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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 record-high data center leasing and soaring insurance rates.
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SERVER SURGE: US data center leasing hits record high as Oracle leads demand. Read more here.
RATE WRANGLE: Soaring insurance rates push states to consider new price caps. Read more here.
STORAGE WARS: Blackstone considers bid for UK self-storage giant Big Yellow Group. Read more here.
STUDENT SLUMP: Fewer international students are straining small college towns and local economies. Read more here.
IOS: Cooper Horowitz arranges $100M refi loan for IOS portfolio. PLAYERS: Justin Horowitz, Zach Dobin, Matt Lazar. Read more here.
IOS: Corepoint Real Estate brokers sale of 3 AC IOS in Atlanta area for $4.8M. PLAYERS: Marc Smouha, Jeremy Friedman, Grant Reaves. Read more here.
SHALLOW BAY: CBRE sells shallow bay park in Portland, OR, for $22.3M. PLAYERS: Brett Hartzell, Charles Safley, Chris Reeves, Eleanor Aschoff. Read more here.
SMALL BAY: CenterSquare buys small bay portfolio in Houston. PLAYERS: Victoria Taylor Bocanegra, Robert Wasenius, Michael Blount Jr. Read more here.
COLD STORAGE: SENTRE buys building with cold storage in Phoenix for $57.75M. PLAYERS: Will Strong, Phil Haenel, Foster Bundy. Read more here.
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BTR: Peakline and Lincoln Property Company to build Naperville, IL, BTR community. Read more here.
BTR: BWE secures $33.6M permanent loan for Wisconsin BTR project. PLAYERS: Dan Rosenberg, Tim Caffrey, Logan Petersmeyer. Read more here.
STUDENT HOUSING: Landmark Properties to build 546-bed project near Penn State. Read more here.
SENIOR HOUSING: Walker & Dunlop arranges $41M financing for Maryland senior housing project. PLAYERS: P.J. McDevitt, Macy Kisilinsky. Read more here.
MANUFACTURED: Youngsville MHP buys Franklin County, NC, mobile homes for $5.7M. Read more here.
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MED OFFICE: Brown Gibbons Lang & Co. advises on sale of New Jersey medical center portfolio to STORE Capital. PLAYERS: John Riddle, Sean Maynard. Read more here.
MED OFFICE: Medical office loans outperform traditional offices amid rising demand and strong returns. Read more here.
MED OFFICE: Big Sky Medical buys Hillcrest Medical Park in Frisco, TX. PLAYERS: Chris Morgan, Harrison Horowitz. Read more here.
DISTRESSED: 27-story Manhattan tower enters special servicing after major tenant cuts footprint and values drop. Read more here.
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SHORT-TERM RENTAL: Sonder seeks out-of-court deal with creditors as cash shortfall raises bankruptcy concerns. Read more here.
BOUTIQUE: Cain acquires The Dominick in New York to reposition it as Delano SoHo. PLAYER: Eric Poretsky. Read more here.
BOUTIQUE: Kam Sang buys Manhattan’s Edition Clocktower luxury hotel for $250M. Read more here.
EXTENDED STAY: Non-profit plans to convert Charlotte, NC, extended-hotel into veteran housing. Read more here.
DATA CENTER: Georgia data center sells for nearly 300% more than purchase price. Read more here.
DATA CENTER: Google targets 390 AC in Morgan County, IN, for new data center development. Read more here.
DATA CENTER: Meta and Blue Owl Capital form joint venture to develop $27B Hyperion data center campus. Read more here.
DATA CENTER: Joule plans self-powered AI data center in rural Utah with goals of preserving farmland and creating jobs. Read more here.
DATA CENTER: Amazon to invest $10B in major data center campus in Richmond County, NC. Read more here.
➡ Want to go deeper on InfoTech alts? Subscribe to Data Center View.
DESTINATION: Bass Pro Shops to open new 90,000-square-foot store in Victor, NY, by late 2026. Read more here.
DESTINATION: Starsound to open destination retail hub and music hall in Reno’s Brewery District. Read more here.
NET LEASE: Boulder Group sells Verizon outparcel in Cleveland, OH, metro area for $2M. PLAYERS: Randy Blankstein, Jimmy Goodman. Read more here.
C-STORE: Potawatomi tribe opens Fireside MARKET in Slinger, WI, with modern amenities and community focus. 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.
