Commercial real estate news and analysis for the Los Angeles market.
Convene Hospitality Group has closed on $230 million in expansion financing backed by TPG and Ares Management, signaling sustained institutional appetite for premium flex workspace and hospitality models. The capital raise positions the company to accelerate its national footprint growth amid evolving corporate real estate strategies.
TruAmerica Multifamily has closed its second workforce housing fund at $708 million, signaling strong investor appetite for affordable rental development. The fund aligns with founder Bob Hart's decade-long mission to address the growing gap between wages and housing costs across U.S. markets.
What began as a niche experiment is rapidly becoming a legitimate payment method in commercial real estate. As major firms adapt to decentralized finance, digital currencies are transforming how institutional players acquire and offload properties.
A boutique eight-unit multifamily property in Chicago's Lakeview East neighborhood has changed hands, highlighting sustained investor appetite for smaller, well-appointed residential assets in the city's North Side. Essex Three-Twelve brokered the transaction for the property located at 544 W. Wellington Ave.
Lendlease has commenced pre-leasing for 260 residential units situated within its broader Habitat mixed-use development in Los Angeles. The 12-story Habitat Residences building is slated to welcome its first tenants this spring.
Maxx Properties has acquired a 250-unit multifamily complex in Plantation, Florida, for $70 million from Bell Partners, marking the asset's second major trade in just a few years. CBRE Multifamily Capital backed the acquisition with a $55.1 million mortgage.
Preservation of Affordable Housing is launching a massive $40 million capital improvement campaign to renovate the 94-unit Corcoran Place Apartments. The comprehensive upgrade will bring new appliances, structural repairs, and an all-electric HVAC system to the West Side senior living community.
A 1.92-acre multifamily development site in Miami's Wynwood neighborhood has changed hands for $54 million, underscoring the persistent demand for residential build-to-rent opportunities in the city's trendiest submarkets. The transaction highlights the ongoing institutional interest in transforming underutilized commercial corridors near major transit arteries.
J.P. Morgan's Kurt Stuart is taking an unconventional approach to commercial real estate analysis, leading property tours combined with running sessions that showcase the firm's strategic focus on workforce housing in coastal markets. The initiative underscores the bank's conviction in supply-constrained markets with durable cash flows.
StoneHawk Capital Partners has obtained $56 million in HUD-backed construction financing for a new 269-unit apartment community in Garland, Texas, marking another significant investment in the thriving Dallas suburban corridor.
A joint development partnership has secured a nine-figure refinancing package for Union Channel, marking another milestone in Brooklyn's ambitious Gowanus Wharf development. The deal underscores continued lender confidence in the neighborhood's residential fundamentals despite broader market headwinds.
Developer Sam Nazarian is differentiating his latest Miami condo project through high-profile culinary and entertainment partnerships with Sofia Vergara and Marc Anthony. The 35-story HQ Residences aims to stand out in an increasingly crowded South Florida residential market.