Commercial Real Estate News (CRE) & Property Resource

National

Global Medical REIT Buys $94M Portfolio

April 19, 2019

CNL Healthcare Properties was the seller of the four inpatient rehabilitation facilities.

National

Treasury Sheds More Light on Opportunity Zone Rules

April 18, 2019

The Treasury Department clarified that leasing can meet the act of conduct requirement of a business.

Washington, DC

Luxury Condo Breaks Ground in Tysons

April 17, 2019

Washington DC-area developer Renaissance has built thousands of single-family and multifamily homes throughout Northern Virginia.

National

A Shift Is Coming For Food-and-Beverage Real Estate

April 16, 2019

In a new report CBRE predicts first-ring suburbs will emerge as hotspot for F&B.

Washington, DC

Chemonics Takes 300,000 SF at The Yards

April 15, 2019

The lease will lead the second phase of The Yards waterfront transformation, according to Brookfield’s Greg Meyer.

Washington, DC

Is the Love Affair Between Foreign Investors and DC Ending?

April 12, 2019

Net foreign investment in the DC office market fell into negative territory but JLL report author John Andril predicts foreign buyers will re-enter the market later this year.

National

Carter Validus REITs to Merge in $3.2B Deal

April 12, 2019

The merger agreement includes a “go-shop” provision that allows the special committee of the board of directors of Carter Validus Mission Critical REIT to solicit and negotiate with other potential acquirers.

National

New Mountain Debuts $533M Net Lease Fund

April 11, 2019

The initial fundraising goal was $300-$350 million.

Washington, DC

Watergate Office Goes to Market with $105M Whisper Price

April 10, 2019

Newmark Knight Frank is marketing 2600 Virginia Ave. on behalf of Rockwood Capital.

Washington, DC

UPDATE: Google Takes 164,000 SF At Reston Station Office

April 09, 2019

Google has had a longstanding presence in Reston and will start moving its current employee base into Reston Station later this summer.

Washington, DC

WashREIT Identifies Another Affordability Gap

April 08, 2019

The average DC metro millennial makes about $46,000 a year but still has trouble finding housing.

Washington, DC

Life Co. Finances $111M Liaison Hotel Sale

April 05, 2019

HFF placed the 75% loan-to-cost floating-rate bridge loan.

National

WeWork Expands Portfolio With Managed By Q Deal

April 04, 2019

Managed By Q provides a wide range of services that office tenants can hire.

Washington, DC

WashREIT to Buy Value-Add Multifamily Portfolio for $461M

April 03, 2019

The 2,113-unit portfolio consist of seven suburban Class B apartment communities in northern Virginia and Montgomery County.

Washington, DC

Carr Signs a 55,000 SF Lease at The Wilson

March 29, 2019

ProShares is taking space at the building, which is expected to deliver in 2020.

National

Reonomy Adds Tenant Data to the Mix

March 28, 2019

The company has added 11 million tenant records across the US.

National

Fannie Mae Taps Hugh Frater as Permanent CEO

March 27, 2019

The former Berkadia CEO has been the GSE’s interim CEO since October 2018 and on its Board since 2016.

National

WPT to Buy $226M US Logistics Portfolio

March 27, 2019

The portfolio consists of 13 industrial buildings and three land parcels in multiple US markets that total 2.2-million-square feet.

National

BlackRock to Buy eFront for $1.3B

March 25, 2019

eFront, which serves more than 700 clients in 48 countries, manages the alternatives investment lifecycle.

Atlanta

Cousins Properties, TIER REIT Merge in $7.8B Deal

March 25, 2019

When the merger closes, the company will retain the Cousins name and will trade under the ticker symbol CUZ.

Washington, DC

DC is the Most Attractive Opportunity Zone on the East Coast

March 25, 2019

DC follows Travis, Texas and Sacramento, CA in a nationwide look by Yardi Matrix on Opportunity Zones.

Carolinas

Sands Investment Group Preps for Wider Expansion

March 22, 2019

“We have discussions for at least one other office this year and have the potential to open two to three offices per year.”

Los Angeles

CBRE to Manage 14M-SF MOB Portfolio

March 21, 2019

Providence St. Joseph Health is in the process of transforming its service delivery to more directly support the full continuum of care, including community-based, acute and post-acute care.

National

David Brickman Named CEO of Freddie Mac

March 21, 2019

Sara Mathew, Chair of Freddie Mac’s Board of Directors, noted that among his accomplishments, Brickman led the process of driving credit risk transfer and attracting private capital to finance multifamily housing.

Washington, DC

Phase II Construction Begins on View at Mill Run

March 21, 2019

The initial phase of the multifamily community delivered around five years ago.

Washington, DC

500 First St., NW Trades for $70M

March 19, 2019

Office Properties Income Trust had planned to reposition the building but the price was too good to resist.

Washington, DC

Ridesharing Has Influenced Office Rents Near Metro Stops

March 18, 2019

The average asking rent at buildings located one block from a Metro stop is now $53.34 per square foot full-service.

National

Colony Capital Launches REIT Index, New Real Estate Fund

March 18, 2019

Colony Capital has partnered with Barclays Bank PLC to structure the Index

Washington, DC

Douglas Secures EB-5 Money for 1900 Half St. Project

March 15, 2019

EB5 Capital is contributing a $44.5 million preferred equity investment in Douglas’ office-to-multifamily housing conversion.

Career Development

C&W Taps Greg Schuster as President of Global Occupier Services

March 14, 2019

The appointment will allow Steve Quick to completely focus on the global platform and initiatives.

National

Lantern Portfolio Makes Record With Its $891M Trade

March 14, 2019

The portfolio, which also contains a Northern Virginia sub-portfolio, is the largest multifamily transaction in Philadelphia to date, according to Morgan Properties.

National

Brookfield Buys Majority Stake in Oaktree Capital for Reported $4.7B

March 14, 2019

The two companies together will have approximately $475 billion of assets under management.

National

The Weakening Link Between Cap Rates and Borrowing Costs

March 14, 2019

The reasons: institutional demand for commercial real estate is much stronger than in the past and there is a growing acceptance of using as less leverage to finance deals.

Washington, DC

HHHunt to Invest $300M in Mid-Atlantic Apartments

March 13, 2019

HHHunt's Apartment Living division will open six new communities this year in Virginia, Maryland and North Carolina.

Washington, DC

Rockville Town Center to Get $150M Mixed-Use Project

March 12, 2019

The eighteen story building will contain 250 market rate multifamily residential units, 150 senior affordable multifamily residential units, 19,000 square feet of street level retail and over 600 parking spaces.

Washington, DC

WashREIT Leases 51,000 SF at Watergate 600

March 12, 2019

With this lease, the REIT will have leased 80% of the space vacated by Blank Rome law firm.

Washington, DC

The RB Corridor’s Vanishing Office Pipeline

March 11, 2019

Pricing for new construction along the Silver Line from Rosslyn to the Toll Road will look increasingly similar.

National

Brookfield Sells Facilities Management Unit for $1B

March 11, 2019

CCMP Capital Advisors is the buyer of BGIS, a global provider of facilities management services.

National

Why One Institutional Investor Recapped a Workforce Housing Portfolio

March 11, 2019

Up until now, Asia Capital Real Estate has secured much of its financing from family offices.

Washington, DC

Hyattsville Apartment Trades Off-Market for $43M

March 08, 2019

The Donaldson Group, Declaration Capital and Angelo, Gordon are the buyers of the 288-unit high rise.

Washington, DC

PTM, Douglas Development Partner on $190M Buzzard Point Project

March 08, 2019

This will be the second major acquisition for PTM’s recently launched Opportunity Zone fund.

Washington, DC

Akridge, Stars REI are the Buyers of 1100 17th St.

March 07, 2019

This is the third joint venture between the two companies.

Washington, DC

JBG Smith Secures Pebblebrook Hotel as Tenant

March 06, 2019

Pebblebrook is the fifth tenant to commit to 4747 Bethesda Ave., and the fourth to make the building its headquarters location.

National

Amherst Buys Single-Family Rental Portfolio for $103M

March 06, 2019

Amherst Residential is targeting the purchase of more than 10,000 single-family rental homes by the end of 2019.

National

CRE Plays Investors Like Right Now

March 06, 2019

Many investors are focusing on properties in secondary markets and alternative asset types, according to a new CBRE report.

Dallas/Fort Worth

Landes Group Buys $86M Retail Net Lease Portfolio

March 05, 2019

CEO Brett Landes says the company expects to close on 35 assets in the first quarter.

Washington, DC

King Farm Village Center Trades for $40M

March 05, 2019

Regency Centers was the seller of the 118,326-square foot grocery anchored shopping center.

Washington, DC

One Independence Square Trades for $170M

March 04, 2019

Piedmont Office’s president C. Brent Smith says the REIT is pleased it sold the 334,000-square foot building because it reduces its exposure to the Southwest DC submarket.

National

Report: Amazon to Launch New Grocery Store Brand

March 04, 2019

With this move Amazon is investing in one of the most stable types of retail.

Washington, DC

Liberty Property Sells CBD Office for $62M

March 04, 2019

The 146,979-square-foot property was 65.7% leased at closing.

National

Your Apartment’s Name Matters More Than You Think

March 04, 2019

The name Lakeside correlates to a high asset value but that doesn’t mean changing the name of an apartment building to Lakeside will create more value.

Washington, DC

BoundTrain Real Estate Buys Falls Church Offices for $38M

March 01, 2019

This is the private real estate investment firm’s first acquisition in the Washington, DC area.

Career Development

GlobeSt.com Debuts Inaugural WOMEN OF INFLUENCE Retreat, Gala

February 28, 2019

The two-day retreat is a think-tank to advance the hiring, retention and promotion of diverse women in the commercial real estate industry by providing them a platform to meet and discuss the challenges and opportunities facing women in this sector.

National

Agree Realty Cites "Unique Opportunities" in Pipeline

February 26, 2019

They range from urban condos to a hard corner portfolio and dominant intersections, according to CEO Joey Agree.

Washington, DC

Pebblebrook Sells DC’s Hotel Palomar for $142M

February 25, 2019

This sale follows on the heels of the sale of the 343-room, Liaison Capitol Hill in the District for $111 million.

National

Colony Industrial Sells Portfolio for $136M

February 25, 2019

The portfolio totals 2.3 million square feet and is located in four markets.

Dallas/Fort Worth

CBRE’s Flexible Space Unit Strikes First Landlord Deal

February 21, 2019

“There are a range of units and options we discuss with landlords.”

National

Silverman Group Buys Industrial Portfolio For $197M

February 20, 2019

Rubenstein Properties was the seller of the portfolio, which contained 28 buildings and one development parcel.

Washington, DC

Federal Realty Steps Up Focus on Virginia

February 20, 2019

The REIT is opening its first full-service corporate office in Northern Virginia in part to target “incremental investment.”

Washington, DC

Target to Open in Tenleytown

February 19, 2019

CBRE brokered the 46,016 lease for Target at CityLine.

Washington, DC

Pebblebrook Hotel Sells Liaison Capitol Hill For $111M

February 15, 2019

The sale price of the 343-room hotel reflects a 16.9x EBITDA multiple and a 4.9% net operating income cap rate.

National

Where Will Amazon’s 25,000 Lost Jobs Go?

February 15, 2019

Sorry, Arlington, you probably won’t be getting the bulk of the jobs originally slated for Queens.

Boston

Industrial Logistics Properties Trust Buys Two Portfolios For $905M

February 15, 2019

The REIT has acquired more than $1 billion of properties since its IPO in January 2018.

National

Google Plans $13B In CRE Investments Across US

February 14, 2019

Google’s expansion will enable the creation of more than 10,000 new construction jobs in Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina and Virginia.

Washington, DC

UPDATE: Elion, Buchanan Buy OPI’s Industrial Portfolio

February 13, 2019

“This investment expands our geographic footprint to strong submarkets for one-story flex and industrial product at a fraction of replacement cost in these locations."

Washington, DC

WeWork Takes Full Building Lease at 1701 Rhode Island Ave.

February 13, 2019

The 1701 Rhode Island Ave. location is poised to be WeWork’s flagship location in the city.

National

How Opportunity Zones Might Define Substantial Improvement

February 13, 2019

The substantial improvement definition could be one based on total cost expenditures or something based on the strict definition of what could must be capitalized.

Washington, DC

B.F. Saul to Redevelop Tysons Park Place

February 13, 2019

In August of 2018 the developer submitted plans to double the square footage of 7926 Jones Branch Dr.

Washington, DC

Office Properties Income Trust Sells DC Portfolio for $199M

February 12, 2019

The sale is part of the REIT’s larger disposition plan to fund its 2017 acquisition of First Potomac Realty Trust.

National

2018 Window for Opportunity Zones Capital Gains is Closing

February 11, 2019

A Treasury Department hearing this week could answer lingering questions that investors have.

Washington, DC

Confirmed: JBG Smith Sells Commerce Executive Park for $115M

February 08, 2019

The acquisition by Comstock will add 1.1 million square feet of additional density to its own portfolio.

Chicago

Ventas Announces New $1.5B Development Pipeline

February 08, 2019

The REIT has entered into an agreement with Arizona State University to develop a Research & Innovation Center.

National

Lampert's Plan for Sears Gets Nod From Bankruptcy Judge

February 08, 2019

Sears’ real estate sales are expected to generate $200 million a year for the next three years.

National

Canadian REIT Buys Midwest Logistics Portfolio for $179M

February 05, 2019

A recent vacancy of approximately 300,000 square feet in a Louisville facility brought down the cap rate a bit but Dream Industrial says that once it is leased up, it expects to cap rate to increase to 6.5%.

National

Brookfield Real Estate Fund Closes On $15B

February 04, 2019

Brookfield Strategic Real Estate Partners III is the largest private fund for Brookfield to date.

National

CBRE Relaunches Workplace Experience Services As Host

January 31, 2019

Employees increasingly cite workplace amenities and services as important influencers for them.

Washington, DC

Silver Spring Apartment Complex Trades For $87M

January 30, 2019

The partnership plans to invest additional capital in the 592-unit garden style apartment community.

National

GSEs’ Conservatorship May Be Nearing An End

January 28, 2019

The Trump Administration is signalling that it is working on a concrete plan.

Washington, DC

Finmarc Sells Another Piece of First Potomac Portfolio

January 25, 2019

“This sale continues our strategy of selectively disposing of certain properties to generate proceeds to fund value-add and opportunistic acquisitions in the future.”

National

Welltower Buys MOB Portfolio for $400M

January 25, 2019

"Selling points include the portfolio's alignment with major health systems, durable income and locations in strong metro markets."

Washington, DC

Christine Espenshade To Lead JLL’s East Region for MF

January 24, 2019

JLL has appointed Espenshade and David Martin to lead its US multifamily investment sales platform.

Washington, DC

Bernstein Cos. Launches Opportunity Zone Fund

January 23, 2019

The fund’s portfolio will have a core focus on multifamily development in urban locations.

Chicago

Rockwell Completes 356-Unit Deconversion of Huntington Condominiums

January 22, 2019

“Huntington is another example of a residential complex located in an extremely vibrant community that suffered as a result of the economic downturn of the last decade."

Washington, DC

Arlington Portfolio Sale Illustrates Amazon Effect

January 22, 2019

“We listed the properties the day after Amazon announced it was locating its headquarters here. The properties were under contract within hours with two at the full price.”

National

This Year’s Winners and Losers In The Multifamily Markets

January 22, 2019

Boston, Chicago and New York City will see more supply than demand this year.

International

Global CRE Volumes Reached $733B Last Year

January 21, 2019

This year, JLL projects investment volumes will be approximately 5 to 10% below the 2018 total.

National

The Top Multifamily Lenders for Freddie Mac in 2018

January 18, 2019

The GSE closed $78 billion in total product last year and securitized a record $72.8 billion.

Boston

REIT to Sell 20 Travel Centers in $308M Sale Leaseback

January 17, 2019

Hospitality Properties Trust expects to realize a gain of $160 million from these sales.

Washington, DC

New EYA/Bernstein Venture Launches

January 17, 2019

For its first project Boston Properties sold the venture the 375-unit Tower Oaks project in Montgomery County.

National

Eddie Lampert Wins Sears Bankruptcy Auction; 400 Stores To Be Kept Open

January 16, 2019

The retail real estate industry will likely have mixed feelings about Sears’ second life.

Washington, DC

PBS to Relocate 120,328 SF Within National Landing

January 16, 2019

“The relocation and extension of the PBS lease is also indicative of our plan to retain and attract diverse industries to National Landing, including associations and non-profits.”

National

Surprise! Coworking Does Not Erode Property Values

January 16, 2019

Nearly 40% of the office deals with a coworking component achieved values greater than the average for their market, a CBRE study found.

National

Colliers Appoints Co-Heads to Lead Capital Markets Platform

January 14, 2019

David Amsterdam and David Kotansky are based on the East and West Coasts.

National

What We Can Learn From the Opportunity Zone Comment Letters

January 14, 2019

Comment letters give a sense of how developers are thinking about using the Opportunity Zones.

National

Here's Why the Multifamily Cycle Still Has Room to Run

January 11, 2019

The market is about to embark on another year of about 300,000 deliveries, making supply the biggest obstacle to rent growth.

Washington, DC

Cybersecurity’s Growing Role In DC Region's Office Demand

January 10, 2019

A 4.1% increase in 2019 federal spending to strengthen federal networks against cyber-threats is expected to fuel demand for office space by these companies.