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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 Peakstone’s pivot to IOS and BKM’s re-acquisition of 3 small bay industrial parks.
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PURE PLAY: Peakstone Realty Trust plans to sell remaining office investments, pivot focus to industrial outdoor storage. PLAYER: Michael Escalante. Read more here.
SMALL BAY, BIG DEAL: BKM Capital Partners reacquires 3 small bay industrial parks for $81.5M in partnership with Terracore. PLAYERS: Brett Turner, Adam Candler, Michael Grossner. Read more here.
SHUTDOWN SLUMP: Fed government shutdown slams hotel operators as 10% of US flights are canceled. Read more here.
CHARTED: Here are the top markets for real estate prospects:
IOS: Virtue Real Estate Partners brokers sale of 14.71 AC portfolio to Alterra IOS. PLAYERS: Luke Hoyl, TJ Giselbach, Alex Hoyl, Blake Ransom, Gavin Weaver. Read more here.
SMALL BAY: Newmark sells small bay portfolio in Philadelphia area to NorthBridge Partenrs for $22M. PLAYERS: Ryan Guittare, Zach Moore, Tony Grelli. Read more here.
SMALL BAY: Shelter Growth Capital Partners lends $25M for small bay industrial deal in Jacksonville. PLAYERS: Aj Felberbaum, Yan Khamish, Spencer Miller, Noah Rothman. Read more here.
COLD STORAGE: Venture One buys 2nd cold storage facility in Chicago area for $12.65M. PLAYERS: John Huguenard, Trent Agnew. Read more here.
INDUSTRIAL: Faropoint lands $340M portfolio refinance, its largest ever, from Truist. PLAYERS: Idan Tzur, Mark DeCesare, Alex Rownd. Read more here.
➡ Want deeper insights on industrial alts? Subscribe to IOS List, Small Bay List, and Cold Storage List.
SENIOR HOUSING: Blacktsone sells senior housing community in Aventura, FL, for a 75% discount. Read more here.
STUDENT HOUSING: Nimes Real Estate buys 330-bed student housing community adjacent to University of South Carolina campus. PLAYERS: Randall Calvert, Michael Orsak. Read more here.
STUDENT HOUSING: RISE sells 768-bed student housing community in Daytona Beach, FL. PLAYERS: Chris Epp, Matthew Chase, Craig Miller, Holden Penn. Read more here.
BTR: Trinitas Ventures launches 23-unit build-to-rent project in Noblesville, IN. PLAYERS: Loren King, Eric Wojak. Read more here.
BTR: HMF Americana enters Charlotte market with new project. PLAYER: Frank Warren. Read more here.
➡ Want deeper insights on housing alts? Subscribe to BTR List and Student Housing Daily.
MED OFFICE: HREA closes sale of Atrium Health System medical office building in Charlotte, NC. Read more here.
MED OFFICE: Arena BioWorks shutters after just two years, leaving major Kendall Square lease in limbo. Read more here.
DISTRESSED: Brookfield takes $340M loss on Denver office towers sold for just $57M. Read more here.
CO-WORKING: New report shows co-working sector grew 12% as hybrid work fueled demand for flexible office space. Read more here.
➡ Want deeper insights on office alts? Subscribe to Med Office List.
EXTENDED STAY: Extended-stay hotels outperform peers in Q3 as demand rises and supply growth slows. Read more here.
EXTENDED STAY: IHG opens 95-room Staybridge Suites in Detroit suburb. Read more here.
BOUTIQUE: Chrome Hearts buys Malibu’s Surfrider Hotel for $37.5M in luxury expansion move. Read more here.
LUXURY: Blackstone nears deal to buy Four Seasons San Francisco amid signs of city rebound. Read more here.
DATA CENTER: Amazon acquired $700M data center site in Prince William County, Virginia. Read more here.
DATA CENTER: Banks fund $18B Oracle-linked data center project in New Mexico amid AI boom. Read more here.
DATA CENTER: Vantage to invest $2B in three-building Virginia data center campus opening in 2027. Read more here.
DATA CENTER: BluSky AI to lease 5 acres in Oklahoma for modular data center expansion. Read more here.
➡ Want to go deeper on InfoTech alts? Subscribe to Data Center View.
DESTINATION: Simon Property Group to launch 100 AC retail-focused mixed-use center in Nashville. PLAYERS: David Simon, Eric Sadi. Read more here.
NET LEASE: Wells Fargo provides $83M loan for Watertown retail center acquisition. PLAYERS: Henry Schaffer, Andrew Gray, Sam Wiesman, Joseph Marinaro. Read more here.
C-STORE: Buc-ee’s targets Indiana with first Midwest travel center near Greenwood. Read more here.
C-STORE: Food City expands into Alabama with three former Winn-Dixie stores. Read more here.
C-STORE: GPM to expand food-focused c-store model after Richmond, VA, pilot success. 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.
