News/Events
What’s Driving CMBS Distress in the Top U.S. Metro Areas
Across the 50 largest commercial mortgage-backed securities (CMBS) markets, $45.8 billion of $393.5 billion in outstanding balance is currently distressed, a balance-weighted rate of 11.6 percent, according to CRED iQ data. Minneapolis, Denver and Oklahoma City lead the distress rankings at 55.1 percent, 35.9 percent and 34.1 percent, respectively, each shaped by a handful of…
Barings Provides $86M Acquisition Debt for Charleston Industrial Portfolio
Obelisk Real Estate Partners has secured $86.2 million to finance the acquisition of a three-building industrial portfolio in Charleston, South Carolina, Commercial Observer can first report. Barings provided the debt, while JLL’s Peter Rotchford, Christopher Peck, and Nicholas Thorton arranged the transaction. The seller was CenterPoint Properties. Ryan Naumes, managing director with Barings, noted in…
Equity Residential and AvalonBay: Inside the $71B Mega Multifamily Merger
On May 21, shortly before Memorial Day weekend, participants in public real estate markets awoke to a truly remarkable headline. AvalonBay Communities, the owner of 98,000 apartments and with a market capitalization of $25 billion, would be merging with Equity Residential, one of the oldest real estate investment trusts (REITs) in America, holding 85,000 apartments…
Sunday Summary: Seven. Hundred. Fifty. Billion.
Three-quarters of a trillion dollars can buy you pretty much anything you want. If you took the gross national product of Chile, and added the GNP of Colombia, you’d still have more than $100 billion left — and that can also get you pretty much anything in the known world. Well, J.P. Morgan Chase has…
Ryman Hospitality To Pay $1.4B For Orlando Resort Complex
Trinity Investments and Elliott Investment Management pocketed a nine-figure gain in their eight-year ownership of the property.
Anthropic Strikes Data Center Development Deal With Macquarie, GIC
The trio are launching Theseus Infrastructure to fund development of Anthropic-anchored hyperscaler sites.
JBG Smith Says Loss Is Improbable From $356M Wardman Tower Ruling
JBG Smith is planning to appeal the $356M legal judgment involving the Wardman Tower condominium in Woodley Park.
Wendy's Plots More Closures Amid U.S. Sales Slump
Wendy's has already closed 245 stores this year. Burger King has surpassed it as the nation's second-largest burger chain.
Houston's Generation Park Lands Another $2.3B Pharma Manufacturing Investment
Bristol Myers Squibb is set to invest $2.3B in Houston's Generation Park for a modular pharma campus, creating 500 jobs.
