Top news for real estate pros
Chicago apartments, owned by late Sam Zell for decades, are selling to key player in billionaire’s biggest?deal
A Chicago apartment complex that late billionaire Sam Zell owned for decades is set to be sold to a key player in the biggest deal of Zell’s colorful career, the $39 billion sale of Equity Office Properties Trust in 2007.
Private capital firms look to invest billions in affordable apartments as federal aid?fades
Turner Impact Capital is the latest firm to launch a fund focused on affordable housing projects, aiming to raise $750 million in equity as it plans to invest a total of $2.3 billion in preserving and developing affordable apartments.
Blackstone sees Fed rate cut as ‘catalyst’ for deals, higher property?values
Blackstone invested or committed $54 billion in the third-quarter, the highest amount in over two years, as it said “the cost of capital peaked” in light of the Federal Reserve’s rate cut in September.
Publicly traded REITs return to capital?markets
REITs have returned to the capital markets, raising $64.9 billion in the first three quarters of 2024—already surpassing the totals from each of the past two years and signaling renewed investor confidence in REIT stock and debt offerings.
Why city, backers see Chicago office-to-apartments project as one model to revitalize US?downtowns
The first project from Chicago's LaSalle Street Reimagined is nearing the starting line, as backers of the city’s initiative to convert outdated office space into apartments say it can become a national model despite the high cost per unit.