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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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