July 15 - Why Harrison Street is betting big on alts

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ALT STRATEGY: Why Harrison Street is betting big on alts. According to Co-founder, Chairman, and CEO Christopher Merrill, “Sectors like student housing, senior housing, medical office, and self-storage have demonstrated their resilience, scalability, and long-term relevance.”

STUDENT HOUSING: Robot helper debuts at NC State University. D.O.N.N.A., an AI-assisted humanoid robot from The Preiss Co., can enhance resident experiences and support staff with smart, responsive tech.

FED OFFICES: CIA’s “secret” office purchase revealed. DOGE who? The CIA recently bought a $246.6 million office building in Northern Virginia’s Dulles Discovery campus, expanding its footprint near its Langley headquarters.

DATA CENTERS: Blackouts a growing risk of data centers. A Department of Energy report warns U.S. blackouts could increase 100-fold by 2030, pressing commercial real estate owners to prioritize energy resilience amid soaring electricity demand from data centers and electrification.

SMALL BAY, BIG TRADE: Stonelake Capital sells small/shallow bay portfolio for $920M. Stonelake Capital Partners completed $920 million in sales across 91 industrial buildings totaling 7.6 million square feet, reflecting its focus on light industrial assets in high-demand Sunbelt markets.

SENIOR HOUSING: Macquarie launches senior housing platform. Macquarie Asset Management has introduced Health Wave Partners, a new senior housing investment platform targeting modern assets to meet growing demand from an aging population and undersupply challenges.

BTR: Investors eye opportunities amid housing market correction. Smaller cities such as Wilmington, NC; Chattanooga, TN; and Durham, NC are experiencing build-to-rent pipelines that have doubled compared to pre-pandemic levels, without facing the same oversupply issues.

BTR: Tricon Sunridge nears completion. Sares Regis and Blackstone-backed Tricon Residential are set to open Tricon Sunridge, a 114-unit solar-powered build-to-rent community in Rancho Cordova, reflecting strong growth in Greater Sacramento’s rental market. Subscribe to BTR List.

STUDENT: CRG, Shapack launch 625-bed student housing. CRG and Shapack Partners will build a 183-unit, 625-bed student housing tower near the University of Michigan, set to open in 2027 with extensive amenities and retail space. Subscribe to Student Housing Daily.

MANUFACTURED: Montauk trailer listed for $2.5M. A rare oceanfront manufactured home in Montauk Shores — a once-modest trailer park turned luxury enclave — is now asking $2.49 million, reflecting soaring demand for affordable beachfront access in the Hamptons.

SELF-STORAGE: SmartStop added to the Russell 2500 Index. The news follows SmartStop’s (SMA) April 2025 NYSE listing, marking a significant milestone in the company's growth as a publicly traded enterprise.

IOS: Cooper Horowitz arranges $150M loan for IOS portfolio. Cooper Horowitz has sourced a $150M financing loan for a stabilized portfolio of 29 IOS properties owned by Triten Real Estate Partners and TPG Angelo Gordon. The portfolio stretches across 6 states and totals 255 acres. Subscribe to IOS List.

SHALLOW BAY: Town Lane acquires 2.75M SF portfolio in Raleigh-Durham. Town Lane has purchased a 55-building, 2.7M SF shallow bay industrial portfolio from Corebridge and Equus in Raleigh-Durham, including nearly 40 acres for future development.

SMALL BAY: Cove Capital closes small bay industrial deal in Dallas. Cove Capital acquired a 100% leased, debt-free small bay industrial asset in Wylie, Texas. Subscribe to Small Bay List.

COLD STORAGE: Cold storage market to more than double by 2034. The refrigerated warehousing and storage market is expected to grow from $182.2 billion in 2025 to $426.1 billion by 2034 at a 9.9% CAGR, driven by rising demand for perishables, pharmaceutical growth, and AI-driven automation. Subscribe to Cold Storage List.

LIFE SCIENCE: Alexandria RE - the REIT that nobody seems to want, but should. Despite oversupply and sector headwinds, a bullish take on the company’s unique position.

MED OFFICE: Medicaid deal boosts healthcare REITs. Senate Republicans scaled back Medicaid cuts in the revised tax bill, stabilizing funding for hospitals and senior housing. Subscribe to Med Office List.

CO-WORKING: Carr Workplaces relocates to One Embarcadero. Carr Workplaces is relocating its co-working space to One Embarcadero Center, offering upgraded flexible offices, new coworking desks, and wellness-focused amenities — including child care — in San Francisco’s Financial District.

CO-WORKING: WeWork leases new Manhattan location. WeWork seeks to meet growing demand by offering 8 stories of co-working space in a building located across from New York City Hall.

QSR: Taco Bell expands Live Más Cafe concept. Taco Bell will expand its drink-centric concept, Live Más Cafe, to 30 more locations by 2025 as part of a $5 billion beverage growth push. Young consumers pivoting from alcohol to experiential sodas?

DISTRESSED: Retail collapse sparks adaptive reuse boom. A surge in retail closures is accelerating the shift toward adaptive reuse and logistics-focused real estate. As legacy chains collapse, investors pivot to self-storage, healthcare conversions, and e-commerce infrastructure to capture long-term value.

QSR: Fatburger to add 40 Florida locations. FAT Brands has inked a deal with franchisee Whole Factor Inc. to open 40 new Fatburger locations across Florida, expanding on its momentum in the state following a successful return in 2021.

Follow ReTwit celebrity Chad Griffiths here and here. And check out his Industrialize book. Highly recommend!

DATA CENTERS: Data center REITs expand amid AI boom. Digital Realty and Equinix are aggressively scaling capacity, but they face structural risks tied to “hyperscaler” contract volatility and supply-chain constraints. Subscribe to Data Center View.

DATA CENTERS: QTS closes $1.3B data center CMBS. QTS has secured a $1.3B refinance loan backed by fully-leased data centers in Atlanta and Richmond, signaling both investor confidence in the asset class and Blackstone’s continued dominance in scaling global data center platforms.

DATA CENTERS: Smart tools reshape data center site selection. As data center demand soars, developers are turning to advanced site intelligence tools like Cushman & Wakefield’s Athena and LightBox’s analytics platform to navigate complex utility, zoning, and ESG constraints.

SOLAR: Tax credit phase-out sparks renewables rush. The Senate’s proposed phase-out of wind and solar tax credits is triggering a rush to start projects by 2025, creating both urgency and opportunity for investors.

BATTERY: Peregrine Project powers California’s grid future. Arevon Energy’s Peregrine Energy Storage Project in Barrio Logan uses advanced lithium iron phosphate (LFP) batteries to enhance grid stability and support California’s renewable energy goals.

SOLAR: Meta and Envenergy expand solar partnership. Meta and Invenergy have signed four new agreements totaling 791 MW of solar and wind power to support Meta’s data center expansion and clean energy goals. The partnership now controls 1,800 MW.

STR: Casago expands rental footprint across California. Casago has grown its presence in California’s vacation rental market by acquiring former Vacasa properties, boosting tourism options and strengthening the local economy.

BOUTIQUE: Tinder co-founders acquire iconic El Encanto. Tinder co-founders Justin and Tyler Mateen, alongside travel advisor Garrett Cayton and Culver Capital, have acquired the historic El Encanto Hotel in Santa Barbara for $82.2 million.

EXTENDED STAY: DSH facilitates Jacksonville Candlewood Suites sale. DSH Hotel Advisors has facilitated the sale of the 61-room Candlewood Suites Jacksonville-Mayport to Butler Lodging LLC, marking the firm's third hotel closing in Jacksonville in 2025 and highlighting strong market momentum.

RV Storage: Outrig expands Texas RV and boat storage. Outrig expands its national portfolio with two premier RV and boat storage facilities acquired in Fort Worth and Corpus Christi, Texas, enhancing amenities and security for outdoor recreation enthusiasts.

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