Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. Today, we learn about Brookfield’s $5.2B warehouse acquisition and the distressed sale of a 1.1M SF Dallas office campus.
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WAREHOUSE WINDFALL: Brookfield, CPP Investments complete their $5.2B acquisition of LXP Industrial Trust, adding 107 properties to their portfolio. Read more here.
OFFICE SPACE RACE: Lincoln Property Co., Cross Ocean Partners acquire 1.1M SF Dallas office campus after former owner defaults on $223M loan. Read more here.
YARD SALE: Realterm buys 2 fully leased Jacksonville IOS properties totaling 12.1 AC for nearly $9.4M. Read more here.
STORAGE WARS: Extra Space Storage leads self-storage REITs with 4.6% same-store NOI growth and 94% occupancy in Q3. Read more here.
LUXURY: KSL Capital Partners acquires 373-room Ritz-Carlton, Laguna Niguel, in Dana Point, CA, for reported $378M. Read more here.
LUXURY: Loren Group buys 162-room Thompson San Antonio hotel for $41M, with sellers providing $32M in acquisition financing. Read more here.
LUXURY: Gencom, White Bridge Capital buy Miami’s 652-room InterContinental hotel for approximately $300M. Read more here.
EXTENDED STAY: U.S. extended-stay hotel RevPAR rises 5.5% year over year in Q3, marking strongest quarterly growth in more than three years. Read more here.
EXTENDED STAY: Extended-stay hotels account for roughly 40% of U.S. hotel construction pipeline, with 2,352 projects and 236,219 rooms. Read more here.
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GOLF COURSES: Gantry secures $27.9M in financing for acquisition of Tubac Golf Resort & Spa, 500 AC Arizona property with 27-hole course. Read more here.
GOLF COURSES: Tiger Woods’ design firm partners with Armchair Collective to redevelop Long Island’s shuttered Tam O’Shanter Country Club into private 18-hole golf club. Read more here.
CAMPGROUNDS: Camp Margaritaville Resort Golden Isles breaks ground on 54 AC Georgia resort featuring 285 RV sites and 55 casitas, with opening planned for 2028. Read more here.
ARENAS: Rancho Cordova approves plans for 7,500-seat arena and land sale tied to proposed Downtown DOVA development. Read more here.
ENTERTAINMENT VENUES: Marina, CA, seeks proposals from operators to redevelop former equestrian center into regional recreation, cultural, and events destination. 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.
