Epic Insurance is expanding its office space in Midtown Manhattan, New York City, growing to approximately 25,500 square feet at 1140 Avenue of the Americas. The building, owned by American Strategic Investment Company, was purchased in 2016 for $180 million. The expansion highlights the building's appeal to high-quality tenants seeking efficient office space in Midtown. Details on lease length and rent were not disclosed.

Brookfield Asset Management is acquiring Peakstone Realty Trust, an industrial real estate investment trust based in El Segundo, California, in a $1.2 billion all-cash deal. The acquisition will expand Brookfield's industrial real estate portfolio, which includes traditional industrial properties and industrial outdoor storage (IOS) sites. The deal is expected to close by the end of the second quarter, pending shareholder approval, and includes a 30-day go-shop period for Peakstone to consider other offers.

A French manor-style estate in Hunters Creek Village, Houston, sold for over $10 million, making it the priciest home sale in the region for the week of February 8. The 9,766-square-foot mansion features luxury amenities including a pool, tennis court, and ornate interiors. Despite this high-end sale, the broader Houston housing market has cooled, with declines in new listings, pending sales, and closings year-over-year. Single-family home sales in Houston also saw a slight decrease in January, although luxury home sales above $1 million increased significantly.

Crow Holdings Capital acquired The Overlook at Oak Brook, a 54,000-square-foot retail shopping center in suburban Chicago, Illinois, for $44 million in an all-cash deal. The property, anchored by Amazon Fresh and other national tenants, was nearly fully leased with long-term leases, though some tenant challenges have emerged. This purchase follows Crow Holdings' recent retail acquisition in Wheaton, Illinois, and a large refinancing of its retail portfolio. The seller, MetLife Investment Management, realized a modest gain on the property after holding it for just over two years.

Related California's planned development of approximately 100 single-family homes, townhomes, and condos on a six-acre site in San Francisco's Presidio Terrace has been disrupted by the city's new Family Zoning plan, which increased density requirements to about 300 units. The rezoning, aimed at meeting state housing targets, doubled allowable building height and mandated a minimum of 50 units per acre, causing Related to lose its purchase agreement and put the property back on the market. City officials are working with developers to find feasible projects under the new rules, though concerns remain about the impact of taxes, fees, and zoning flexibility on housing projects.

Hines sold a prime mixed-use building at 80 New Bond Street in central London for approximately $263 million to Allwyn Entertainments, a U.K. National Lottery operator. The property includes retail space anchored by Abercrombie & Fitch and office space leased to various corporate tenants. This transaction reflects strong investor demand for trophy assets in London's core retail and office corridors, with central London commercial volumes rebounding significantly after a period of uncertainty.

Senior lenders Goldman Sachs, Deutsche Bank, and a trustee for CMBS bondholders have filed a foreclosure lawsuit against SL Green and RXR over a $940 million senior debt default on Worldwide Plaza, a 1.8 million-square-foot office tower in New York. The lenders seek a court-appointed receiver and authorization for a foreclosure sale. This legal action follows previous disputes including a rejected attempt by the owners to block a UCC foreclosure sale by mezzanine lender Extell Development. The property is about 40% vacant after significant tenant departures, and the lenders accelerated the debt in January after defaults on both senior and mezzanine loans. SL Green maintains it has a revitalization plan despite attributing little value to the asset.

The article discusses Compass' strategy of accumulating off-market luxury home listings, particularly in Texas, where private deals are common due to permissive disclosure laws and high property taxes. Despite criticism of Compass for stockpiling inventory, the Texas luxury market features multiple cooperative off-market networks beyond Compass, such as Clubhouse and the Austin Luxury Network. These networks facilitate private transactions among various brokerages, emphasizing the importance of broad exposure for sellers. Texas' unique market dynamics and multiple off-market platforms make Compass a significant but not dominant player in the state's luxury real estate off-market scene.

Rosendin Electric, the largest employee-owned electrical contractor in the U.S., has leased over 300,000 square feet of industrial space in Virginia near Washington, D.C., and Richmond, expanding its East Coast operations. The company signed major leases at the Lakeridge Logistics Center in Ashland and the Northwoods business park in Sterling. Additionally, significant industrial real estate transactions occurred in Northern Virginia and Maryland, highlighting Virginia's role as a traditional industrial hub alongside its growing data center market.

The article discusses the ongoing development and expansion of soundstage and studio spaces in Los Angeles amid shifting production trends. Despite a drop in occupancy rates from 90% to the low 60% range, new projects like East End Studios' Mission Campus, Cinespace Los Angeles, and Echelon Studios Hollywood are progressing, with significant investments aimed at creating comprehensive filming facilities. Older studios are also upgrading to remain competitive, while some properties like Radford Studio Center face financial challenges. Overall, Los Angeles remains the leading U.S. city for soundstage inventory and production activity.

Kushner Companies, led by Laurent Morali, received approval from the New Jersey Casino Reinvestment Development Authority to develop a 180-unit multifamily project at Caspian Point in Atlantic City, New Jersey, on a long-vacant waterfront site. The project, near the Atlantic City Aquarium and boardwalk, has faced local concerns about traffic and scale, and benefits from a 30-year tax break approved by the city council. Kushner also secured approval for a 470-unit multifamily development and synagogue in Hollywood, Florida, near the Seminole Hard Rock Hotel & Casino, including plans to convert a historic house into a library.

Wildflower sold a Queens warehouse property to Terreno Realty for $92 million, a significant increase from its $35 million purchase price a year earlier. The 245,000-square-foot former New York Times distribution center is being redeveloped into an e-commerce logistics center. Wildflower has a history of selling industrial properties at large premiums, including a self-storage facility in the Bronx. Terreno also recently sold an industrial property in New Jersey for $144 million. Additionally, Blackstone sold a fully leased warehouse near LaGuardia Airport in Queens for $86.7 million.

GreenPoint Partners, through its Outpost platform specializing in transportation infrastructure, secured $115 million to acquire a six-property industrial portfolio spanning California, Florida, Oregon, Nevada, and New Jersey. The financing was provided by Realterm, which also extended a $300 million credit facility for current and future acquisitions. The portfolio covers 75 acres and over 158,000 square feet, reflecting strong demand in industrial and logistics real estate sectors.

The article discusses California gubernatorial candidate Tom Steyer's support for a referendum to reform Proposition 13 by reassessing commercial properties to increase tax revenue, particularly targeting industrial and retail properties, while leaving residential properties untouched. The proposal aims to offset healthcare funding cuts but faces opposition from other candidates and groups who argue for government efficiency and housing supply increases instead. Previous attempts to reform Prop 13 narrowly failed, highlighting the ongoing debate over property tax policy in California.

A prewar walk-up apartment building at 280 Mulberry Street in Manhattan's SoHo neighborhood sold for $23.4 million. The buyer, JP Real Estate Group Limited, appears to be acquiring multiple residential and mixed-use properties in New York City, including several other walk-up residential buildings and properties with retail space. The transactions indicate an active acquisition strategy in Manhattan's residential real estate market.

Two waterfront homes in Miami Beach and Golden Beach, Florida, each asking $39 million, are among the priciest contracts signed recently in Miami-Dade County. The report tracks luxury homes and condos priced $4 million and up, with 27 contracts signed totaling $285.7 million in asking price for 15 single-family homes and 12 condos. The single-family homes averaged $14.6 million and 175 days on market, while condos averaged $5.6 million and 167 days on market. Additionally, New York saw 23 home contracts signed with a combined asking price of $291.3 million.

Razny Jewelers has purchased a three-story retail building at 109 East Oak Street in Chicago's Gold Coast to expand its flagship store, which it has leased since 2016. The acquisition complements its neighboring property at 107 East Oak Street, which it plans to demolish and replace with a new four-story building connected to 109 East Oak. The expanded store will include a bridal showroom, a two-story Rolex boutique, and an event space, reflecting a trend among luxury retailers in the area. This move strengthens Razny's presence on Oak Street and supports its growth ambitions in the Chicagoland area.

The Arizona Cardinals have broken ground on a new mixed-use training facility in north Phoenix, Arizona, set to open in 2028. The 217-acre site at Paradise Ridge will include 30 acres dedicated to training facilities with 250,000 square feet of mixed-use space, featuring football training fields, offices, dining, retail, and residential areas. This new facility is a significant upgrade from their current 14-acre site in Tempe and aims to address player concerns about the size and amenities of the existing training center.

Bank-reported multifamily credit stress has reached its highest level since the Global Financial Crisis, with delinquency rates rising sharply to 1.37% in Q3 2025 and accelerating losses totaling $911 million. Serious delinquencies, particularly loans 90 days or more past due, now represent a significant portion of the multifamily loan balance, signaling growing financial strain. The rapid increase in losses is driven by higher floating-rate exposure, cap-rate expansion, and declining property values, with resolution strategies expected to shape credit outcomes in the near term. Despite risks, distressed multifamily properties present investment opportunities, especially those with overleveraged debt from the low-interest period of 2021-2022.

TruAmerica Multifamily has closed a $708 million Workforce Housing Fund II focused on acquiring and renovating Class B multifamily properties in major U.S. metropolitan areas to provide affordable rental housing without government subsidies. The fund has already invested about $320 million in 14 multifamily properties with 3,334 units, particularly in the Boston area, and targets garden-style apartments in high-growth markets such as Tampa, Salt Lake City, and Seattle. The strategy emphasizes value-add renovations to offer fair rents while meeting housing needs for households earning 60 to 100 percent of the median income.

Veris Residential, a Jersey City-based multifamily landlord, agreed to be acquired by an investor consortium led by Affinius Capital and Vista Hill Partners in a $3.4 billion all-cash deal. The transaction marks the end of Veris' shift from office to a Class A multifamily platform focused in the Northeast. The deal, expected to close in the second quarter pending approvals, will result in Veris being delisted from the New York Stock Exchange. The acquisition follows activist investor pressure and a previously failed takeover bid from Kushner Companies.

Sponsor sales of newly built condominiums in New York City stabilized at $8.3 billion in 2025, marking a 1.6% decline from the previous year and continuing a cooling trend after a post-pandemic boom. The decline follows a record 2022, driven by high-profile projects like Central Park Tower and 111 West 57th Street. Despite strong demand for luxury condos, new project supply remains limited, with a shift of developments from Manhattan to outer boroughs such as Brooklyn. The Bergen in Boerum Hill led in number of sales, while Central Park Tower maintained the highest average deal size.

The article discusses high-end real estate transactions in Manhattan, New York, highlighting a pending $89.5 million sale of a penthouse at 1122 Madison Avenue, one of the most expensive deals this year. The luxury condo project has sold 18 of 26 units since mid-January, with completion expected in 2027. Additionally, a six-story townhouse in Greenwich Village listed at $21.5 million is noted for its historical significance and spacious features. Overall, 23 properties, mostly condos, co-ops, and townhouses, found buyers with a combined asking price of $291 million.

The Trump Organization is expanding internationally with plans to build a 91-story mixed-use tower combining a hotel and luxury apartments in Australia, marking its first project there. Additionally, the company is developing multiple projects in the Gulf region, including a $1 billion Trump Plaza in Jeddah featuring offices, luxury apartments, and townhouses, as well as licensing deals for hotels, golf courses, and skyscrapers in Dubai, Oman, Qatar, and Riyadh. These developments highlight the organization's focus on luxury residential, hotel, and office properties abroad.

The Financial District in Manhattan is increasingly known for converting office buildings into residential spaces. Brooklyn-based Twin Group Associates has filed plans to transform a six-story office and retail building at 16 Beaver Street into an 11-story, 50-unit apartment complex without luxury amenities but including a residents' lobby and bicycle parking. This project is part of a broader trend of office-to-residential conversions in the area, which is evolving into a 24-hour live, work, and play neighborhood with several similar developments planned.

A joint venture of Arker Companies, L+M Development Partners, and LIHC Investment Group acquired the 1,103-unit Park Hill Apartments complex in Staten Island, New York, for $364.7 million. The federally subsidized complex, previously owned by Delshah Capital, has faced numerous tenant complaints but will undergo renovations funded by city and state resources. Additionally, L+M Development secured $278 million for the first phase of the Arverne East affordable housing project in Queens, New York, and Delshah sold a distressed Meatpacking District building in Manhattan.

Teresa King Kinney, CEO of the Miami Association of Realtors, is retiring after 33 years, having led significant growth and overseen a new headquarters. Leadership changes include Jack Glottman stepping down as CEO of Saglo Companies in Miami, with Hue Chen taking over. Savills appointed Tom Viscount to expand industrial services in Florida, focusing on Miami-Dade, Broward, and Palm Beach counties. Brown Harris Stevens added new agents to its Miami offices, and Weiss Law hired Mark Grafton as partner and chair of its land use practice group, advising on land use and zoning.

The article discusses conflicts of interest in large full-service commercial real estate brokerage firms, where multiple revenue streams from a single transaction can lead to brokers favoring buyers who provide future business rather than those offering the highest price. It advocates for specialized brokerage firms that focus solely on property sales to ensure alignment with sellers' interests, using BK Real Estate Advisors in New York City as an example of such a conflict-free model.

A luxury 60-unit multifamily apartment complex called Luxe Villas in the Brentwood area of Los Angeles, California, was sold for $49.4 million to TruAmerica Multifamily. The property, built in 2006 and renovated in 2022, was brokered and financed by Institutional Property Advisors. The sale highlights the demand for high-quality multifamily communities in prime locations with strong local market fundamentals.

Billionaire Ken Griffin plans to develop a 1.9 million-square-foot trophy office tower at 350 Park Avenue in Midtown East, New York City, signaling confidence in the office market's recovery despite pandemic challenges. The project, designed by Norman Foster, aims to attract large corporate tenants seeking premium space amid a bifurcated market where top-tier offices see strong demand while lower-tier spaces face vacancies. The $6 billion development involves a joint venture with Vornado Realty Trust and Rudin, with Griffin's firms as anchor tenants. The office market in Manhattan, particularly Midtown East and Park Avenue, shows tightening availability and reduced sublease inventory, indicating a strengthening prime market. However, risks remain from financing, construction costs, and market fluctuations.

Multifamily lending is experiencing significant stress, with delinquency rates rising sharply to 1.37% by the third quarter of 2025, the highest since the post-Global Financial Crisis recovery. Serious delinquencies now dominate, and realized losses are accelerating rapidly, signaling a faster credit cycle deterioration compared to past crises. This trend highlights the need for proactive asset management by lenders and disciplined underwriting by investors, as distressed inventory grows and resolution strategies become critical over the next 12 to 24 months. Despite these challenges, fundamental demand drivers for multifamily remain intact.

Vanbarton Group, led by Richard A.C. Coles, is actively converting office buildings into luxury residential apartments in New York City, leveraging new tax incentives such as 467M and 485x. Despite political uncertainties following the election of Mayor Zohran Mamdani, who supports tenant-friendly policies, Vanbarton continues its development projects including a major residential site in Nomad. The firm anticipates more residential conversions in the Financial District and Midtown, while highlighting the need for incentives to revitalize obsolete buildings in the Garment District.

The article highlights significant real estate transactions in Florida, including a $11.2 million sale of a single-family home in Tequesta, a $81.1 million sale of five senior living properties in Palm Beach County, and an $11 million sale of an industrial property in Opa-locka. It also notes a $7.8 million waterfront home sale in Delray Beach. Additionally, it discusses the looming $77 billion hard maturity wall for commercial mortgage-backed securities loans due in 2026, indicating potential financial distress for borrowers.

The Midtown Manhattan office market is experiencing a strong flight to quality, with availability rates in top-tier buildings dropping below 3.7%, a significant decline from pre-pandemic levels. Leasing activity and net absorption reached multi-year highs in 2025, driving modest rent growth, especially in trophy Class A properties in submarkets like Penn Plaza and the Plaza District. Major tenants in finance, legal, and tech sectors are expanding or relocating to newer, high-quality office spaces, often committing years in advance due to limited supply. While rents in Class A buildings rise, Class B spaces remain more affordable but less desirable. New office developments are underway, but the tight market is expected to persist, encouraging tenants to renew or build in place rather than relocate. Overall, Midtown's office sector shows strong recovery and demand, with a bifurcation between premium and commodity office spaces.

Michael Trachtenberg has joined Safehold as president to lead the publicly traded REIT specializing in ground leases, a novel financial product that offers predictable, long-term cash flows. Safehold has grown its portfolio significantly since going public in 2017 but faced stock value declines due to rising interest rates. Trachtenberg aims to expand Safehold's offerings across multiple asset classes, with a current focus on affordable housing primarily in California. The company emphasizes education about modern ground leases and plans to innovate its product suite while maintaining strong credit ratings and access to capital markets.

New York City is advancing a fast-track land use approval process for a new eight-story multifamily building with over 80 affordable rental units, including 30 reserved for homeless residents, at 351 Powers Ave. in the Bronx. The project replaces a parking lot and includes community facility space for a theater and workforce training center. This expedited process aims to speed up housing development, with the city council required to vote within 90 days. The initiative is part of broader efforts to create more housing quickly, with plans to identify city-owned sites for at least 25,000 new homes.

The article discusses the increasing capital requirements and financing challenges faced by data center developers in the U.S., particularly in the early stages of land acquisition and power infrastructure development. Traditional lenders are hesitant to provide predevelopment capital without secured tenants, leading developers to adopt innovative financing strategies such as capital recycling, securitized debt, private debt funds, sale-leaseback arrangements, and venture capital approaches to bridge the funding gap. Rising land and power costs, along with utility requirements for upfront payments, have intensified the need for creative liquidity solutions to support the rapid growth driven by artificial intelligence and Big Tech demand.

Ownwell, a proptech startup founded by Colton Pace, has raised $50 million in Series B funding to expand its property tax appeal services nationally, including new markets like Colorado, Pennsylvania, and Michigan. The company uses proprietary AI and data from over a million appeals to help homeowners and small to medium businesses, including those owning various property types, reduce property tax bills and manage related expenses. Ownwell aims to democratize access to real estate tax expertise and is expanding its offerings to include insurance, mortgage, and utility bill management.

Palantir Technologies announced its move to Miami, leasing space at a co-working facility in Aventura, Florida, amid a broader trend of tech and wealthy individuals relocating to the state. The Miami real estate market is seeing strong demand for ultra high-end single-family homes and some interest in condos, though lower price points remain less affected. Significant residential transactions include high-value waterfront estates in Palm Beach and Coconut Grove. Additionally, Welltower sold five senior housing properties in Palm Beach County. Florida lawmakers are also considering property tax reforms and renaming Palm Beach International Airport after Donald Trump, while the Trump Presidential Library Foundation acquired land in downtown Miami.

The article discusses the ongoing and upcoming negotiations involving Hollywood unions and their potential impact on the Los Angeles real estate market, particularly in luxury residential sectors affected by previous strikes. It highlights the influence of proposed taxes like California's mansion tax and the potential 2026 Billionaire Tax Act on market dynamics, prompting some high-net-worth individuals to relocate to states like Florida. Additionally, factors such as rising insurance costs, crime, and post-fire conditions are affecting the local market, while other markets like New York and Miami show stronger activity. Political developments in Los Angeles, including mayoral races and endorsements, are also noted in relation to these economic and social changes.

The article covers the ongoing trial of the Alexander brothers, who face multiple charges including sex trafficking and rape allegations spanning from 2008 to 2021 in locations such as New York, Aspen, and Tulum. The defense argues that the encounters were consensual and challenges the prosecution's evidence, which includes victim testimonies, photos, videos, and text messages. The trial highlights issues of memory, consent, and the credibility of witnesses, with prosecutors presenting a broad conspiracy case while the defense seeks to differentiate each brother's involvement. The case involves complex legal strategies and emotional testimonies, with potential life sentences if convicted.

The article discusses several real estate developments and transactions in Texas, including Don Huffines' purchase of the infamous Zorro Ranch near Santa Fe, New Mexico, which he plans to convert into a Christian retreat. It also covers Majestic Realty's withdrawal from a deal to sell a Dallas-area warehouse to ICE for a detention facility, the financial troubles of Harwood International involving condo units at Bleu Ciel in Dallas, and Crescent Real Estate's $600 million refinancing of The Crescent, a mixed-use property in Fort Worth. These events highlight ongoing commercial real estate activity and controversies in Texas.

The article discusses recent developments in New York City's commercial real estate landscape under Mayor Zohran Mamdani, including rent freeze plans and a proposed 9.5% property tax hike, which have sparked industry and public backlash. It highlights strong leasing activity in Lower Manhattan's office market and ongoing conversions of office space to apartments. The piece also covers positive earnings reports from major real estate firms like JLL and Cushman & Wakefield amid AI-related concerns. Additionally, it notes significant multifamily development financing in South Florida and corporate relocations to Miami, reflecting robust activity in both New York and Florida markets.

The article explores Jeffrey Epstein's use of real estate, including condos, clubs, ranches, and a Manhattan townhouse, as social currency to gain influence and connections. It details his financial involvement in various underperforming projects and exclusive memberships, as well as the aftermath of his properties like the Zorro Ranch in New Mexico. The piece also covers broader real estate news such as rising CMBS delinquencies, ICE's acquisition of industrial warehouses, rent control efforts in New York, and notable property transactions and foreclosures in states like Texas, Florida, and California.

The article discusses a proposed billionaires tax in California that could impact the state's real estate market, particularly at the high end, and potentially influence business decisions and housing demand. It highlights the political debate surrounding the tax, opposition from key figures, and efforts by groups like Building a Better California to counter it. Additionally, the article reports a decline in condo sales in San Francisco, attributing it to legal challenges and limited development, while also covering the progress of the large Freedom West 2.0 mixed-use development project in San Francisco, which includes apartments, retail space, cultural areas, and a hotel.

Macerich, a retail-focused REIT based in Santa Monica, is actively selling off properties including a mall in Santa Barbara and a shopping center in Lakewood, California, as part of a debt reduction strategy. Other Los Angeles area REITs like Rexford, Kilroy, and Hudson Pacific Properties are also disposing of assets, particularly offices and industrial properties, amid ongoing distress in the office and hotel sectors. Notable transactions include sales of multi-family properties in Brentwood and Culver City, and the transfer of office and hotel properties in West Los Angeles and Hollywood due to loan defaults and foreclosures.

Gencom, a Miami-based investor, acquired the 253-key Ritz-Carlton Central Park South hotel in Manhattan, New York, for about $320 million, expanding its luxury hotel portfolio in prime Manhattan locations. The deal reflects confidence in New York City's luxury hotel market, supported by strong international tourism and limited new supply. Additionally, the article covers various New York City real estate news, including rent board appointments, a high-profile townhouse sale, and legal disputes involving local developers and investors.

The article discusses the challenges faced by New York City in building affordable housing, focusing on the Timbale Terrace project in East Harlem. Despite the mayor's goal to build 200,000 affordable units in 10 years, the project took 10 years to break ground and will cost $750,000 per unit, which is higher than targeted. Issues include slow city processes, reluctance of city agencies to give up land, high costs, and concerns about concentrating poverty in low-income neighborhoods. The article also highlights the difficulty of building affordable housing in wealthier areas due to economic constraints and community resistance.

The article discusses the surge in ultra-luxury rental prices in Manhattan, New York City, highlighting record-breaking leases such as a West Chelsea penthouse rented for $177,500 a month. The market for trophy rentals, defined as the top 1% with rents starting at $25,000 monthly, has seen a significant inventory drop and rising prices driven by high demand and limited supply. Additionally, luxury condo sales remain strong despite a slowdown in new development projects, with notable transactions at 1122 Madison Avenue and 432 Park Avenue. Developers are focusing on boutique projects in prime neighborhoods rather than large supertall buildings.

In New York City, several significant real estate transactions occurred, including a $19.8 million condo sale in Lenox Hill, the $364.7 million acquisition of the Park Hill Apartment complex in Staten Island with plans for a $165 million renovation, and a $15.4 million sale of an industrial building in Long Island City slated for demolition. Additional residential sales included a $8.9 million condo on the Upper West Side and an $8 million townhouse in the West Village. The article also highlights a looming $77 billion commercial mortgage-backed securities maturity wall in 2026, indicating financial stress for borrowers.

New York City Mayor Zohran Mamdani plans to propose property tax reform based on previous reports, aiming to address inequities in the system, particularly for co-ops and condos. The reform effort faces challenges due to the division of authority between the city and New York State lawmakers, with ongoing legal actions highlighting the city's ability to assess properties uniformly. The article also notes recent real estate transactions and development permits in New York City, including high-value condo and co-op sales and a new building permit in Williamsburg.

The Sunny Isles Beach City Commission approved a 62-story, 145-unit condo tower development by Related Group, Dezer Development, and BH Group on the site of the former Miami Beach Club in Florida. Despite resident concerns about safety, structural integrity, and traffic, the project was granted site plan approval and transfer of development rights to allow a larger building. The developers plan to monitor construction impacts and aim for completion by December 2031. The project includes luxury amenities and follows a complex buyout and legal disputes involving neighboring properties.

Kushner Companies, based in New York, acquired the Eastline Residences, a 28-story luxury multifamily apartment tower in Dallas, Texas, near Southern Methodist University. The property, featuring 330 Class A units and amenities like a sky lounge and outdoor pool, was sold by Convexity Properties in one of the largest multifamily trades in North Texas recently. The acquisition expands Kushner's Texas portfolio, where it already controls over 2,300 units. The sale is notable for its size and pricing in a supply-constrained market corridor.

The Florida House of Representatives approved a proposal to eliminate non-school property taxes on primary residences, pending Senate approval and a 60 percent voter approval in the November election. The measure aims to address Florida's affordability crisis by removing property taxes on homesteads, though it faces concerns about significant budget impacts on local government services. The proposal, introduced by Rep. Monique Miller and supported by Gov. Ron DeSantis, would make Florida the first state to scrap property taxes on homesteads if passed.

Amalgamated Bank of Chicago is relocating its headquarters from 30 North LaSalle Street to 101 North Wacker Drive in Chicago, Illinois, as part of the Loop's trend of converting older office buildings into residential spaces. The bank signed a 12-year lease for 40,000 square feet in a 23-story office tower, reflecting a shift toward newer or updated office buildings amid vacancies in older towers. The move aligns with the city's broader effort to replace aging office space with housing, including plans for 349 apartments at the bank's former location.

A legal dispute has erupted within the Ozinga family, owners of a major Chicago-based concrete and real estate business, over control and financial decisions. Brothers Justin and Karl Ozinga sued their brother Marty Ozinga IV, alleging he bypassed family trust rules to push a $50 million acquisition of a rival concrete company, diverting funds and increasing debt without unanimous consent. The conflict highlights financial strains, including cost overruns on a grinding mill project in East Chicago, Indiana, and refinancing challenges. The lawsuit seeks to block the acquisition to protect the family legacy and business operations.

The greater Philadelphia self-storage market is experiencing a supply glut due to significant new construction between 2023 and 2028, which has outpaced demand amid a cooling housing market and economic uncertainty. While occupancy rates have declined from post-pandemic highs, long-term fundamentals remain strong due to structural undersupply and high barriers to entry. Investors face short-term challenges with slower lease-ups and lower revenue growth, but the market is expected to recover as it absorbs the new supply over time.

Infinera, a chipmaker owned by Nokia, purchased an office and research building in south San Jose for $27 million to manufacture optical chips, supporting the growing demand from data centers and AI programs. The building, part of the Valley Oak Technology Center, totals 82,100 square feet and serves as Infinera's headquarters after relocating from Sunnyvale. San Jose is a key area for data center development, with recent proposals for converting office buildings and vacant land into large data center spaces.

Chicago developers Mike Reschke and Theodore Koenig have filed a lawsuit against David Trandel, accusing him of defrauding them in a residential land development deal in Mount Pleasant, Wisconsin. The complaint alleges Trandel misappropriated up to $2 million, formed a separate LLC to purchase the property without their consent, and took out a questionable mortgage without their knowledge. The dispute centers on a 34-acre site intended for residential development and sale to Lennar Corporation. Reschke and Koenig seek the return of the property, their investment, and full accounting records.

The SEC has filed fraud charges against Saumil and Poorvesh Thakkar, brothers from a North Texas real estate family, for allegedly deceiving investors out of over $12 million through false claims about real estate investments, including a rejected offer for Park Plaza Tower in Dallas and misrepresented costs for the Mustang Square mixed-use development in Plano. The complaint also details unauthorized management fees and misleading marketing materials. The Thakkar family is involved in multiple projects and businesses, and Saumil Thakkar faces additional legal issues related to a defaulted loan on a mixed-use development in Allen, Texas.