In Tuesday’s commercial real estate news – we’ll give you a look at B.C.’s commercial record sales, Diversy’s $50 million growth fund for multifamily, the recent $890 million bid on Toys R Us, and so much more.
British Columbia commercial real estate investment activity and dollar volume achieved record heights in 2017 with the disposition of 230 office, industrial and retail properties valued at $7.5 billion during the record-setting year.
U.S. commercial real-estate owners are raking in debt capital from South Korean investors hunting for higher returns and better asset diversification.
, a real estate crowdfunding marketplace, announced on Monday it has launched its Commercial and Multifamily Real Estate Growth Fund. The funding portal reported that investors in this fund will own shares of a variety of real estate investments, with 80% of the fund dedicated to commercial and multifamily properties. Projected returns are between 15% and 20% per year. The minimum investment is $5,000.
Icahn Enterprises agreed to sell its majority-owned subsidiary, Tropicana Entertainment Inc., for a total price of $1.85 billion. The deal will see Tropicana’s real estate go to Gaming and Leisure Properties Inc. and its gaming and hotel operations to Eldorado Resorts Inc.
Toys R Us appears to be back on the verge of permanently closing its doors. Attorneys and advisers for the bankrupt retailer have reportedly rejected MGA Entertainment Inc.’s bid of $890 million for 274 U.S. stores and the Canadian operations, according to various news reports.
Freddie Mac and Fannie Mae lenders are providing the overwhelming majority of permanent loans to apartment properties.
Catch up on today’s 10 must reads in CRE!
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