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  • Anbang May Benefit From Capital Flowing Into Luxury Hotel Properties

    Monday August 20, 2018

    Mack Real Estate Credit Strategies provided $290 million to refinance Manhattan at Times Square Hotel. A $503 million refinancing over the past week for three prominent hotels in New York, Miami and Washington, D.C., signifies there is no shortage of capital willing to finance luxury hotels across the country. That could help China's Anbang Insurance Group if it moves ahead with marketing a $5.5 billion portfolio of similar high-quality hotels... Read More

  • Pimco Joins Crowded Field for Direct Commercial Real Estate Lending

    Friday August 17, 2018

    Pimco headquarters in Newport Beach, California. The growing U.S. investment pool for financial commercial real estate lending just expanded by another $3 billion as bank and non-bank lenders including investment management giant Pacific Investment Management Co., known as Pimco, broaden their offerings to tap strong demand. Pimco officially launched a real estate debt fund while insurer MetLife and bank holding company State Street Corp. kicked... Read More

  • Suburban Offices Draw Renewed Interest From Commercial Mortgage-Backed Securities Lenders

    Thursday August 16, 2018

    Investor TPG acquired Millennium Corporate Park, a six-building suburban office portfolio in Redmond, Washington, last month for $153.49 million.Suburban office properties are drawing renewed interest from commercial mortgage-backed securities lenders this summer, highlighted by two significant offerings being prepared for funds managed by major institutional investors Brookfield and TPG. The two new single-borrower offerings are projected to total... Read More

  • MedEquities Realty Trust Positions Itself To Catch a Record Mergers Wave

    Wednesday August 15, 2018

    MedEquities Realty Trust, which bought the Southern Indiana Rehabilitation Hospital in New Albany, Indiana, this summer for $23.4 million, is exploring a potential merger. Mergers and acquisitions involving real estate investment trusts are on a record pace this year, with about $68 billion in deals announced in the first seven months. That rate shows no signs of slowing after health care REIT MedEquities Realty Trust said it's exploring a possible... Read More

  • Angelo Gordon Raises $1.9 Billion for its Latest Real Estate Fund

    Tuesday August 14, 2018

    Angelo Gordon's latest purchase of a property with an eye toward improving returns is a portfolio of the six-building Centre Pointe park in Walnut Creek, California, last month for $21 million.Alternative investment firm Angelo Gordon & Co. launched a real estate fund with a combined $1.9 billion targeting assets where it will try to boost financial returns, tapping demand for underperforming properties. AG Realty Value Fund X has garnered individual... Read More

  • U.S. Toughens Criteria for Some Foreign Investment in Real Estate

    Monday August 13, 2018

    A deal by China’s Anbang Insurance Group to purchase the landmark Hotel del Coronado in San Diego near a major naval base was called off in 2016 following opposition from the U.S. Committee on Foreign Investment in the United States.International real estate investors could have another hoop to jump through with President Donald Trump signing into law the National Defense Authorization Act. The new law contains the Foreign Investment Risk Review... Read More

Alabama Commercial Real Estate News

  • Rising Home Sales May Threaten Multifamily Gains in Alabama

    Friday August 17, 2018

    The Waites apartment building in Birmingham. As home sales begin to rise across the state, multifamily occupancy and rent gains may be in trouble. Since 2010 Alabama, like many other states, has seen a large amount of multifamily development. Total inventory has expanded by more than 11 percent. Compare this to office, retail and industrial increases, which all sit at around 5 percent, and it is easy to see that the focus of developers has clearly... Read More

  • Investors Feeling Mobile with $134.3 Million Multifamily Buy on Alabama's Gulf Coast

    Thursday August 16, 2018

    A quintet of apartment properties in Alabama's preeminent port city has fetched $134.3 million. Spruce Capital Partners, of New York, and Post Road Group, of Stamford, Connecticut, acquired the five property, 1,972-unit portfolio in Mobile late last month. Cushman & Wakefield’s team headed by Jimmy Adams and Craig Hey brokered the deal for Colony Hills Capital, of Wilbraham, Massachusetts, which paid $98 million, or nearly $50,000 per unit, for... Read More

  • MLSN Mortgage Group Pays $3.1M for Birmingham Multifamily Complex

    Thursday August 16, 2018

    The 56-unit Places at Red Rocks apartment complex in Birmingham. Deerfield, Illinois-based MLSN Mortgage Group purchased a 56-unit apartment complex in Birmingham from Abaco Partners. Places at Red Rocks sold for $3.06 million, or about $55,000 per unit. The garden-style complex at 1534 17th St. comprises one- and two-bedroom units ranging from 512 to 1,096 square feet in four, three-story buildings. The 93 percent occupied property spans... Read More

  • Zarzour Cos. Acquires 107,000-SF Mobile Office Park

    Friday August 10, 2018

    The 42,850-square-foot One Office Park building in Mobile, Alabama. Zarzour Cos., a local investment firm, purchased a three-building, 106,750-square-foot office park in Mobile, Alabama from Baton Rouge-based Boulle' Enterprises. Mobile Office Park sold for $5.05 million, or about $47 per square foot. The three- and five-story structures at 3929 Airport Blvd. were built in 1965 and renovated in 2009. The Class B buildings span nearly two... Read More

  • Global Defense Company Expands in Huntsville with $45.5M Project

    Friday August 10, 2018

    Rendering of the new BAE Systems facility at 400 Jan Davis Dr. in Huntsville, Alabama. BAE Systems, a global defense, aerospace and security company, announced it will expand its operations in Huntsville, Alabama, with a new 83,000-square-foot industrial building. Construction on the $45.5 million facility at 400 Jan Davis Dr. is slated to begin later this year. The building, which is expected to create hundreds of new jobs, will consist of... Read More

  • Savannah Rentals Go for $50 Million

    Thursday August 09, 2018

    A suburban Savannah, Georgia apartment complex has sold for just under $50 million. B&M Management, a Montgomery, Alabama apartment shop, closed on Two Addison Place in Pooler, Georgia two weeks ago. It paid $49.75 million, or $153,000 per unit, for the 325-apartment complex. David Gutting and Jim Sewell of Jones Lang LaSalle brokered the deal for the seller, Wharton Equity Partners of New York, which have owned it since 2014. The garden-style... Read More