The Trepp CMBS Delinquency rate inched up in February, rising five basis points overall to 4.71%. Year over year, the overall U.S. CMBS delinquency rate is up 159 bps. In the closely watched office segment, delinquencies rose 33 bps in…
The fourth Drift Hotel has opened, the latest, in Nashville. TMC Hospitality opened the first Drift hotel in San Jose del Cabo in 2021, followed by Santa Barbara and Palm Springs. The 87-key hotel has spacious multi-room suites, a ground-level pool…
Ackerman & Co. has experience turning old brick warehouses into thriving mixed-use developments. Along with MDH Partners, Ackerman developed the Lee + White project along Atlanta’s Westside Trail which contains restaurants, breweries and office space. The company has purchased another…
The Port of San Diego’s planning for the “future of the Port,” formally known as the Port Master Plan Update (PMPU), has reached a major milestone with the Board of Port Commissioners’ unanimous certification of the Final Program Environmental Impact…
Red Rock Developments has put off building a six-building, 2.6 million square business park in Rowan County, blaming market conditions. The Charlotte Business Journal reports the group is now ready to move forward on the project that has received a…
Gwinnett County and CBRE are working together to redevelop the decaying Gwinnett Place Mall. The county bought most of the Gwinnett Place Mall property for $23 million in April 2021. In February 2023, Gwinnett County Board of Commissioners approved a plan to…
New York City-based pharmaceutical giant Pfizer Inc. has stopped its $350 million manufacturing plant project in Everett, marking a pivot in the company’s strategic expansion after its $43 billion acquisition of Bothell-based Seagen. The Everett facility, located at 215 Shuksan…
Arctaris Impact Investors, LLC, a Boston-based impact investment firm that supports revitalization projects in underserved communities, made a lead equity investment in Liv DTLA, a $67-million market-rate affordable housing development in the South Park neighborhood of Los Angeles. The transaction…
NexPoint Residential Trust closed on the sale of Old Farm in Houston, a 734-unit property built in 1996. The property was acquired for $84.7 million in 2016. As of March 1, 2024, the property was 91.41% leased with a weighted average effective monthly rent…
A partnership has gobbled up enough land to start work on a Boynton Beach industrial facility. Butters Construction & Development and Channing Corp. have completed their assemblage of 47.2 acres in the Agricultural Reserve west of Boynton Beach. The S….
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