Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. Today, we learn about how data centers made Northern VA the top CRE market and the largest IOS loan ever.
Together with
Today’s issue is sponsored by DealNav - the simple and affordable CRM and deal management tool with easy interface and integrated map.
NOVA: Northern Virginia was top CRE market in H1 due to data center deals. Read more here.
LOTS OF LOTS: Realterm, Starwood Property Trust co-originate $672M loan — largest ever — for industrial outdoor storage portfolio refinancing. Read more here.
POWERLESS: Largest grid operator in US asks federal regulators to require data centers to add capacity or have power supply cut. Read more here.
THE REIT STUFF: Rexford Industrial Realty plans to sell $1.5B industrial portfolio to pay off debt. Read more here.
BOUTIQUE: Japan’s APA Group buys Kimpton La Peer West Hollywood for $63M. Read more here.
BOUTIQUE: Mainsail Lodging & Development sells Epicurean Hotel, Autograph Collection, in Tampa to KHP Partners. PLAYERS: Lou Plasencia, Nick Plascencia, John Plasencia, Christopher Plasencia. Read more here.
LUXURY: LaPour’s plans for JW Marriott location would involve converting Phoenix office tower to luxury hospitality space. PLAYER: Jeffrey LaPour. Read more here.
LUXURY: Sixth Street buys Pier House Resort & Spa in Key West for $190M. PLAYER: Aman Gupta. Read more here.
EXTENDED STAY: A movie theater in Basalt, CO, is being redeveloped into an extended stay hotel. PLAYERS: Ben Moss, Grant Dupart. Read more here.
GOLF CLUB: 1st private golf club in West Los Angeles in more than 50 years set to open. PLAYERS: Sanjay Mattela, Drake Walker. Read more here.
GOLF COURSE: Tiger Woods, Mike Trout team up for $100M golf course in New Jersey. Read more here.
SPORT COMPLEX: Public golf course in Knoxville may become public-private multi-sport complex. Read more here.
MARINA: Blue Cove Capital buys Rock Harbor Marina in Nashville. PLAYERS: Matt Putnam, Andrew Cantor, Dan Grovatt. Read more here.
CAMPGROUND: Streamside Parks buys Sandy Pines Campground in Kennebunkport, ME, for $14.25M. PLAYER: Justin Grimes. Read more here.
→ Make someone’s day. Forward CREalts to clients and colleagues!
Disclaimer: The authors of CREalts are not finance or tax experts. This email is for educational use and not financial advice. Do your own research and consult with professionals before making financial decisions. Our content, which may contain affiliate links and sponsor posts, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information. Past performance of any asset is not indicative of future results.
