CMBS market driven by big investors, shorter terms; Prominent New York office building struggles; Manhattan landlord gives back tower
A weekly look at the commercial mortgage-backed securities business
This week's column examines how the CMBS market is courting large institutional investors, a distressed loan on a historic New York office building and a Manhattan debt default tha...
Pacific Oak, facing debt payments, seeks approval for $318 million in property sales
REIT plans to unload nearly 2,100 single-family rental properties in US
An affiliate of Pacific Oak Strategic Opportunity REIT turned to Israel's bond market in 2020 to raise capital and refinance debt. Now, debt payments are looming, and the Californi...
Harbor Group, CBRE near completion of $740 million New England multifamily deal
Firms have joined together on largest regional apartment portfolio trade of the year
Harbor Group International and CBRE Investment Management have acquired the first four properties of a $740 million multifamily portfolio deal spanning five properties and 2,719 un...
Blackstone to acquire $869 million in single-tenant loans
Deal comes as private equity giant has been acquiring more property debt
Blackstone Real Estate Debt Strategies has agreed to acquire up to $869 million in performing single-tenant-lease financing loans from First Internet Bank.
Office loan distress heads higher; REIT completes $1.1 billion refinancing; Higher cap rates projected for 2026
A weekly look at the commercial mortgage-backed securities business
Office loan distress heads higher: Troubled office property loans that are part of commercial mortgage-backed securities, already at or near their highest levels this century, keep...
Data centers surge to top of buying lists for REITs
Retail sector also shows strong growth, trade group says
Publicly traded real estate investment trusts are buying more data centers than any other property type.
Hertz Investment agrees to sell Memphis office complex across from AutoZone Park
Deal with private buyer supports company debt restructuring
Los Angeles-based Hertz Investment Group has agreed to sell a Memphis, Tennessee, office complex to a private buyer for $12 million, the firm disclosed in a regulatory filing in Is...
GFI pursues $60 million transaction to help refinance New York hotel debt
Firm also plans bond offering to support Hotel Seville NoMad
GFI Real Estate is in negotiations to refinance debt on its Hotel Seville NoMad property in New York through a $60 million land sale-leaseback transaction and potential bond issuan...
Hims & Hers Health leases Columbus-area warehouse in one of market’s biggest deals this year
Telehealth company offers direct-to-consumer treatments for hair loss, sexual wellness, mental health
Hims & Hers Health signed a long-term lease for the warehouse at 9885 Innovation Campus Way in New Albany, Ohio, according to a regulatory filing by the telehealth firm.
Starwood REIT secures $930 million CMBS industrial portfolio refinance
Below-market rents create potential upside, analyst says
Starwood Real Estate Income Trust has secured a $930 million commercial mortgage-backed securities loan to refinance a 54-property industrial portfolio spanning five states.
Troubled bank loans decline for first time since 2022
Distress persists in properties that rely on rental income, FDIC data shows
The level of delinquent commercial real estate loans on U.S. bank books declined in the second quarter for the first time since 2022, according to data from the Federal Deposit Ins...
Merit Hill, Centerbridge secure $425 million loan for big self-storage portfolio
Refinancing comes as sector's occupancy has risen over past decade
Merit Hill Capital and Centerbridge Partners have closed a $425 million commercial mortgage-backed securities loan to refinance a national self-storage portfolio spanning 78 proper...
Renaissance Nashville Hotel secures $218 million loan
Ashford Hospitality’s second refinancing in recent months reflects strength of property
Ashford Hospitality Trust has completed a $218.1 million commercial mortgage-backed securities refinancing of the 674-room Renaissance Nashville Hotel, marking the property's secon...
Bond Street REIT secures $300 million to expand retail portfolio
Conversant Capital backs firm's investments in growing Southern markets
Bond Street REIT plans to accelerate its retail center acquisitions after securing a commitment of up to $300 million from Conversant Capital affiliates.
Israeli-listed firm enters $276 million deal for US shopping center portfolio
Medipower seeks to grow its mid-Atlantic grocery holdings
Israeli-listed investment company Medipower Group has signed an agreement to acquire a portfolio of 16 grocery-anchored shopping centers in Pennsylvania and Maryland for about $276...
Single-family rental deals outperform; Loan troubles for New York City office building; Virginia tower faces tenant exits
A weekly look at the commercial mortgage-backed securities business
This week's column examines the performance of loans backing single-family rental properties, loan troubles for a New York City office building and the implication of tenant exits ...
Global student housing giant expands in US with acquisition of Campus Advantage
UK-based Yugo targets American market growth
U.K.-based global student housing operator Yugo is expanding in the United States with the acquisition of one of the largest student housing owners and operators in the country.
Norges Bank to acquire New York tower for discount to 2021 valuation
Norwegian fund agrees to take 95% stake in 1177 Avenue of the Americas
Norges Bank Investment Management, investing funds from its oil and gas resources on behalf of Norway, has agreed to acquire a 95% stake in Americas Tower at 1177 Avenue of the Ame...
Commercial real estate prices rise for first time in five months
Investment-grade property sales outperform smaller deals, according to CoStar data
U.S. commercial real estate prices climbed in July, marking the first monthly gains since spring as institutional investors come back to a market that has struggled for more than t...
CMBS lenders post largest loss this year; Philadelphia faces office struggles; St. Louis tower sells cheap
A weekly look at the commercial mortgage-backed securities business
This week's column examines how CMBS lenders are still dealing with losses from the sale of distressed properties, a stretch of downtown Philadelphia struggling with office vacancy...