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The commitments come from Mubadala Investment Company and CalSTRS.

Santa Monica’s solution, approval en masse in exchange for downsized projects, is the model.

Goldman Sachs and Dalfen Industrial are the sellers.

An increasing budget deficit and more expensive debt are impacting the country’s economy.

The portfolio includes over 11,000 square feet of retail space and 126 multifamily units.

Other closings, involving another 41 properties, will take place by the June quarter.

Meanwhile, hotels are also seeing geopolitical tensions impact international travel.

Permitting decreased in the Northeast and West, while increasing in the Midwest and South.