National Commercial Real Estate News

  Real estate firm expands portfolio with massive ground lease purchase | Business Observer | Business Observer (businessobserverfl.com) UNIVERSITY PARK — Benderson Development continues to grow its portfolio of real estate holdings in the West Coast and mountain regions with the company’s latest acquisition. The real estate company, based in University Park, east Manatee County, recently acquired the ground lease of Plaza Santa Fe located in Santa Fe, New Mexico. The plaza is a 450,000 square foot market sitting on about 33 acres, according to a statement.  “Minutes from historic Downtown, Plaza Santa Fe is the dominant shopping center within a 50-mile radius,” Shaun Benderson, managing director of Benderson Development, says in a press release. “It’s a great asset in a great location, and we’re pleased to add this property to our expanding portfolio.” The company has been continually expanding its portfolio over the past few years. In April, the company purchased 28 Fre...

  Inflation Fears Spike Among Consumers Last week began with another scare on the inflation front when consumers reported that they expected prices to continue to rise over the next three years. More precisely, the median inflation rate over the next year expected by consumers rose to 4.8%, and over the next three years to an annual rate of 3.7%, according to a survey by the New York Federal Reserve Bank. Both were record highs for the survey that began tracking household expectations in 2013. (Of note, expectations for the next five years are far more moderate.) CoStar Economy: Inflation Fears Spike Among Consumers - dbush@bhhsflpg.com - Capstone Tropical Holdings Inc. Mail (google.com)

  Blackstone is digging deeper into the industrial asset class with a newly-announced agreement that its REIT will acquire WPT Industrial REIT of Toronto for $3.1 billion.  WPT acquires, develops, manages and owns distribution and logistics properties located in the US. Its portfolio includes 109 properties across 19 US states. Blackstone to Buy WPT Industrial for $3.1B | GlobeSt “Logistics remains one of our highest conviction themes as the sector continues to benefit from strong tailwinds driven by e-commerce,” said David Levine, senior managing director at Blackstone in prepared remarks. “We look forward to expanding our logistics presence across key U.S. markets with the acquisition of this high-quality portfolio that WPT has built.” The transaction price of US$22.00 per unit represents a 17.1% premium to the closing price of the units on the Toronto stock exchange on August 6, 2021, and a 19.5% premium to WPT’s 30-day volume-weighted average unit price on the Toronto stoc...

https://product.costar.com/home/news/shared/485670074?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p1&t=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJjb250YWN0SWQiOiIxOTUzNjY0IiwiY3VsdHVyZUNvZGUiOiJlbi1VUyIsImlhdCI6MTYyODYxMDgzOX0.2MB3i6ZY2O0-qosx8puVSaBJ7l1w82WYIbVhJjci9dw By  Lou Hirsh CoStar News August 9, 2021 | 11:21 P.M. AMC Theatres is betting that a resurgence in Americans heading out to cinemas will accelerate as the world’s largest theater operator looks at buying real estate in Los Angeles, Chicago and Atlanta and plans to screen more sports, concerts and video-gaming events. The number of visitors to  Leawood, Kansas -based AMC Theatres across the United States tripled from the first quarter of this year as theaters reopened in major markets with vaccinations increasing and blockbusters returning such as Disney’s “Black Widow.” Rival chains including Texas-based  Cinemark Theatres  reported similar gains. CoStar N...