WeWork deal hit with junk rating; Vornado lands $675 million refinancing; Office complex sells at loss
A weekly look at the commercial mortgage-backed securities business
This week's column examines a credit downgrade on a CMBS deal revolving around WeWork, a $675 million Vornado Realty Trust refinancing in Manhattan and an office complex that sold ...
North Dakota data center deal stands out by disclosing $7 billion in lease revenue
Developer Applied Digital reaches 15-year agreement with CoreWeave for two sites
Applied Digital has entered into two 15-year lease agreements with CoreWeave for new facilities in North Dakota that are anticipated to generate about $7 billion in total revenue o...
Largest US sovereign wealth fund looks to trim global real estate holdings
Investor considers disposing of office and retail properties
The largest U.S. sovereign wealth fund plans to trim its global real estate holdings to reduce its exposure in the office and retail sectors.
Pickup in high-value property sales signals better pricing ahead
Multifamily leads in price gains over past year, CoStar data shows
Commercial property prices took a step back in April, when some deals were halted as investors assessed the long-term economic fallout from worldwide tariffs imposed by the Trump a...
Kansas City Royals make play for potential new ballpark site
Team buys $232.5 million loan on former Sprint corporate campus
The Kansas City Royals baseball team has pulled off the equivalent of a double play, acquiring an income-producing loan while gaining financial leverage on a site for a potential s...
Blackstone’s QTS plans $1.5 billion data center bond deal
Offering expands fundraising capacity through securitization of lease payments
Blackstone-owned data center developer QTS is preparing to go to market for the first time to raise $1.5 billion through the securitization of tenant lease payments from two of its...
Nuveen expands fundraising capabilities with launch of tax-advantaged exchange program
Firm’s REIT to offer 1031 investors up to $3 billion in portfolio shares
With global commercial property prices believed to be stabilizing, Nuveen, the investment manager of TIAA, has launched a new program through its Nuveen Global Cities Real Estate I...
Blackstone-owned office building plunges in value; FTC exit triggers downgrade; Simon mall has loan trouble
A weekly look at the commercial mortgage-backed securities business
This week's column examines a Blackstone-owned office tower that's seen an 81% drop in its appraised value, a bond rating downgrade tied to the Federal Trade Commission's exit from...
Montana airport deal shows growing investor interest in infrastructure real estate
Aerial firefighting firm to sell, lease back Bozeman-area facility for 10 years
Bridger Aerospace Group Holdings, one of the nation's largest aerial firefighting companies, has agreed to a sale-leaseback with a private equity investor for its headquarters camp...
Foreclosed property holdings at US banks grow 30% annually
Sales are bringing in less money, FDIC data shows
U.S. banks have steadily expanded their portfolios of foreclosed commercial properties at a time when selling them brings in less money.
Fisher Brothers, Blackstone look to boost ownership stake in New York office tower
New CMBS refinancing package includes funds to buy out remaining equity interests
A new ownership structure and financing deal for a New York office tower stand out as some of the latest examples of positive momentum in the market.
Manulife US REIT gets additional time to sell more US office buildings
Singapore-based investor comes up about $60 million short of meeting lender agreement
Manulife US Real Estate Investment Trust has secured lenders' approval to extend its asset disposal deadline by six months until the end of this year, given the soft but improving ...
Blackstone secures lenders for nearly $3 billion in portfolio refinancings
Three CMBS bond deals are expected in coming weeks
Blackstone, the world's largest commercial property owner, has $2.9 billion of securitized refinancings in the works across three different property type portfolios.
Hotels on vacation favorite Mackinac Island get $270 million refinancing
Morgan Stanley loan will cover the historic Grand Hotel and its record-long porch
KSL Capital Partners has arranged a $270 million refinancing for the 138-year-old Grand Hotel and another hotel on Mackinac Island, the car-free Michigan vacation hot spot.
Carr Properties refinances Boston tower; CMBS poses risk for banks; Short-term loan bundles surge
A weekly look at the commercial mortgage-backed securities business
This week’s column features the refinancing of a loan backing a prominent Boston office tower and examines heightened CMBS risk for U.S. banks and a surge in short-term loan bundle...
Acadia Pharmaceuticals doubles office space in Princeton, New Jersey
BXP signs pharmaceutical firm to 52,800-square-foot relocation
Acadia Pharmaceuticals is doubling its office space in Princeton, New Jersey, a market that has mostly seen tenants giving back more space than they have been leasing over the past...
Hines Global Income Trust bulks up on industrial buildings
Nontraded REIT acquires more than $300 million in properties along East Coast
Hines' nontraded real estate investment trust has gone on an industrial buying binge this month in the United States.
Norway bolsters Blackstone industrial investments in US, Canada
Norges Bank commits US$800 million to private equity giant’s logistics fund
Norges Bank Investment Management, which invests funds on behalf of Norway from its oil and gas resources, is bulking up for the second time this year on logistics properties in th...
Student housing property sales rebound
Investors flock to Florida, Georgia and the Carolinas
Student housing property sales rebounded in 2024 from their lowest annual volume in 2023, according to CoStar data. Sales rose to $6.6 billion last year from $3.9 billion in 2023 —...
Invesco breaks tariff-induced lull; New York property nears foreclosure; Large DC lease decision looms
A weekly look at the commercial mortgage-backed securities business
This week's column examines an end to the lull in CMBS deals, a New York office and retail property nearing foreclosure, and eyes on a large federal lease in Washington, D.C. Read ...