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Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. One scroll saves you hours. Today, we learn about Kayne Anderson’s $2.5B RE kitty and the return of a multi-family superstar.
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NEEDS MUST: Kayne Anderson raises $2.5B for needs-based real estate investments such as student and senior housing, as well as medical offices. Read more here.
GLOW UP: Patrick Carroll, the multi-family cowboy, comes clean. Read more here.
RENT RESET: DOJ settles RealPage rent-pricing case without imposing fines. Read more here.
TEX-CELLENT: Fort Worth leads the nation in construction permitting efficiency. Read more here.
IOS: Steel Peak sells 1.53 acre IOS in San Diego area for $7.4M. PLAYERS: Blake Rodgers, Pasha Johnson. Read more here.
IOS: Realterm buys 13.72 acre IOS with truck terminal in Charlotte, NC. PLAYERS: Arnie Capute, Stephen Panos. Read more here.
SMALL BAY: Cushman & Wakefield sells small bay portfolio in Scottsdale, AZ for $62.45M. PLAYERS: Will Strong, Michael Matchett, Molly Miller, Jack Stamets. Read more here.
SHALLOW BAY: Dalfen Industrial expands in West Sacramento with 1.32 MSF logistics acquisition. PLAYERS: Jeremy Hamaoui, Michael Cohen. Read more here.
COLD STORAGE: Lee & Associates sells cold storage facility in Houston. PLAYERS: Tanner KinCannon, Preston Yaggi. Read more here.
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BTR: LanCarte Commercial sells 31 AC in Fort Worth, TX, to NexMetro Communities for BTR community. PLAYER: Sarah LanCarte. Read more here.
BTR: Aventra Partners launches $2M growth capital initiative. PLAYER: Anthony Skaria. Read more here.
STUDENT HOUSING: Newmark sells 544-bed student housing complex serving Oklahoma State University. PLAYERS: Ryan Lang, Jack Brett, Ben Harkrider, Mallory Rodriguez. Read more here.
STUDENT HOUSING: LV Collective and Kayne Anderson acquire College Station complex near Texas A&M. Read more here.
SENIOR HOUSING: CareTrust acquires 3 Texas senior living communities in $40M launch of new SHOP platform. PLAYER: James Callister. Read more here.
➡ Want deeper insights on housing alts? Subscribe to BTR List and Student Housing Daily.
MED OFFICE: Newmark sells Mareblu Medical Center in Orange County, CA. Read more here.
MED OFFICE: Matthews brokers $10.8M sale of Texas Children’s Pavilion for Women in Austin, TX. PLAYERS: Rahul Chhajed, Michael Moreno, Tyler Swade. Read more here.
MED OFFICE: Hammes raises $445M to expand healthcare real estate fund beyond target. Read more here.
DISTRESSED: Cannon Hill and TriPost launch JV to target distressed office deals in major East Coast markets. PLAYERS: Eric Rubin, Jeff Gronning, Melissa Donohoe. Read more here.
DISTRESSED: Lone Star targets discounted San Francisco tower formerly linked to WeWork. Read more here.
➡ Want deeper insights on office alts? Subscribe to Med Office List.
EXTENDED STAY: HAP acquires Hyatt House in Atlanta in strategic extended-stay expansion. Read more here.
EXTENDED STAY: Southside’s Sonesta Simply Suites sells to Noble Investment Group for nearly $4M in Jacksonville, FL, deal. Read more here.
CASINO HOTEL: Realty Income Corp. buys $800M stake in Blackstone-owned casino and hotel in Las Vegas. PLAYER: Sumit Roy. Read more here.
CASINO HOTEL: New York state set to award 3 new casino licenses. Read more here.
DATA CENTER: Trammell Crow plans $21B, 12 MSF Georgia data center in massive Forsyth proposal. Read more here.
DATA CENTER: Equinix plans $835M data center in western Dallas. Read more here.
DATA CENTER: Pittsburgh region coal plant acquired for massive planned data center. Read more here.
DATA CENTER: Google looks to space as the final frontier of data centers. Read more here.
CRYPTO MINING: NIP Group to buy crypto mining fleet in share-funded deal. Read more here.
➡ Want to go deeper on InfoTech alts? Subscribe to Data Center View.
NET LEASE: Four Corners Property Trust buys New York VCA Animal Hospital in $5.8M net-lease deal. Read more here.
C-STORE: Brew Oil buys 13 convenience stores and one smoke shop in Iowa from Danlee Corp. Read more here.
DESTINATION RETAIL: Piatt Cos. breaks ground on $740M Esplanade megaproject in Pittsburgh after decade of planning. Read more here.
DESTINATION RETAIL: Torburn Partners brings Holly Cohen aboard to shape Florida’s Sarasota Square revival. PLAYERS: Holly Cohen, Michael Burns. Read more here.
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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.
