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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 investor confidence in CRE on the rise and Saudi Arabia’s investing pivot to growth sectors.
Today’s issue is sponsored by DealNav - the simple and affordable CRM and deal management tool with easy interface and integrated map.
COMMERCIAL COMEBACK: Blackstone sees deal activity surge as investor confidence returns to commercial real estate. Read more here.
GET REAL: Saudi Arabia’s $925B fund pivots from megaproject dreams to practical growth sectors, such as logistics and mining. Read more here.
ALT ALLIANCE: Warburg Pincus and Madison Intl. Realty join forces to invest $300B in secondaries in data centers, industrial, cold storage, and residential sectors. Read more here.
STORAGE STAKES: Centerbridge and Reframe launch $500M joint venture to acquire US self-storage assets. Read more here.
IOS: CoreOne Industrial buys 6.85 AC IOS in Detroit metro area. PLAYERS: Robert DePiero, Corey Isdaner, Kyle Coven, Derek DeLaura. Read more here.
IOS: Speedwagon Capital Partners redevelops 56 acre trucking and logistics hub in Chicagoland. PLAYERS: Steve Khoshabe, Jason Schiffman, Jon Feld, Tyler Turasky. Read more here.
SMALL BAY: NAI Hallmark sells small bay facility in Jacksonville, FL, for $12.4M. PLAYERS: Christian Harden, Tiffany Wein. Read more here.
SMALL BAY: APEX Capital Realty sells South Florida small bay facility for $4M. PLAYERS: Drew DeWitt, David Archibald, Yoni Sunshine. Read more here.
COLD STORAGE: Consumer Fresh Produce negotiates purchase of Allegheny Cold Storage warehouse in Pittsburgh area. PLAYER: Gregg Cessna. Read more here.
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STUDENT HOUSING: Article Student Living buys 95-bed student housing property adjacent to Oregon State University. Read more here.
BTR: Four Corners buys 2 Louisiana build-to-rent communities for $55M. PLAYERS: Andrew Curtis, Mark Forrester, Gregg Cordaro, Albert Elmore. Read more here.
BTR: W Properties and NHK Capital open 343-unit residential community in Melissa, TX. Read more here.
SENIOR HOUSING: Berkadia doubles seniors housing capital, targeting California and other US markets. Read more here.
SENIOR HOUSING: LTC Properties adds $23M senior housing community to Georgia portfolio. Read more here.
➡ Want deeper insights on housing alts? Subscribe to BTR List and Student Housing Daily.
MED OFFICE: Medical office building in the Greater LA metro area trades hands for $7.1M. PLAYERS: Bryan Lewitt, Chris Isola, Chris Nikchevich. Read more here.
CO-WORKING: U.S. coworking market hits 152 MSF with strong growth in secondary cities. Read more here.
DISTRESSED: BGO transfers 26-story office tower in NYC’s Midtown East to lender via foreclosure. Read more here.
DISTRESSED: Lender takes over five Brookfield office buildings at Maryland foreclosure auction. Read more here.
DISTRESSED: Office Properties Income Trust files for chapter 11 to restructure debt and deleverage balance sheet. PLAYER: Yael Duffy. Read more here.
➡ Want deeper insights on office alts? Subscribe to Med Office List.
MARINAS: Stella Marinas merges two Baltimore marinas in $11.9M deal to create one of Maryland’s largest facilities. PLAYER: Ryan Comisky. Read more here.
MARINAS: Ingman Marine acquires historic Longboat Key marina to expand Suncoast presence. Read more here.
RV PARK: Hipcamp partners with Sun Outdoors in deal adding 100 RV resorts, including 20+ Jellystone Parks. Read more here.
CASINO: Musqueam and Snuneymuxw First Nations plan to jointly acquire River Rock Casino Resort in Vancouver, BC. Read more here.
DATA CENTER: Principal Asset sells Atlanta area data center for $253M. PLAYER: Devin Chen. Read more here.
DATA CENTER: Michigan sees its biggest-ever data center deal with Related’s $7B AI campus. Read more here.
DATA CENTER: Apollo Funds complete majority acquisition of Stream Data Centers to expand multi-gigawatt AI infrastructure. PLAYERS: Joseph Jackson, Trevor Mills, Devin Chen, Michael Lahoud, Paul Moser. Read more here.
NUCLEAR: Brookfield partners with US government to develop $80B in new nuclear plants. PLAYER: Connor Teskey. Read more here.
ENERGY STORAGE: Energy Vault acquires SOSA BESS in Texas, advancing $300M-backed US energy storage portfolio. PLAYER: Robert Piconi. Read more here.
➡ Want to go deeper on InfoTech alts? Subscribe to Data Center View.
NEIGHBORHOOD: Convenience retail REIT Curblines buys 70 neighborhood centers this year. PLAYERS: David Lukes. Read more here.
NET LEASE: CenterSquare acquires six Starbucks-anchored essential retail properties across three states. Read more here.
C-STORE: Investors rush to buy gas stations to capture 100% bonus depreciation, spurring record deals. PLAYERS: Jim Ceresnak, Sage Chaffin, Navjeet Chahal. Read more here.
C-STORE: The Kent Cos. expands into Louisiana with 15 Chevron C-stores acquisition from B&B Petroleum. PLAYER: Art Bonneval. Read more here.
C-STORE: Murphy USA continues growth push with new-to-industry stores and small M&A deals, acquiring four Denver stores. 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.
