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Positive multifamily fundamentals have resulted in a second multifamily purchase in a month; specifically, RISE Properties Trust purchased Copper Creek Apartments in Puget Sound for $35.4 million.
Brookfield also reports that it plans to undertake capital improvements at the iconic property that will include improvements to the lobby, a transformed public plaza and the addition of premier amenities.
The Development of Distinction Awards recognizes developments and open spaces that demonstrate best practices in design, construction, economic viability, healthy places, marketing and management.
Also, JLL reports that private capital captured a record 37.9% of the net-lease market in the first half of 2018, up by 9.4 percentage points since 2015.
Parallel Capital Partners sells the final 12 buildings in a larger office portfolio purchased in 2012 for $63 million and sold for nearly $150 million.
The Pacific Oak Companies will work together to facilitate the acquisition, disposition and management of commercial real estate and commercial real estate related investment products.
The spinoff of commercial real estate services firm Newmark Group is expected to become effective on Nov. 30, BGC reports. The stock distribution will be to BGC stockholders of record as of the close of business on Nov. 23, 2018 (the record date).