Commercial real estate news: office, retail, industrial and multifamily trends, adaptive reuse, leasing, and investment across U.S. markets.
Henderson Park and Lowe bought the 1 million-square-foot mall from Unibail-Rodamco-Westfield and the Canada Pension Plan Investment Board, ending Westfield’s decades-long ownership of the South Bay property.
The Federal Reserve’s July 2026 Senior Loan Officer Opinion Survey shows banks eased commercial real estate lending standards in the second quarter, while loan demand stayed largely flat.
Manhattan tenants leased 3.87 million square feet of office space in July, up 28 percent year over year, with Midtown South driving nearly half the activity as availability hit a six-year low, Colliers reports.
Snapchat’s parent company has taken over the eighth through 10th floors at Vornado’s Penn 2 tower that Verizon leased just over a year ago for a headquarters it never occupied.
KBRA assigned a preliminary rating to a $1.036 billion single-borrower CMBS loan backed by 15 apartment complexes with 6,041 units across seven states, with KBRA valuing the portfolio 37% below the appraiser’s estimate.
Kairoi Residential, PGIM Real Estate and Germany’s Helaba Bank broke ground on a 420-unit ultra-luxury apartment development in Denver’s LoHi neighborhood, pairing a San Antonio developer with international institutional capital.
Greystone arranged a $105.8 million Freddie Mac refinancing for 476 apartments in El Cajon, California, on behalf of Apollo-owned Bridge Investment Group, as agency lenders keep backing stabilized multifamily assets.
A $91.8 million CMBS loan backed by Pittsburgh’s Gateway Center office complex was liquidated for $37.7 million, booking a $64.8 million realized loss, according to the trust’s SEC distribution filing.
Census Bureau data show U.S. construction spending fell 3.2% year over year in June to a $2,166.5 billion annual rate, as residential building cooled while nonresidential construction, led by data centers, held up.
CMBS distress climbed to 10.91% in July, its highest level of 2026, led by 16.65% distress among office loans, according to CRED iQ, as special servicing transfers outpaced actual delinquencies.
Security Properties, partnering with RGA ReCap on behalf of Reinsurance Group of America, acquired the 134-unit Langara apartment community in Issaquah, Wash., for $55.1 million.
Zions Bancorporation completed its acquisition of Basis Investment Group’s agency lending platform, gaining Fannie Mae DUS and Freddie Mac Optigo multifamily lending licenses and the team behind them.
Easterly Government Properties raised its 2026 core FFO guidance to $3.07-$3.13 per share after posting second-quarter core FFO of $0.78 per share, up from $0.74 a year earlier, on 98% portfolio occupancy.
Spirit Investment Partners and Strategic Value Partners, financed by Oaktree Capital, acquired 895 units across two newly built Houston and Denton, Texas apartment communities from Resia.
Agree Realty deployed a company-record $502 million into 102 retail net lease properties in the second quarter and raised its full-year AFFO and investment guidance as a result.
Regency Centers lifted its 2026 FFO and same-property NOI guidance after a strong second quarter, with leasing spreads above 10% on renewals across its grocery-anchored shopping center portfolio.
Piedmont Office Realty Trust raised its 2026 Core FFO and same-store NOI guidance for the second straight quarter, citing strong leasing across its Sunbelt Class A office portfolio.
Extra Space Storage’s second-quarter core FFO rose 4.9% to $2.15 per share as same-store NOI grew 3.5% and the REIT raised full-year guidance, even as self-storage transaction volume stays muted.
CubeSmart’s second-quarter net income rose to $89.6 million even as same-store NOI dipped 0.7%. The self-storage REIT also unveiled a new joint venture with Heitman covering 15 stores valued at $197 million.
Granite Construction’s second-quarter revenue rose 29% to $1.455 billion and adjusted EBITDA climbed 22%, even as a debt-settlement charge produced a reported net loss. Data-center-related backlog tripled to $223 million.
Toronto-based Vital Infrastructure Property Trust bought the East New York Health Hub, a 142,249-square-foot medical office building in Brooklyn, for $89.9 million, funded by European asset sale proceeds.
Healthpeak Properties bought the Allegro Senior Living community in St. Augustine, Fla., for $54 million, adding to the healthcare REIT’s senior housing portfolio amid strong sector-wide investor demand.
Mayor Brandon Johnson joined developers to break ground on converting a 25-story office tower at 500 N. Michigan Ave. into 320 apartments, including 64 affordable units, in a $162 million project.
Atlanta-based Varcity closed financing on a 239-unit retirement community inside Purdue University’s Discovery Park District, the first of a planned national network of campus-anchored senior housing.
Blackstone Mortgage Trust posted an $81.2 million second-quarter net loss as credit reserves tied to a defaulted Chicago office loan offset revenue that beat estimates, while the company redeployed capital toward residential and industrial loans.
KKR reported record fee-related and total operating earnings for the second quarter, with its Real Assets segment — covering real estate, infrastructure and energy — posting 18% AUM growth and the firm’s largest single-segment capital raise.
Goldman Sachs’ Urban Investment Group is providing a $116 million construction loan toward a $269 million redevelopment of Parkside Commons, a 393-unit affordable housing complex on Syracuse’s East Side.
A group of landlords and property managers has proposed a $359.9 million settlement resolving nationwide antitrust claims that RealPage revenue-management software let them coordinate apartment rents. The deal still needs court approval.
Camden Property Trust sold 11 Southern California apartment communities totaling 3,620 units for about $1.625 billion, redeploying proceeds into debt paydown, share buybacks and Sunbelt acquisitions.
VICI Properties President John Payne disclosed on the REIT’s Q2 earnings call that VICI and Caesars Entertainment are developing plans for an NBA arena on 50 acres of jointly owned land behind three Las Vegas Strip resorts.
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