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Preview: Watch List Commercial Real Estate News From CoStar Group

Watch List 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


Prudential Raising up to $2 Billion for US CRE Debt Fund

Tue, 20 Mar 2018 02:24:44 GMT

PGIM Real Estate, the asset management arm of Prudential Financial Inc. (NYSE: PRU), is in the market raising money for its PGIM Real Estate US Debt Fund. PGIM said it expects to raise about $2 billion over a three-year period. Once fully invested, PGIM expects the fund to hold about 65 debt investments at any given time. Target strategy returns are in the range of 7% to 8% gross, which translates to 6.25% - 7.25% target net returns, according...

Torchlight Raises $660 Million for Latest Debt Fund

Mon, 19 Mar 2018 05:59:28 GMT

Torchlight Investors has reported raising $661 million of its ninth institutional value-add / opportunistic fund, according to a Securities & Exchange Commission filing. Called Torchlight Debt Opportunity Fund VI, the fund is targeting investments in commercial real estate, including senior and mezzanine loans, commercial mortgage backed securities, and other real estate related investments. The fund is targeting a maximum fund-level leverage...

FPA Launches Fourth Core Multifamily Investment Fund

Mon, 19 Mar 2018 03:22:05 GMT

FPA Multifamily LLC has launched its fourth core plus fund shooting for a fundraising target of $650 million. FPA Core Plus Fund IV has raised about $300 million to date. San Francisco-based FPA is led by managing principal Greg Fowler, who started firm 35 years ago and has now completed over $10 billion in transactions. It currently operates a portfolio of approximately 25,000 apartment units valued at $3.5 billion.

Specialty Retailer Claire's Files for Chapter 11

Mon, 19 Mar 2018 01:08:51 GMT

Claire's Stores Inc. this morning filed to pursue a Chapter 11 bankruptcy financial restructuring in order to eliminate a substantial portion of its $1.9 billion in debt outstanding. The filing follows its decision last week to defer a debt payment due March 15. The Chicago area-based company's management said it is confident that, through the restructuring process, Claire's will cement its position as a leading specialty retailer of jewelry...

Southeastern Grocers to Close 94 Stores, File 'Pre-Packaged' Ch. 11 as Part of Restructuring Agreement with Lenders

Fri, 16 Mar 2018 02:20:03 GMT

Following a months' long review of how to reduce its debts, Jacksonville-based Southeastern Grocers has chosen to file for Chapter 11 bankruptcy reorganization. As part of this restructuring, it has decided to close 94 underperforming stores across the South, 35 in Florida, 19 each in Georgia and South Carolina, 10 in Alabama, nine in North Carolina, and one each in Mississippi and Louisiana. "We have not taken these steps without careful planning...

End of the Line for Toys R Us as Retailer Plans to Close Remaining Stores Totaling About 38M-SF

Thu, 15 Mar 2018 03:38:46 GMT

Beloved by kids and landlords but largely shunned by consumers this past holiday shopping season, Toys R Us officially announced this morning that it was calling it quits and would wind down operations, closing its remaining 735 stores in operation encompassing an estimate 29.3 million square feet of mostly big box retail space. The Wayne, NJ-based toy retailer had already closed or planned to close 8.5 million square feet of its brick and mortar...

Fed Sees Record Fourth Quarter Flow of Funds into Multifamily Sector

Thu, 15 Mar 2018 03:19:53 GMT

Even as analysts wonder how much momentum remains behind the long run in the current multifamily 'golden age,' the sector remains awash in capital after a record amount of money flowed into the multifamily sector in the fourth quarter to cap a record year. All told, capital sources pumped $174.9 billion into multifamily debt in the fourth quarter of 2017, according to Federal Reserve data released this past week. That was $46 billion more than...

Atlantic Housing Foundation Refinances 3,500-Unit Portfolio

Wed, 14 Mar 2018 05:09:48 GMT

Dallas-based Atlantic Housing Foundation has refinanced a portfolio of affordable and student housing properties it owns in Texas, Florida and South Carolina. Hunt Mortgage Group provided $187 million in financing. The portfolio consists of more than 3,500 units of affordable and student housing in 16 properties. Many of the units are affordable to tenants at or below 60% of the area median income where the properties are located. The sponsor...

UK's NW1 Partners Forms Washington DC Retail Venture

Wed, 14 Mar 2018 03:40:25 GMT

David Boyle, Managing Partner at NW1 Partners. (Credit: NW1 Partners) London-based NW1 Partners has closed fundraising for a new venture that plans to invest in Washington DC retail real estate. NW1 Washington DC Urban Retail Venture, which is targeting $175 million in total investments, said it is assembling a portfolio of urban retail assets in several suburban markets. The investment firm has partnered with Martin-Diamond Properties (MDP)...

Blackstone Acquires Stake in Rockpoint Group

Tue, 13 Mar 2018 09:22:05 GMT

Blackstone (NYSE: BX) has acquired a passive, minority equity stake in Rockpoint Group LLC, a Boston-based global real estate investment management firm. The private equity firm tapped its Strategic Capital Holdings Fund to make the investment. Terms of the transaction were not disclosed. The stake in Rockpoint puts Blackstone into the mix for a potential deal to acquire Starrett City, a 5,881-unit, federally subsidized, affordable housing community...