Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. Today, we learn about Starwood’s $10.2B fund and the Illinois teachers’ pension program’s alts bets.
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SERVER FERVOR: Starwood Capital makes $10.2B bet on data centers, logistics, and rental housing. Read more here.
TEACHER’S PET: Illinois teachers’ pension commits $85M to 3 CRE alts funds. Read more here.
PORTFOLIO PEEK: Here are the CRE firms in Trump’s portfolio. Read more here.
BACKROOMS: Here’s who’s really renting all those offices during the data center surge. Read more here.
BTR: Dwight Mortgage provies $26M bridge loan to support lease-up of Spring Hill, FL, BTR community. PLAYERS: Katie Goldenberg, John Isakson, Jordan Kavana. Read more here.
BTR: BrightSky Residential launches pre-leasing for 216-home community in San Francisco Bay Area. PLAYER: Charles McKeag. Read more here.
STUDENT: CBRE arranges sale of 516-bed student housing property in Norman, OK. PLAYERS: Jaclyn Fitts, Casey Schaefer, William Vonderfecht, Carson Ford, Brad Peters, Victoria Langston. Read more here.
AFFORDABLE: New Kennedy Wilson, Jamison JV will deliver 4,000 affordable housing units in Los Angeles. Read more here.
DEVELOPMENT: Walton Global sells 1,736 SF land tract in Austin, TX< for master planned community. Read more here.
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MED OFFICE: Private net lease REIT buys 3-building med office portfolio in Indiana for $6.2M. PLAYERS: Gus Poulos, Forest Bender. Read more here.
MED OFFICE: CBRE sells Rose Garden Medical Campus in Phoenix. PLAYERS: Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof, Jesse Greshin, Phil Wurth. Read more here.
DISTRESSED: Brookfield sells office tower in DC area for $20M after buying for $150M in 2011. Read more here.
DISTRESSED: Netflix to buy Radford Studio Center at steep discount to 2021 valuation. Read more here.
CONVERSION: Rockpoint forms JV to redevelop DC offices to residential units. 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.
