US Commercial Real Estate
Breaking News: Macerich CEO to Retire at Year-End
Thu, 19 Apr 2018 10:07:34 GMT
Image credit: The Macerich Company Longtime Macerich Co. Chairman and CEO Arthur Coppola today announced plans to retire from the shopping mall REIT he has led for the past 25 years. Coppola will also step down from his position as chairman of the REIT's board and will not seek re-election as a director at Macerich's annual shareholder meeting. His retirement is effective Dec. 31. Coppola joined the company as a founding partner of the original...
Extra Innings Continue for Multifamily Sales Cycle as AIMCO Makes Big Bet on Philadelphia Market
Thu, 19 Apr 2018 08:42:16 GMT
In a major multifamily investment sale that extends the record run of investor interest in the apartment sector, Denver-based multifamily giant AIMCO doubled down on the Philadelphia market, buying a seven-property, 1,006-unit portfolio from local developer and operator Dranoff Properties for $445 million. The acquisition boosts AIMCO's ranking as one of the largest owners of apartments in the Philadelphia market, along with local rival PMC Property...
Largest Banks Casting Wary Eye on Heated Commercial Real Estate Lending Market
Thu, 19 Apr 2018 07:33:57 GMT
Despite record liquidity, demand for commercial real estate loans softened in recent months, leaving eager lenders chasing fewer borrowers. As a result, competition among lenders has ratcheted up noticeably with loan prices compressing. In fact, deal pricing and structures have gotten so competitive, many of the nation's banks, including its 25 largest cumulatively, are starting to back off from commercial real estate lending. Federal Reserve...
With Warehouses Commanding Peak Prices, Prologis to Sell More Assets, Ramp Up Construction
Thu, 19 Apr 2018 12:04:25 GMT
Prologis recently completed shell construction on a new building at Prologis Park Riverside in Phoenix. Warehouse giant Prologis Inc. is ramping up construction and asset sales following healthy first-quarter results powered by brisk leasing and near-double-digit rent growth in the red-hot logistics market. Based on robust demand for modern logistics space by e-commerce and other tenants, San Francisco-based Prologis this week raised the value...

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