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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 hottest US industrial CRE market and rising data center construction costs.
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GRITS AND GROWTH: Southeast leads nation in multi-tenant industrial sales with $5.2B in Q3. Read more here.
SERVER SURGES: Turner & Townsend reports 5.5% rise in global data center construction costs. Read more here.
WIT AND WISDOM: Stories from CBRE’s loan sales team after completing $62B in transactions. PLAYERS: Patrick Arangio, Jack Howard. Read more here.
VIRGIN VENTURES: Virgin Hotels begins search for new CEO as interim leadership steps in. Read more here.
IOS: Trucking infrastructure platform Outpost announces strategic investment in EV Realty. PLAYERS: Trent Cameron, Patrick Sullivan, Alec Maghami. Read more here.
IOS: Cushman & Wakefield sells 3.41 AC IOS in Phoenix for $4.6M. PLAYERS: Will Groves, John Pompay, John Stroud. Read more here.
SMALL BAY: Decker Capital buys small bay park in Jacksonville, FL, for $14M. PLAYERS: Shane Decker, Peleg Amazalag. Read more here.
SMALL BAY: CBRE sells small bay asset in West Sacramento, CA for $9.1M. PLAYERS: Jason Law, Matt Post, Anthony DeLorenzo, Sammy Cemo. Read more here.
COLD STORAGE: Cerberus and Provender recapitalize 1.7 MSF of cold storage with Heitman and Artemis. Read more here.
➡ Want deeper insights on industrial alts? Subscribe to IOS List, Small Bay List, and Cold Storage List.
STUDENT HOUSING: UCLA plans 19-story, 1,150-bed student housing tower. Read more here.
STUDENT HOUSING: Hawkins Way Capital converts NYC hotel into 650-bed housing. PLAYER: Tallal Bhutta. Read more here.
BTR: Pretium Partners secures $810.8M ABS loan. Read more here.
BTR: Morgan selected to manage 3,250+ BTR residences for Howard Hughes Communities. Read more here.
SENIOR HOUSING: Villas at Setauket breaks ground on senior housing expansion in Brookhaven, NY. Read more here.
➡ Want deeper insights on housing alts? Subscribe to BTR List and Student Housing Daily.
MED OFFICE: Berkadia sells on-campus MOB in Norman, OK. PLAYERS: Chris Lashmet, Eric Lee, Sabrina Solomiany, Vasili Davos. Read more here.
MED OFFICE: Eastern Union secures $33.84M loan for Brooklyn, NY, medical office acquisition. PLAYERS: Alex Jaffa, Ben Halpern. Read more here.
DISTRESSED: Office recovery remains uneven as hybrid work keeps vacancies near record highs. Read more here.
DISTRESSED: CMBS special servicing rates hit record highs as office and mixed-use distress deepens. Read more here.
CO-WORKING: Creative Chem Co. co-working space opens in Pittsburgh area with massive Jeff Goldblum mural. Read more here.
➡ Want deeper insights on office alts? Subscribe to Med Office List.
GOLF COURSES: Bain Capital buys Concert Golf Partners in deal potentially topping $1.3B. PLAYERS: Peter Nanula, Jennifer Davis. Read more here.
THEME PARKS: Dollywood owner Herschend Family Entertainment buys Silverwood theme park in Idaho. Read more here.
CASINOS: Hard Rock Casino Tejon opens phase one north of Los Angeles with 150,000 SF of gaming space. Read more here.
MARINAS: TopSide Marinas buys Pikes Bay Marina in Bayfield, WI. Read more here.
DATA CENTERS: Blackstone data centers secure record $3.46 billion CMBS refinancing. Read more here.
DATA CENTERS: Google unveils $40B Texas AI data center plan. Read more here.
DATA CENTERS: Air Products plans 2.6 MSF data center in Upper Macungie, PA. Read more here.
DATA CENTERS: Blockfusion to go public with clean energy data center expansion for AI workloads. Read more here.
➡ Want to go deeper on InfoTech alts? Subscribe to Data Center View.
NET LEASE: Four Corners Property Trust acquires Texas Caliber Collision property for $4.9M. Read more here.
DESTINATION RETAIL: Netflix opens immersive pop culture shopping venue in Philadelphia. Read more here.
C-STORE: Peachtree group commits $200M to expand Briad Group convenience store developments. PLAYERS: Greg Friedman, Brad Honigfeld. Read more here.
QSR: Pizza Hut could attract convenience store buyers as Yum! considers strategic sale. 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.
