The Bronx's Powerhouse Apartments project will benefit from a new expedited land use review process called Elurp, reducing the review time from over 200 days to 90 days. This affordable housing development will add 84 units on city-owned land and includes community facilities, a public school, theater space, and parking. The project exemplifies recent ballot measures aimed at speeding up affordable housing approvals in New York City, including streamlined environmental reviews and faster approval paths for certain projects.

The Salvation Army is seeking to sell two adjoining parcels totaling 1.9 acres in San Francisco's Mission District for $58 million. The site includes a 65,000-square-foot warehouse used for donations and an adjacent property housing a 96-bed addiction recovery center. The property is zoned for mid-rise development with potential for higher density due to its transit corridor location near the 24th Street Mission BART stop. The nonprofit continues to operate other properties nearby and runs multiple treatment and shelter facilities in the city.

CLK Properties secured $115 million in Freddie Mac-backed permanent financing to refinance the 918-unit Courtlands on the Park complex in Des Plaines, Illinois, marking one of Chicagoland's largest condo deconversions. The property, acquired in 2020 and extensively renovated, was converted from for-sale condos to market-rate rentals, reflecting strong suburban multifamily demand. CLK also obtained a $33.7 million Fannie Mae-backed loan for an apartment acquisition in Arkansas and is currently marketing Courtlands on the Park for sale after completing its value-add program.

Olshan Properties secured $40 million refinancing for 99 Hudson Street, a 17-story office building in Tribeca, Manhattan, New York. The building, built in 1920 and acquired by Olshan in 1983, currently has 97% occupancy with tenants like Chobani and ODA Architecture. The financing reflects confidence in the asset's performance amid strong Manhattan office leasing activity and declining availability rates in 2025.

Real Brokerage has acquired the Denton-based Bachman Realty Group, a top-performing team known for high sales volume in Texas. Denton and surrounding areas in the Texas Metroplex are experiencing rapid growth with large-scale residential developments including thousands of single-family homes and apartments. Despite a recent decline in home sale prices, the housing market remains active with increasing closings. Real Brokerage emphasizes technology to support agents and is rapidly expanding its agent base, particularly in Texas. The article focuses on residential real estate growth and brokerage activity in Texas and mentions North Carolina in relation to Fathom Realty.

Developer Izek Shomof is advancing his office-to-residential conversion projects in Glendale and Long Beach, California, including plans to convert a 19-story office building in Glendale into 312 residential units and a 24-story building in Long Beach into 391 units. These adaptive reuse projects are part of a broader trend in Los Angeles County, with other developers also converting office buildings into housing. Shomof's efforts include previous conversions and new residential developments in the region, contributing to the growing residential inventory in Southern California.

Voloridge Investment Management acquired parts of the mixed-use Harbourside Place complex in Jupiter, Florida, for $57.6 million, including two buildings with retail and office spaces, a vacant waterfront site, and a commercial building. The firm plans to expand by building an additional office for up to 200 employees and holds the first right of purchase if a marina is developed nearby. The rest of the property, including a hotel and amphitheater, remains with the original developer, Summit Ventures.

The Trump administration is proposing a rule to bar families with mixed immigration status from receiving federal housing assistance, potentially displacing tens of thousands of people from subsidized housing. The U.S. Department of Housing and Urban Development (HUD) plans to require all household members to verify citizenship or eligible immigration status to qualify for aid. While HUD argues this will prevent fraud and ensure assistance goes to eligible tenants, tenant advocates warn it could cause significant hardship and evictions among immigrant families. The rule will undergo a public comment period before potential implementation, which could lead to increased administrative challenges and tenant turnover for affordable housing providers.

Developer James Batmasian received approval to scale back the Royal Palm Place Hotel project in Boca Raton, Florida, reducing the number of hotel rooms and parking spaces due to higher construction costs, particularly eliminating below-grade parking. The 12-story hotel will feature 137 rooms, restaurant and retail spaces, and connect to a seven-story parking garage. The project is part of a larger 15.4-acre mixed-use area owned by Batmasian, who has a significant real estate portfolio in South Florida and Boston. Nearby developments include additional hotel buildings and a proposed large mixed-use project pending voter approval.

Development firm Wildflower sold a 245,337-square-foot warehouse in the College Point neighborhood of Queens, New York, for $92 million, significantly higher than the $35 million purchase price a year earlier. The property, formerly the New York Times distribution center, was redeveloped into the College Point Logistics Center and was intended as an e-commerce logistics hub. The sale was made to Terreno Realty, with Cushman & Wakefield handling leasing efforts prior to the transaction.

The Roosevelt Hotel in Manhattan, a historic property owned by Pakistan International Airlines, is set for joint redevelopment by Pakistan and the U.S. General Services Administration under a new memorandum of understanding. The hotel, which served as a migrant intake shelter until 2025, is located near Grand Central Terminal and is valued at around $1 billion due to its prime location in Manhattan's Plaza District. The redevelopment aims to navigate complex zoning and regulatory processes to maximize value, marking an unusual partnership between the U.S. government and a foreign-owned private hotel.

Hines sold a mixed retail and office property at 80 New Bond Street in London to Czech company Allwyn for £195 million. The 41,000 SF building includes retail space leased to Abercrombie & Fitch and office space leased to Allwyn and others. The transaction reflects strong investor demand and expectations for rising office rents in prime West End locations.

Maxxam Enterprises secured an extension on a $90 million CMBS loan for Promenade Gateway, a mixed-use property in Santa Monica, California, which includes multifamily, office, and retail spaces. Despite renovations and a prime location, the property has faced occupancy challenges, including lease cancellations by WeWork and AMC Theaters. Other Santa Monica landlords have also struggled with debt defaults and declining property values post-pandemic, highlighting financial difficulties in the local commercial real estate market.

CoStar is reducing its investment in the residential platform Homes.com and has laid off approximately 200 employees from that division as part of a strategic shift to focus on artificial intelligence and cut costs. The company plans to decrease its annual investment in Homes.com by 35% in 2026 and continue cutting by at least $100 million annually until 2030, following pressure from activist investors critical of the platform's financial performance. CoStar originally expanded into residential real estate about five years ago but is now refocusing on its core commercial real estate data business.

Beanstalk Academy, a child care and early childhood education provider, has signed two retail leases totaling 24,190 square feet in New York City. The first is a new 10-year lease for 13,190 square feet at 34 West 139th Street in Harlem, Manhattan, with an asking rent of $40 per square foot. The second is a 10-year renewal for 11,000 square feet at 950 Westchester Avenue in the Bronx, with an asking rent of $36 per square foot. These leases reflect Beanstalk Academy's commitment to growth and service in the New York City communities of Harlem and the Bronx.

Brightline, a private train service in Florida, has significantly underperformed its ridership and revenue projections, carrying 3.1 million passengers in 2025 versus the projected 6.6 million, resulting in financial strain and missed bond interest payments. Despite Florida's booming tourism, Brightline's Miami to Orlando route has struggled financially, reflecting the broader challenges of profitable passenger rail service in the U.S. The service continues to expand with plans for Downtown Tampa and has stations in several South Florida cities.

Blue Owl Capital denied reports of financing difficulties for its $4 billion data center development in Lancaster, Pennsylvania, leased by CoreWeave. The firm confirmed a $500 million bridge financing commitment and highlighted its limited exposure to CoreWeave. The project, part of a larger $20 billion data center development partnership with Chirisa Technology Parks, aims to expand capacity to 300 MW. Despite some market concerns about AI-related investments and data center financing, Blue Owl recently sold a $1.4 billion loan portfolio to avoid fund redemption issues and reported strong quarterly earnings.

Goldman Sachs affiliate purchased a 210-unit multifamily apartment building in Atlanta's Buckhead neighborhood for $90.8 million, marking one of the priciest multifamily sales in the area. The building, constructed in 2012 and recently renovated, features one- to three-bedroom units and is located near luxury retail, hospitality, and upcoming condo developments. The sale reflects strong post-pandemic rent growth and investor demand for prime locations. Additional condo and luxury apartment projects are underway or proposed in the Buckhead submarket, indicating active development.

Several prominent alcohol producers in Northern California are closing or selling their production facilities, including Gallo shutting down its Ranch Winery in St. Helena and reducing staff at multiple sites, Foley Family Wines & Spirits selling a Central Coast facility, and Hotaling & Company closing its Pier 50 distillery in San Francisco. These moves reflect a broader trend of wine and spirits companies trimming their real estate holdings on the West Coast.

Redfearn Capital and TPG secured a $150 million loan from Prospect Ridge to refinance a portfolio of 10 industrial logistics properties across Florida, including locations in Miami-Dade, Orlando, Clearwater, Jacksonville, and Naples. The loan includes $80 million initially and $70 million in additional capacity for future acquisitions. The properties are nearly fully leased, and the partnership has acquired 37 industrial assets totaling about 3.2 million square feet in Florida over three years.

The Roosevelt Hotel site at 45 East 45th Street, owned by the Pakistani government, is set for joint redevelopment with the U.S. federal government, facilitated by the General Services Administration and Pakistan's Ministry of Defence. The project involves a potential $1 billion equity investment and $2-3 billion in debt, with Pakistan retaining a 40-50% ownership stake. The property, which could be redeveloped into a 1.8-million-square-foot office building, has seen interest from major firms like JLL, CBRE, and Morgan Stanley, though the sale has been ruled out and the hiring process for marketing the site reset due to non-compliance issues.

Howard Hughes Holdings (HHH), recently acquired by Bill Ackman's Pershing Square Capital Management, is transitioning from a master-planned community developer to a diversified holding company. Despite a drop in net income in 2025, the firm reported strong operating cash flow and record earnings from land sales. Its core cash flow comes from office and multifamily assets, which saw year-over-year NOI growth. Ackman highlighted migration trends favoring states like Texas, Arizona, and Nevada, where HHH has significant residential holdings, while noting challenges in investor understanding of the firm's evolving strategy.

Quality Services for the Autistic Community (QSAC) has renewed its lease for a 13,266-square-foot space at 253 West 35th Street in Midtown Manhattan, New York City, for over 10 years. The nonprofit, which provides services to individuals with autism, has multiple locations across New York City and nearby counties. The lease renewal reflects QSAC's commitment to remain in the city and continue its services. The building also houses other nonprofit tenants such as NYC Housing Partnership and the New York Blood Center.

The Olayan Group secured an $800 million loan refinancing for its renovated Midtown office building at 550 Madison Avenue in New York City, known as the Sony building. The 41-story, 800,000-square-foot office tower underwent a $300 million redesign including lobby and facade improvements, boosting occupancy to about 96% with tenants such as Aquarian Holdings, Chubb Limited, Hermès, Junto Capital, and Clayton Dubilier & Rice. The building, originally designed by Philip Johnson and John Burgee, was purchased by Olayan in 2016 and had previously been slated for condo conversion.

Opendoor reported better-than-expected revenue of $736 million for Q4 2025 despite a net loss exceeding $1 billion due to debt extinguishment. The company improved its adjusted net loss and EBITDA loss compared to 2024, increased home purchases by 46% to 1,706 homes, and held over 2,800 homes valued at $925 million. Under new CEO Kaz Nejatian, Opendoor accelerated sales velocity and achieved high margins on recent home sales. The company anticipates a 10% revenue decline and adjusted EBITDA loss in the low- to mid-$30 million range for Q1 2026.

The U.S. Supreme Court ruled 6-3 that President Donald Trump exceeded his authority by imposing global tariffs using a federal emergency-powers law, striking down the tariffs. This decision is a significant setback to Trump's economic policy and was challenged by states and small businesses who argued the tariffs unfairly burdened domestic importers and consumers.

New York City's Department of Environmental Protection has leased 155,000 square feet at 24-02 49th Avenue in Long Island City for office and laboratory use, relocating from a smaller site in Flushing. The building, a large warehouse near Newtown Creek, was acquired by Innovo Property Group and partners and is part of a 20-year lease. The move addresses space needs for staff, equipment, and storage, with the lease details undisclosed. The site is significant due to its proximity to a superfund site and ongoing environmental remediation efforts.

The article discusses the proposed billionaire tax in California, which would impose a one-time 5% tax on assets of residents with a net worth over $1 billion starting in 2027. The tax aims to fund health care, education, and food assistance but has raised concerns about wealthy residents leaving the state, potentially impacting the real estate market and economy. Some brokers report an exodus of high-net-worth individuals to states like Florida, Texas, Montana, Nevada, and Arizona. The article also references the impact of Los Angeles's Measure ULA mansion tax on real estate activity and debates the effectiveness and consequences of such taxation policies.

Provident Resources Group acquired a 1.3-acre site near Florida International University in Sweetwater, Florida, for $22.5 million to develop a 20-story student housing apartment building with 205 units. The purchase followed a legal dispute between previous owners Workforce Housing Partners and Nef, which was settled in 2024. Provident secured significant financing including a $241.2 million tax-exempt bond and a $10 million mortgage to fund the project, which includes reserved units for students and faculty. This acquisition strengthens Provident's presence in the Miami-Dade FIU submarket, where student housing development is active.

Eckstrom, a Brooklyn-based developer known for converting multifamily properties into luxury townhomes, is expanding into Manhattan with two West Village properties and plans for more developments in Brooklyn Heights. Partnering with Compass agent Carl Gambino, the firm aims to capitalize on the high-end townhouse market despite rising costs. Eckstrom also has interests in the Hamptons market with a recent property purchase in Sag Harbor.

The Roosevelt Hotel in Manhattan, a 22-story, 1,025-room hotel closed since 2020 and previously used as a migrant intake shelter, is set for redevelopment through a nonbinding agreement between the Pakistani Finance Ministry and the U.S. General Services Administration. Owned by Pakistan International Airlines since 2000, the hotel sits on a valuable city block in Midtown Manhattan and may be redeveloped into a new office building. The deal involves real estate developer Steve Witkoff, who has close ties to President Trump and has been involved in diplomatic matters. The redevelopment could help Pakistan address its $7 billion IMF debt through asset sales.

Vocon, a commercial design firm founded in Cleveland, has expanded its presence with offices in New York City and Chicago. Sarah McCann, director of Vocon's Eastern region based in New York, focuses on office design projects for major landlords and tenants, emphasizing post-pandemic trends such as flexible, efficient workspaces and client-hosting areas. The firm is experiencing growth in New York City's office market, adapting to hybrid work environments, and integrating AI tools cautiously with client collaboration. Key projects include 850 Third Avenue and One Madison Avenue, reflecting a strategic approach to office space renovation and tenant needs.

BH Properties acquired and upgraded the R&D at Legacy office and flex industrial business park in Plano, Texas, securing five headquarters leases totaling 74,812 square feet and increasing occupancy to 72 percent. Tenants include Riken Vitamin Co., Ojos Locos Sports Cantina, US Youth Soccer, Airspan Networks, and Vector Power, with some relocating operations from California and Florida. The Dallas-Fort Worth suburban office market, including Plano, is recovering better post-pandemic compared to the urban core of Dallas, which faces higher vacancy rates and tenant losses such as AT&T relocating to Plano.

Irvine city leaders approved the demolition of an industrial asphalt plant and a deal with Brookfield Residential Properties to develop a new neighborhood near the Bowerman Landfill. The landfill has caused numerous odor complaints, leading to concerns about the impact on future residents. The city is working with the county to manage the odor issues and has required new residents to waive their right to sue over landfill nuisances. Long-term plans include improving landfill practices and exploring alternatives such as a trash train to transport waste farther from populated areas.

The article argues that New York City should focus on increasing commercial real estate transaction volume rather than raising annual property taxes to address a $5 billion budget deficit. It highlights how high transaction velocity generates significant revenue through transfer and mortgage recording taxes, which in turn supports the city's economy. The author emphasizes that stability, regulatory clarity, and investor confidence are key to boosting deal flow and sustaining fiscal health, using New York's 2015 $100 billion transaction peak as a precedent.

The article highlights record real estate transactions in South Florida, including a $15.4 million residential home sale in Palm Beach, a $32 million sale of two vacant parcels in West Palm Beach for a condo development, a $22.5 million purchase of a site in Miami for a 20-story student housing complex, and a $17.2 million warehouse sale in Delray Beach. These deals involve various property types and significant investment activity in Florida's commercial and residential markets.

The article discusses the early impact of Zohran Mamdani's mayoralty on New York City's real estate market, highlighting a generally positive outlook for office landlords, condo developers, and luxury home agents, while rent-stabilized building owners face challenges due to anticipated rent freezes and new regulations. It also covers local housing developments, significant property transactions, and ongoing debates over land use and housing policy in the city and surrounding areas.

New York City Mayor Zohran Mamdani has proposed a 9.5 percent property tax increase as a last resort to address a $5.4 to $7 billion budget gap, seeking additional state aid or a wealth tax first. The proposal has met resistance from Governor Kathy Hochul and commercial real estate leaders who warn it could harm investment, increase wealth inequality, and destabilize the market, especially affecting multifamily housing, office, retail, and hotel sectors. Local officials emphasize the need for fiscal responsibility and caution against burdening middle-class homeowners and working-class residents. The debate highlights tensions between city and state officials over tax policy and economic recovery post-COVID in New York City.

In New York City, 204 real estate transactions totaling $482 million were recorded within 24 hours on February 19, 2026. Key residential activity included a $9.4 million townhouse purchase in Yorkville. Significant commercial deals featured a $143 million sale of a development site at 250 Water Street in Lower Manhattan, a $92 million purchase of the College Point Logistics Center in Queens, and a $17.8 million sale of a commercial condo at 2035 Fifth Avenue, part of a mixed-use property.

Novare Group sold its last stake in the SkyHouse multifamily towers, including the SkyHouse Buckhead in Atlanta, Georgia, to UBS Realty Investors for $83.4 million. The SkyHouse properties, developed mainly in Southern urban markets during the 2010s, are Class-A multifamily buildings with over 300 units each. The sale is part of a recent surge in multifamily property transactions in Metro Atlanta, which is becoming a favored investment destination, especially for institutional buyers, as interest in Sun Belt markets grows. Atlanta ranks as the second-most popular U.S. city for multifamily investments in 2026, following Dallas-Fort Worth.

The Chicago Fire soccer team revealed a $750 million stadium concept at The 78 development in Chicago, Illinois, with plans to break ground in March 2024 and open in the second quarter of 2028. The privately funded 22,000-seat stadium will feature premium design elements and serve as a key venue for the 2028 Olympic soccer tournament. This project follows the approval by the City Council and coincides with other MLS stadium developments, including New York City FC's Etihad Park. Meanwhile, Chicago's Bears and White Sox are still seeking new stadium solutions, with Indiana showing interest in attracting the Bears.

Walgreens plans to close its 500,000 square foot distribution center in Houston, Texas, eliminating 159 jobs by June 1, 2024. The company will consolidate distribution services to its Waxahachie facility near Dallas, aiming to streamline operations and improve customer service. This closure is part of a broader strategy that includes shutting down 1,200 stores over three years and previous distribution center closures in Florida and Connecticut. The retail pharmacy sector is facing challenges, as evidenced by Rite Aid's recent store closures and Walgreens' acquisition by a private equity firm.

Massachusetts Housing and Livable Communities Secretary Ed Augustus is resigning to become CEO of UniBank and will be succeeded by Juana Matias. During his tenure, Augustus oversaw the enforcement of the MBTA Communities Act, which mandates multifamily housing development in certain areas, and helped pass the Affordable Homes Act to finance $5.1 billion for housing creation. The Healey administration aims to build 220,000 new housing units by 2035 and has introduced initiatives to streamline environmental reviews to accelerate housing development.

Property Markets Group (PMG) is developing Florida's tallest tower in Downtown Miami, a 90-story Delano-branded condo tower with 421 units near the Waldorf Astoria Hotel & Residences Miami. The project features residences starting at $800K, an observation floor, and luxury amenities. PMG collaborates with hospitality company Ennismore, which owns the Delano brand, expanding its presence globally. The Waldorf Astoria project secured a $668M construction loan and is expected to complete by early 2028, with over 90% of units sold.

John Yandle, a seasoned commercial real estate broker and longtime batting practice pitcher for the San Francisco Giants, has balanced a unique dual career for over four decades. His real estate work spans multiple property types including industrial, office, retail, and land, with notable deals such as Microsoft’s 65-acre San Jose purchase for data center and light industrial use. Yandle’s career highlights the challenges and rewards of managing diverse responsibilities across different markets, primarily in California and Arizona, while maintaining a passion for baseball.

Bill Gates has sold a midcentury house on his Xanadu 2.0 estate in Medina, Washington, for nearly $4.8 million after listing it earlier in the month. The 2,780-square-foot home, purchased by Gates in 1995 and renovated multiple times, features four bedrooms, multiple patios, and views of Lake Washington. Despite recent property sales, Gates continues to reside in his main 66,000-square-foot mansion, which is valued at $130 million and includes extensive luxury amenities. The reasons for downsizing some estate properties remain unclear.

Max Scherzer and his wife are selling their unfinished custom home in Jupiter, Florida, for $36 million after deciding to move to a new development in Hobe Sound. The property features luxury amenities including waterfront frontage, a dock, and a guest apartment. Scherzer, a Major League Baseball pitcher, previously purchased a home in Old Brookville, New York, which influenced their interest in the Hobe Sound area.

Indiana lawmakers have approved the creation of a stadium authority to finance and build a new NFL stadium near Wolf Lake in Hammond, aiming to attract the Chicago Bears from Illinois. The plan involves public financing through bonds backed by local taxes, with the Bears contributing $2 billion toward construction. Illinois officials express disappointment and continue negotiations, while Illinois lawmakers have delayed related legislation. The proposal highlights a regional economic development opportunity and ongoing competition between Indiana and Illinois for the team.

Incyte sold the partially renovated 500K SF Bracebridge office complex in Wilmington, Delaware, to Buccini Pollin Group (BPG), which plans a partial residential conversion while maintaining office and retail spaces. BPG aims to integrate the complex more with the neighborhood, completing renovations by 2027. Incyte will lease 80K SF post-renovation and continue job creation, though possibly fewer than initially planned. The project includes three buildings originally completed in the mid-1990s and formerly serving as MBNA's headquarters. The development is expected to benefit from the nearby relocation of Widener University’s Delaware Law School downtown.

The Department of Homeland Security plans to spend $38.3 billion acquiring warehouses and industrial buildings nationwide to expand detention capacity for immigration enforcement, including eight large 'mega-centers' and 16 smaller processing centers. This initiative has sparked protests and some property owners have withdrawn from deals, while others, including private prison companies, are cooperating. A notable $129 million warehouse purchase in Social Circle, Georgia, exemplifies local opposition. The federal government is focusing on red states, particularly in the Sunbelt, for these facilities.

@properties Christie’s International Real Estate in Chicago has launched a financing program called Concierge that offers home sellers up to $50,000 for non-structural renovations like repairs, staging, and landscaping before listing their homes. The loan is repaid upon sale, with no upfront fees, helping sellers present turnkey homes that sell faster and at higher prices. The program targets homes listed up to $4 million and aims to remove barriers to market readiness, benefiting both sellers and agents. This initiative is part of a broader trend with similar services offered by other brokerages in partnership with the fintech firm Notable.

Illinois Governor JB Pritzker proposed a two-year moratorium on new data center tax credits to address concerns about energy costs and demand, aiming to allow renewable energy projects to reduce the financial burden on consumers. The proposal aligns with local opposition to data center developments in Illinois cities like Naperville and Aurora due to energy consumption and environmental concerns. Other states including Virginia, California, Texas, Utah, Georgia, and Ohio are also considering measures to regulate data center impacts and costs on grid infrastructure.

Trademark Property Company received approval from the Arlington Economic Development Corporation board for an incentives agreement to redevelop the 470,000-square-foot Lincoln Square shopping center in Arlington, Texas, into a mixed-use hub called Anthem. The redevelopment includes infrastructure upgrades, facade improvements, parking enhancements, landscaping, and new public spaces, with plans to add a new office building. The project requires a $100 million investment and aims to maintain jobs and secure new leases, with a scaled-back plan that no longer includes a hotel or multifamily units. The agreement now awaits Arlington City Council approval.

A San Francisco church and Forge Development Partners face foreclosure on two parcels in the Tenderloin neighborhood due to a defaulted $6.8 million loan. The site, previously proposed for a large residential project including apartments and group housing, has faced regulatory and community challenges, leading to delays and revisions. Despite securing approvals for a 17-story, 261-unit apartment building with retail and church space, the project has not progressed amid rising construction costs and planning hurdles.

In Houston, luxury residential home prices have increased in 2025, particularly in affluent neighborhoods like Memorial (ZIP code 77024) and River Oaks (ZIP code 77019), despite a slight overall market decline. The luxury market's growth is attributed to limited supply, while the broader market faces a growing inventory of more affordable homes. Houston also experienced record-high housing inventory levels in 2024, with over 42,000 active listings at peak times.

Turnberry received initial approval in Riviera Beach, Florida, for a zoning amendment that would allow denser construction by eliminating setback requirements in exchange for payments to the city's park fund. The developer plans a 200-foot-tall condo building with 52 units and 121 parking spaces on Singer Island, aiming to increase property tax revenue to support local infrastructure needs, including a costly water plant replacement. The amendment, which passed a preliminary 3-2 city council vote, would apply to other projects and requires a second vote to take effect. The project is part of broader development activity in Riviera Beach, including other residential and hotel projects.

The article discusses the increasing number of commercial mortgage-backed securities (CMBS) loans reaching hard maturity without extension options, highlighting a significant refinancing challenge in 2026. It notes that lodging and office sectors now dominate the hard maturity loans, with lodging loans having the highest average debt yield. The refinancing environment is becoming more fragile, especially for loans with lower debt yields, and multifamily loans have the lowest average debt yield among troubled loans.

The William Warren Group secured $42.6 million in permanent financing for three self-storage properties located in Hawthorne, California, Waipahu, Hawaii, and Denver, Colorado. The loans were provided by MetLife and Barclays, highlighting the strong demand and stability of the self-storage sector, particularly on the West Coast. Additional significant self-storage financing and sales activity has been noted in California and Nevada, underscoring the asset class's prominence in these regions.

Casey Development, a San Antonio-based developer focused on the Austin-San Antonio corridor, filed for Chapter 11 bankruptcy due to economic shifts, construction delays, rising costs, and softening multifamily market rents. The bankruptcy involves 31 affiliated entities with $196 million in debt secured by multifamily, retail, industrial, office, and self storage properties primarily in Central Texas. The court consolidated the cases to streamline negotiations, despite lender objections regarding cash collateral use. Casey has appointed a chief restructuring officer to manage the process.

Jensen Infrastructure acquired 100 acres of land in Lancaster, California, to build a 400,000-square-foot precast concrete manufacturing facility, with construction expected to start soon and complete by March 2027. The project aims to address industrial space shortages in the Antelope Valley, which has a high vacancy rate but significant development activity. The article also highlights recent high-value industrial property transactions in Los Angeles County, underscoring the strong industrial market in Southern California.