Leggat McCall Lands $122M Loan For Bunker Hill Redevelopment: The Boston Deal Sheet
Leggat McCall, the Boston Housing Authority and Joseph J. Corcoran Co. secured a $122 million loan from Cottonwood Group to fund Building F of the Bunker Hill redevelopment. The nine‑story building will contain 208 market‑rate and 58 affordable apartments, part of a $1.4 billion, 15‑building program slated to deliver 2,699 units over the next decade. The City’s Housing Accelerator Fund is contributing $50 million in equity, while the new phase costs $176 million. Additional transactions in the Boston market include Brookfield’s $155 million warehouse purchase and DivcoWest’s $341 million refinancing.
Moody's: Office Vacancy Hits 21% In Q1, Another Record High
Moody's Analytics reports U.S. office vacancy climbing to a record 21% in Q1 2026, up 10 basis points from the prior quarter and 60 bps year‑over‑year. Negative absorption totaled nearly 3 million square feet, led by Oakland‑East Bay, Austin, Chicago and San Jose. The...
REIT Sells Alexandria Hilton To Prior Owner For Half Of 2018 Price
Ashford Hospitality Trust sold the 252‑room Hilton Alexandria Old Town to Lodging Capital Partners for $58 million, roughly half the $111 million it paid in 2018. The transaction included repayment of a $32.5 million loan and generated a non‑recurring loss, with the REIT...
Michael Stern's Mercedes-Benz Condo Project Hit With Foreclosure Suit
JDS Development Group’s Mercedes‑Benz Places tower in Brickell faces an $80.4 million foreclosure lawsuit filed by a Cottonwood affiliate after the developer’s bridge loan defaulted. The 67‑story, 791‑unit mixed‑use project, branded with Mercedes‑Benz, was financed with an $86 million acquisition loan that...
Senior Housing REIT Eyes IPO After Posting Years Of Losses
National Healthcare Properties (NHP), a self‑managed senior‑housing REIT, disclosed a confidential plan to launch an initial public offering. The company reported a $58 million net loss for 2025 after property losses of $203 million in 2024 and $86 million in 2023. Its portfolio...
'Playing Catch-Up': Rising Backlash Forces Data Center Developers To Rethink Community Strategy
Community opposition to data‑center projects surged in 2025, with cancellations nearly tripling from the prior year. Heatmap reports 25 projects were halted, 21 in the second half, and roughly 40% of the 99 contested sites are now scrapped. The U.S....
UCB's $14M Land Buy Clears Way for $2B Drug Manufacturing Plant: The Atlanta Deal Sheet
UCB’s U.S. arm purchased 117 acres from the Rowen Foundation for $14.3 million, clearing the site for a planned 460,000‑square‑foot drug manufacturing complex in Gwinnett County. The $2 billion plant, slated for completion in five to six years, will employ roughly 330...
NAI Hiffman's Adam Johnson: Office Is Recovering, Adjusting To New Reality
Office sales surged 35% nationwide in 2025, and leasing activity rose over 5% YoY, driving vacancy rates down to 18.4%. In Chicago, large‑scale transactions like the $55 M 190 South LaSalle sale highlight a headline‑grabbing rebound, yet Adam Johnson of NAI Hiffman warns the...
Shvo Gets $34M In $691M Transamerica Pyramid Sale
Michael Shvo’s consortium sold San Francisco’s iconic Transamerica Pyramid to Cyprus‑based Yoda PLC for $691 million, earning Shvo a $34 million commission. The owners, who invested nearly $1 billion—including a $650 million 2020 purchase and extensive renovations—realized a loss on the transaction. Yoda PLC...
Denver Downtown Development Authority To Spend $5.2M Upgrading The Pavilions
The Denver Downtown Development Authority (DDDA) will invest $5.2 million to repair the Denver Pavilions’ parking garage and install a fixed roof, with construction slated to begin within 30 days and run 18 months. The garage overhaul, costing $3.8 million, includes a...
Walton Global Courts Investors For U.S. Fund As Money Starts Shifting Away From Gulf
Walton Global has launched the U.S. Land Income & Growth Fund, a Shariah‑compliant vehicle aimed at offshore investors, especially in Asia and the Middle East. The fund seeks to acquire undeveloped, pre‑entitled land in high‑growth U.S. markets such as Dallas‑Fort Worth,...
Chicago Women In Real Estate Say Career Growth Starts With Betting On Yourself
Chicago’s leading women in real estate gathered at Bisnow’s ceremony, where TJ Edwards shared her 12‑year climb from federal architect to executive director after earning an MBA from Northwestern. Panelists including Puja Doshi and Catherine Sierakowski urged women to trust...
Related, Oracle Finalizing $16B Data Center Financing Deal
Oracle is close to finalizing a $16 billion financing package for Related Digital’s massive data‑center campus in Saline Township, Michigan, which will be leased to the tech giant under its Stargate AI partnership with OpenAI. The deal comprises a $2 billion equity...
Trophy Office Rents Jump 9% In D.C. For The Second Year In A Row
Trophy office rents in Washington, D.C. surged 9.3% year‑over‑year to $105 per square foot, marking a second consecutive double‑digit increase. Vacancy in the premium segment fell to 10.6%, far below the 22.6% rate across all office classes, as law firms...
Heart Of Glass: First Look Inside Dublin's €3.5B Glass Bottle Megascheme
Dublin’s Glass Bottle megaproject, valued at €3.5‑4 billion, is reshaping a 37‑acre brownfield into a mixed‑use district with up to 4,000 rental homes and 1 million sq ft of commercial space. The first residential block, Lime House, delivered 212 apartments in late 2025 and is...
Contractor Expands Footprint In Thornton: The Denver Deal Sheet
Colorado‑based Industrial Constructors/Managers Inc. has doubled its footprint, moving into a 60,000 SF facility in Thornton, including a 40,000 SF steel fabrication shop. The expansion supports overflow from its Pueblo plant and broadens capacity for metal work such as stairs and handrails....
Optimism Grows In Atlanta Industrial, Despite Global Uncertainty
Atlanta’s industrial market rebounded strongly in Q1 2026, with tenants absorbing 5.3 million square feet—the highest quarterly total since 2022. Vacancy slipped to 8.4% from 8.8%, reflecting renewed demand after a year of just 347 K SF absorbed. Developers are cautiously restarting projects,...
No Sound, No Fury: Acoustics Playing Bigger Role In Luxury Condo Projects
Luxury condo prices are climbing, with the median unit now at $1.8 million and ultra‑luxury units reaching $10‑15 million. Buyers expect premium sound isolation, prompting developers to treat acoustics as a core amenity rather than an afterthought. Industry panels at Bisnow’s South...
Market West Struggles Continue As Philly Leads Nation In Office Distress
Philadelphia’s office market is in distress, with 34% of CMBS‑backed loans classified as troubled—the highest among the nation’s 20 largest metros. Morningstar’s latest Boots on the Ground report highlights steep price cuts, exemplified by Centre Square’s $94 million sale, less than a...
Retail Leases Too Complicated For Commercial Rent Control, Landlords Say
New York state lawmakers are drafting a commercial rent‑control bill that would mirror residential rent‑stabilization, creating a Rent Guidelines Board to cap annual increases and standardize ten‑year leases. Retail landlords at Bisnow’s NYC Retail Conference argue that storefront leases are...
Younger Partners Explains Strategy That Led To Full Occupancy At 8 DFW Office Properties
Younger Partners leveraged Dallas‑Fort Worth’s office resurgence to fully lease 463,000 sq ft across eight older Class‑B properties in 2025‑2026. The firm combined owner collaboration, direct marketing, small‑lease flexibility, and aggressive spec‑suite upgrades to attract local financial, legal and insurance tenants. By...
FBI Office Tower In Chelsea Sells For $134M
Dallas‑based Allan Bailey Johnson Group purchased the FBI’s 268,000‑sq‑ft regional office tower at 201 Maple St. in Chelsea for $134 million, with Old National Bank providing $94 million in financing. The building, leased to the agency under a 20‑year GSA agreement, will...
Lightstone Acquires Rhode Island Biomanufacturing Facility For $68M: The Boston Deal Sheet
Lightstone, a New York real‑estate firm, bought the 122,000‑square‑foot 100 Technology Way biomanufacturing campus in Smithfield, Rhode Island for $68 million. The property is fully leased to Organogenesis, providing immediate income. Lightstone acquired the asset from The Davis Co., which purchased it for...
Manulife Selling TCW Tower To LA Water And Power For $93M
Manulife US REIT is selling the 35‑story TCW Tower in downtown Los Angeles to the Los Angeles Department of Water and Power for $92.5 million, roughly $129 per square foot. The 719,000‑sq‑ft office building was only 46% occupied at the end of 2025,...
Boston's Difficult Building Environment Forces Developers To Get Creative
Boston’s commercial‑real‑estate market is stalling as developers grapple with a maze of regulations, soaring construction costs, and looming rent‑control measures. Projects like the 161‑acre Suffolk Downs redevelopment and the $5 billion Dorchester Bay City megaproject have faced prolonged approvals, tax‑break negotiations,...
2 Suburban Retail Developments Approach Groundbreaking: The Houston Deal Sheet
Two major suburban retail projects are moving toward construction in the Houston region. Trademark Property’s Dunham Pointe in Cypress will break ground this summer on a 206,000‑square‑foot village, already securing leases for six tenants covering 35,000 sq ft and negotiating with additional...
Eastham Capital And Bender Cos. Buy $24M Suburban Multifamily Building
Joint venture Eastham Capital and Bender Cos. acquired The Flats at Gladstone, a 168‑unit multifamily complex in Glendale Heights, for $24.1 million. The property is 96% leased, offering two‑bedroom units between 846 and 987 sq ft, and the buyers assumed a $16.2 million Fannie...
Former LuxUrban CEOs Reach $3M Deal With Investors Who Accused Them Of Fraud
Former LuxUrban Hotels founders Brian Ferdinand and Shanoop Kothari have agreed to a $3 million settlement to resolve a class‑action fraud suit alleging they misled investors about hotel lease agreements. The payment will be sourced from the company’s directors‑and‑officers liability insurance...
MetroNational Acquires M-K-T Heights, Expanding Portfolio Outside Of West Houston
Houston‑based MetroNational announced a joint‑venture acquisition of M‑K‑T Heights, a 218,000‑square‑foot mixed‑use redevelopment of former warehouses. The deal brings together MetroNational, Radom Capital and Triten Real Estate Partners to preserve the project’s creative office, retail and green‑space components. The acquisition...
Capital Group Buying Downtown's Distressed Bank Of America Plaza
Capital Group announced it will purchase the 55‑story Bank of America Plaza in downtown Los Angeles for roughly $210 million, converting its long‑time tenancy into ownership. The building, previously appraised at $212.5 million, had seen its value plunge from $605 million a decade...
Allston LabWorks Lands Rebranded Biotech For First Lab Lease
King Street Properties’ Allston LabWorks, a $915 million mixed‑use campus in Boston, secured its first laboratory tenant when drug manufacturer Terrestrial Bio signed a 42,000 square‑foot lease for its new headquarters and manufacturing hub. The agreement coincides with Terrestrial’s recent $50 million Series C...
Why Prices For D.C.-Area Retail Properties Are Spiking Right Now
Retail property prices in the Washington, D.C. metro are soaring, with the average price per square foot jumping 27.2% in 2025—far above the 12.3% national increase. The surge follows a 30% decline in 2023‑24 and is fueled by strong consumer...
2028 Olympics Partner Leases 108K SF In Downtown LA
On Location, a ticket‑and‑travel specialist, has leased 108,000 square feet at the former Union Bank Plaza, 445 S. Figueroa St., as part of its 2028 Olympics hospitality push. The 40‑story building was bought in 2024 by the Southwest Carpenters Pension Trust for $80 million. Downtown Los Angeles recorded...
Army Taps KKR And Carlyle For $4B Of Data Centers On U.S. Bases
The U.S. Army announced a partnership with Carlyle Group and KKR’s CyrusOne to build two massive data‑center campuses on domestic bases, committing roughly $4 billion in private capital. Carlyle will develop a 2.5‑to‑3 GW facility on 1,384 acres at Fort Bliss, Texas,...
U.S. Trading Firm Picks Winner For 450K SF New London HQ
Jane Street has chosen 10 Bishops Square as the site for its new 450,000 SF London headquarters, part of an 870,000 SF redevelopment slated for completion in 2030. The project, owned by the Hong Kong Monetary Authority and JPMorgan Global Alternatives, was bought for £557 million (≈$696 million) in 2010....
QuadReal Ramps Up Self-Storage With £280M Acquisition: The London Deal Sheet
QuadReal Property Group has agreed to buy a 27‑asset, 1.2 million‑square‑foot self‑storage portfolio in the UK for £280 million (≈ $350 million). The deal creates a joint venture with Clear Sky Capital, in which QuadReal holds a 95% interest and will inject an additional...
Starwood's LNR Submits Winning $95M Bid For Back Bay Office
Starwood Property Trust’s LNR Partners secured the winning $95 million bid for the 540,000‑square‑foot Park Square Building in Boston’s Back Bay. The property, built in 1922, was previously assessed at $119 million and carries a $160 million loan that defaulted when owner Capital...
Long-Planned Teachers Village In Atlanta May Finally Be Shovel-Ready
RBH Group has filed a permit to begin construction on Teachers Village, a 33‑story, 430‑unit affordable‑housing tower at 98 Cone St. in downtown Atlanta. The development will reserve over 220 units for independent‑living seniors, 197 for workforce housing, and a...
Gladstone Institutes Leases Additional 105K SF In Mission Bay
Gladstone Institutes announced a lease for an additional 105,000 square feet of laboratory space at 1450 Owens Street in San Francisco’s Mission Bay. The new facility, slated to open in 2027, will accommodate roughly 300 scientists across 20 labs, freeing up...
Centers Health Care Sells Flagship Nursing Home For $162M
Centers Health Care sold its flagship Brooklyn nursing home, Boro Park Center, for $161.5 million, an eightfold increase from the $19 million purchase price in 2011. The buyer, 4915 10th SNF Realty LLC, secured a $64 million mortgage from Huntington National Bank as part of a...
Plano Mall Redevelopment To Move Forward With Or Without Dallas Stars
The Shops at Willow Bend in Plano will be demolished and redeveloped within the next year, regardless of whether the Dallas Stars secure a new arena on the site. Owners Cawley Partners and Waterfall Asset Management plan a mixed‑use project...
Here's How Developers Are Trying To Reduce The Cost Of Conversions
Developers in Washington, D.C. are buying under‑priced office buildings and converting them into residential apartments to sidestep the scarcity of new multifamily projects. By reusing existing infrastructure such as underground parking and designing larger, fewer units, they trim capital expenditures...
The Future Of Data Center Cooling At Bisnow's DICE National Conference
Data center cooling now consumes roughly 550,000 gallons of water per day, a figure climbing as AI workloads increase. Companies like Watts are promoting direct‑to‑chip liquid cooling to slash both water and energy use. Watts’ national sales manager Nolan Foran...
Ares Buying 36 Industrial Properties From EQT For $650M
Ares Management is purchasing 36 industrial warehouses from EQT Real Estate for more than $650 million, marking its second major acquisition from the seller in four months. The transaction includes 7.3 million square feet of space, financed with a $500 million two‑year floating‑rate...
Japanese Developer Pays $89M For Miami Worldcenter Site: The South Florida Deal Sheet
Tokyo‑based Kasumigaseki Capital announced the acquisition of a 155 NE 10th St. parcel in Miami for $88.8 million, its first U.S. purchase. The deal includes $45 million of seller financing and targets a 53‑story mixed‑use tower originally envisioned by Falcone Group as part of the...
Simon Lines Up $465M Refi For Pentagon City Mall, Office And Hotel
Simon Property Group and Institutional Mall Investors are set to close a $465 million refinancing loan for the Fashion Centre at Pentagon City, its adjacent Metro Tower office building, and the Ritz‑Carlton hotel. The five‑year, interest‑only loan, originated by Goldman Sachs,...
OpenAI Leases 5-Building Mountain View Office Campus
OpenAI leased a five‑building, 450,000‑square‑foot campus in Mountain View, California, after owners KKR Real Estate Finance Trust and TMG Partners upgraded the site with dining options and a two‑acre amenity zone. The move follows a series of recent Bay Area...
CIM Hits Celebrity-Backed Goodtime Hotel With $150M Foreclosure Suit
CIM Group has filed a $150 million foreclosure lawsuit against the owners of Miami Beach’s Goodtime Hotel, alleging default on a loan that was originally $164 million and later reduced to $152 million. The hotel, a 266‑room property developed by Eric Birnbaum, Michael...
David Simon, Who Built Retail REIT Into Sector Giant, Dies At 64
David Simon, the long‑time CEO and chairman of Simon Property Group, died at 64 after a battle with cancer. His son, Eli Simon, who was chief operating officer, has been named CEO, while Larry Glasscock assumes the role of non‑executive...
With Rates And Costs High, LA Multifamily Investors Shift From Ground‑Up To Preservation Plays
With interest rates climbing since 2022, Los Angeles multifamily investors are shifting from new construction to preserving existing affordable assets. Companies like Impact Housing and Turner Impact Capital are pivoting toward naturally occurring affordable housing and stabilized properties to mitigate financing...
