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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 the Millcreek debacle and the return of opportunity zones.
Today’s issue is sponsored by DealNav - the simple and affordable CRM and deal management tool with easy interface and integrated map.
BAD BET: 1031 exchange operator leaves investors holding the bag. Read more here.
IN THE ZONE: Peakline Real Estate Funds targets $1.3B in fundraising ahead of opportunity zone relaunch. Read more here.
AT HOME: Nvidia and PulteGroup partner with CA startup to install small data center nodes on homes. Read more here.
REIT RUSH: Blackstone eyes $1.75B IPO for data center REIT. Read more here.
LUXURY: St. Regis Chicago gets $125M refi from Banco Inbursa. Read more here.
LUXURY: MetroNational, Rockbridge buy The Moran Hotel CityCentre in Houston. PLAYERS: Matt Welch, Colby Mueck, Ryan West, John Nugent, Greyson Fewin, Robert Westerfield. Read more here.
LUXURY: Gencom seeks out acquisition targets in California on heels of $1B East Coast spending spree. PLAYER: Karim Alibhai. Read more here.
EXTENDED STAY: G6 Hospitality rolls out Studio 6 Plus extended stay brand. PLAYERS: Ankit Tandon, Sonal Sinha. Read more here.
SHORT-TERM RENTAL: Casago launches STR rental franchise in Idaho. PLAYERS: Alex Pedigo, Susan Pedigo, Steve Schwab. Read more here.
RV STORAGE: Go Store It plans recreational vehicle storage facility in Bonita Springs, FL. PLAYERS: Scott Hastings, Banks Brown. Read more here.
CASINO: Resorts World opens 1st full-scale casino in NYC. Read more here.
CASINO: VICI Properties buys Nevada casinos from Golden Entertainment for $1.16B. Read more here.
SURF PARK: Newport Beach residents sue city over surf park proposal. Read more here.
COUNTRY CLUB: Buffalo’s Orchard Park plans extensive restoration of golf course. 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.
