FORT WORTH — John Burke of NorthMarq Capital's Houston office has arranged first mortgage financing of $6.5 million for Stockyards Center, a 102,910-square-foot, grocery-anchored shopping center located at 201 N.E. 28th St. in Fort Worth. A long-term, fixed-rate loan was arranged for the borrower, Houston-based United Equities, through NorthMarq's correspondent relationship with Aetna.
NEW YORK CITY — Construction is currently under way for the headquarters building of American Stock Transfer & Trust in Brooklyn, New York City. The project will focus on making the 145,600-square-foot building more sustainable. Energy-efficient mechanical, electrical and HVAC systems will be installed. The four-story building will also make better use of natural light. Other renovations will include a redesign of the building's façade, a new main entrance and new office layouts. W. Lerman Architects is designing the project. Completion is slated for the fourth quarter.
LOS ANGELES — CB Richard Ellis Group Inc. (NYSE: CBG) is planning to offer 50 million share of its Class A Common Stock in a public offering. Additionally, the company has provided underwriters of the proposed offering an option to purchase an additional 7.5 million shares to cover over-allotments. CBRE plans to use the net proceeds for general corporate purposes. Credit Suisse Securities (USA) LLC and Banc of America Securities LLC will act as joint bookrunning managers for the offering.
NEW YORK CITY, PARAMUS, N.J. AND BOSTON — New York City-based Lexington Realty Trust has agreed to the forward purchase of 3.5 million shares of its own common stock, in addition to the sale of 11.5 million additional shares to two Northeast REITs. Paramus-based Vornado Realty Trust will acquire 8 million common shares of Lexington’s stock, bringing its total number of Lexington common shares owned to 16.1 million. Boston-based Winthrop Realty Trust also agreed to purchase 3.5 million shares of Lexington’s common stock. All of the shares purchased in the transaction were traded at a price of $5.60 per share. The shares were previously held by AP LXP Holdings LLC, an affiliate of Apollo Real Estate Advisors III LP. In connection with Lexington’s forward purchase of its shares, the company has prepaid 50 percent of the purchase price and will make floating payments during the 3-year term of the forward purchase at an interest rate of LIBOR plus 250 basis points per annum. Vornado and Winthrop have also arranged 3-year, non-recourse financing at 50 percent of the purchase price for their commons shares purchased. The interest rate is also LIBOR plus 250 basis points.
STOCKBRIDGE, GA. — An undisclosed Ga.-based buyer has purchased two hotel properties in Stockbridge, the Sleep Inn and Magnolia Inn, from Atlanta-based Kasandas Properties for $6 million. Steve Kirby and Burton Brooks of the Mumford Company’s Atlanta office arranged the sale. The buyer intends to retain the Sleep Inn franchise and continue to operate the Magnolia Inn as an independent hotel.
By Doug Stockman, Helix Architecture + Design Straddling two states, Kansas City is one of the country’s most distinctive real estate markets. Since 1992, our firm has designed workplace, cultural, higher education and multifamily projects of all types in the city, with specialized expertise in adaptive reuse. We see multifamily as the most active segment in 2026. Compared with other states, Missouri’s support for new housing projects is about average. Kansas is near the bottom, because the state lacks the revenue to incentivize housing. Inventory on the Kansas side is also less, with most multifamily housing located outside the city. Looking ahead, low-income housing tax credit (LIHTC) incentives will ideally accelerate Kansas City’s biggest market demand — affordable housing. The Kansas City Affordable Housing Set-Aside Ordinance presents some obstacles. To receive city subsidies, multifamily developments must have 12 or more units, 20 percent of which need to be affordable for households earning 60 percent or less of the area median income (AMI). Alternately, developers can pay $100,000 into the city’s Affordable Housing Trust Fund. Further, developers must navigate a complex process of zoning approvals and community engagement meetings that culminates with a city council hearing. If approved, developers on the Missouri …
INDIANAPOLIS — Indianapolis-based mall owner Simon Property Group (NYSE: SPG) has unveiled plans to invest more than $250 million for the redevelopment of The Mall at Green Hills in Nashville, Cherry Creek Shopping Center in Denver and International Plaza in Tampa. Simon acquired the three properties in November 2025 as part of its purchase of the remaining 12 percent interest in The Taubman Realty Group LP that it did not already own. The $250 million investment reflects Simon’s focus on mall redevelopments to create modern environments that cater to today’s shopper, according to Eli Simon, the company’s chief operating officer. He says the redevelopment projects will mimic the recently completed transformation of Southdale Center in Minneapolis. The Mall at Green Hills will undergo a complete transformation and exterior revitalization featuring two-story flagship entrances, jewel-box spaces for luxury boutiques, new landscaping and “elevated arrival moments.” The interior will receive upscale finishes and architectural enhancements. The 1 million-square-foot mall opened in 1955 under the moniker Green Hills Village. Cherry Creek Shopping Center will receive modernized flagship spaces, refined architectural updates and upgraded storefronts. The enclosed mall, which officially opened in 1990, dates back to the 1950s when it was an open-air mall. …
NEW YORK CITY AND EL SEGUNDO, CALIF. — Brookfield Asset Management (NYSE: BAM) has entered into a definitive agreement in which one of the firm’s private real estate funds will acquire the outstanding shares of Peakstone Realty Trust (NYSE: PKST), an industrial REIT that has a strategic focus on the industrial outdoor storage (IOS) sector. The El Segundo-based company, which sold off its final office assets in December, currently owns 76 industrial properties, including 60 IOS assets. At a proposed price of $21 per share, the all-cash transaction represents an implied enterprise value of approximately $1.2 billion. The price represents a 34 percent premium relative to Peakstone’s share price on Jan. 30, the last full trading day prior to the announcement. “This transaction recognizes the value of our industrial portfolio and the progress we have made expanding our IOS platform,” says Michael Escalante, CEO of Peakstone. At the conclusion of the acquisition, Peakstone will be a privately held company and will be delisted from the New York Stock Exchange. Founded in 2009 as Griffin Realty Trust, the company was rebranded as Griffin Capital Essential Asset REIT in January 2023 and then as Peakstone Realty Trust in 2021. For Brookfield, the …
UPPER MACUNGIE, PA. — Pharmaceutical giant Eli Lilly & Co. (NYSE: LLY) will open a $3.5 billion manufacturing facility in the Lehigh Valley community of Upper Macungie. The development will span about 925,000 square feet across multiple buildings and is expected to bring about 850 new jobs to the region. A construction timeline was not announced. Lilly is acquiring the property at 9802 Main St. in Upper Macungie from Jaindl Land Development for the project. According to local news outlet WFMZ, this property is known as Fogelsville Corporate Center and is undeveloped agricultural land. In addition to the 850 permanent jobs, development of the new facility is expected to create about 2,000 construction jobs. According to Pennsylvania Gov. Josh Shapiro, the state committed more than $100 million in incentives to land the project, including $50 million in tax credits. Lehigh Carbon Community College will receive additional state funding and feed Lilly’s talent pipeline by creating and expanding academic and workforce training programs in life sciences. “Lilly’s commitment to the Lehigh Valley and to Pennsylvania will bring billions of dollars of investment and hundreds of good-paying jobs, solidifying our position as a leader in the growing life sciences industry,” Shapiro said …
NEW YORK CITY — Greystone has provided a $97.6 million HUD-insured loan for the refinancing of Villa Hermosa, a 272-unit affordable housing complex in East Harlem. Built in 1910, Village Hermosa offers one-, two- and three-bedroom units that are reserved for households earning 50 percent or less of the area median income. Eric Rosenstock and Jeff Englund of Greystone originated the nonrecourse loan, which carries a 35-year term and a fixed interest rate, through HUD’s 223(f) program. The borrower, Metropolitan Realty Group, will use a portion of the proceeds to fund capital improvements, including upgrades to unit interiors and building utility systems.