The article discusses Steven Song, founder and CEO of Diald, an AI-powered decision intelligence platform for commercial real estate (CRE). It covers various topics including the challenges of judgment-driven CRE decisions, AI underwriting, and the future of CRE analytics. The article also highlights upcoming virtual and in-person commercial real estate events focused on multifamily and single family rental sectors, with locations in New York and Florida. Steven Song is based in Los Angeles, California.

Developer Giuseppe Iadisernia secured a $50 million mezzanine loan for a 250-unit condo tower in the Oasis mixed-use development in Hallandale Beach, Florida, following a previous $112 million construction loan. The project includes residential condos, office, and retail space, with construction expected to complete next year. Hallandale Beach has seen upscale development activity, including a $273 million loan for a condo and hotel building at Shell Bay golf country club, though some projects have faced financial difficulties.

Jadian Capital purchased a 53-acre fully leased industrial outdoor storage property on Staten Island, New York, for $167 million from Kadima Industrial Partners. The site, which includes waterfront dock and train access, is leased to City Asphalt and IAA auction house. The previous owner had acquired the property in two transactions totaling $79 million and invested $10 million in capital improvements. Jadian Capital plans to continue operating the site as an industrial outdoor storage facility.

Jaime Lee, former CEO of Jamison, a prominent Los Angeles real estate developer, has joined Kennedy Wilson as senior managing director of capital markets and investments. Kennedy Wilson manages approximately $37 billion in assets and recently partnered with Jamison on a joint venture to develop 4,000 affordable housing units in Los Angeles, including converting the former World Trade Center into apartments. Lee's experience includes growing Jamison's portfolio across office, multifamily, retail, and medical properties, with a focus on office-to-residential conversions. She emphasizes the strong investment potential in multifamily housing due to constrained supply and durable demand in the current market cycle.

Rexford Industrial Realty, a Los Angeles-based industrial REIT, is selling a portfolio of properties in Southern California to EQT Real Estate for about $1.2 billion as part of a broader plan to divest $1.5 to $2 billion in non-core assets. The sale aims to improve Rexford's portfolio by focusing on properties with stronger long-term growth potential and to use proceeds for debt repayment, share repurchases, and development projects. The portfolio includes 409 properties totaling nearly 50 million rentable square feet, all located in Southern California.

Diamond Home has signed a new office lease for 7,272 square feet on the fifth floor of 20 West 36th Street in Midtown South, New York City, with a term of seven years and seven months. The building, located between Fifth Avenue and Avenue of the Americas, has an asking rent of $46 per square foot. Other tenants include Unity Building Security and Publicolor, with recent deals also involving Expanscience at a nearby location. The leases are part of ongoing renovations with move-in dates in the coming months.

Zar Properties purchased two mixed-use buildings in NoHo, New York, for $21 million, marking a quick transaction amid competitive interest driven by tech and AI tenants. The buildings, owned by the Scott family for decades, include a seven-story and a three-story structure with current tenants like an art gallery. Nearby, Minskoff Equities and Edison Properties are developing two 99-unit multifamily buildings on a former parking lot at 375 Lafayette Street.

MNRK Music Group has leased 7,629 square feet of office space on the ninth floor of the 443 Park Avenue South building in Manhattan, New York. The lease term is seven years and seven months, with an asking rent of $48 per square foot. The building houses other tenants including tech and architecture firms, as well as retail stores. It is unclear if MNRK Music's move to this location is a relocation or expansion.

Empire State Realty Trust has agreed to sell the 22-story office building at 1359 Broadway in Midtown Manhattan to Thor Equities for $218 million, slightly below the earlier asking price of $225 million. The 486,000-square-foot property is 95% occupied with tenants including Infinium Wall Systems, SLCE Architects, and Braven, and features retail spaces such as Wolfgang’s Steakhouse and Wokuni. This transaction is expected to close within the next couple of months and marks another Midtown office acquisition by Thor Equities this year.

Finmarc Management acquired two office towers in Tysons, Virginia, totaling approximately 460,000 square feet for $77.5 million, continuing its focus on office space in Northern Virginia. The acquisition, funded partly by recent dispositions of office/flex and retail assets in Virginia and North Carolina, is part of a broader strategy to reinvest $250 million to $300 million into new acquisitions. Finmarc currently manages nearly 7.5 million square feet across the Mid-Atlantic region and remains confident in the Northern Virginia market fundamentals.

L3 Capital has leased retail spaces at 108 North Sixth Street and 184-192 Bedford Avenue in Williamsburg, Brooklyn, to brands including Bylt Basics and Zara, signaling growth in the area's retail market. The properties, redeveloped by L3 Capital, are part of a broader trend of high-end retail expansion in Williamsburg, with other notable tenants like Intuit TurboTax and Hermes establishing a presence. L3 Capital continues to invest in Brooklyn's retail corridor, contributing to its transformation into a trendy shopping destination.

A joint venture led by the Miami Design District owners secured $125 million in debt to develop Sweetbird North, a mixed-use building featuring retail and office space in Miami. The project is part of a broader expansion including a condo tower, a hotel, and other developments within the luxury Miami Design District, with financing from French bank Crédit Agricole and involvement from several private equity and real estate firms.

Burlington has signed a lease for 44,070 square feet of retail space at Century Marketplace, a new retail development in Bay Ridge, Brooklyn, New York. The project involves redeveloping the former Century 21 site into a 95,000-square-foot retail center, with 65% of the space leased including a grocery store. The development is expected to open in 2028 and aims to revitalize the local commercial corridor and support the community with new jobs and increased foot traffic.

The article discusses the impact of rising interest rates on commercial real estate values and investment strategies. It highlights how cap rates have increased across various property types, leading to significant value declines, with multifamily and office properties notably affected. Investors are adapting by focusing on cash flow, operational improvements, and optionality in financing rather than relying on future rate cuts. Strategies include targeting markets with constrained supply, purchasing below replacement cost, and repurposing obsolete office buildings, especially in major cities. The environment rewards disciplined underwriting and creative capital solutions, with opportunities in lending, discounted acquisitions, and repositioning in sectors with durable fundamentals.

Aptitude Development secured $26.5 million to acquire 53 acres in Vail, Colorado, for Edwards River Park, a 440-unit residential community combining affordable rental apartments and for-sale townhouses and condominiums. The project addresses workforce housing shortages in the resort area, with entitlement approval granted in July 2025 and construction expected to start within 12 to 18 months. The development includes 276 rental apartments and 164 for-sale homes, targeting both price-capped and market-rate residents.

The article analyzes New York City's 485-x housing production program, highlighting how developers strategically limit project sizes to under 100 units to avoid increased labor costs triggered by prevailing-wage requirements. This results in many smaller projects rather than large-scale developments, with a significant portion of new housing concentrated in the Bronx and Brooklyn. The program has restarted housing construction but may hinder addressing the city's housing shortage effectively. Recommendations include reforming the program to better support larger developments and fully utilize sites while maintaining labor standards.

Investor interest in office property transactions is showing signs of revival in 2026, with preference rising to 11 percent in Q2 from 4 percent in early 2025, driven by improved clarity on valuations and optimism about office conversions. Multifamily remains the top-ranked asset class despite cooling sentiment due to oversupply in the Sun Belt. Industrial property interest increased significantly, fueled by expectations of AI-driven demand for data centers, though concerns about risks and moratoriums exist. Retail demand is also improving, especially for grocery-anchored centers. Financing remains tight but available, with stricter underwriting standards focusing on local property conditions.

Santo Taco is subleasing a 2,800-square-foot retail space at 232 Bleecker Street in Manhattan's West Village, New York, previously occupied by Dig Inn. The sublease runs until 2041, with the space managed by Meerkat Development and brokered by ManagRE. Santo Taco, founded by Santiago Perez, will open its new location next month, adding to its existing two locations in New York City.

Goodland Pickleball has secured two new long-term leases totaling 30,100 square feet in Class A buildings in Williamsburg, Brooklyn, and Rego Park, Queens, New York City. The Williamsburg location will be the flagship site with multiple courts and amenities, while the Queens site will feature six courts including a badminton court. These locations mark the first indoor pickleball courts in Class A buildings in the city, with openings planned for late 2026 or early 2027. Goodland currently has over 11,000 members in NYC and plans further expansion.

A joint venture between Lincoln Property Company, Saber-Hightower, and Waterfall Asset Management acquired four commercial real estate properties totaling over 4 million square feet across New York, New Jersey, and Connecticut for $450 million. The portfolio includes iPark 84, a large industrial business park in East Fishkill, NY, a mixed-use center in Norwalk, CT anchored by a medical outpatient complex, a multifamily waterfront community with retail in Edgewater, NJ, and a transit-oriented apartment complex in Yonkers, NY. The deal involved complex financing and plans for future leasing, development, and repositioning of the assets.

In the second quarter of 2026, REITs showed strong earnings, particularly in the hospitality, industrial, and office sectors, despite challenges from high interest rates and declining investor sentiment. Hospitality and hotel REITs led growth with increased cash flow driven by travel demand, while industrial REITs benefited from acquisitions and data center development. Office leasing improved significantly, especially in New York City, defying expectations of decline. However, apartment REITs faced pressure from oversupply and rent declines, particularly in Sun Belt markets. Overall, REIT fundamentals remain solid, but investor caution persists due to rising Treasury yields.

OCVibe is a $5 billion, 100-acre master-planned mixed-use development in Anaheim, California, transforming the area around the Honda Center into a vibrant district with over 2,000 apartments, 170,000 square feet of office space, two hotels, dining concepts, parks, and entertainment venues. Privately financed by the owners of the Anaheim Ducks, the project emphasizes placemaking, flexible office space, and year-round activity to support both event attendees and local residents, with phased construction continuing through 2030-2031.

Pinnacle Group sold its leasehold rights to a 173-unit apartment building at 323 West 96th Street on Manhattan's Upper West Side to Lightstone Group for approximately $88 million. The sale included a 50 percent stake in the land rights and followed Pinnacle's bankruptcy filing of a large rent-stabilized apartment portfolio in New York City. This transaction is part of Pinnacle's broader effort to offload assets amid significant debt, including a recent $128 million sale of a condominium and commercial portfolio in New York City boroughs.

The New York City Council held a hearing to evaluate the controversial pied-à-terre tax targeting second homes in the city, amid criticism of its flawed rollout and privacy concerns. The tax affects single- to three-family homes over $5 million and co-ops and condos over $1 million, aiming to generate government revenue. Despite legal challenges and public outcry over the publication of personal information, the city is moving forward with implementation, with further hearings scheduled.

Vivienne Westwood is planning to open a boutique in a historic three-story building in Miami Beach, Florida, which it purchased for $6 million in 2024. The renovation will preserve the building's 1921 Art Deco and Mediterranean Revival style while adding modern elements, including retail space, executive offices, a bridal showroom, and a rooftop deck. This move aims to revive high-end retail in South Beach, an area that previously hosted luxury boutiques but saw many close or relocate to other upscale shopping districts.

The article profiles Vickey Barron, a highly experienced and award-winning real estate broker based in New York, highlighting her career achievements, philosophy of service over commission, and memorable deals. It emphasizes her dedication to helping clients, her long-term client relationships built on trust, and her influences and inspirations in the real estate industry.

College House has expanded its platform to offer investors and operators direct access to Green Street's investment analytics focused on the U.S. student housing sector. This integration provides detailed metrics such as cap rates, occupancy, and supply, along with a proprietary University Grades scoring system to assess rent growth potential at nearly 180 U.S. schools. Despite recent declines in asset values and slowing construction, capital is cautiously returning to student housing, with activity below 2022 levels and growth expected to be modest over the next two years.

SecurityScorecard, a cybersecurity risk management firm, has renewed its five-year lease for an 8,475-square-foot office space at 1140 Avenue of the Americas in Midtown, New York City. The renewal reflects the company's growth and commitment to the city, with the office offering modern amenities and a prime location. The landlord, American Strategic Investment Company, also leased space to Epic Insurance in the same building earlier in the year.

Arrow Real Estate Advisors, a capital markets advisory firm founded in 2024, has expanded its team by adding Ari Mandelbaum as a director to enhance its multifamily debt placement business. Mandelbaum brings extensive experience from Greystone and Dwight Capital, focusing on negotiating multifamily loans and helping borrowers with alternative financing strategies. His recent work includes a $36 million bridge loan for a multifamily property in Moreno Valley, California. This addition follows the hiring of Jeff Weinberg as managing director, signaling Arrow's growth in commercial real estate capital markets.

Stonemont Financial Group and Cerberus Capital Management secured a $672 million refinancing deal for an industrial outdoor storage portfolio, marking the largest financing in the IOS sector. The portfolio includes 78 properties across 830 acres in 33 unspecified U.S. markets. The financing was originated by Realterm and Starwood Property Trust, highlighting strong demand and favorable rent dynamics in the industrial outdoor storage sector compared to traditional big-box distribution. The sector continues to attract significant capital due to its unique supply and demand characteristics and above-market rent performance.

The article discusses the financial challenges faced by New York City's rent-stabilized housing due to rising operating expenses outpacing revenue growth, exacerbated by regulatory constraints on rent increases. It highlights the Article XI program as a temporary relief measure that reduces property tax burdens for distressed buildings, improving cash flow and preventing foreclosures. However, the article argues that while Article XI provides short-term financial relief, it does not address the underlying systemic issues causing the economic imbalance, such as regulatory limits on revenue growth and increasing expenses, and warns of the broader fiscal impact on the city if the program is widely expanded.

The article discusses the emerging need for standardized disclosure in the data center industry to improve comparability and transparency among projects. While data centers already have building evaluation standards like LEED and Energy Star, there is no common framework for pre-construction project disclosures, which complicates permitting, investment, and public trust. The author argues that adopting a common language for project impacts will reduce uncertainty, streamline approvals, and become a competitive advantage as the industry matures.

EQT Real Estate is expanding its industrial property portfolio in Southern California with a $1.2 billion acquisition from Rexford Industrial Realty, which is divesting non-core assets as part of a $2 billion disposition plan. The sale supports Rexford's financial strategy to improve its balance sheet and focus on properties with strong long-term growth potential. Despite current challenges in the industrial sector, market forecasts predict improving conditions and rent growth by 2026 and 2027.

The article discusses the growing shortage of quality multifamily buildings for sale in New York City despite strong investor demand and increasing transaction activity. While capital is abundant, the limited supply of well-located, free-market multifamily properties with scale is driving competition and impacting pricing. New construction is unlikely to quickly alleviate this shortage due to regulatory challenges and slow development pipelines. The market is shifting from a capital shortage to an inventory shortage, with investors focusing on attractive, larger multifamily assets in boroughs like Manhattan, Brooklyn, and the Bronx.

A study by DataTrace reveals that AI-only title searches are insufficient for reliable and insurable title decision-making, missing significant issues in over 40% of residential files reviewed. The research emphasizes that AI performs best when combined with structured, validated title plant data and expert guidance, highlighting the importance of traditional title plants in ensuring accuracy and reducing risk in property title searches.

Boom, a leasing operating system focused on single family rentals and manufactured housing, has raised $15 million in Series A funding to expand its product offerings and engineering team. The company provides financial services infrastructure for rental operations, including automated rent reporting and tenant screening tools, and serves over 400 operators with approximately 500,000 units. Boom aims to improve the leasing process using AI-driven compliance and underwriting, differentiating itself from other leasing CRMs that primarily target multifamily properties.

Atrium, a San Diego-based AI analytics startup, has launched a platform tracking $1.3 trillion in debt financing behind nearly 4,300 U.S. data centers, revealing complex credit structures involving mortgages, syndicated loans, private credit, corporate debt from hyperscalers, and regional utility debt. The report highlights major lenders, refinancing risks due to rising interest rates, and challenges including power supply constraints and growing political opposition, especially in Northern Virginia, which hosts the largest concentration of data centers. The platform aims to provide a comprehensive, ongoing view of data center financing and broader real estate credit markets.

BTF Whitestone LLC secured $75 million in financing from Acadia Realty Trust and Northmarq to purchase and redevelop the Whitestone Shopping Center in Queens, New York. The 119,584-square-foot retail property, anchored by Key Food Supermarket and other retail tenants, aims to be transformed into a vibrant neighborhood shopping center. The acquisition and redevelopment reflect strong demand for grocery-anchored retail centers in New York City, where retail availability remains low despite a slight dip in prime market rents.

Starwood Asset Management secured a $482.5 million CMBS loan to refinance a nearly full single-family rental portfolio of 1,749 homes across 10 states, with a significant presence in Georgia, Arizona, and Florida. The portfolio, assembled between 2021 and 2022, is over 96% leased and includes homes averaging 1,812 square feet. Starwood is also expanding in multifamily housing, recently acquiring affordable housing properties in Miami-Dade County. The loan was originated by Japan's Nomura Securities, marking a major re-entry into the U.S. market for the firm.

Extell Development acquired 110 East 55th Street, a 19-story office building in Midtown Manhattan, for $65 million after a foreclosure suit was filed against the previous owner. Extell's founder Gary Barnett is expanding his portfolio of Midtown properties, including recent acquisitions and development projects such as office towers, residential skyscrapers, condominiums, and mixed-use buildings in Manhattan. The firm is actively developing several high-profile projects in the area, signaling significant growth in the Midtown real estate market.

Terreno Realty acquired a 28,000-square-foot warehouse located at 659 Court Street along the Red Hook waterfront in Brooklyn, New York, for $26.3 million from LBA Properties. The industrial property, leased to a maritime goods and services provider, features parking for 70 cars and two loading bays. The transaction reflects strong industrial sector leasing fundamentals, with a notable increase in leasing activity and decreased vacancies nationwide.

A publicly traded aircraft finance firm purchased the under-construction Cocomar Business Park, a three-building industrial campus totaling 375,000 square feet in Coconut Creek, Florida, for $118 million. The campus features industrial buildings with office space, 32-foot ceilings, 78 dock doors, and 313 parking spaces, and is expected to be completed in the third quarter of the year. The seller was an affiliate of Greystar, which had acquired the site the previous year for $30.5 million. The buyer currently owns other properties in Florida and operates globally with a fleet of aircraft and engines leased to multiple lessees.

PGIM Real Estate sold a newly completed assisted living facility called The Arbor at Delray in Delray Beach, Florida, for at least $140 million to Artemis Real Estate Partners. The 7.2-acre property includes 207 apartments, a recreational clubhouse, and a nursing home, marking one of the largest retirement home sales in South Florida recently. The sale reflects a strong market for assisted living facilities in Palm Beach County, where occupancy rates and rents have increased significantly.

New York City Mayor Zohran Mamdani and the Department of Small Business Services have allocated $8.4 million in grants to business improvement districts across the city's five boroughs to enhance public art, street cleaning, lighting, and directories, aiming to increase foot traffic for 20,000 local businesses. Brooklyn received the largest share of funding, followed by the Bronx, Manhattan, Queens, and Staten Island.

Developer Shimon Klein has filed plans to build three 99-unit residential towers in Downtown Brooklyn, New York, near a major retail redevelopment of the former Macy's building. The proposed 27-story buildings will include residential units, commercial and community spaces, and rooftop amenities. The project aims to utilize a city tax abatement program and will offer modern residential features such as communal lounges and coworking spaces.

Corpay Cross-Border Solutions has signed an 11-year lease for 17,778 square feet at Rudin's 560 Lexington Avenue office building in New York City, planning to relocate its headquarters there this fall. The deal highlights Rudin's recent portfolio investments that allowed for minimal modifications and an accelerated move-in timeline. The 22-story office tower has seen significant leasing activity recently, including tenants like Marex, SummitTX, and Industrious.

John McCullough, president of Kennedy Wilson's multifamily development group, oversees the firm's U.S. development business following its $347 million acquisition of Toll Brothers' apartment living platform. The acquisition included interests in 18 apartment and student housing properties and a pipeline of 29 development sites. Kennedy Wilson aims to expand its development platform across the country, with active projects along the East Coast, Texas, the Mountain Southwest, the Pacific, and the Southeast, including new student housing deals in the Carolinas and Texas.

Varia US Properties AG has partnered with Brookfield Asset Management to form a $693.9 million multifamily joint venture focused on higher-quality multifamily assets across nine states. The JV includes 13 of Varia's 17 multifamily properties totaling 4,112 units, with plans to acquire high-quality residential communities and dispose of older properties. The partnership aims to leverage $200 million in buying power to expand the portfolio, primarily targeting tertiary and secondary markets with strong employment and population growth amid robust national multifamily demand.

Southern Land Company has appointed Tony Marchbanks as national president of homebuilding to lead single-family home development with a focus on Tennessee, Texas, and Colorado. The company is expanding its residential portfolio, including master-planned communities and multifamily properties in various locations. Southern Land is also launching a mortgage lending division to support its construction pipeline amid challenging market conditions.

Trent Johnson and Brian Landrum of Harbert Management Corporation discuss their extensive experience and investment focus in the senior living sector, emphasizing the evolving demands of the Baby Boomer generation for upscale, amenity-rich senior housing. They highlight the positive demographic trends driving demand, the current capital market environment, and the challenges related to development capacity and financing. Their investment strategy targets independent living, assisted living, and memory care properties, excluding senior apartments and skilled nursing due to complexity and regulatory risks. The senior housing asset class is poised for growth due to demographic tailwinds and underdevelopment, with a need for increased development expertise and capital to meet future demand.

The article discusses the high rent prices in New York, particularly Manhattan, highlighting recent rent freezes on rent-stabilized apartments and the pied-à-terre tax on luxury apartments. Despite concerns, luxury sales remain steady except for the very high-end market. The article emphasizes that increasing housing supply, including affordable and mixed-income developments in the Bronx and Astoria, is key to addressing affordability. Additionally, there were notable office and retail leasing activities in New York, and mentions of multifamily portfolio financing in Texas and a warehouse controversy in Los Angeles.

Millennium Partners secured a $281 million C-PACE loan to fund energy efficiency upgrades at the 62-story Winthrop Center, a mixed-use building in Downtown Boston, Massachusetts. This financing, part of the PACE Massachusetts program, represents the largest C-PACE deal in New England and was combined with a $575 million CMBS loan for the office and retail components of the tower. The project highlights significant investment in sustainable building practices and long-term capital support for energy-efficient residences in Boston's financial district.

Nalcorp and Clipper Equity acquired a 69,530-square-foot land parcel at 2015 Boardwalk West in Coney Island, Brooklyn, New York, for $20 million. The site, currently a parking lot, is planned for a 23-story, 202-unit mixed-use development. This transaction is part of ongoing waterfront growth and redevelopment in Coney Island, with previous ownership changes and subdivision of the larger parcel. Nalcorp is also active in the Bronx with industrial sites slated for residential development under a tax incentive program.

A survey by Berkadia reveals a generally negative outlook for the multifamily market in the second half of 2026, with many investors noting softer-than-expected property performance and persistent interest rate volatility. Despite this, confidence in multifamily as an asset class remains strong, with most investors planning to expand portfolios and expecting market improvements by late 2027. Investors are focusing on core and core-plus strategies, scrutinizing rent growth and exit cap rates more closely. The Midwest stands out as a preferred region due to its stronger rental growth and durable cash flow prospects compared to the Southeast and Mid-Atlantic.

Fortress Investment Group provided a $263 million loan to refinance the St. Regis Bal Harbour Resort in Bal Harbour, Florida, rescuing it from special servicing. The loan refinanced existing debt and added new financing for the 213-room oceanfront hotel, which includes a condo component. The resort had faced financial challenges and legal disputes with condo owners, which were settled in 2025. The refinancing reflects efforts to stabilize the property amid reduced cash flow compared to previous years.

First Pioneer Properties and ABS Partners Real Estate acquired a retail center in Queens, New York, for $23.5 million. The property currently houses an urgent care medical office and a baby store, with significant buildable air rights. Queens has seen multiple recent multifamily and mixed-use housing developments, including large construction loans for new projects. Other retail and multifamily properties in Queens have also recently changed hands, indicating active real estate development in the area.

Pinnacle Group sold a $128 million portfolio of residential and retail condominiums in New York City, covering nearly 750 residential units, retail condominiums, and parking lots across Queens, Brooklyn, and Manhattan. The buyer, linked to London-based William Pears Group, acquired the assets through multiple transactions. The sale proceeds will help Pinnacle pay down significant debt following a prior bankruptcy involving rent-stabilized apartments. The portfolio includes notable sales in Queens' Flushing neighborhood, with residential, commercial, and parking assets sold to related entities.

PACE Loan Group (PLG), a Minneapolis-based lender specializing in commercial property assessed clean energy (C-PACE) financing, has appointed Kenneth Sacco as its new chief financial officer to support its growth in the C-PACE market. Sacco brings extensive commercial real estate and capital markets experience, having worked in investment banking, corporate finance, and financial advisory roles. PLG recently closed a $45.5 million loan in New Jersey and has expanded its presence with offices in Texas, Illinois, New York, and California, leveraging its in-house operating model and financial backing to strengthen its competitive position.

Skanska and Stacy Witbeck have been awarded a $2.43 billion contract by the Los Angeles County Metropolitan Transportation Authority to build the East San Fernando Valley Light Rail Transit Project in California. The project includes 6.7 miles of street-level light rail, 11 stations, utility improvements, and a 26-acre rail and maintenance facility, with completion expected by December 2031. This contract is part of a larger $3.57 billion public transit investment funded by federal grants and local sources, aiming to enhance transit connectivity in the San Fernando Valley area of Los Angeles.

Miami-based Aconcagua Group secured $35 million in construction financing from S3 Capital to complete the third phase of the Casa Princeton multifamily apartment community in Miami-Dade County, Florida. The final phase will add an eight-story building with 162 units to the existing 374-unit development, which offers one and two-bedroom apartments and various amenities. The project addresses the attainable housing gap in Florida and benefits from public-private partnership programs to increase housing supply.