LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 U.S. REIT Fundraising Rises Nearly 20% Y-O-Y in Q1 National + Finance | May 2, 2024 Apartment Occupancy Posts First Monthly Increase Since Early 2022 National + Apartments | May 3, 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 MoreTech Village NorthLubbock, TXTexas + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$4,995,000No. of Units:25Average Occupancy:93Year Built:2017Building Size:45000 Sq ftOpportunity Zone:NoPrice per unit:$199,800Learn More1000 North Oxford AvenueLos Angeles, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$1,575,000No. of Units:8Cap Rate:5.23GRM/GIM:13.42Year Built:1928Building Size:5354 Sq ftLot Size:4200 AcresNo. of Stories:2Opportunity Zone:NoPrice per unit:$196,875Learn 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 Driftwood Adds Research Triangle Marriott to Portfolio Atlanta & Southeast + Southeast + Hospitality | May 3, 2024 Driftwood Capital acquired the Marriott Raleigh Durham Research Triangle Park, a 225-key full-service, hotel located in North Carolina’s Research Triangle area. Driftwood will carry out an extensive renovation project to enhance numerous features throughout the Hotel. They’ve committed $9 million on upgrades that include improvements to guest rooms, implementing a central air system, and introducing … Two Nashville Hotels Picked by Host Atlanta & Southeast + Southeast + Hospitality | May 3, 2024 Starwood Capital Group, Crescent Real Estate LLC and High Street Real Estate Partners completed the sale of the 1 Hotel and Embassy Suites in Nashville, Tennessee, to Host Hotels and Resorts, a lodging real estate investment trust. Numerous sources reported the sales price exceeded $500 million. Opened in 2022, the dual-branded Nashville 1 Hotel and Embassy Suites … Latest Boston & New England Stories Rockland Trust Provides $6M to Build Townhomes in Taunton Boston & New England + Massachusetts + Apartments | May 3, 2024 Hyperion Holdings, LLC and Innovative Investment Corp. have secured $5.5 million in financing from Rockland Trust for the development of Dean’s Crossing, a townhome development in Taunton, MA. Construction began earlier this year, with the first six-unit building expected to be completed in September and the larger 16-unit building to be finished in 2025. The project will consist of … Nuvera Fuel Cells Renews 110K-SF Lease in Billerica Boston & New England + Massachusetts + | May 3, 2024 Newmark has facilitated a 110,684-square-foot lease renewal for Nuvera Fuel Cells, a global provider of zero-emission power solutions at Rivertech Park in Billerica, Massachusetts. Nuvera has been at Rivertech Park since 2006/2007, originally securing a full-building lease for its relocation from Cambridge. Located at 129 Concord Road, the property underwent renovations in 2001 and features … 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 Century City Development Site Trades to Private Investor California + Los Angeles + Apartments | May 3, 2024 CBRE arranged the $4.9-million sale of a 8,450-square-foot multifamily development site in the Century City submarket of West Los Angeles to 416 Development Group, LLC, which will utilize Fox Hills Development Group, LLC as the development entity. Laurie Lustig-Bower and Kamran Paydar with CBRE’s Los Angeles Multifamily Investment Sales represented the seller, 1814 Fox Hill Drive, LLC, a Los Angeles-based private … Balfour Beatty Names New President of California Operations California + Los Angeles + | May 3, 2024 Balfour Beatty has appointed Emily Kay as incoming president of California operations, based in Los Angeles. Kay will succeed current California president Brian Cahill, a 31-year Balfour Beatty veteran who will retire at the end of 2024. She will work in a transitional role until the end of the year and assumes her new role … Latest Chicago & Midwest Stories ‘Special Achievement of the Year’ Awarded to the Goldie Initiative Chicago & Midwest + Downtown + Office | May 3, 2024 The Goldie Initiative, a nonprofit organization designed to prepare women for senior leadership roles in commercial real estate, was the recipient of the “Special Achievement of the Year” award at the recent 36th Annual Chicago Commercial Real Estate Awards. The annual event brings together more than 1,850 of Chicago’s top architects, brokers, developers, property managers, … Essex Brokers Redevelopment Opportunity in Lincoln Square Chicago & Midwest + North Side + Apartments | May 3, 2024 Essex Realty Group Inc., a Chicago-based multifamily brokerage firm, has finalized the closing of an adaptive reuse opportunity in Chicago’s Lincoln Square neighborhood. The property, located at 2300 W Ainslie St, consists of a 13,500-square-foot, fully vacant masonry building with one level at grade and additional two stories above grade level. Essex Realty Group Managing … Latest Florida & Gulf Coast Stories Related Wraps Up 172-Unit Miami Mixed-Income Project Florida & Gulf Coast + South Florida + Apartments | May 3, 2024 A Related Group affiliate and Miami-Dade’s public housing agency have delivered SoMi Parc, a 172-unit mixed-income housing community in South Miami. The two-phase project will replace the South Miami Gardens public housing. The second phase of the SoMi Parc Master Plan is Gallery at SoMi Parc, which will feature 386 apartments, 20 townhouses with ownership … Tampa Apartments Sell at 30% Loss Florida & Gulf Coast + Central Florida + Apartments | May 3, 2024 In what is becoming an all-too-common occurrence, a Tampa apartment complex sold for less than its owner paid for it in 2022. The Tampa Bay Business Journal reports Lumi Hyde Park, which has 259 units, recently sold for $83 million or $320,463 per unit. Two years ago, the seller, Dallas-based Conti Capital, paid $115 million … 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 Apartment Occupancy Posts First Monthly Increase Since Early 2022 National + Apartments | May 3, 2024 The national average for apartment occupancy ticked up month-over-month to stand at 94.2% inApril 2024, RealPage Market Analytics said Friday. Marking the first monthly increase since February 2022, the April average is a “mild” 10 basis points above March’s reading, according to RealPage. The uptick was seen nationwide, with all four apartment regions – Northeast, … Can Legislators Step In Against Institutional Home Buyers? National + Weekender | May 2, 2024 Institutional investors first stepped in to buy single-family homes after the Great Financial Crisis. Plenty of foreclosed and empty homes existed, offering opportunities for these players to acquire the properties, fix them up and lease them out. Fast-forwarding more than a decade, an August 2022 report from the U.S. Department of Housing and Urban Development’s … Latest New York & Tri-State Stories G4 Capital Partners Provides $117M for BK Resi Project New York & Tri-State + Outer + Finance | May 3, 2024 Yitzchok Schwartz, a Brooklyn landlord, has secured $117 million in financing through Franklin Place II LLC to acquire and develop a residential project at 960 Franklin Avenue and 122 Montgomery Street near Prospect Park in Crown Heights. The financing, provided by G4 Capital Partners, is divided into three notes: $61.2 million, $42 million, and $13.7 million. Schwartz will pay the … Simpson Thacher Expands RE Finance Practice Team New York & Tri-State + New York + Finance | May 3, 2024 Simpson Thacher & Bartlett LLP has welcomed Aron Zuckerman as a partner in the Firm’s Real Estate Practice in the New York office. Aron brings expertise in commercial real estate transactions, particularly in lender-side financing, advising credit funds, private equity firms, banks, and institutional lenders. His practice covers mortgage and mezzanine financings, equity structures, and … Latest Phoenix & Southwest Stories Casa Grande Site for 300 Affordable BTR Homes Phoenix & Southwest + Phoenix + Apartments | May 3, 2024 Lincoln Avenue Communities (LAC) has started work on 300 affordable built-to-rent (BTR) units for individuals and families in Pinal County earning less than 60% of the Area Median Income. The property will include 2, 3, and 4-bedroom layouts, with all units expected to be completed in late 2025. LAC and its partner Fairview Housing Partners … Aspirant Starts Work on 25-Story Phoenix Rental Project Phoenix & Southwest + Phoenix + Apartments | May 3, 2024 Avison Young negotiated the $13 million sale of the 3.29-acre land parcel at 1500 N. Central Avenue in downtown Phoenix. Mark Seale, Jonathan Larsen, and Sally Zesut, who are in Avison Young’s Los Angeles office, represented the seller, Donnelley Financial. Ray Cashen of Cashen Commercial represented the buyer, Aspirant. Aspirant Development, an affiliate of the … Latest Seattle & Northwest Stories Kidder Mathews EVP Matt Murray Earns SIOR Designation Seattle & Northwest + Seattle + Office | May 3, 2024 Kidder Mathews’ Executive Vice President Matt Murray has been awarded the prestigious SIOR designation by the Society of Industrial and Office Realtors. Murray is an industrial specialist based at Kidder Mathews’ office in Bellevue, Washington. Since joining the firm as a runner in 2018, he has successfully negotiated lease and sale transactions totaling over 10 … Terreno Realty Pays $365M for Industrial on East and West Coasts Seattle & Northwest + Seattle + Industrial | May 3, 2024 Bellevue, WA-based Terreno Realty Corporation, which acquires, owns and operates industrial real estate in six major coastal U.S. markets, acquired a portfolio of industrial properties located in New York City, Northern New Jersey, San Francisco Bay Area, and Los Angeles from an undisclosed seller. The total purchase price was approximately $364.5 million. The portfolio of … Latest Texas Stories Houston-Area BTR Community Leasing Homes Texas + Houston-Galveston + Apartments | May 3, 2024 Leasing is ongoing at Landmark Properties, The Everstead at Windrose. The company, known best for student housing, has three BTR projects in various stages of production. Even though residents have been moving in since last October, the grand opening is slated for next week. Located at 7801 Farm to Market 2920 in Klein, Texas, the project … Landmark Increases UT Austin Student Housing Presence Texas + Austin + Senior Housing | May 3, 2024 Landmark Properties acquired Pointe on Rio in Austin, near the campus of the University of Texas. Pointe on Rio, soon to be rebranded as Tradition on Rio, is Landmark’s seventh asset in the Austin market; the acquisition adds 321 beds and 122 units to the company’s portfolio. Built in 2014, this mid-rise community at 1901 … Latest Washington DC Stories ECP, Montgomery County Launch Initiative to Build Affordable Homes Washington DC + Maryland + Apartments | May 3, 2024 Enterprise Community Partners, Montgomery County, and Truist have launched a Faith-Based Development Initiative in Montgomery County to convert unused land owned by houses of worship into affordable homes. The program, supported by $385,000 from Montgomery County and $200,000 from the Truist Charitable Fund, aims to assist up to 7 houses of worship in developing affordable … CRC Acquires 160K-SF Richmond Retail Center Washington DC + DC Metro + Retail | May 3, 2024 Continental Realty Corporation (CRC) has expanded its real estate portfolio with the acquisition of Gayton Crossing, a 160,830-square-foot shopping center in Richmond, Virginia. Terms of the sale were not disclosed. The acquisition was made with funds from Continental Realty Opportunistic Retail Fund I, LP (CRORF), a closed-end fund that has raised $296 million. “Gayton Crossing is an … Latest Stories FromWeekly People and Company News Markets | May 3, 2024Indiana Public Retirement Boosts Real Assets, Credit PortfoliosAlternative Assets | May 3, 2024The Indiana Public Retirement System has earmarked $450 million for its real estate and private credit portfolios. The $46.7 billion retirement system allocated $150 million to 400 Capital Asset Based Term Fund IV, a private credit fund managed by New York-based alternative asset manager 400 Capital Management. The firm did not set a target in ...Percheron Capital Closes $1.55B Sophomore FundAlternative Assets | May 3, 2024Golden Gate Capital alums Chris Collins and Chris Lawler closed their $1.55 billion second fund, Percheron Capital Fund II, at their San Francisco-based private equity firm Percheron Capital. Fund II was oversubscribed and closed at its hard cap. Percheron’s previous fund closed at its $770 million hard cap in September 2021, taking just eight months. ...Private Advisor Group Adds $90M Tennessee Wealth Firm Financial Advisory | May 3, 2024Private Advisor Group, a Morristown, NJ-based independent wealth management firm, has recruited Ethan Campbell, wealth advisor of Woodbury, TN-based Stones River Wealth Management. Campbell and his team, which includes wealth advisor Collin Reed and office administrator Alana Hale, takes a “holistic” approach to financial planning and currently oversees a reported $90 million in client assets. ...
