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Patrick Hennessy joined Latham & Watkins as a partner in its London real estate practice, the firm announced Monday. He previously served as of counsel at Gibson Dunn. Hennessy advises private equity firms, global real estate investment funds, and private companies on complex corporate real estate and real estate private equity transactions.
According to Latham & Watkins, Patrick Hennessy advises on cross-border M&A, disposals, leveraged buyouts, joint ventures, and co-investments. Latham & Watkins also said Hennessy has deep expertise in real estate M&A and data center transactions across the UK, Europe, and Asia.
According to Latham & Watkins, Patrick Hennessy advises clients across the UK, Europe, and Asia on cross-border real estate and private equity transactions, including data center deals.
Patrick Hennessy joins Latham & Watkins from Gibson Dunn, where he was of counsel, according to Latham & Watkins.
Goodwin hired Thomas Henry, former co-head of Weil Gotshal's real estate group, as partner and co-leader of its Real Estate industry group in New York. Diana Brummer, leader of Goodwin's Real Estate industry group, said Henry will serve as a bridge between Goodwin's Real Estate, Investment Funds & Capital, and Private Equity groups to support sponsors and investors across the full investment horizon.
According to Goodwin, Thomas Henry has led some of the country's largest commercial real estate transactions, spanning public M&A, take-privates, portfolio acquisitions and dispositions, restructurings, and development transactions. He advises on equity investments, joint ventures, acquisition financings, mezzanine financings, commercial mortgage-backed securities financings, and REIT matters across every major asset class.
According to the source, Weil Gotshal has commenced its winddown, which preceded Thomas Henry's departure to Goodwin. The source does not provide further detail on the reasons for Weil Gotshal's winddown.
According to Goodwin, its Real Estate industry group has shaped seven of the eight largest REIT deals and represents 71 of PERE's top 100 real estate investment managers. Goodwin describes its platform as vertically integrated, spanning real estate funds, REITs, joint ventures, M&A, and other financing types.
Thomas Henry said Goodwin's strength in real estate combined with its focus on deep industry immersion gives the team an understanding of how real estate investors think and what it takes to get complex deals done. Henry said he looks forward to pairing his transactional experience with Goodwin's depth in private capital, technology, and life sciences to help clients advance their investment strategies.
Ivanhoe Cambridge sold the 87-building infill industrial portfolio to GID and StepStone for $985 million, according to PERE. The deal closed on 29 October 2026.
According to PERE, GID had managed the 87-building infill industrial portfolio since 2021, prior to GID and StepStone closing the $985 million acquisition from Ivanhoe Cambridge on 29 October 2026.
The portfolio acquired by GID and StepStone from Ivanhoe Cambridge consists of 87 infill industrial buildings, according to PERE. No further detail on specific markets, tenants, or building sizes is provided in the source.
The total deal size for the GID and StepStone acquisition of the infill industrial portfolio from Ivanhoe Cambridge was $985 million, according to PERE.
A newly formed joint venture between Open Industrial and Heitman acquired 700 Jernee Mill Road. The purchase was made on behalf of a separately managed account with the State of Hawaii, according to the JLL Capital Markets announcement dated October 21, 2026.
700 Jernee Mill Road comprises 6.5 usable acres and 28,600 square feet of maintenance and office space. The facility includes 15 drive-in doors, clear heights ranging from 24 to 28 feet, and 2,000 amps of power. The property was constructed in 1988, according to the JLL announcement.
The sellers were a joint venture between Ridgecut Road, Brennan Investment Group, and Global Gate. JLL Capital Markets represented the seller and also procured the buyer. The JLL team was led by Managing Directors Jason Lundy and Nicholas Stefans, along with Senior Analyst Luke Ceccoli.
700 Jernee Mill Road is 100% leased on a long-term basis to a global leader in temporary power generation and temperature control solutions, according to the JLL Capital Markets announcement. Nicholas Stefans of JLL described the tenancy as globally recognized.
Apollo will invest $1.34 billion of equity capital for an approximate two-thirds interest in the joint venture. The 19-property, 7,059-unit portfolio is valued at approximately $2.0 billion. UDR, Inc. will retain the remaining one-third ownership stake and continue to manage the properties, according to Connect CRE and TokenPost.
The 19-property portfolio in the UDR-Apollo joint venture carries a roughly 6% cap rate, according to Multifamily Dive. L'AGEFI also described the transaction as providing Apollo with a target real estate return of 6%.
The 19 properties in the UDR-Apollo joint venture have an average age of 39 years, according to Multifamily Dive.
The transaction is expected to close on the 29th of this month, subject to customary closing conditions and document execution, according to Yield PRO.
UDR, Inc. will retain a one-third ownership stake and manage the properties within the joint venture, according to TokenPost.
Realty Income Corp. raised $1 billion through a private offering of convertible senior notes, which it completed on August 14, 2026, according to the source text. No additional terms such as interest rate, maturity date, or conversion price are provided in the source.
Latham & Watkins LLP advised Realty Income Corp. on its $1 billion private offering of convertible senior notes, according to the source text. No other advisors are named in the source.
Realty Income Corp. issued convertible senior notes in a private offering that closed on August 14, 2026, according to the source text. The source does not provide additional structural details such as maturity, coupon, or conversion premium.
Yes. The source text identifies Realty Income Corp. as a real estate investment trust in connection with its August 14, 2026 closing of a $1 billion private offering of convertible senior notes.
The Marriott International headquarters tower in downtown Bethesda was valued at $430 million in the transaction. BXP sold its 50 percent ownership interest to joint venture partner The Bernstein Cos. and netted $83 million in proceeds from the sale, according to a April 21, 2026 report by REBusinessOnline.
Tommy Cleaver, Bill Shanahan, Dan Grimes and Chloe Neal of CBRE represented BXP in the sale of its 50 percent stake in the Marriott International headquarters tower in downtown Bethesda, Maryland, according to REBusinessOnline.
The Marriott headquarters tower holds LEED Gold and Fitwel certifications. Features include a rooftop terrace, a grand lobby with an LED wall and three-story atrium, a 7,500-square-foot fitness center, two dining offerings, an 11,000-square-foot childcare center, and an innovation center with a test kitchen, according to REBusinessOnline.
BXP delivered the 21-story Marriott International headquarters tower in 2021. Marriott fully debuted the tower in fall 2022, according to REBusinessOnline.
According to Marriott, the headquarters tower in downtown Bethesda can accommodate roughly 3,500 workers across 2,842 workspaces, as reported by REBusinessOnline on April 21, 2026.
Jemal Real Estate Strategies and DivcoWest are the joint venture partners, according to Connect CRE. The two firms announced the partnership on October 8, 2026, to acquire and convert 1255 23rd Street in Washington, D.C.'s West End from office to residential use.
The building being converted is located at 1255 23rd Street in Washington, D.C.'s West End neighborhood, according to Connect CRE. Jemal Real Estate Strategies and DivcoWest acquired the property through a joint venture announced on October 8, 2026.
According to Connect CRE, Jemal Real Estate Strategies and DivcoWest acquired 1255 23rd Street in Washington, D.C.'s West End with the intention of converting the office property to residential use. No additional details about the conversion scope, unit count, or timeline were provided in the source text.
RSM's survey found that 55% of family offices have no succession plan in place. Among those that do have a plan, only 37% have formalized it in a written document. The remaining family offices with plans rely on drafts, verbal agreements, or informal arrangements.
According to RSM's survey, only 37% of family offices that have a succession plan have formalized that plan in a written document. The rest rely on drafts, verbal agreements, or informal arrangements rather than a formal written succession plan.
According to RSM's survey, family offices that have a succession plan but have not formalized it in writing rely on drafts, verbal agreements, or informal arrangements.
RSM conducted the survey finding that 55% of family offices have no succession plan, and that among those with a plan, only 37% have a formal written document in place, according to Family Office Daily.
Rithm Capital retains a 51% majority stake in 1301 Avenue of the Americas and will operate the building through its subsidiary Elecor Properties. DRA Advisors is acquiring a 49% stake. The property is currently valued at $1.3 billion, according to sources close to the deal.
1301 Avenue of the Americas is fully leased. Tenants named in the source include KeyBank, Piper Sandler, Crédit Agricole, and O'Melveny & Myers.
The Elecor Properties office portfolio includes 745 Fifth Avenue, 900 Third Avenue, and 31 West 52nd Street in New York City, as well as One Market Plaza and 300 Mission Street in San Francisco, according to the source.
Rithm Capital acquired Paramount Group's entire office portfolio for $1.7 billion and rebranded the firm as Elecor Properties in April 2026. Elecor Properties, as a subsidiary of Rithm Capital, manages 1301 Avenue of the Americas.
A Newmark team consisting of Adam Doneger, Adam Spies, and Ben Lushing arranged the transaction, according to sources. Adam Doneger said in a statement that 'DRA's investment alongside Rithm reflects strong conviction in both 1301 Avenue of the Americas and the broader New York City office market.'
According to CoStar, the three tenants at 11400 Steeles Avenue East are DHL, Relay Logistics, and Speedy Transport. BGO acquired the 639,839-square-foot property for $143 million in September 2026.
CoStar cited BGO's $143 million acquisition of a 639,839-square-foot distribution facility in Toronto's GTA West market in September 2026 as evidence of ongoing demand for larger logistics assets, broadening the set of such transactions beyond U.S. deals to include Canadian properties.
The facility BGO acquired is located at 11400 Steeles Avenue East in the GTA West market, according to CoStar. BGO paid $143 million for the 639,839-square-foot property in September 2026.
An investment affiliate of 1788 Holdings, LLC acquired 51 Ritchie Road, a single-story light industrial building totaling nearly 103,000 square feet in Capitol Heights, Prince George's County, Maryland, for $15 million. The property is 100 percent leased and occupied by Bay Crane Mid-Atlantic.
Bay Crane Mid-Atlantic is the sole tenant and occupies 51 Ritchie Road at 100 percent occupancy. Bay Crane Mid-Atlantic was formed after Bay Crane Companies' 2024 acquisition of United Crane & Rigging and Crane Rental Company, making it one of the largest crane companies operating in the Mid-Atlantic region.
51 Ritchie Road is a single-story light industrial building of nearly 103,000 square feet on nearly eight acres, including two acres of industrial outside storage land. The building features 18- to 22-foot clear ceiling heights, 11 drive-in doors, and three dock doors, and is surrounded by a paved surface lot. It was delivered in the mid-1950s and renovated in the mid-1970s and in 1997.
1788 Holdings is a privately-owned real estate investment firm that owns and manages a national commercial real estate portfolio spanning 13 states with a market value exceeding $250 million, according to the source.
CBRE's Matt Laraway and Luke Wilson represented the seller in the $15 million transaction. 1788 Holdings was self-represented in the acquisition.
Stockbridge acquired 8511 Pepco Place in Upper Marlboro, Maryland from TA Realty for $56.6 million. Cushman & Wakefield's Mid-Atlantic Industrial Advisory Group represented TA Realty in the transaction.
Harris Company is the sole tenant and fully leases 8511 Pepco Place. Cushman & Wakefield described Harris Company as one of the nation's largest mechanical contractors and a provider to data center hyperscalers. Harris Company recently expanded into the balance of the building and also occupies 75,000 square feet at the neighboring 8520 Pepco Place.
Jonathan Carpenter, Executive Managing Director with Cushman & Wakefield, said the property offered a compelling opportunity to acquire a Class A industrial asset with strong existing tenancy from Harris Company and immediate access to the entire Washington, D.C. metropolitan region.
8511 Pepco Place is a 202,976-square-foot industrial facility in Upper Marlboro, Maryland, located adjacent to I-495/I-95 and approximately 15 miles from Washington, D.C., according to Connect CRE.
Cushman & Wakefield's Mid-Atlantic Industrial Advisory Group team of Jonathan Carpenter, Graham Savage, Dawes Milchling, and James Check represented TA Realty in the $56.6 million sale of 8511 Pepco Place to Stockbridge.
A joint venture of Brand Street Properties and AEW Capital Management acquired Deer Park Town Center for $125 million. The seller was PGIM Real Estate. The property is a 410,000 SF open-air shopping center located at 20530 N. Rand Road.
Deer Park Town Center is approximately 85% leased, according to the news release. Tenants at the property include Apple, Crate & Barrel, Gap and Lululemon. Brand Street Properties manages operations and leasing for the center and plans to rework public gathering spaces to drive traffic.
Two other large Chicago suburban retail transactions closed in September 2026. Las Vegas-based Rhino Investments Group acquired the 932,000 SF Randhurst Village in Mount Prospect for $95 million. Fairbourne Properties paid $122 million for Village Crossing, a 722,000 SF retail center in Skokie, at the beginning of September.
The $125 million Deer Park Town Center sale is the largest retail transaction in the Chicago area in a decade, according to the deal announcement. Prior to the Deer Park deal, the Fairbourne Properties acquisition of Village Crossing in Skokie for $122 million, which closed earlier in September 2026, had been the largest Chicago area retail deal since 2016.
Brand Street Properties manages operations and leasing for Deer Park Town Center and plans to rework public gathering spaces to drive traffic, according to the news release. Brand Street Properties Senior Vice President of Acquisitions Jordan Brandes said the firm looks forward to building upon the asset's success long-term.
Brixmor Property Group and Everview Partners agreed to acquire Slate Grocery REIT for $2.34 billion. Brixmor will directly acquire 23 shopping centers in Florida, Georgia and the two Carolinas for $636 million. A joint venture with Everview Partners and the Abu Dhabi Investment Authority will acquire the remaining 92 assets for $1.71 billion.
Brixmor will hold a 20 percent common equity interest in the joint venture covering the 92-asset portion of the Slate Grocery REIT portfolio. Brixmor will also serve as the portfolio's asset manager, property manager and leasing representative for those assets.
The transaction has already been approved by the boards of both Brixmor and Slate Grocery REIT and is expected to close in the first quarter of 2027, according to the announcement.
Brixmor CEO Brian Finnegan said the deal was motivated by a large amount of institutional capital entering the open-air, grocery-anchored retail space in recent years that validated the asset class. Finnegan said the acquired markets offer upside in rents and redevelopment opportunities, and noted a 70 percent market overlap between the new portfolio and Brixmor's existing assets.
Brixmor Property Group is a publicly traded REIT valued at $9 billion and holds a portfolio of 346 shopping centers spanning more than 63 million square feet, according to the announcement. Brixmor's existing tenants include Kroger, Publix, TJ Maxx, Burlington, Ross, Amazon and Whole Foods.
The recapitalization of TEP Government Holdings consists of three components: senior debt provided by Centennial Bank, a preferred equity investment from Eagle Point Credit Management LLC, and existing common equity controlled by Tanenbaum Equity Partners' principals. The transaction consolidated multiple property-level financings into a unified capital structure, resulting in a total portfolio value of approximately $450 million.
The TEP Government Holdings portfolio is leased primarily to 30 federal government agencies across 98 properties in 24 states. Properties in the portfolio are occupied by agencies including the Social Security Administration, U.S. Customs and Border Protection, the Federal Bureau of Investigation, and the Department of Veterans Affairs, according to the company announcement.
TEP Government Holdings reported a portfolio occupancy rate of 98% and a weighted average remaining lease term of 5.2 years, according to the transaction highlights released September 24, 2026.
Eagle Point Credit Management LLC served as the preferred equity partner in the $450 million recapitalization of TEP Government Holdings. Eagle Point manages $14 billion on behalf of institutional and retail investors and has over 120 professionals. Jaime Milgram, Vice President at Eagle Point, said the TEP portfolio aligns well with Eagle Point's investment strategy.
Tanenbaum Equity Partners is led by CEO Sunny Sajnani, COO Becky Tanenbaum Mallace, and Chairman Richard Tanenbaum. Richard Tanenbaum has a real estate career spanning more than 35 years. Since 1997, Tanenbaum oversaw the expansion of the affiliated Gardner Tanenbaum commercial portfolio from approximately 800,000 square feet to more than 8 million square feet, completing nearly 50 projects totaling more than $1 billion.
Pacific View Mall is an 884,000-square-foot, two-level enclosed super-regional shopping center located at 3301 East Main Street in Ventura, California, at the intersection of Highway 101 and Highway 126. The property has direct access to two major highways and two entrances off Main Street and Mills Road.
Pacific View Mall's anchors include Target, Macy's and JCPenney, alongside more than 130 national retailers including Sephora, Ross, Victoria's Secret, Trader Joe's and 24 Hour Fitness. The property also features an 11-option food court and dining destinations including Wood Ranch, Red Robin and California Pizza Kitchen.
PRCP will assume leasing and operational responsibilities for Pacific View effective immediately, contributing retail operating and leasing expertise. Conversant Capital contributes flexible capital capabilities and experience investing across real estate asset classes, according to the announcement.
Pacific View Mall is described as the only super-regional, two-level, enclosed shopping destination within its 25-mile trade area extending along California's Gold Coast, according to the announcement. The property features sweeping views of the Pacific Ocean and Pierpont Bay.
PRCP strategically leads over $2.5 billion and 22 million square feet in assets under direct management and leasing, according to the company. PRCP additionally manages four million square feet of asset management, advisory and master planning services.
Related Ross acquired Boca Raton Innovation Campus (BRiC), which spans more than 1.7 million square feet across two office buildings on a 124-acre site at 5000 T-Rex Avenue in Boca Raton, Florida. The property was originally developed by IBM as its North American research and development campus.
Newmark Group, Inc. arranged the financing on behalf of Related Ross. The Newmark team included Jordan Roeschlaub, Co-President of Global Debt & Structured Finance; Nick Scribani, Vice Chairman; John Caraviello, Managing Director; and Josh King, Executive Vice Chairman. Financing was arranged with Ares.
Related Ross plans to continue operating BRiC as an office and technology campus while advancing a long-term vision that introduces a curated mix of amenities, retail and restaurants. The acquisition also expands Related Ross's presence across Palm Beach County and marks its entry into Boca Raton.
BRiC offers two cafés, an 800-seat presentation hall, multiple event spaces and direct shuttle service to the Boca Raton Tri-Rail station. The campus is situated near Florida Atlantic University, Boca Raton Airport and two Interstate 95 interchanges.
BRiC was originally developed by IBM as its North American research and development campus and is recognized as the birthplace of IBM's first personal computer. The property remains one of Boca Raton's largest employment centers, according to the press release.
AEW sold the Walnut Tech Business Center to Irvine-based CIP, according to Commercial Observer. The transaction was published on September 23, 2026, and involved the 11-building industrial campus located in Walnut, California, for a total price of $60.7 million.
Irvine-based CIP paid $60.7 million for the Walnut Tech Business Center, according to Commercial Observer. The campus consists of 11 buildings and is located in Walnut, California. The transaction was published on September 23, 2026.
The Walnut Tech Business Center is located in Walnut, California, which is in the Los Angeles area of Southern California, according to Commercial Observer. The 11-building industrial campus was acquired by Irvine-based CIP from AEW for $60.7 million.
CIP acquired an industrial campus, specifically the 11-building Walnut Tech Business Center in Walnut, California, according to Commercial Observer. The transaction was published on September 23, 2026, and the purchase price was $60.7 million. The seller was AEW.
Ares Real Estate funds sold the eight-asset, 2.7-million-square-foot UK logistics portfolio to KKR and Mirastar, according to the September 22, 2026 announcement. KKR and Mirastar were advised by DTRE and DLA Piper on the transaction.
The portfolio is fully occupied with a weighted average lease term to break of nine years. Approximately 60% of the rent roll is derived from investment-grade tenants or subsidiaries of investment-grade parent companies, according to the announcement.
The assets are located across established distribution markets in the Midlands, South East and North of England, with specific locations including Corby, Doncaster, Stoke-on-Trent and Milton Keynes, according to the announcement.
Mirastar is a pan-European logistics developer, investor and asset manager founded in 2019 by Ekaterina Avdonina and Anthony Butler. Through Mirastar, KKR currently manages approximately €3.5 billion of assets under management totalling around 1.4 million square metres across the UK, France, Germany, Sweden, Italy, Spain and the Netherlands, according to the announcement.
Mai-Lan de Marcilly, Co-Head of European Real Estate Equity at KKR, said KKR continues to see strong fundamentals in UK logistics, underpinned by resilient occupier demand and constrained supply in key markets, and described the portfolio as offering durable income and meaningful growth potential.
Invesco Real Estate acquired Knightdale Marketplace for $86.7 million. The 323,000-square-foot super-regional shopping center sits on nearly 44 acres in Knightdale, North Carolina, roughly 10 miles east of downtown Raleigh, and was fully leased at the time of sale.
The seller was a joint venture between affiliates of Bailard Inc. and M&J Willow Ltd. Tom Kolarczyk, Andrew Kahn, Ella Glover and Katie Sanger of JLL represented the seller in the transaction.
Tenants at Knightdale Marketplace include Academy Sports + Outdoors, Best Buy, T.J. Maxx, Burlington, Ross Dress for Less, HomeGoods, Michaels, PetSmart, Barnes & Noble, Starbucks, Five Guys, Jersey Mike's, Qdoba, Tropical Smoothie Café, Subway and Visionworks. Three separate parcels are occupied by Wells Fargo, Arby's and Saltgrass Steak House.
Knightdale Marketplace was delivered in 2007 and 2008. The property spans 323,000 square feet of retail space across nearly 44 acres and was fully leased at the time Invesco Real Estate acquired it in September 2026.
Knightdale Marketplace is located in Knightdale, North Carolina, roughly 10 miles east of downtown Raleigh. Invesco Real Estate acquired the 323,000-square-foot super-regional shopping center for $86.7 million in September 2026.
An affiliate of Stockbridge Capital Group paid $86.5 million for an Amazon fulfillment center at 1125 Remington Blvd. in Romeoville. The warehouse totals 767,000 square feet. The deal closed Thursday, according to property records.
BGRE, the rebranded name of Brookfield Properties, sold the Romeoville warehouse to Stockbridge Capital Group. When BGRE acquired the property in 2024, it was valued at $58.1 million, according to CoStar News, which first reported the sale.
Axiom Properties sold two suburban Chicago apartment buildings for a combined $67.2 million. The properties are Westmore Apartments, a 230-unit complex in Lombard, and Whispering Trails, a 120-unit building in Naperville. Northmarq's Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb brokered the deal.
Seefried Industrial Properties completed demolition of three functionally obsolete office buildings at the northeast corner of Algonquin Road and Mount Prospect Road in Des Plaines and is progressing with construction on a three-building, 520,000-square-foot Class-A industrial development. This marks Seefried's 17th, 18th and 19th industrial development in the O'Hare submarket.
Sterling Bay and Ascentris landed a $93.5 million refinance for The Elizabeth, a 28-story apartment tower at 225 N. Elizabeth St. in Fulton Market. The property was completed in 2024 and includes 350 apartments. Draper and Kramer's Billy Barry and Bill Stewart led the team that closed the deal.
Funds managed by AB CarVal acquired a $340 million portfolio of 10 performing multifamily and single-family build-to-rent construction loans located across seven U.S. metros. North River Partners, an existing AB CarVal partner, will manage the portfolio, which consists of properties in various stages of construction.
AB CarVal funded $98 million worth of construction loans with North River Partners in 2025. The $340 million portfolio acquisition announced on September 14, 2026, extends that relationship into portfolio-level investing, according to the press release.
AB CarVal has approximately $26 billion in assets under management. Since 1987, AB CarVal's team has invested $162 billion across 5,905 transactions in 82 countries, according to the firm. AB CarVal is part of AllianceBernstein's Private Alternatives business.
According to AB CarVal, the firm focuses on real estate debt deals across bridge and construction lending, structured credit, and special situations. AB CarVal also invests in whole loan portfolios, forward flow agreements, specialty finance platform investments, commercial real estate loans, and structured credit.
Scott Greenfield, principal with AB CarVal, commented on the transaction. Greenfield said AB CarVal continues to 'leverage our flexible mandate and broad sourcing network to acquire what we believe to be high-quality assets that may generate compelling risk-adjusted returns for our investors.'
The source does not identify the seller. CBRE's Jimmy Slusher, Mark Damiani, James Tyrrell, and Shaya Northrup held the listing for the Shoppes at Chino Hills.
Stockdale plans to rename the property the Shops at Chino Hills and pursue a broader rebranding, remerchandising, and repositioning program to attract more national retailers, restaurants, and experiential concepts that the buyers said are underrepresented in the market.
The Shoppes at Chino Hills is anchored by Trader Joe's and Barnes & Noble. The tenant roster also includes national retailers, restaurants, and experiential concepts serving more than 300,000 residents within five miles, according to the buyers.
Hamilton Lane co-head of real estate Scott Davies said the combination of 'limited supply and strong demand from both consumers and retailers' made the Chino Hills asset attractive. The acquisition comes as investors have become increasingly more confident in retail, especially open-air and grocery-anchored shopping centers, according to the source.
Stockdale Capital Partners manages more than $3 billion across real estate sectors including retail, multifamily, hospitality, health care, and office, according to the source.
Independence Realty Trust will acquire Centerspace in an all-stock transaction. Each Centerspace share will be swapped for 3,800 IRT shares, leaving Centerspace shareholders with roughly 22% of the merged company's combined equity. The deal creates roughly 67.6 million new IRT shares and gives the combined company an $8.1 billion enterprise value. The transaction is expected to close in the fourth quarter, pending shareholder approval.
Before the deal, IRT had a 79% concentration in the Sun Belt. After adding Centerspace's entirely Midwest and Mountain West portfolio, IRT's Sun Belt exposure will fall to 58%, with 27% in the Midwest and the remainder in the Mountain West, according to a filing with the Securities and Exchange Commission.
IRT management identified $24 million of annual synergies from the Centerspace transaction. Of that total, $19 million is at the corporate level, with the remaining synergies coming from property-level savings. IRT management also said the deal is neutral on debt and expects it to be immediately accretive.
IRT leadership will take over management of the combined portfolio. IRT CEO Scott Schaeffer will continue to lead the board, and Jim Sebra will remain as IRT's chief financial officer. The board of directors will expand by two seats to be filled by Centerspace representatives. IRT did not disclose whether any Centerspace executives would join the management team.
Longpoint Partners paid $195 million for a 10-building Miami-Dade industrial portfolio totaling 729,901 square feet. The portfolio was 90% occupied by 74 tenants at closing, with 231 loading positions, clear heights up to 25 feet, both rear- and front-loading configurations, and a 40% floor area ratio, according to CRE Daily.
Longpoint Partners' two disclosed South Florida acquisitions together exceed 2.1 million square feet. The firm acquired a 1.4 million square foot portfolio across 12 Miami and Fort Lauderdale locations for $262 million in 2023, and has now added another 729,901 square feet through the $195 million Miami-Dade portfolio purchase, according to CRE Daily.
Longpoint co-founder Dwight Angelini said the firm's strategy focuses on functional small-bay industrial assets in well-located markets, with diversified tenant bases and locations where new supply is hard to create. Longpoint said the strategy centers on operating existing infill buildings rather than a near-term development program, according to CRE Daily.
Longpoint said the assets benefit from Miami's population growth, access to major transportation infrastructure, and proximity to consumer markets. Longpoint also pointed to limited new supply for well-located infill product and said it believes limited new supply can support durable value for institutional investors, according to CRE Daily.
Longpoint Partners' 2023 purchase of a 1.4 million square foot South Florida industrial portfolio for $262 million, spanning 12 Miami and Fort Lauderdale locations, was the largest single industrial deal recorded in Florida that year, according to CRE Daily.
CBRE Investment Management acquired Tenet Equity's net-lease platform for $1.6 billion. The portfolio includes 208 assets across 39 states totaling 12 million square feet of commercial real estate, fully leased to middle-market industrial tenants with an average lease term of roughly 17 years, according to CBRE.
CBRE Investment Management is the global investment arm of CBRE with $155 billion in assets under management, according to the announcement.
Tenet Equity, described as a sale-leaseback specialist and capital provider, will remain as an operating partner. CBRE Investment Management will partner with Tenet Equity on managing the assets and growing the net-lease platform, according to CBRE.
CBRE Investment Management appointed senior portfolio manager Akash Shivashankara to lead the management and growth of the net-lease platform. Truist Securities advised CBRE Investment Management on the transaction, according to the announcement.
Adam Gallistel, co-CEO and chief investment officer of CBRE Investment Management, said the net-lease sector is a hedge against persistent inflation due to its long lease terms and lack of capital expenditures.
Hines acquired three retail park assets totaling approximately 438,000 square feet, according to CRE Herald. All three assets are fully leased and located across Greater London. No purchase price was disclosed in the source.
The three retail parks acquired by Hines are located across Greater London, according to CRE Herald. The source does not identify the specific towns or submarkets within Greater London where the assets are situated.
Yes. According to CRE Herald, all three retail park assets acquired by Hines are fully leased at the time of acquisition.
Yes. According to CRE Herald, the three-asset acquisition expands Hines's existing retail park holdings in the UK, specifically in the Greater London region. The source does not detail the size or composition of the prior portfolio.
According to Avison Young, commercial real estate transaction volume reached $233.6 billion in the first half of 2026, as reported by Commercial Real Estate Direct on September 4, 2026.
Avison Young reported that first-half 2026 CRE transaction volume of $233.6 billion was up 14.7% from the $203.7 billion recorded in the first half of the prior year.
The $233.6 billion first-half 2026 CRE transaction volume figure came from Avison Young, as cited by Commercial Real Estate Direct in a September 4, 2026 staff report.
Ares Management paid a combined $108.7 million for two fully leased warehouses in Miami-Dade County, according to property records. The seller was BGRE, formerly called Brookfield Properties, which developed both buildings and completed them between 2022 and 2023.
Target is the sole tenant of the Hialeah distribution center, having signed a 10-year lease in 2022 with two five-year extension options, according to county records. E-commerce parcel delivery company LaserShip has leased the entire warehouse near Sweetwater.
The larger property is a 230,147-square-foot, 15-acre distribution center at 3811 West 108th Street in Hialeah, situated between Florida Turnpike and Interstate 75. The second is a 142,472-square-foot, 8-acre warehouse at 13190 Northwest 17th Street, west of the Florida Turnpike near Sweetwater, approximately 13 miles south of the first.
Since opening a Miami Beach office in 2024, Ares Management has made several South Florida industrial acquisitions. In addition to the $108.7 million two-warehouse purchase, Ares bought a 230,976-square-foot warehouse in Weston for $56 million and a 456,219-square-foot industrial portfolio in Broward County for $121 million last year.
A spokesperson for Ares Management declined to comment, and a representative for BGRE did not immediately respond to requests for comment, according to the article by Julia Echikson published September 4, 2026.
ExchangeRight Real Estate paid $94.8 million, or $126.48 per square foot, for the 749,550-square-foot industrial property at 9800 217th St. West in Lakeville, Minnesota, according to Commercial Real Estate Direct.
The industrial property acquired by ExchangeRight Real Estate in Lakeville, Minnesota totals 749,550 square feet, according to Commercial Real Estate Direct.
The acquisition of the Amazon-leased industrial property in Lakeville, Minnesota is associated with ExchangeRight Net-Leased Portfolio 61 DST, according to Commercial Real Estate Direct.
Arch Street Capital Advisors is tagged in connection with the ExchangeRight Real Estate acquisition of the Amazon-leased industrial property in Lakeville, Minnesota, according to Commercial Real Estate Direct. The source does not specify the advisory role.
The 749,550-square-foot Amazon-leased industrial property in Lakeville, Minnesota traded at $126.48 per square foot, for a total sale price of $94.8 million, according to Commercial Real Estate Direct.
Traditions Management, a Dallas-based developer and operator of senior living communities, purchased Doral Marketplace for $83 million, according to property records. Traditions Management assumed a loan with $50 million in outstanding debt, which has been assigned to Bank of Texas. The sale excluded a 1.8-acre parcel leased to Chick-fil-A.
The buyer, Traditions Management, assumed a loan with $50 million in outstanding debt as part of the $83 million transaction. That loan has been assigned to Bank of Texas, according to property records.
Whole Foods anchors Doral Marketplace with a 43,000-square-foot location. Other tenants include J. Crew Factory, Ulta Beauty, Shake Shack, First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa, and Apizza Brooklyn Resto + Vino. A Chick-fil-A occupies a separately leased 1.8-acre parcel excluded from the sale.
During the second quarter of 2026, Miami-Dade County retail average asking rents reached $42.50 per square foot, up 2.6 percent quarter-over-quarter, while the vacancy rate fell to 3 percent. More than 1.3 million square feet of retail space remains under construction in the county.
Atlanta-based SJC Ventures completed Doral Marketplace last quarter, prior to the $83 million sale, according to the source. The property is described as newly completed at the time of the transaction.
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