Newsline

Apollo Commercial Real Estate Finance (ARI) announced the company has entered into a definitive agreement with Athene Holding to sell the company’s entire approximately $9 billion commercial real estate loan portfolio for a purchase price based on 99.7 percent of total loan commitments, net of asset specific CECL reserves, except for two loans with a combined total principal balance of $146 million expected to be repaid prior to closing.

Berkadia announced the establishment of Berkadia special situations team, led by Kyle Stevenson.

L&G has appointed Tim Morris and Philipp Westermann, co-managing partners of Proprium Capital Partners, as global co-heads of real assets.

Griffin Capital has recently released a report titled, “Institutional Ownership of Single-Family Homes, Homeownership Affordability, and the Role of Build-to-Rent,” to give an evidence-based perspective on the Executive Order to restrict institutional purchases of single-family homes, and why housing affordability is primarily a supply-and-cost-of-ownership problem, not an investor-competition problem.

Kaitlyn Furey has become senior vice president, head of investor relations at Buckingham Companies, a fully integrated real estate investment firm specializing in the development, acquisition, management and construction of multifamily, mixed-use, commercial and hospitality projects across the United States.

Stockdale Capital Partners announced the acquisition of Avant at Fashion Center, a 355-unit luxury mid-rise apartment community in the Phoenix submarket of Chandler, Ariz., for $110.25 million.

The Lubbock Fire Pension Fund (Texas) has committed $4 million to S3 LB Real Estate Credit III, a program of S3 Capital.

The Houston Firefighters’ Relief and Retirement Fund has committed $40 million to Cabot Industrial Value Fund VIII, a vehicle of Cabot Properties.

StepStone Real Estate (SRE) announced that it has added Jennifer Jones to its team as a Partner to help launch S-Core, a platform that will increase SRE’s core/core-plus real estate activities.

The North Dakota Retirement and Investment Office (RIO) has committed $75 million to Ares U.S. Real Estate Fund XI.

The City of Phoenix Employees’ Retirement System (COPERS) has committed $30 million to Focus Senior Housing Fund III, a vehicle of Focus Healthcare Partners, while the Educational Employees Retirement System of Fairfax County (Va.) (ERFC) has committed $8.5 million.

As commercial real estate adjusts to a higher-rate environment and ongoing structural shifts, investors are re-evaluating strategies and seeking opportunities to generate returns in a more complex market. In an exclusive interview with IREI, Josh Morris, a partner and global head of real estate at Davidson Kempner Capital Management (DK), LP, discusses sector and regional dispersion and highlights how investors can identify attractive investment entry points, generate operational alpha, and navigate the evolving risk-return landscape. He also addresses the importance of nimble, data-driven decision-making in today’s market.

Kayne Anderson Real Estate and Mill Creek Residential announced the acquisition of land and commencement of development of Modera Allston, a 240-unit, class A multifamily community located in the Allston neighborhood of Boston, Mass.

Bridge Tower Homes, a Dallas-based residential developer, announced it has entered into a joint venture agreement with Hankyu Hanshin Properties Corp. (HHP), a global real estate company headquartered in Osaka, Japan.

Bascom Northwest Ventures announced the sale of Tempo at Riverpark Apartments.

Cortland, a vertically integrated, multifamily real estate investment, development and management company, has appointed Brad Hamel executive vice president of community operations to serve as Cortland’s senior operator for the national portfolio.

JLL Capital Markets announced that it has arranged $224.3 million in bridge financing for The Italic, a newly delivered, trophy mixed-use residential tower located at 26–32 Jackson Ave. in Long Island City, Queens.

The Canada Pension Plan Investment Board (CPP Investments) has announced its participation in a joint venture with IRA Capital and a global institutional investor to invest in medical outpatient buildings. CPP Investments will hold a 47.5 percent stake in the joint venture.

Faropoint, a tech-enabled real estate investment firm focused on last-mile industrial properties in high population-growth markets, has received $273 million of financing proceeds from a bank syndicate led by Capital One and J.P. Morgan for Project Walk-Off, a 61-asset portfolio of light/infill industrial properties totaling nearly 3.5 million square feet.

Deka Immobilien has acquired an office skyscraper in Montréal, Canada.