Newsline

In a sponsored interview published in the June issue of Institutional Real Estate Americas, LaSalle’s Jen Wichmann, U.S. head of research and strategy, and Russ Ginise, executive managing director and affordable housing portfolio manager, describe  the stable growth, bipartisan support, and nationwide demand that has long characterized the U.S. affordable housing sector, and how a new class of developers, institutional investors and professional operators are taking notice.

In a sponsored interview published in the June issue of Institutional Real Estate Americas, Mike Keating, managing partner, portfolio management, talks about the importance of discipline, difficult conversations and a team mentality for successful portfolio management, and about how healthy debates and sometimes brutal honesty contribute to success in his professional development as a leader, in relationships with investors, and in the collaborative, decisive culture at BGO.

As inflation continues to rise, construction and labor costs are increasing alongside it, further intensifying the U.S. housing affordability crisis. Growing numbers of households are being priced out of both renting and homeownership, forcing some consumers to stretch beyond their budgets or relocate away from major urban centers altogether. Industry participants note that the crisis is not cyclical, but rather the result of deeper structural challenges tied to housing supply, regulation and affordability, requiring coordination between investors, developers and government entities to address.

Commercial real estate transactions have become increasingly driven by deal structure rather than simply the highest bid, as investors focus more heavily on risk-adjusted returns in a more challenging market environment. Industry executives say transactions now require significantly greater rigor in underwriting, execution and capital formation because margins for error are much thinner than in prior years.

In a sponsored report published in the June issue of Institutional Real Estate Americas, Larissa Belova, chief investment officer at UBS Asset Management, and research economist Frances Osei-Bonsu, delineate the persistent advantages commercial real estate holds in comparison to Treasury bonds, how structural shifts present an emerging opportunity for high returns in the sector, and what it will take to achieve them.

The North Dakota State Investment Board has approved a $75 million commitment to S3 Capital LB Real Estate Credit III, L.P., a private credit strategy focused on providing first-lien construction financing to middle-market multifamily developers across the United States.

Canada Pension Plan Investment Board (CPP Investments) has made a €400 million ($468 million) co-investment in Proudreed.

Fidelity International has acquired five logistics assets across the United Kingdom, the Netherlands and France on behalf of its Fidelity Real Estate Logistics Impact Climate Solutions Fund (LOGICs).

The Dermot Co. has secured a new 10-year, $355 million loan to refinance 21 West End Ave., a 48-story, 616-unit apartment community on Manhattan’s Upper West Side.

CenterSquare Investment Management has appointed Doug Carpenter as director, head of data strategy and AI.

Red Oak Capital Holdings has named Jeff Pirhalla as managing director, production.

Centennial CEO Steven Levin has plans to retire on June 30 and is succeeded by President Paul Kurzawa. Levin will continue in an advisory capacity over the next 12 months.

CBRE has released a new brief, “Private Credit Stress: Contained or Contagious?,” examining whether current pressures in private credit could spill into commercial real estate.

April’s employment data reinforced the view that commercial real estate-related hiring remains stable but limited in scope, according to Ryan Severino.

As real estate managers and investors, we are ultimately fiduciaries of capital, responsible for driving both income and asset appreciation. Technology is embedded in nearly every aspect of daily life, yet within property management, its adoption remains uneven and often reactive. With hundreds of companies offering solutions, key questions persist: Which workflows should be prioritized? Where does technology truly drive ROI? And where does it fall short?

Blackstone Digital Infrastructure Trust has priced its initial public offering of 87.5 million shares of common stock at $20 per share.

BlackRock has launched its BlackRock Diversified Alternative Strategies LTAF.

Arrow Capital Partners has completed the acquisition of a logistics facility near Wolverhampton, U.K., for its Strategic Industrial Real Estate joint venture with Cerberus Capital Management.

The cost of building a modern office in the United States and Canada has been structurally reset, with average fit-out costs now reaching $295 per square foot for a medium-quality space, according to JLL’s U.S. and Canada Office Fit-Out Costs Guide 2026, which sampled 50 cities across the two markets.

CenterSquare Investment Management has acquired Philips Highway Industrial Park.