NEW YORK CITY—For 2015, the big news in the office sector was made in secondary and tertiary markets, which "really came on strong," says Cushman & Wakefield's Kevin Thorpe.

CINCINNATI—Tishman Speyer, which Macy's tapped as an advisor this past November, is eyeing partnerships on the retailer's flagship stores, including Herald Square in Manhattan. Macy's also announced 40 store closings Wednesday.

NEW YORK CITY—Manus Clancy at Trepp and other experts cite concerns ranging from widening spreads to declining metrics, although there's optimism about new issuance volume and resolutions on maturing loans.

SAN ANTONIO—Focusing initially on recently built stores, the real estate venture is expected to "free up substantial capital that will enhance the company's ability to pursue its strategic growth initiatives," says CEO Kim Lubel.

SCOTTSDALE, AZ—The combined single-family rental REIT has "the scale, balance sheet strength and operating capability to seek to deliver industry-leading returns on equity," says co-chairman Barry Sternlicht.

NEW YORK CITY—The telecommunications giant reportedly hopes to fetch more than $2.5 billion from a sale, which would further its goal of focusing on its core businesses.

BERLIN—The Potsdamer Platz acquisition in Germany's largest city represents "a fantastic opportunity for Brookfield," says the firm's James Tuckey.

SANTA BARBARA, CA—Yardi says year-over-year rent growth topped 2014's even with a flat fourth quarter; Greg Willet at RealPage notes that apartment availability remains "unusually low."