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Preview: National Commercial Real Estate News From CoStar Group

National Commercial Real Estate News From CoStar Group

CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of


What's Ahead for Non-Traded REIT Sector? Rebound Expected in 2018 Driven by Large Institutions, Small Investors Alike

Fri, 08 Dec 2017 12:40:00 GMT

Nonlisted REIT Griffin Capital Essential Asset REIT, Inc. traded the 460,000-square-foot DreamWorks headquarters and studio campus in Glendale, CA to a South Korean investor 10 days ago for $290 million. The amount of funds raised by non-traded REITs is expected to hit a 15-year low for 2017 amid increased federal regulatory scrutiny and pressure on companies to reduce their fee structures and increase transparency into their operations. At least...

Newmark Knight Frank Parent Firm Ready to Shop $615 Million IPO

Wed, 06 Dec 2017 07:48:40 GMT

Newmark Knight Frank headquarters at 125 Park Ave. in New York City. Newmark Group, Inc., a commercial real estate and advisory firm that includes brokerage Newmark Knight Frank (NKF), has set terms for an initial public offering aimed at raising $615 million. Newmark, backed by NKF parent firm BGC Partners, Inc. (NASDAQ: BGCP), announced this week it will launch its "road show," a series of presentations to analysts, fund managers and other...

Feds See Smaller Multifamily Finance Market in 2018

Tue, 05 Dec 2017 11:15:49 GMT

Following two years of increased originations, the Federal Housing Finance Agency (FHFA) is lowering its projections for the multifamily lending market in 2018. FHFA, which oversees Freddie Mac and Fannie Mae, announced that the 2018 multifamily lending caps for each government-sponsored enterprise will be $35 billion. That is down from $36.5 billion in 2017. The 2018 limit returns to the same lending cap set in 2015 and reflects the FHFA's expectations...

Implications of a Tight Office Market and Amazon’s HQ2

Mon, 04 Dec 2017 09:46:41 GMT

Since early September the real estate world has been enthralled by Amazon’s search for a second home, and justifiably so. The new co-headquarters is being billed as opportunity to bring more than 50,000 full-time jobs to the winning metro, a tantalizing prize for any governor or mayor. Nearly 240 cities raced to meet the RFP’s response deadline by mid-October focused on fulfilling all its requirements, but which ones make the short list? To answer...

CRE Industry Focused on Tax Cuts for 'Pass-Through' Entities as Tax Reform Enters Final Stretch

Mon, 04 Dec 2017 08:23:26 GMT

The U.S. Senate and House of Representatives have started work to reconcile differences between their two tax bills, including the timetable for reducing the corporate tax rate from 35% to 20%. Of special interest to commercial real estate investors is how the final legislation will tax so-called "pass-through" entities such as sole proprietorships, partnerships, limited liability companies and S corporations. Tax treatment of pass-throughs is...

Harbor Group Acquires 9,677-Unit Apartment Portfolio in $1.8 Billion Deal from Lone Star

Mon, 04 Dec 2017 01:51:28 GMT

The 696-unit Gardencrest Apartments in Waltham, MAHarbor Group International has acquired a 25-property, 9,677-unit multifamily portfolio spanning five metropolitan areas from affiliates of Lone Star Funds. The $1.8 billion transaction (about $186,000 per unit) is the company’s largest to date and increases Harbor Group's investment portfolio from $5.2 billion to $7.1 billion. The properties are located in the Washington DC, Philadelphia, Baltimore...

Brookfield Makes Big Buy in Houston, Acquires 4.2M-SF Houston Center Office/Retail Complex

Mon, 04 Dec 2017 11:56:24 GMT

Continuing to add to its Houston holdings, Brookfield Asset Management, an institutional investment firm based in Canada, closed on its purchase of Houston Center, a 4.2 million-square-foot office and retail complex in downtown Houston from J.P. Morgan Asset Management. Houston Center is billed as the largest commercial property in Houston's central business district. It covers a 9.2-acre, 6.5-block site and includes five properties along Fannin...

CoStar's People of Note (Dec. 1) - Mobley Named CEO at Cushman, CBRE's Schoppmann and CBC's Abdo Promoted...

Fri, 01 Dec 2017 07:20:40 GMT

The following companies announced personnel moves this week: Cushman & Wakefield, CBRE, CBC Advisors, IRR, Hold-Thyssen, Schuckman Realty, Lloyd Jones Capital and SVN Parsons.img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;} img.ponthree{display: block; padding: 5px; width: 60%; max-width:510px...

Lickerman Steps Down, Mobley Named CEO for Americas at Cushman & Wakefield

Fri, 01 Dec 2017 02:24:56 GMT

From left, incoming Cushman Americas CEO Shawn Mobley; Michelle Hay, global head of human resources and John Forrester, global president. Credit: Cushman & Wakefield Cushman & Wakefield announced today that Tod Lickerman, who was named CEO of the Americas in a major realignment of the brokerage's senior leadership just over a year ago, has left the company and will be replaced by Shawn Mobley, who most recently served as president of the company...

Which Companies Carry the Highest Value in Leases for US Office and Industrial Real Estate?

Thu, 30 Nov 2017 08:11:41 GMT

The top 1,000 corporate, government and institutional occupiers in the U.S. hold leases worth an aggregated rent value of more than $135 billion, encompassing just over 8.4 billion square feet of office, industrial and flex space across about 115,500 properties, according to a recent analysis of CoStar Group tenant data. The study ranks occupiers by the current value of rents paid across their U.S. real estate portfolios in CoStar's database. Total...

Pension Deal Frees Up Sears to Sell 138 Properties

Thu, 30 Nov 2017 04:45:25 GMT

In its third quarter earnings announced this morning, Sears Holdings Corp. (NASDAQ: SHLD) reported that it has negotiated a deal with the federal government that will free up the potential sale of additional stores with a property value of more than $400 million. Earlier this month, the U.S. Pension Benefit Guaranty Corp. and Sears reached a new agreement that calls for Sears to pay $500 million into two pension plans, including contributions already...

RioCan to Sell Seven Canadian Tire-Anchored Properties in $200 Million Deal

Tue, 28 Nov 2017 06:45:12 GMT

Canada's largest real estate investment trust has pulled the trigger on a $200 million deal, the first move in a plan to sell $2 billion in assets that will refocus RioCan REIT on six core markets. Toronto-based RioCan will sell seven retail properties to CT REIT, the real estate arm of Canadian Tire, which is the anchor tenant of the properties being sold. The annualized income from the properties is $12 million, based on the first nine months...