Entities tied to Adam Neumann, who built office co-working giant WeWork, have been quietly acquiring majority stakes in more than 4,000 apartments valued at more than $1 billion in Miami, Atlanta, Nashville, Tenn., Fort Lauderdale, Fla., and other U.S. cities. Many of these investments occurred within the past year.
Oak Hill has agreed to buy 110 North Wacker Drive from Howard Hughes Corp. in a deal that values the 1.5-million-square-foot skyscraper at more than $1 billion. That would be the highest price paid for a Chicago property building since the beginning of the pandemic.
Since Feb 21., 2020, just before the pandemic tanked markets, self-storage shares in the FTSE Nareit All Equity REITs Index have returned about 84% between price gains and dividend payments.
Blackstone Inc. is in advanced talks to acquire a 49% stake in One Manhattan West that values the skyscraper at $2.85 billion from a venture led by Brookfield Asset Management.
Landlords filled up 17 million square feet of additional real-estate space in open-air shopping centers last quarter, up 49% from 2019. The surge is propelled by increased foot traffic to grocery stores, curbside pickup and population shifts that favor suburban shopping.
More than half of U.S. industrial leasing in the third quarter involved users looking for space of less than 100,000 square feet, often a mark of a last-mile facility.
Amazon blanketed the country with more than 450 new facilities used to store, sort and ship items, doubling down on a logistics empire. Many of the new buildings are concentrated near big cities, putting more items for sale on the website closer to large population centers. The facilities also include more than two dozen smaller outposts stocked with bestselling items.
Investors had a record quarter, buying 90,215 homes worth a combined $63.6 billion. Investors made up 18.2% of all housing sales in Q3.
A venture between Hackman Capital Partners and Square Mile Capital Management has agreed to pay more than $1.8 billion for the historic CBS Studio Center in Los Angeles, the latest deal in the red-hot studio sector.
