Latest Newsletters

Read the latest CRE Daily newsletter and explore past issues to catch up on any you may have missed.

November 3, 2022

Simon Says Malls Don’t Suck

One of the largest mall REITs in the country reported higher rents and occupancy rates for the quarter. CRE lenders are keeping cash on the sidelines, watching and waiting as the Fed’s rate hikes continue. Meanwhile, KKR launches a new, European real estate credit business arm, targeting $1–2B in originations next year.

November 2, 2022

Rocket Mortgage Heads Back to Earth as Rates Rise, Refis Dry Up

The Fed’s nonstop rate hikes are making mortgage rates so unappealing that the biggest mortgage lender in the U.S. is down 52% this year. The second-largest cinema operator in the world catches a huge break after settling a billion-dollar debt with landlords and lenders. Meanwhile, NYC real estate investment sales dropped 30% in Q3, impacting every asset class—except for one, which saw 34% growth.

November 1, 2022

Public REITs are in the 🚽

U.S. apartment prices record a quarterly decline for the first time since the pandemic, reflecting a broader real estate cooldown nationwide. Abu Dhabi’s nearly $1T sovereign wealth fund plans to increase North American real estate investments next year, and other Gulf funds are following suit. Meanwhile, as publicly traded REIT values decline, private, non-traded REITs keep growing…but for how long?

October 28, 2022

Blackstone’s Convictions

Kathleen McCarthy shares how she’s positioned her company’s $550B portfolio to meet rising inflation. Senior housing is in demand as more Baby Boomers enter their golden years. An investment group helps close an eight-figure deal for Google’s new digs in the Windy City. Meanwhile, an L.A.-based developer shuts down production on its new project in Austin, Texas until the economy shows signs of strengthening.

October 27, 2022

CMBS Borrowers Face $52B Hurdle

NYC landlords don’t know what to do about tenants selling weed under the table. Pension funds are pulling back on their commercial real estate binge as interest rates rise. Up to $52B in CMBS loans maturing over the next 2 years could be cutting it close. And despite WeWork’s fall from grace, coworking is still very popular.

October 26, 2022

QOFs Continue on Pace for $10 Billion Year Fueled by Multifamily Investment

Multifamily and commercial investment is outpacing other types of real estate projects in QOFs by a 3-to-1 margin. An under-the-radar real estate sector is earning solid returns for savvy investors. A single-family rental giant is seeking a $1B joint venture partner to bail them out of trouble. And one particularly resilient real estate sector refuses to back down from rising interest rates and high inflation.

October 25, 2022

Kushner Cos. Offers $4.3B For REIT That Doesn’t Want to Sell

The Kushner Cos. offered an NJ residential REIT $4.3B in an unsolicited takeover bid in their shift towards a more diversified, national rental portfolio.

October 21, 2022

🗽 NYC landlords holding 60K+ apartments for “ransom”

🏢 NYC’s 4th-largest office tower opened its doors. 💸 Investors are selling Fannie and Freddie CRTs like hotcakes. 📦 Blackstone (BX) and Prologis (PLD) are vying for control over warehouses. 😮 More than 60,000 rent-stabilized apartments are now vacant — and tenant advocates say landlords are holding them for ‘ransom’.

October 20, 2022

Demand for manufactured and modular homes, Chicago sells vacant lots, and DSTs are back in style

The demand for manufactured and modular homes that could solve the housing shortage is surging in cities around the U.S. Chicago plans to sell 4,000 vacant lots in an initiative to fight crime and revitalize neighborhoods with affordable housing Investors are turning to DSTs as a flexible and convenient way to diversify their real estate portfolios while also avoiding taxes.

October 19, 2022

EQT Exeter raises $3B, Titans reach deal for a new stadium, and Yellen sounds the alarm on Treasuries

EQT Exeter raises $3B from global investors for its new and oversubscribed industrial real estate fund. The NFL’s Tennessee Titans reach a deal with the state to build a new, $2.1B football stadium. Treasury Secretary Janet Yellen hints that all is not well with the U.S. Treasuries market. Meanwhile, Bell Partners snaps up a four-state multifamily portfolio for $313M for its latest fund.

October 18, 2022

Why are Kroger and Albertsons merging?

Two of the largest U.S. supermarket chains hope to join forces as inflation pushes food prices higher and as Amazon and Walmart become more powerful.

October 14, 2022

Hackman Capital Partners Raises $1.6B for Studio Fund

Hackman Capital Raises $1.6B For Media Property Fund. How 2 Real Estate Fund Pros Are Balancing Sticky Inflation and Rising Rates. And Chartres Lodging is Giving New Life to its New York City Hotel Portfolio.

October 13, 2022

Malls are in a bind, Brooklyn office rents rise, and Ares oversubscribes its 10th US CRE Fund

😑 A Massachusetts mall shows why regional operators are in a bind 🎯 Ares Management closes its 10th U.S. CRE fund with $1.8B 🏢 Brooklyn office rents rise, and tenants dump space on market.

October 12, 2022

Retailers are starting Black Friday sales early

💥 The Fed believes that the shift to remote work could lead to a SFR housing boom 🎰 A Houston billionaire is betting big on the recovery of the Las Vegas strip 📦 Big box retailers can’t wait to unload their excess inventory 📊 $80bn of DC capital is currently invested in private real estate

October 11, 2022

Affordable Housing Financing Could Loosen Up

⚖️ U.S. Treasury sets new tax credit to boost affordable housing. Blackstone swings a $750M refi for a Boston office tower. Meanwhile, Q2 2022 CMBS loan liquidations were higher than ever.

October 7, 2022

Growing Pains: The Future of “Data Center Alley”

Residents of Loudoun County, VA—the data center capital of the U.S.—are pushing back against the new constructions dominating their hometown. Dallas investors just snatched up a 93%-occupied, 7-state multifamily portfolio of secondary and tertiary market properties. Meanwhile, small businesses priced out of warehouses are scrambling to find new places to stash their inventories.

October 6, 2022

Micron Taps New York, Not Texas, For $100B Factory

A small Texas town is disappointed after Micron decides to build a new chip factory in New York instead. Brick-and-mortar retail recorded its best year since 1995 as many growth metrics exceed pre-pandemic levels. Meanwhile, with nearly all sectors in the red, asset managers can’t seem to agree on how much they should invest in public vs. private markets. . Let’s dive in!

October 5, 2022

NYC Office Buildings Face a $50B Wipeout

As the economic rollercoaster continues, NY office properties could be facing a steep $50B wipeout in value. Richmond and Minneapolis are now prime locations for medical office buildings. An old Koreatown retail center in LA just sold for a record-breaking figure. Meanwhile, Prologis has completed its all-stock acquisition of Duke Realty Corporation worth $23B. Let’s dive in!