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Only Ripples Likely From Next CMBS Maturity Wave
A new Morningstar report indicates that relative to the last big surge of maturities, between 2015 and 2017, the upcoming one will see a higher rate of on-time payoffs.
Toll Brothers JV Breaks Ground on NJ Creative Office Project
Part of the company’s Maxwell Place development in Hoboken, N.J., the mixed-use tower will feature a 110,800-square-foot office segment.
Silicon Valley Development Lands $314M Loan
A Harvest Properties and Invesco Real Estate joint venture intends to develop Catalyst, a four-property, 587,942-square-foot office portfolio in Sunnyvale, Calif.
LaSalle Investment Signs New Tenant at 409 KSF Atlanta Facility
A third-party logistics provider will occupy the property, which is located in the metro’s Fulton Industrial submarket. Cushman & Wakefield assisted the landlord in the deal.
European Hotel Investment Volume Still Riding High
For the 12-month period ending in the first quarter of 2019, lodging transactions totaled €23 billion ($25.7 billion), with trades in the U.K., Spain and Germany accounting for the bulk of the activity.
Newmark Knight Frank Chosen to Lease DC Office
GreenOak Real Estate owns a 309,000-square-foot Class A property near Dupont Circle. The company purchased the asset from The Carlyle Group for $174.5 million last year.
Keystone Arranges $36M for San Diego County Flex Buildings
The four buildings add to buyer RAF Pacifica Group’s portfolio. Almost all purchases were renovated within the past two years and are fully occupied.
Rexford Industrial Spends $30M on 2 LA Assets
The REIT acquired two properties within prime infill submarkets. Both buildings were fully leased at the time of the deal.
BKM Capital Closes $382M Fund
The firm’s second institutional fund will invest in undervalued, light industrial assets in target markets across the western U.S.
When Hotels Meet Short-Term Home Rentals
Marriott is entering the growing home-sharing business by offering bookings at 2,000 high-end locations. Meanwhile, Airbnb and RXR Realty are teaming up on hotel-like apartment rentals in Manhattan.