News/Events
Morgan Stanley Leads Acquisition of Metra Living, Adds 3,200 Greater London Rentals
Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), alongside Ridgeback Group, has acquired the Private Rented Sector business of London & Quadrant Housing Trust (L&Q), which trades as Metra Living, for a total enterprise value of £1.045 billion (approximately US$1.38 billion). The transaction includes a portfolio of approximately…
Declining Empire State Building Visits Drive Q2 Loss for ESRT
New York City’s declines in international tourism over the past year since President Donald Trump assumed office are starting to affect Empire State Realty Trust (ESRT)’s finances. The real estate investment trust (REIT) reported second-quarter funds from operations (FFO) of $57 million, or 21 cents per share, marking a loss of $25.8 million or 15…
T&T Supermarkets Continues California Expansion with First East Bay Location
Following the recent opening of its first California store in San Jose, T&T Supermarket, Canada’s largest Asian grocery retailer, announced plans to open its fourth Bay Area location and first East Bay store at NewPark Mall in Newark. The 72,600-square-foot store will occupy the former Macy’s anchor space for T&T’s largest California location to date.…
KKR Posts Record Earnings as Fundraising Hits $133B
Even as the private equity industry grapples with elevated interest rates and a growing backlog of unsold portfolio companies amid mounting concerns over artificial intelligence’s impact on the software sector, KKR reported record earnings during the second quarter of 2026. Fee-related earnings rose 37 percent annually to $1.21 billion, thanks in part to management fees…
KKR, AEW Seek Exits from Chinese Commercial Property Holdings
KKR and AEW Capital Management seek to sell commercial property holdings in China as global investors continue to retreat from the country’s prolonged real estate downturn, Bloomberg News reported. KKR is marketing nine properties across China, including a high-end apartment complex in suburban Beijing and a hotel on Shanghai’s historic Bund, while AEW is looking to…
Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'
Kevin Warsh seemed to some almost unwilling to commit to raising rates if inflation didn't track back toward the central bank's long-stated 2% target.
Sunday Summary: Shutdowns, Earnings and Wildcatters
After the Pfizer accident (if that’s the right word — we’re still not sure what to call it) Commercial Observer was somewhat sanguine in our predictions. Would an incident in which nobody got hurt and the building is still standing forestall the mighty wave of office-to-residential conversions that was about to crash on Manhattan’s bejeweled…
Vici Properties Is Standing By to Build a Las Vegas NBA Arena
Vici Properties executives during a Thursday morning earnings call teased the possibility of building a National Basketball Association (NBA) arena complex on land the company owns in Las Vegas. In addition to being the largest owner on the Las Vegas Strip with properties including the Venetian, Mandalay Bay, the MGM Grand and Caesars Palace, the…
Spanish Hotel Operator Buys Chemists’ Club Hotel at 52 East 41st Street for $95M
A 107-key hotel in Midtown has traded for roughly $95 million. Eurostars Hotel Company, a Spanish hotel chain managing more than 300 properties globally, has purchased the Chemists’ Club Hotel at 52 East 41st Street from Azora, another Spanish company specializing in large-scale hotel investments, according to a source with knowledge of the deal. Eastdil…
