Investors | May 1, 2020 Florida SBA commits $375m to opportunistic funds in Q1 by Kali Persall The State Board of Administration (SBA) of Florida has closed two opportunistic real estate fund investments worth $375 million in first quarter 2020.
Research | May 1, 2020 Reductions in demand and occupancy to continue through third quarter by Andrea Zander The hotel industry had severe reductions in demand and occupancy in March, and that weakened performance is expected to continue through third quarter 2020.
Fundraising | May 1, 2020 Nuveen crosses $1b mark for real estate debt fund by Kali Persall IREI has learned that Nuveen Real Estate has raised $1.1 billion for its NPCCT U.S. Core-Plus Real Estate Debt Fund.
Research | May 1, 2020 With April CMBS delinquency rate, Trepp says it’s time to throw out the old measurements by Released April saw a large increase in the CMBS delinquency rate, according to Trepp, and the firm has newly updated fields to include loans categorized as “in grace period” or “beyond grace period.”
Research | May 1, 2020 WorldGBC and GRESB join forces to drive net zero carbon buildings by Released World Green Building Council (WorldGBC) and GRESB have announced a collaboration that will recognize companies who commit to making their portfolios “Paris Proof” by signing WorldGBC’s Net Zero Carbon Buildings Commitment.
Transactions | May 1, 2020 Tokyu Land US Corp. acquires several multifamily properties for $214m by Andrea Zander Tokyu Land US Corp. (TLUS), the U.S. subsidiary of the fully integrated Japanese real estate investment and development company Tokyu Land Corp., has made three acquisitions in the multifamily space, totaling $214 million in sales price.
Transactions | May 1, 2020 Piedmont Office Realty Trust to sell Philadelphia office for $360m by Andrea Zander Piedmont Office Realty Trust has agreed to sell the 801,000-square-foot office building at 1901 Market St. in Philadelphia for $360 million.
Early thoughts on post-pandemic scenarios for commercial real estate by Andreas Calianos Although we are in early days, one certainty remains: Massive and direct fiscal and monetary stimulus will occur at a level and speed previously unseen.
Cashing in by Marek Handzel It is common knowledge that UK retail was already in bad shape before the COVID-19 pandemic. Years of over expansion, rising business rates, growing e-commerce adoption and stagnant wage growth have decimated many once flourishing household brands.
Fundraising | May 1, 2020 Brookfield commits $500m to Fundamental Income’s new net-lease platform by Kali Persall Brookfield Asset Management has poured $500 million into a new net-lease platform launched by Fundamental Income, known as Fundamental Income Properties.
Australia’s response to COVID-19 for property investors by Dinesh Pillutla COVID-19 has heavily affected the Australian A-REIT sector during the past few months. From its peak on Feb. 20, the S&P/ASX 300 A-REIT Index suffered a 49.3 percent decline over the course of only 22 trading sessions to March 23.
People | Apr 30, 2020 Alan Arnold Jr. passes away by Larry Gray Alan Arnold Jr., investment director at Rice Management Company, passed away on April 28, after an 18-month battle with cancer. A
Investors | Apr 30, 2020 Merced County Employees invests in Cerberus Real Estate Debt Fund by Kali Persall The Merced County (Calif.) Employees' Retirement Association (MCERA) is backing the Cerberus Real Estate Debt Fund with a $7 million commitment.
Transactions | Apr 30, 2020 New World Development to sell Hong Kong office for $390m by Andrea Zander New World Development has listed for sale a Hong Kong commercial property at an asking price of HK$3 billion ($390 million).
Investors | Apr 30, 2020 West Virginia IMB commits more than $80m to two real estate funds by Kali Persall The West Virginia Investment Management Board (IMB) committed more than $80 million to two real estate funds in the first few months of the year.
Investors | Apr 30, 2020 OP&F makes first real estate commitment of 2020 by Kali Persall The $14.5 billion Ohio Police & Fire Pension Fund (OP&F) has approved its first real estate investment of the year.
Transactions | Apr 30, 2020 Ping An buys portion of West Kowloon project for $1.5b by Andrea Zander Sun Hung Kai Properties (SHKP) and its controlling shareholder, the Kwok family, have sold 30 percent of the office portion of Hong Kong’s most expensive commercial project.
Research | Apr 30, 2020 Investors eyeing Asia Pacific corporate sale-and-leaseback opportunities as owners look to unlock capital by Released A surge in sale-and-leaseback transactions is expected across Asia Pacific in the second half of 2020 as owners look to unlock fixed capital and generate cashflow, according to JLL.
Transactions | Apr 30, 2020 Reef Group secures €173m planning permission for subterranean Cavendish Square project by Andrea Zander Westminster City Council has approved developer Reef Group’s plans to invest over £150 million (€173 million/$188 million) in Cavendish Square.
Transactions | Apr 30, 2020 CIM Group agrees to purchase 40-acre L.A. regional mall by Andrea Zander CIM Group has acquired the 869,000-square-foot Baldwin Hills Crenshaw Plaza, a regional shopping mall situated on more than 40 acres at 3650 West Martin Luther King Boulevard in the Baldwin Hills/Crenshaw market of Los Angeles.
