Top News for Real Estate Pros
Blackstone Raises $30.4 Billion for ‘Largest Ever’ Real Estate Drawdown Fund
The world’s largest property owner added that its three opportunistic strategies — global, Asia and Europe — now have $50 billion of capital commitments. With the large influx of capital, Blackstone expects to no longer invest in traditional property sectors, such as retail or office, which have been ravaged by the remote working trend.
In July Blackstone had raised $24.4 billion for its 10th global opportunistic real estate fund, the largest closed-end private equity real estate fund at the time. It completed that raise in just three months and said then it would hold a final close of the fund at likely over $30 billion in capital.
Who Is Harlan Crow, the Real Estate Billionaire and Friend of Clarence Thomas?
Harlan Crow, the 74-year-old Dallas billionaire and real estate mogul of Crow Holdings, the private family office of the Trammell Crow family with more than $16 billion in assets under management that span more than 850 properties throughout the United States. Crow, a mega donor for the Republican party, put Thomas up at his private resort and other exclusive retreats, flew the Supreme Court justice on his private jet and hosted Thomas on vacations in his 162-foot superyacht, among trips that span two decades, according to the ProPublica report based on dozens of interviews and documents.
Midwest Apartment Markets Lead US Rent Growth As Sun Belt Sinks Further
Due to a massive new supply of apartments and slowing demand dragging the Sun Belt down in rent growth, Midwest apartment markets are taking the lead. Indianapolis held the No. 1 spot with 6.6% rent growth in February, while Cincinnati remained in second place with a 6.1% gain, trailed by Columbus, Ohio, again coming in third, according to the latest data from CoStar's Apartments.com. Miami fell from fourth to ninth place as some other Sun Belt cities also slid. The only major cities in negative territory in February, Phoenix and Las Vegas, were joined in March by Austin, Texas, and San Francisco.
Fast-Growing Sport of Pickleball Bounces Into Malls
Pickleball America has leased more than 80,000 square feet of anchor space at the Stamford Town Center in Connecticut, according to Rye Brook, New York-based broker Houlihan Lawrence's commercial division. The deal marks one of the highest-profile leases so far as the sport's popularity rises and includes more age groups as several years ago it was offered as amenities at multifamily developments, particularly for those 55 and older who are attracted to a sport that's a slower version of tennis.
These Downtown Chicago Farmers Bet Produce Will Soon Sprout From Nation’s Office Towers
A nonprofit venture called Farm Zero is negotiating to lease 70,000 square feet, and possibly much more, in a 22-story office tower across the street from City Hall, company founder and CEO Russell Steinberg told CoStar News.
If a deal is completed with building owner Golub & Co., the Burnham Center will become the first in a series of Farm Zero spaces in Chicago’s Loop business district, potentially producing much of the city’s fresh produce and generating thousands of new jobs.
Stay connected to the latest commercial real estate headlines. Follow CoStar News on LinkedIn and Twitter to receive breaking headlines in the office, retail, industrial and multifamily sectors.
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
1 年Thanks for the updates on, The Topp News For Real Estate Pros.