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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 CBRE’s bit bet on AI data centers and healthy medical office demand.
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PROPERTY INTELLIGENCE: CBRE posts $700M in Q3 data center deals as AI boom drives 10% of earnings. Read more here.
HEALTHY RETURNS: Medical office demand surges as outpatient facilities keep vacancy at 7.4% amid office slump. Read more here.
OFF-BOOK: Meta and Blue Owl form $27B joint venture to fund Louisiana AI data center megacampus. Read more here.
ROOM TO GROW: Outbound Hotels partners with CoralTree to operate five resorts and expand with new $137M Sedona and Yosemite projects. Read more here.
IOS: 4.86 AC industrial outdoor storage property trades hands in Raleigh, NC, for $9.025M. PLAYERS: Jennifer Stein, Roberto Susi, Eli Sasson Bril, Jose Sasson. Read more here.
TRUCK PARKING: TRUX Parking buys UpTime/On the Spot Truck Parking, widening reach in Charlotte, NC, area. Read more here.
SMALL BAY: Prologis sells 1.6 MSF small bay portfolio in Denver to Harrison Properties. PLAYERS: Jeremy Ballenger, Tyler Carner, Keiffer Garton, Jim Bolt. Read more here.
SHALLOW BAY: IndiCap and VAC Development break ground on shallow bay project in Phoenix. PLAYERS: Mike Chernine, Andrew Dunn, Mike Schwab, Keri Scott. Read more here.
COLD STORAGE: Revel CRE sells cold storage facility in St. Louis area for $4M. PLAYERS: Timothy Convy, Brian Kelley, John Magner, Scott Delphey. Read more here.
COLD STORAGE: Lineage names next CFO and VP of Investor Relations. PLAYERS: Robb LeMasters, Rob Crisci, Ki Bin Kim. Read more here.
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BTR: Progress Residential buys out Crescent Communities’ stake in Charlotte BTR project for $27.3M. PLAYER: Tony Chen. Read more here.
BTR: Invitation Homes acquires 30 lots for BTR project in the Triad for $9.5M. Read more here.
STUDENT HOUSING: Inland Real Estate Group and The Scion Group buy Charlottesville, VA, housing for $107M. Read more here.
STUDENT HOUSING: Joint venture buys two student housing communities in Georgia and Louisiana totaling 1,188 beds. PLAYERS: Peter Katz, Steve Greer, John Leonard. Read more here.
SENIOR HOUSING: McDowell Housing Partners plans $64.68M senior housing project in South Florida. Read more here.
➡ Want deeper insights on housing alts? Subscribe to BTR List and Student Housing Daily.
MED OFFICE: UCLA Santa Barbara Medical Office sells for record $21.3M. Read more here.
MED OFFICE: The Laramar Group acquires Vista Medical Center in Lakeland, FL. PLAYER: Ben Slad. Read more here.
LIFE SCIENCE: McCord lands Eli Lilly’s $6.5B manufacturing facility after beating 300 proposals for Houston site. PLAYERS: Shawn Cloonan, Ryan McCord. Read more here.
DISTRESSED: Thompson Center developers sell Chicago office building for hefty profit to data center firm. Read more here.
DISTRESSED: Unloved office properties lose over 50% in value, leaving $19.2B in CMBS debt at risk. Read more here.
➡ Want deeper insights on office alts? Subscribe to Med Office List.
EXTENDED STAY: Jamsan Hotel Management buys 135-key Homewood Suites in Stratford, CT. PLAYERS: Ashok Patel, Spencer Davidson. Read more here.
BOUTIQUE: Dan Hotels buys New York’s NoMo SoHo for $125M, marking US market entry. PLAYERS: Dana Firon-Gross, Yuval Tal, Mark Rutter, Stewart Wolf, Andrew Albstein. Read more here.
BOUTIQUE: Turnbridge Equities buys SilverRock La Quinta resort for $65M after bankruptcy approval. Read more here.
STR: US short-term rental managers remain cautiously optimistic despite staffing and regulatory challenges. Read more here.
DATA CENTER: BlackRock, Microsoft, Nvidia, and xAI buy Aligned Data Centers for $40B. Read more here.
DATA CENTER: Virginia becomes global data center hub amid economic gains and environmental concerns. Read more here.
LNG: JERA to invest $1.5B to acquire Haynesville Shale asset, boosting US LNG production. Read more here.
SOLAR: Azimuth Renewables proposes 150 AC Barite Solar project in Concordia Parish, LA. Read more here.
➡ Want to go deeper on InfoTech alts? Subscribe to Data Center View.
DISTRESSED: Namdar Realty Group buys distressed retail property in Chicago for $8.3M. PLAYERS: Igal Namdar, Paul Barile. Read more here.
C-STORE: RaceTrac completes $566M Potbelly acquisition, adding 445 units to convenience-store chain portfolio. Read more here.
C-STORE: C-store leaders say EV charging investments aren’t profitable as adoption slows and costs rise. Read more here.
DISPENSARY: Curio Wellness to expand Missouri footprint with acquisition of four Greenlight dispensaries. 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.
