Capital Markets

“Value-add multifamily is still in high demand,” says Marcus & Millichap's Clarke Talone. “Buyers are willing to accept low current returns for an opportunity to improve a property and generate higher rents.”

The IRS released the latest guidance on opportunity zone regulations last week, and now development activity will likely takeoff.

“The opportunity to acquire 138-plus acres in West Orange is extremely rare,” says HFF's José Cruz.

Kylli Inc. got new financing for Burlingame Point, the 803,000-square-foot office/R&D campus slated for completion in 2020 that is fully leased to Facebook for occupancy by Oculus, Facebook's VR firm.

“MPC II is a great example of a highly sought-after, fully occupied, on-campus outpatient facility – fully integrated into Indiana University Health's Methodist Hospital," says JLL's Mindy Berman.

The Class A property, with 34,500 square feet of ground floor retail space, is expected to be ready for occupancy by the end of the first quarter of 2021.

All Fund I investors have made commitments to Fund II, as did new investors, and at the final closing for Fund II, 40% of Fund II equity was committed to seed assets.

Since 2015, approximately 475,000 square feet has been renovated or added to the hospital. Including the new project, the hospital's capital investment will total approximately $422 million once the new outpatient center is completed in 2021.