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.
B.C.’s commercial real estate sales smash records in 2017
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.
South Korean Investors Pile Into U.S. Commercial Property Debt
U.S. commercial real-estate owners are raking in debt capital from South Korean investors hunting for higher returns and better asset diversification.
DiversyFund Debuts $50 Million Growth Fund for Multifamily and Commercial Real Estate Deals
DiversyFund, 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.
Carl Icahn Cashing in His Chips on Tropicana Entertainment Collecting $185 Billion
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.
UPDATED Toys R Us Rejects Isaac Larian $890 Million 11th Hour Bid
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.
Fannie Mae and Freddie Mac Continue to Dominate Apartment Lending
Freddie Mac and Fannie Mae lenders are providing the overwhelming majority of permanent loans to apartment properties.
10 Must Reads for the CRE Industry Today (April 17, 2018)
Catch up on today’s 10 must reads in CRE!
Competition Intensifies for Value-Add Assets
For the past several years, investors have turned to the value-add strategy when seeking outperformance in a competitive commercial real estate landscape.
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