Top Stories

Joint Venture Acquires 300,000 SF Retail District at $6B Miami Mixed-Use Development

by Hayden Spiess April 2, 2026

MIAMI — A joint venture comprising affiliates of the Falcone Group, ROK Acquisitions, Andre Mirmelli, The Davis Cos. and Jamestown has acquired a retail and entertainment district situated within Miami Worldcenter, a new $6 billion mixed-use destination in downtown Miami. The seller was master development group Miami Worldcenter Associates, which is a partnership between Falcone Group, Nitin Motwani and CIM Group. The sale price was not disclosed. Totaling 300,000 square feet of retail, dining and entertainment space with 100,000 square feet of parks and plazas, the acquired property will be operated by Falcone Group, along with ROK Acquisitions and Andrew Mirmelli. Davis Cos. and Jamestown will serve as limited partners. Tenants within the retail district include a flagship Apple store, Sephora, lululemon, Ray-Ban, Lucid Motors, Free People, Savage X Fenty, Posman Books, HŸP Sneakers & Streetwear, Timeluxe, Openbank by Santander, SkinSpirit, Blo Blow Dry Bar and Club Studio. Food-and-beverage offerings include Maple & Ash, Eight Bar, Sixty Vines, Earls Kitchen + Bar, Sweet Paris Crêperie & Café, Serafina, Go Greek Yogurt and Starbucks Coffee. Entertainment venues include Lucky Strike Bowling and the Museum of Ice Cream. “By combining continuity of vision with additional institutional capital, strategic oversight and operational discipline, …

April 2, 2026

Loans New York Northeast Top Stories

SL Green Receives $1.6B CMBS Refinancing for Manhattan Office Property

by Taylor Williams April 1, 2026

NEW YORK CITY — Locally based real estate giant SL Green Realty Corp. (NYSE: SLG) has received $1.6 billion in CMBS debt for the refinancing of One Madison Avenue, an office property in Manhattan’s Flatiron District. One Madison Avenue overlooks Madison Square Park and combines a restored historic podium with a newly constructed, 550,000-square-foot tower. The property was fully leased at the time of the loan closing to tenants such as IBM, Franklin Templeton Cos., Palo Alto Networks, FanDuel Group, Sigma Computing and Harvey AI. Amenities at the property include Le Jardin Sur Madison, an event space and rooftop garden; La Tête d’Or by Daniel, an upscale culinary offering from Chef Daniel Boulud; and The Commons, a 7,000-square-foot tenant-only lounge. Retail offerings include a 56,000-square-foot Chelsea Piers Fitness along with a collection of fast-casual eateries. Jordan Roeschlaub, Nick Scribani and Ricky Braha of Newmark arranged the five-year, fixed-rate financing, which was priced at a spread of 181 basis points over the U.S. Treasury index, resulting in an all-in interest rate of 5.81 percent. The debt replaces a prior $1.25 billion construction facility. Wells Fargo Bank NA led the financing execution, with participation from Goldman Sachs, J.P. Morgan, Bank of America, …

April 1, 2026

Acquisitions Affordable Housing Company News Florida Multifamily North Carolina Southeast Top Stories

Sun Life to Acquire Bell Partners, Combine With BGO Following Buy-Out of Remaining Equity Stake

by John Nelson March 31, 2026

TORONTO, MIAMI AND GREENSBORO, N.C. — Sun Life Financial Inc. (NYSE: SLF), a Toronto-based financial services organization with $1.6 trillion in assets under management as of year-end 2025, has announced it will acquire Bell Partners, a multifamily investment and management firm based in Greensboro. The acquisition was valued at $350 million and is expected to grow Sun Life’s U.S. multifamily segment. Founded in 1976, Bell Partners has approximately $10 billion of assets under management as of March 1 and manages approximately 70,000 apartments in 12 regions across the United States. The firm operates nine U.S. offices and has close to 1,800 employees. Last year, Bell Partners closed more than $1.3 billion in multifamily acquisitions. “This opportunity will extend Bell’s operating and investment expertise across a larger residential platform and strengthen our depth and reach,” says Lili Dunn, CEO and president of Bell Partners. “It is a natural step in our evolution, preserving the essence of what has made us successful, while also opening new opportunities for the future.” In a separate transaction, Sun Life acquired the remaining 44 percent equity stake of Miami-based BGO, a global real estate investment management firm formerly known as BentallGreenOak, in a deal valued at …

March 31, 2026

Arizona Development Mixed-Use Top Stories Western

Mack Real Estate, McCourt Break Ground on $7B Halo Vista Mixed-Use Development in North Phoenix

by Taylor Williams March 30, 2026

PHOENIX — A partnership between Mack Real Estate Group and McCourt Partners has broken ground on Halo Vista, a $7 billion mixed-use development in North Phoenix that has been billed as a “city within a city.” Situated adjacent to the Taiwan Semiconductor Manufacturing Co. (TSMC) campus, the 2,300-acre master-planned project is designed to be a global hub for science, innovation and community. The initial phase of construction will focus on crucial horizontal infrastructure and site preparation, with work led by Phoenix-based Willmeng Construction. The master plan for the site includes nearly 30 million square feet of industrial, office, retail, residential and educational uses. Companies that have already committed to Halo Vista include Costco and Marriott, which plans to develop a five-story, dual-branded hotel under the Courtyard and Residence Inn brands. Those announcements came in October. In addition, DeRito Partners is planning an “auto mall” at Halo Vista that will feature approximately 10 dealership facilities. These developments are part of the first phase of commercial space that is planned along I-17 and Dove Valley Road and is designed to serve the thousands of workers and residents anticipated to join the Halo Vista community. “Northwest Phoenix has always had strong neighborhoods and a …

March 30, 2026

Acquisitions Industrial Midwest Northeast Pennsylvania Southeast Texas Top Stories Western

EQT Real Estate Sells 7.3 MSF Logistics Portfolio Across 12 Markets

by Abby Cox March 27, 2026

RADNOR, PA. AND LOS ANGELES — EQT Real Estate, on behalf of its EQT Real Estate Industrial Core-Plus Fund II, has sold a 36-property logistics portfolio totaling 7.3 million square feet across 12 markets. A real estate investment fund managed by Los Angeles-based Ares Management acquired the portfolio for $650 million, according to various media outlets. Marq Logistics, an affiliate of Ares Management, will manage the properties on behalf of the new ownership. “This transaction highlights EQT Real Estate’s strength in creating and realizing value across the investment lifecycle,” says Matthew Brodnik, global chief investment officer at EQT Real Estate. “The team combined thoughtful portfolio construction with EQT Real Estate’s differentiated hands-on active management to build a portfolio with strong underlying fundamentals, enhance its performance and ultimately deliver an outcome that reflects its quality and future potential.” The portfolio spans distribution markets such as Chicago, Phoenix, Dallas, Atlanta, North Carolina, South Carolina, Southern California, Memphis, Columbus and Cincinnati. The properties are more than 95 percent leased to various tenants active in e-commerce, distribution, food-and-beverage and light manufacturing sectors. Amenities throughout the portfolio include 31-foot clear heights, cross-deck and rear-load configuration, truck courts and significant parking accommodations. John Huguenard, Trent Agnew, and …

March 27, 2026

Loans Office Top Stories Washington

Kemper Development Secures $238M Refinancing for Office Tower Near Seattle

by Hayden Spiess March 26, 2026

BELLEVUE, WASH. — Kemper Development Co. has secured $238 million for the refinancing of an office tower located in Bellevue, situated to the east of Seattle across Lake Washington. The property, Lincoln Square North, is part of The Bellevue Collection, a shopping and dining district featuring more than 200 retail tenants, 50 restaurant and entertainment venues and three luxury hotels. Bellevue-based Kemper, the master developer of The Bellevue Collection, originally built the tower in 2007. Totaling 561,466 square feet across 25 stories, the building was fully leased at the time of financing. Jonathan Firestone, Blake Thompson and Jack Condon of Newmark arranged the financing from Blackstone and New York Life on behalf of the owner. According to Newmark, more than 461,000 square feet in office leases were executed or commenced at the tower between November 2023 and March 2025, representing over 25 percent of the total office leasing activity in the Bellevue central business district (CBD) during that period. “This financing underscores the exceptional performance and institutional quality of Lincoln Square North and the strength of the Bellevue market,” says Firestone. “With near-full occupancy, premier amenities and unmatched connectivity to The Bellevue Collection, the property continues to attract top-tier tenants and support …

March 26, 2026

Development Georgia Life Sciences Southeast Top Stories

UCB to Invest $2B for Biopharmaceutical Manufacturing Campus in Northeast Georgia

by Kristin Harlow March 25, 2026

DACULA, GA. — Global biopharmaceutical company UCB has unveiled plans to invest $2 billion to establish its first U.S. pharmaceutical biologics manufacturing campus in Dacula, a city within metro Atlanta’s Gwinnett County. The new facility is expected to create 330 new jobs over the next several years at Rowen, a mixed-use innovation district focused on global health, agriculture and environmental sustainability. The 2,000-acre “knowledge community” is planned along Ga. Highway 316. The new 460,000-square-foot facility will anchor 79 acres that UCB purchased off Rowen Parkway. Brussels, Belgium-based UCB maintains an existing presence in Georgia. The company’s North American headquarters is located in Smyrna and currently supports more than 400 jobs spanning expertise in neurology and immunology. UCB is focused on developing innovative medicines for people living with severe neurological and autoimmune conditions such as epilepsy. UCB’s new manufacturing footprint marks the first major private investment at Rowen and the largest capital investment in Gwinnett County’s history. UCB says it will leverage advanced manufacturing technologies, including artificial intelligence, robotics and automation, while prioritizing efficient use of natural resources. Jean-Christophe Tellier, CEO of UCB, says the project is expected to generate approximately $5 billion in total economic impact, including more than 1,000 …

March 25, 2026

California Leasing Activity Office Top Stories Western

OpenAI Fully Leases 450,000 SF Office Campus in Mountain View, California

by Amy Works March 24, 2026

MOUNTAIN VIEW, CALIF. — OpenAI, the artificial intelligence (AI) giant behind ChatGPT and the $500 billion Stargate Project, has signed a lease with KKR Real Estate Finance Trust Inc. (NYSE: KREF) and TMG Partners to fully occupy 350-380 Ellis, a Class A office campus in the Silicon Valley city of Mountain View. The five-building asset offers 450,000 square feet of office space with move-in ready finishes, indoor and outdoor work environments, meeting/conference rooms, rooftop decks, an executive briefing center, kitchen/break areas on each floor and collaborative space. The campus also features a full-service gastropub restaurant and cafeteria, multi-story parking structure, a tennis court and a sand volleyball court. The property is owned by KREF and capital accounts advised by the REIT’s parent company, KKR & Co. Inc. (NYSE: KKR). In 2024, TMG was selected to reposition 350-380 Ellis into a future-ready office campus. Jon Mackey, Mike Saign and Phil Mahoney of Newmark represented the landlord in the lease negotiations, while Mike Ino, Jon Moeller, Dan Johnson, Rich Duff and Bridget Fahey of JLL represented OpenAI. Founded in 2015, OpenAI has a current market valuation of $840 billion based on its latest fundraising campaign that closed in late February. Sam Altman …

March 24, 2026

Acquisitions Industrial New Jersey Northeast Top Stories

EQT Real Estate Buys 2 MSF Industrial Portfolio in Southern New Jersey

by Taylor Williams March 23, 2026

RADNOR, PA. — Pennsylvania-based owner-operator EQT Real Estate has purchased a portfolio of nine industrial buildings totaling approximately 2 million square feet in Southern New Jersey. The sales price was not disclosed. The buildings are part of a master-planned park that is located along the I-95/295 corridor and house a mix of light industrial and bulk warehousing uses. Buildings feature clear heights that range from 24 to 33 feet, as well as flexible suite sizes and a total of 134 dock doors across the portfolio. The names of the tenants were not disclosed, but the buildings are leased to “blue chip [operators] in manufacturing, distribution and logistics, including national and global occupiers,” according to EQT. The new ownership also plans to explore selective redevelopment and leasing initiatives, including targeted capital improvements and enhancements to building exteriors. Brian Fiurama, Brad Ruppel, Mike Hines and Joe Hill of CBRE represented the seller, an affiliate of insurance giant New York Life, in the transaction. “This portfolio offers scale, location and flexibility in one of the most resilient industrial corridors in the United States,” said Matthew Brodnik, global chief investment officer at EQT. “With strong structural demand for modern infill logistics space, we believe …

March 23, 2026

Florida Loans Multifamily Southeast Top Stories

Fisher Brothers Receives $117.5M Loan for Refinancing of Miami Multifamily Community

by Abby Cox March 20, 2026

MIAMI — New York City based-Fisher Brothers has received a $117.5 million bridge loan for the refinancing of Joule House at Calle Collective, a 308-unit multifamily community located in the Wynwood neighborhood of Miami. Bain Capital provided the floating-rate, interest-only loan. “The successful refinancing of Joule House is a strong reflection of both the property’s performance since opening last summer and the market’s confidence in well-executed, design-driven residential communities in Wynwood,” says Winston Fisher, partner at Fisher Brothers. Situated at 2200 N.W. 1st Ave., Joule House spans eight stories and features studio, one- and two-bedroom floorplans, with select two- and three-bedroom penthouses ranging in size from 985 to 1,400 square feet. Monthly rental rates begin at $2,512. Approximately 23,000 square feet of amenities are available for residents, including a swimming pool, cabana, spa, clubhouse, business center, fitness center, lounge, bicycle storage, a game room, conference rooms and electric vehicle charging stations. In December of last year, Fisher Brothers signed a new retail lease with SunLife Organics, a smoothie, juice and açai bowl bar that will open on the ground floor of Joule House in the third quarter. The Calle Collective, which is located within the Joule House development, serves as a retail, …

March 20, 2026

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