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Interra Realty Brokers $7.3M Sale of Apartment, Retail Building in Chicago

Kristin Harlow — Tue, 14 Apr 2026 12:56:10 +0000

CHICAGO — Interra Realty has brokered the $7.3 million sale of 1755 N. Damen Ave., a 13-unit apartment and retail building adjacent to The 606 trail in Chicago’s Bucktown neighborhood. The deal marks the highest sales price of any multifamily or mixed-use asset in the submarket in over two years, per CoStar data. Joe Smazal and Mark Dykstra of Interra represented the buyer, Stocking Urban LLC, led by Nicholas Stocking. Smazal and Dykstra also represented the confidential seller in the off-market deal. All residential units were fully occupied at the time of sale. The property features three two-bedroom units, five three-bedroom units and two four-bedroom layouts. In addition to the residential units, the building includes three commercial spaces, two of which were occupied at the time of sale to a bridal shop and a health and wellness center. Stocking Urban plans to make light cosmetic updates to the commercial spaces and lease the vacant storefront.

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Venture One Acquires 51,820 SF Industrial Building in Chicago

Kristin Harlow — Mon, 13 Apr 2026 13:17:00 +0000

CHICAGO — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 51,820-square-foot industrial building located at 4114 Peoria St. in Chicago. The single-tenant property was fully leased at the time of sale. Situated within the Stockyards Industrial Park and constructed in 1969, the building features three docks and parking for more than 45 cars. Zeke Rowan, Adam Haefner, Nick Fazio and Marty Mikaitis of Avison Young represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

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MBK Senior Living Sells Two Communities in California Totaling 198 Units

Amy Works — Thu, 09 Apr 2026 13:26:43 +0000

MANTECA AND STOCKTON, CALIF. — MBK Senior Living has sold two seniors housing communities in California totaling 198 units. Clarion Partners acquired the communities for an undisclosed price. Located in Manteca and Stockton, the portfolio includes The Commons at Union Ranch and The Commons on Thornton. Built in 2004, The Commons on Thornton features 100 assisted living and memory care units. The property was 94 percent occupied at the time of sale. The Commons at Union Ranch was built in 2008 and comprises 98 assisted living and memory care units. The community was 97 percent occupied at the time of sale. Aaron Rosenzweig and Dan Baker of JLL represented the seller in the transaction.

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Ares to Acquire Whitestone REIT for $1.7B, Take Company Private

Hayden Spiess — Thu, 09 Apr 2026 11:13:00 +0000

LOS ANGELES AND HOUSTON — Investment firm Ares Management Corp. (NYSE: ARES) has entered into a definitive merger agreement with Whitestone REIT (NYSE: WSR) to purchase the company. Ares will acquire all outstanding Whitestone common shares and operating partnership units for $19 per share in an all-cash transaction valued at roughly $1.7 billion. Upon closing of the transaction, which is expected in the third quarter, Whitestone will become a private company and will no longer trade on the New York Stock Exchange. Houston-based Whitestone is a real estate investment trust (REIT) focused on open-air neighborhood retail markets. As of March 2026, Whitestone’s portfolio comprised 56 retail properties totaling approximately 3.9 million square feet, including retail centers in Phoenix; Austin, Texas; the Dallas-Fort Worth metro; Houston and San Antonio. “Whitestone’s portfolio provides an attractive opportunity to further diversify Ares Real Estate’s footprint with necessity-based retail centers in high-demand, supply-constrained metro regions across Arizona and Texas,” says David Roth, global head of real estate strategy and growth with Ares Real Estate. Whitestone’s board of trustees unanimously approved the transaction, which is subject to customary closing conditions, including approval by Whitestone’s shareholders. “We believe this transaction with Ares is a testament to the…

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Bed Bath & Beyond to Acquire Several Home Retail Brands, Including The Container Store

Kristin Harlow — Wed, 08 Apr 2026 12:00:00 +0000

MURRAY, UTAH — Bed Bath & Beyond Inc. (NYSE: BBBY), owner of Bed Bath & Beyond, Overstock, buybuy BABY and Kirkland’s, has signed a letter of intent to acquire the equity interests and substantially all assets of F9 Brands Inc., which owns and operates Cabinets To Go, Lumber Liquidators, Gracious Home/Thos. Baker and Southwind Building Products. The purchase price is nearly $150 million, and the transaction is expected to close after the company’s annual shareholder meeting in May. Murray-based Bed Bath & Beyond says this transaction will represent an additional step in building a national, fully integrated home services platform under “Beyond Home Services,” which will include categories such as storage, closets, cabinets, flooring, installation, renovation and distribution. Kitchen cabinets retailer Cabinets To Go operates more than 100 stores/showrooms nationwide. Lumber Liquidators is a specialty retailer of waterproof and hardwood flooring with more than 200 stores. Southwind Building Products supplies flooring and building materials to a network of 4,400 independent retailers and contractors across the country. Last week, Bed Bath & Beyond announced plans to acquire The Container Store for approximately $150 million in a deal that aims to combine the two retail brands. The Container Store maintains more than…

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Chicago Market Is Steadfast on the Performance Leaderboard

Kristin Harlow — Thu, 02 Apr 2026 12:00:00 +0000

By Shubhra Jha, Standard Real Estate Investments Chicago was not on many investors’ bingo cards. However, consistently popping up in the top five apartment markets nationwide for rent growth and occupancy outperformance is changing that perception. Metro Chicago boasts relative affordability compared with its coastal counterparts, a range of job opportunities at all skill levels and the ongoing need for attainable housing. These factors create a multifamily investment landscape poised to deliver steady, long-term returns driven by resilient and stable demand. Economy, affordability Chicago is a diversified and consistent economic powerhouse, counted as the third largest major metro area in the United States and the largest non-coastal city. Its geographic location in America’s heartland combined with its historic strength in a wide array of sectors ranging from agriculture/food processing and finance/commodities trading to manufacturing, transportation/logistics and education play an important role in the metro’s resilience throughout economic cycles. Notably, there is no singular industry dominating the economy. Looking ahead, sizeable investments in quantum computing, life sciences and fintech will build on Chicago’s historic advantages in finance, trading and education. Despite its diversified and steadily expanding economic base, Chicago remains an affordable city for its residents. Median home prices in the…

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Aimco Closes Sale of 1,495-Unit Multifamily Portfolio in Metro Chicago for $455M

Kristin Harlow — Wed, 01 Apr 2026 15:11:49 +0000

CHICAGO — Aimco (NYSE: AIV) has completed the sale of a seven-property multifamily portfolio in metro Chicago totaling 1,495 units as part of its liquidation plan approved by stockholders in February. LaTerra Capital Management and Respark Residential purchased the portfolio for $455 million. The Aimco Chicago Portfolio consists of the following stabilized properties: Pete Evans and Richard Evans of Berkadia represented the seller in the transaction. 3650 Capital provided approximately $104 million in acquisition financing to the buyers. The transaction was also capitalized with roughly $308 million of Fannie Mae loan assumptions as well as equity capital from LaTerra and Respark. Approximately $20 million of the invested capital will fund improvements to the properties, including both common area and unit upgrades. “In the post-COVID era, the greater Chicago region has emerged as one of the strongest multifamily housing markets in the country,” says Michael Fleischer, deputy CIO at 3650. “While some regions are experiencing oversupply, the Midwest is seeing a sustained period of strong performance and stability driven by limited new supply, robust demand and relative affordability compared to coastal markets.”

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

Taylor Williams — Wed, 01 Apr 2026 12:00:00 +0000

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,…

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Seniors Housing Industry Faces Predicament of Strong Demand, Limited Supply

Kristin Harlow — Tue, 31 Mar 2026 12:30:00 +0000

Supply and demand dynamics within the seniors housing sector are at a crossroads, according to the Emerging Trends in Real Estate 2026 report produced by PwC and the Urban Land Institute. Like most commercial real estate property types, new supply is constrained due to increasing financing and construction costs. However, demand for senior living units continues to grow. According to the report, factors driving demand for seniors housing include a rapidly growing older adult population and an increase in older adults renting. The 75-plus age category is expected to grow by more than 4 million people by 2030, according to U.S. Census Bureau projections. The oldest baby boomers turn 80 in 2026. The National Investment Center for Seniors Housing & Care (NIC) expects that the limited new supply and steady demand will drive the average seniors housing occupancy rate above 90 percent in 2026, potentially reaching the highest occupancy rate reported in the 20 years that NIC MAP has tracked this data. Investors are poised to achieve strong returns. The National Council of Real Estate Investment Fiduciaries (NCREIF), which tracks the performance of institutional-grade U.S. commercial real estate, reports that seniors housing strongly outperformed all other property sectors in 2025,…

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

John Nelson — Tue, 31 Mar 2026 12:00:00 +0000

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…

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Adirondack Capital Arranges $18.5M Sale of Manhattan Retail Building

Taylor Williams — Thu, 26 Mar 2026 12:51:14 +0000

NEW YORK CITY — New York-based brokerage firm Adirondack Capital Partners has arranged the $18.5 million sale of a retail property in Manhattan’s NoHo neighborhood. Birkenstock occupies the entire 2,300 square feet of leasable space within the two-story building at 120 Spring St. The seller was an entity doing business as 120 Spring Realty Associates LLC. The buyer was a nigh-net-worth Japanese investor. Michael Hunter Coghill of Adirondack Capital brokered the all-cash deal.

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Comstock Purchases 417-Unit Apartment Community in Rockville, Maryland

John Nelson — Tue, 24 Mar 2026 14:17:40 +0000

ROCKVILLE, MD. — Comstock Holding Cos. Inc. has purchased The Reed, a 417-unit apartment community located at 15955 Frederick Road in Rockville, about 21 miles north of Washington, D.C. Comstock acquired the property in a joint venture with an institutional fund advised by Benefit Street Partners, with additional capital coming from Comstock affiliate Comstock Partners LC. The seller and sales price were not disclosed, but the Washington Business Journal reports that a person familiar with the transaction stated the property traded for $110 million. NewPoint Real Estate Capital provided Freddie Mac financing and arranged equity capital for the transaction. CHCI Residential Management and ParkX Management, both affiliates of Comstock, will operate The Reed. Built in 2015, the community is adjacent to the Shady Grove Metro Station and features one-, two- and three-bedroom apartments, as well as a resort-style swimming pool, fitness center with a yoga/boxing studio, clubroom, outdoor gathering spaces, multiple resident lounges and a private parking garage.

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Simon Property Group CEO David Simon Passes Away at Age 64

Kristin Harlow — Tue, 24 Mar 2026 13:12:12 +0000

INDIANAPOLIS — David Simon, chairman, CEO and president of Indianapolis-based mall owner Simon Property Group, passed away Sunday, March 22, after a battle with cancer. He was 64 years old. Simon Property Group’s board has appointed David Simon’s son, Eli Simon, as CEO and president. Eli Simon will also continue his role as COO and director of the company. Additionally, board member Larry Glasscock has been appointed to serve as non-executive chairman. David Simon joined the company’s predecessor, Melvin Simon & Associates, as CFO in 1990. In 1993, at 31 years old, he orchestrated the company’s initial public offering on the New York Stock Exchange, raising nearly $1 billion in what was then the largest real estate public stock offering in history. Two years later, he became one of the youngest CEOs of a major publicly traded company in America. Under his leadership, Simon Property Group has delivered a cumulative total shareholder return of more than 4,500 percent since its IPO. Until recently, he also served as chairman of the Supervisory Board of Klépierre, a publicly traded, Paris-based retail real estate company, and served on the board of Apollo Global Management Inc. “David’s legacy transcends financial performance. He was a leader of…

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

Amy Works — Tue, 24 Mar 2026 12:00:00 +0000

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…

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Missner Group, Cabrera Capital to Build $23.7M Industrial Project in Chicago

Kristin Harlow — Thu, 19 Mar 2026 13:37:11 +0000

CHICAGO — The Chicago Department of Planning and Development (DPD) has agreed to sell 8.2 acres of vacant land in the Stockyards Industrial Corridor to a joint venture between The Missner Group and Cabrera Capital, which will develop the property into a $23.7 million industrial building. The 126,360-square-foot project at 1924 W. 46th St. is expected to create up to 120 permanent jobs when fully leased. Potential tenants include restaurant suppliers, distribution companies, building material suppliers, event production firms and downtown service providers. The city acquired the site in 2008 for $2.2 million. It was primarily used for outdoor industrial storage since the early 1980s. The proposed purchase price is the property’s market value of $3.3 million. The proposed project was one of three responses to the request for qualifications from the DPD. A public meeting will be scheduled as part of the project’s formal review and approval process.

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Northmarq Arranges Sale of 28-Story Apartment Tower in North Dallas

Taylor Williams — Wed, 18 Mar 2026 14:22:16 +0000

DALLAS — Northmarq has arranged the sale of Eastline Residences, a 28-story apartment tower in North Dallas. Delivered in 2021 by Convexity Properties, Eastline Residences offers 330 units in studio, one-, two- and three-bedroom units, as well as penthouses on the top four floors. Residences feature stainless steel appliances, quartz countertops, individual washers and dryers and private balconies/patios. Amenities include a pool, clubhouse, fitness center and a business center. Taylor Snoddy, Eric Stockley and Charles Hubbard of Northmarq represented Convexity in the sale. Kevin Leamy and Lauren Bresky, also with Northmarq, arranged an undisclosed amount of acquisition financing on behalf of the buyer, New York City-based Kushner Cos.

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AH Realty Trust Agrees to Sell 11-Property Multifamily Portfolio to Harbor Group for $562M

John Nelson — Tue, 17 Mar 2026 12:00:00 +0000

VIRGINIA BEACH AND NORFOLK, VA. — AH Realty Trust (NYSE: AHRT), a Virginia Beach-based real estate investment trust (REIT) that changed its name from Armada Hoffler two weeks ago, has agreed to sell 11 of its 14 apartment properties to Norfolk-based Harbor Group International LLC for $562 million in an all-cash transaction. The deal marks an effort by AH Realty to pivot away from the multifamily sector. Harbor Group has provided a $15 million nonrefundable deposit for the transaction, which the companies say is not contingent on financing. The portfolio sale is expected to close in mid‑2026, subject to customary closing conditions. “HGI is acquiring a strong, stable portfolio that has served our company well,” says Shawn Tibbetts, chairman, president and CEO of AH Realty Trust. “By realizing the value of these assets, AH Realty Trust is able to simplify our business, strengthen our balance sheet and continue executing our strategy with clarity and purpose.” According to multiple media outlets, including the Baltimore Business Journal, the assets in the portfolio include: AH Realty Trust will retain Smith’s Landing, a five-story, 284-unit property in Blacksburg, Va. The firm will also keep The Everly and Solis Gainesville in Gainesville, Ga., with the intention…

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Why Commercial Debt, Equity Arrangers Are Excited for 2026

Taylor Williams — Tue, 17 Mar 2026 11:46:00 +0000

By Taylor Williams Olympic rings, Great Lakes, stages of grief, military branches and factors that point to a more robust landscape in the world of commercial debt and equity placement in 2026 — they all come in fives. Unlike the other items in that set, however, there is room for debate as to what those five capital markets factors actually are. But according to sources, they are, in no particular order of importance: • Rising investment sales volume, which allows for better pricing and risk assessment in the equity markets • No shortage of deals in need of recapitalization • Strong liquidity and competitive spreads in the debt markets • Short-term stability in the 10-year Treasury yield • Resilient acclimation to a new geopolitical environment Combined, these market forces form the basis of a larger perspective that is defined by optimism — and that optimism is rooted in both qualitative observations and quantitative analysis. And so far, the expectations of at least one major industry research and advocacy organization appear to be in line with the observations of individuals interviewed for this story. In early February, the Mortgage Bankers Association (MBA) released its 2026 Commercial Real Estate Finance Forecast report,…

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Public Storage Agrees to Acquire National Storage Affiliates in $10.5B Deal

Taylor Williams — Mon, 16 Mar 2026 11:57:00 +0000

FRISCO, TEXAS AND GREENWOOD VILLAGE, COLO. — Public Storage (NYSE: PSA) has entered into an agreement to acquire National Storage Affiliates (NYSE: NSA) in an all-stock transaction valued at approximately $10.5 billion. Under the terms of the agreement, which is expected to close in the third quarter, NSA shareholders will receive 0.14 of a share of Public Storage common stock for each NSA share they own. The same arrangement applies to shareholders of operating partnership (OP) units of NSA. The price represents a total consideration of $41.68 per share based on Public Storage’s closing per-share price of $297.72 on March 13, 2026. “Public Storage is the ideal strategic fit for our company given their best-in-class brand, operating platform and future growth profile, said David Cramer, CEO of NSA. “By joining PSA, we ensure that the entrepreneurial spirit of our regional partners is preserved within a global platform capable of driving unprecedented scale.” Immediately prior to closing, Public Storage and limited partners in NSA’s OP will form a joint venture that will consist of 313 properties on NSA’s operating platform comprising 19.6 million rentable square feet across 28 states and Puerto Rico. The estimated value of this joint venture is approximately $3.3…

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Esquire Agrees to Acquire Illinois-Based Signature Bank for $348.4M

Kristin Harlow — Fri, 13 Mar 2026 13:57:19 +0000

JERICHO, N.Y. AND ROSEMONT, ILL. — Esquire Financial Holdings Inc. (NASDAQ: ESQ), the parent company of Esquire Bank, and Signature Bancorporation Inc., the parent company of Rosemont-based Signature Bank, have entered into a definitive agreement pursuant to which Esquire will acquire Signature in an all-stock transaction valued at $348.4 million. The combined company will have approximately $4.8 billion in assets at closing. The deal provides Jericho-based Esquire with a Chicago-area commercial banking franchise. Signature brings longstanding history of commercial and commercial real estate relationship banking in the Chicago market. Esquire is active in the litigation vertical and is looking to expand its presence in the Chicago market. Each of the combined company’s and bank’s board of directors will consist of 11 directors, including nine from Esquire and two from Signature. Signature’s top three executives have entered into new employment agreements and will oversee commercial business development opportunities and operations in the Chicago market. The merger has been approved by the board of directors of each company. The transaction remains subject to regulatory approval, approval of Esquire and Signature shareholders and other customary closing conditions. The transaction is expected to close in the third quarter.

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