pike Distribution Center, a 108,000-square-foot industrial property in Auburn, Washington, for $26.65 million. Kidder Mathews Executive Vice Presidents Kraig Heeter, SIOR and Mike Newton represented KRL Legacy, LLC., an entity of Ace Relocation System, Inc., in purchasing the property. CenterPoint was represented by Kidder Mathews Executive Vice President Matt Murray along … Latest Texas Stories Loan Assumption Keys SA Multifamily Deal Texas + San Antonio + Apartments | May 1, 2024 CREE Capital acquired the Regatta Apartment Homes, a 200-unit multifamily community located at 12635 Scarsdale St. in San Antonio. This sale was distinguished by its financing structure, in which the buyer assumed the existing loan. Bluebonnet Asset Management served as the seller. Northmarq’s San Antonio Multifamily Investment Sales team, led by Zar Haro facilitated the sale. Cheryl … Deep Ellum Wave-Riding Attraction to Open Soon Texas + Dallas-Fort Worth + Hospitality | May 1, 2024 It’s not the size of lagoons that have been gaining popularity in Texas, but it’s got better waves. Goodsurf, a venture from Urban Entertainment Concepts, is looking to open shortly. The 35,000-square-foot surf spot at 317 S. Second Ave. is on the east side of Deep Ellum near Fair Park. It’s expected to open in early to mid-June. … Latest Washington DC Stories JBG Smith to Close Three National Landing Offices Washington DC + | May 1, 2024 JBG Smith Properties is moving forward with plans to remove several aging office buildings in National Landing from service. The Bethesda developer will reduce its office stock by 12% by mothballing towers comprising 743,000 square feet, Boston Business Journal reported. The three offices coming offline were all built in the 1960s. 1800 S. Bell St went out … Tom Steyer’s Investment Firm Makes First RE Acquisition Washington DC + Maryland + Finance | May 1, 2024 Galvanize Real Estate (“GRE”), an investment firm founded by investors Tom Steyer and Katie Hall, has acquired an 84,000 square feet industrial asset in the Baltimore-Washington corridor as its first acquisition. GRE plans to decarbonize the property through rooftop solar, mechanical upgrades, and energy-efficient improvements, aiming for a minimum 95% reduction in baseline emissions. Located at 6610 … Latest Stories FromLPL Recruits $860M Duo from Lincoln Financial Broker/Dealers | May 1, 2024LPL Financial announced that advisors at Strategic Wealth Partners have joined its broker-dealer, RIA and custodial platforms. The team reported serving approximately $860 million in advisory, brokerage and retirement plan assets and joins LPL from Lincoln Financial. Strategic Wealth Partners owner and advisor Ryan Rayburn occupied various leadership, recruitment and mentorship roles throughout his career ...Golub Capital Raises $2B for Credit Ops FundAlternative Assets | May 1, 2024Golub Capital has raised its biggest credit opportunities fund yet by picking up $2 billion of investable capital for its oversubscribed sixth credit opportunities fund, GEMS Fund 6, L.P., as the firm continues to build out its global presence. The fund will focus on credit and credit-related sub-strategies in areas related to the Firm’s market-leading ...Walton Global Launches Texas Growth 1 DST Offering Alternative Assets | May 1, 2024Walton Global, a real estate investment and land asset management company, launched its Texas Growth 1 Delaware Statutory Trust (DST) focused on land-based investments. The offering known as Reese lies within the Extra Territorial Jurisdiction (ETJ) of the City of Rhome, TX and includes 129.90 acres of land with agricultural zoning and potential for ...Sanctuary Wealth to Buy $12.5B tru IndependenceBroker/Dealers | May 1, 2024Sanctuary Wealth, an Indianapolis-based independent broker-dealer, has acquired tru Independence, a Portland, OR-based IRA platform that supports 30 RIA firms managing $12.5 billion in client assets. The combination creates a platform for financial advisors, offering a wide range of independent business model options for different types of advisors. The deal will support about 120 independent ...
