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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 a big bet on an industrial REIT and why big conversion projects are likely to fall under more intense scrutiny.
Today’s issue is sponsored by IndustrialIQ — providing comprehensive analysis and insights for small bay warehouse markets.
THE REIT STUFF: Brookfield, CPP to buy LXP Industrial Trust for $5.2B in all-cash deal. Read more here.
CONVERSION CONVERSATION: Near collapse of former NYC Pfizer building puts heat on other large-scale conversion projects. Read more here.
ALTS LOVE: Investors favor senior housing, data centers, retail strip centers as cap rates of other sectors stay flat. Read more here.
DIET FAD: The impact of GLP-1 weight-loss drug craze on retail CRE. Read more here.
IOS: Alterra IOS secures $400M refi package from KeyBank and Truist for 99-property portfolio. PLAYERS: Scott Whittle, Kate Mooney, Nadia Mahmoud, Stephanie Rogan, Joshua Mayers. Read more here.
IOS: JLL sells 33.8 AC IOS in Orlando metro area. PLAYERS: Luis Castillo, Cody Brais, Taylor Osborne, David Orta Jr. Read more here.
SMALL BAY: Preston Forrest completes full circle with small bay park in North Texas. PLAYERS: Ashley McCulloch, Dru Landrum, R. Forrest Pool, Lena Bryan, Ty Underwood. Read more here.
COLD STORAGE: Southwest Traders buys Inland Empire facility for $40.5M, plans $25M cold storage conversion. PLAYERS: Rick Nunez, Mateo Mobilia, Michael Romero, Terry Walsh. Read more here.
SEF STORAGE: EquiCap COmmercial sells 18,250 SF self-storage facility in Kansas City metro area. PLAYERS: Marla Čolić, Alex Erbs. Read more here.
➡ Want deeper insights on industrial alts? Subscribe to IOS List, Small Bay List, Cold Storage List, and Self Storage List.
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GROCERY ANCHORED: Brixmor Property Group buys 2 grocery-anchored retail centers in Texas for $79.2M. Read more here.
GROCERY ANCHORED: Intercontinental RE Corp. buys grocery-anchored center in Seattle metro for $69.5M. Read more here.
VET-TAIL: Four Corners Property Trust buys 102 Mission Pet Health locations for $268M. Read more here.
C-STORE: The Guess Corp. wants to buy at least 1,000 convenience stores in 12 months. Read more here.
DESTINATION: Fashion brands open stores, hold events in upscale summer watering holes. 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.
