Commercial real estate news: office, retail, industrial and multifamily trends, adaptive reuse, leasing, and investment across U.S. markets.
A privately held hospitality investor says it has bid $2 billion in cash for all 93 of Service Properties Trust’s hotels, a price it says exceeds the REIT’s entire market value. SVC had filed no response as of Oct. 9.
Apollo Commercial Real Estate Finance declared its initial cash liquidating distribution on Oct. 9, 2026: $4.10 a share, payable Oct. 29 to holders of record Oct. 20. The proxy had guided to $3.70 to $4.00, and puts total distributions at $7.75 to $8.50 a share through a liquidation expected by the first half of 2028.
Equus Capital Partners sold the 85-building, 1.25 million-square-foot Tucson Shallow Bay Industrial Portfolio to Catalyst Real Estate and Everview Partners, in what the brokerage called the market’s largest industrial sale by price on record.
Erez Asset Management and founder Bruce Schanzer disclosed a 5.8% stake in Empire State Realty Trust in an Oct. 5 Schedule 13D, saying they have pressed the board on capital allocation and a potential strategic review of some or all assets.
The Dodge Momentum Index rose 2.4% in September to 288.0, but the gain came from hospitals and schools. Commercial planning fell 1.3% for the month and, excluding data centers, is down 14.9% from a year ago.
Tishman Speyer and The Cooper Union finalized a 150-year ground lease on the Chrysler Building on Oct. 7, with $235 million going into systems, facade and amenities. PSP Investments leads the equity, and the group is using no acquisition debt.
Funds affiliated with the merchant bank BDT & MSD Partners signed a definitive agreement to acquire the McLean, Va., senior housing operator from Canada’s public pension manager, with Sunrise’s executives taking a minority stake. Terms were not disclosed.
CTO Realty Growth paid $103.0 million, or $189 per square foot, for Summit Woods Crossing in Lee’s Summit, Mo., a nearly full 545,000-square-foot power center, taking its 2026 investment volume to $439 million.
The GEO Group completed the $950 million sale of three immigration detention facilities in Adelanto, Calif., totaling 2,644 beds, to the federal government through the Department of Homeland Security, and will keep operating them under an ICE contract that runs through 2034.
LTC Properties said Oct. 1 it paid nearly $160 million for three senior housing communities in Florida, Virginia and Maryland, funded by the sale of 20 triple-net-leased properties for more than $260 million, pushing its operating portfolio past 40% of net operating income.
Hines said Oct. 2 that Adam Hines will become co-CEO alongside Laura Hines-Pierce on Jan. 1, 2027, David Steinbach will become the firm’s first president and Jeff Hines will step back to chairman at the $91 billion real assets manager.
The grocery-anchored REIT is contributing 13 centers across eight states to Grocery Retail Partners I, extending the venture to 2036, and raised its full-year acquisitions guidance to as much as $700 million.
Gov. Wes Moore signed two executive orders Oct. 1 creating a modular housing initiative and a statewide permitting team, after a 2025 order cut environmental permit times 25%.
Private data-center construction reached an $85.0 billion annual rate in August, 73% above a year earlier. Strip it out and nonresidential construction is shrinking.
Stonelake Capital Partners held the final close of its eighth opportunistic fund on Sept. 30 at $1 billion, beating a $900 million target. It is already about 20% committed to logistics.
Carnegie Mellon said Sept. 30 that $2 billion of a $3 billion gift from Citadel’s Ken Griffin will fund a 35-acre campus in Wynwood, with construction slated for 2027 and students in 2028.
Holders of 57.1% of Apollo Commercial Real Estate Finance’s stock voted Sept. 29 to dissolve the NYSE-listed commercial mortgage REIT, five months after it sold its entire loan portfolio to an Apollo affiliate for about $9 billion. An initial cash distribution of $3.70 to $4.00 a share is expected within 30 days.
Open construction jobs dropped to 251,000 in August from 299,000 in July, yet remain above the 213,000 posted a year ago. NAHB’s chief economist points to data center construction up 46% year over year and immigration enforcement thinning crews.
Investcorp paid more than $225 million for 22 infill industrial buildings in Philadelphia and Nashville while closing out a 5.8 million-square-foot portfolio in Chicago, Dallas and Charlotte for more than $550 million.
Brixmor takes 23 grocery-anchored centers outright for $636 million while a joint venture with Everview Partners, backed by Abu Dhabi’s sovereign fund, buys the other 92 for $1.71 billion.
The Nasdaq-listed REIT signed a definitive agreement to sell 40 outpatient medical facilities for about $531 million and a letter of intent on its final four, leaving it a pure-play senior housing owner with roughly $244 million of acquisitions lined up.
Google.org will fund Hiring Our Heroes, Student Veterans of America and the Home Builders Institute to move 25,000 veterans and military family members into construction trades, without disclosing the grant amounts.
A Sept. 24 SEC filing shows Starbucks will shut roughly 1% of its more than 18,000 North America coffeehouses, with about $200 million in cash charges tied primarily to lease exit costs and severance, and net new openings guidance cut to about 440 from 600 to 650.
The National Multifamily Housing Council’s September 2026 construction survey found 29% of respondents starting fewer multifamily projects than three months earlier, up from 20% in June, while the share seeing labor costs outrun inflation more than doubled to 22%.
Deloitte’s survey of 950 commercial real estate executives puts business sentiment at 57.8 out of 100, a second straight annual decline, even as revenue expectations sit just below their 2025 record. Cost of capital ranked as the top concern.
The AIA/Deltek Architecture Billings Index came in at 47.2 for August, and the share of firm leaders expecting billings to grow in the fourth quarter fell to 25% from 31% two quarters ago. The same survey found 48% of firms engaging with AI and 7% running a formal training program.
The Indianapolis developer is asking accredited investors for as much as $230 million to build Class A apartments at six sites in Colorado, Kentucky, Montana, Arizona and Nevada, on the argument that four years of correction in the multifamily market have run their course.
Newmark arranged the GoldenTree Asset Management loan for a 95-residence, 59-key Auberge Resorts Collection project at the base of Steamboat Resort, after more than a quarter of the residences went under contract.
Northmarq acquired Richmond, Virginia-based Thirdline Capital Management and its registered closed-end fund, TREIX, giving the commercial real estate firm a vehicle it can sell to individual investors through wealth-management platforms. Terms were not disclosed.
U.S. construction starts fell to a $1.34 trillion annual rate in August, Dodge Construction Network reported Sept. 21, giving back most of July’s megaproject-driven jump. Data centers and power plants still dominated the largest groundbreakings.
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