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Commercial Real Estate News

In this section we've added RSS feeds from several commercial property news sources.

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CoStar
A major multi-property lease renewal deal between SunTrust Banks Inc. and American Finance Trust, a non-traded net lease REIT, offers insight on how the ongoing bank branch consolidation may affect owners of bank branch retail property in coming years. Under the deal, 20% of American Finance Trust's 213 individual SunTrust bank branches will lose a tenant. At the same time, the lease renewal agreement removes a lot of uncertainty for American Finance...
CNL Growth Properties Inc., one of several non-traded REITs managed by Orlando-based CNL Financial Group, has decided to liquidate all of its multifamily properties and dissolve the company after completing a review of strategic options. In a letter to shareholders CNL said it planned to maximize stockholder value by selling all of its assets, paying off its debts and distributing the net proceeds to stockholders. The nontraded REIT’s board approved...
Reporting from the floor of the year's biggest retail real estate event, ICSC's RECon 2016, taking place this week at the Las Vegas Convention Center, where at least 37,000 retailers, retail brokers, investors and other purveyors of mass consumption have gathered. And while the general mood is upbeat, RECon attendees express uncertainty and even anxiety over the scope of changes facing landlords, brokers and their retail tenants. "The one thing...
Western Wealth Capital Ltd., a Vancouver, Canada-based multiple-unit rental property investment firm, has become quite active in the Phoenix multifamily market this month. This week, it has acquired the Greater PHX IV Portfolio, a four-property, 748-unit, real-estate-owned portfolio for $41.5 million (about $55,480/unit). Last week it acquired 300 of the 440 total units in Signature Place Condominiums in Tempe, AZ, for $40 million (about $133...
An affiliate of RXR Realty LLC and David Werner Real Estate acquired the UBS building at 1285 Avenue of the Americas in New York City from AXA Financial, Inc., advised by AXA Investment Managers - Real Assets, and institutional investors advised by J.P. Morgan Investment Management, Inc., for $1.65 billion, or about $917 per square foot. Immediately after the sale, RXR signed lead tenant UBS to a long-term lease renewal with the financial services...
      
National Real Estate Investor
The rate of U.S. hotel revenue growth is slowing, MultiHousing News reports. Developers and landlords are targeting 'retailtainment' attractions for shopping centers, according to Chain Store Age. These are among today's must reads from around the commercial real estate industry.

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The new need for speed means retailers need more warehouses in more locations.

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CBL & Associates Properties Inc. fell as much as 12 percent after a published report said the U.S. retail landlord is being investigated for accounting fraud.

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Here’s what we took away from conversations with show attendees on Tuesday.

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Ares Capital Corp., the publicly traded lender managed by alternative-investment firm Ares Management LP, will acquire American Capital Ltd. for $3.4 billion.

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Wall Street Journal
Howard Hughes Corp. is redeveloping 60 acres between downtown Honolulu and Waikiki, with plans to transform a low-density shopping and industrial area to residential and park space with potentially more than 20 towers.
A rise in U.K. commercial real-estate lending last year has pushed the total amount of outstanding property debt higher for the first time since 2008.
The funds are placing a large number of ‘short’ wagers on Australia’s biggest banks, among the world’s most profitable, suggesting the lenders might be headed for trouble.
The sovereign-wealth fund of Bahrain on Thursday bought a 49% stake in a portfolio of seven office buildings spread between Phoenix and Dallas.
The Port Authority of New York and New Jersey has reached a deal to end an $87 million payment dispute with a Canadian construction firm that helped build One World Trade Center.
      
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