Scott Baltic
Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect’s Newspaper. He earned a master’s in journalism from Northwestern University’s Medill School of Journalism and has a bachelor’s from North Park University.
Dollar General to Build New Distribution Center in East Texas
With dollar stores a top retail growth segment, this nearly 1 million-square-foot structure will be the 17th such facility for this major player.
Caesars, VICI Close $1.1B Harrah’s Sale-Leaseback
The deal paves the way for Caesars to develop a new convention center and partially funds the firm’s previously announced acquisition of Centaur.
Blackstone Closes $1B CLO
The CRE collateralized loan obligation, which diversifies the company’s funding sources, is the largest of its kind since the financial crisis.
Liquidation of New York REIT Accelerates
In a $520 million deal, the company sold 1440 Broadway, a LEED Gold-certified office building in Manhattan, to CIM Group. The transaction is accompanied by plans to sell three more buildings, soon after the announcement of yet another disposition, as the company winds down.
RLJ Sells Luxury Boston Hotel for $170M
The historic Fairmont Copley Plaza, which dates back to 1912, sold for $444,000 per key, representing a 4.6 percent cap rate on the hotel’s 2017 NOI.
Carter Validus Sells Data Center for $315M
An affiliate of Digital Realty Trust LP is the new owner of a 250,000-square-foot data center situated in the Chicago suburb of Northlake, Ill.
Morning Calm Closes Suburban DC Office Value-Add Deal
The nearly 300,000-square-foot park is less than half occupied, but its immediate environs look to be on the verge of a boom.
Kennedy Wilson Refinances $334M of Irish Properties
Euro-subsidiary completes refinances of seven assets, including office, retail and multifamily properties in the capital city of Dublin. The deal follows this fall’s merger between Kennedy Wilson Holdings and Kennedy Wilson Europe Real Estate.
Transwestern, JDM Partners Buy 2 MSF Tempe Office
The partnership acquired the five-building Marina Heights campus from State Farm Automobile Insurance Co. in a sale-leaseback deal valued at $928 million, which could mark the largest-ever CRE sale in metro Phoenix.
Microsoft’s New SV Campus Aims for Maximum Green
The major facility now under construction could be the first tech campus to achieve net zero, non-potable water use. Moreover, the buildings will be designed to meet LEED Platinum certification and will feature solar panels, a “living” roof and more.