GPARENCY News: Your hub for commercial real estate updates. Stay informed with curated headlines, and summaries crafted by ChatGPT. Stay ahead of the industry.
Eaton fire cleanup 99% complete as Altadena residents seek rebuild options
about 9 hours ago
Cleanup efforts for the Eaton fire are 99 percent complete, with 5,527 properties cleared and 5,471 having their rights-of-entry returned for rebuilding, while Southern California Edison offers compensation and the National Organization of Minority Architects provides free reconstruction design plans in Pacific Palisades.
Robot room service, drone delivery coming to $2.5B Mansfield district
about 10 hours ago
House of Tangram is developing two high-tech hotels, Carbon Mansfield and Cache Legitimate & Kubo, within the $2.5 billion Staybolt Street District in Mansfield, featuring futuristic amenities such as biometric check-in, adaptive climate systems, robotic bartenders, drone delivery, and immersive media walls.
Who is Jason Friedman? Meet the real estate scion running for Congress
about 10 hours ago
Real estate scion Jason Friedman is the top fundraiser in a crowded race to replace U.S. Rep. Danny Davis in Illinois’ 7th Congressional District, focusing on political experience rather than his real estate background.
Company linked to Canadian billionaire adds to waterfront Allison Island compound
about 10 hours ago
The family office of Canadian billionaire Lino Saputo purchased a waterfront property on Allison Island for $16.5 million, adding to their existing holdings in the area.
Power handoff in play as Danny Davis exits Congress
about 11 hours ago
Rep. Danny Davis will not seek reelection in 2026 after nearly three decades, endorsing state Rep. La Shawn Ford to succeed him in what promises to be a competitive race with at least eight challengers.
Category Five buys Sunrise multifamily portfolio for $32M
about 11 hours ago
Category Five Real Estate purchased a portfolio of four apartment properties in Sunrise, Broward County, for $32.3 million, with plans to renovate and capitalize on strong rental demand in the area.
IDC Logistics leases 1.1M sf in LA County, Inland Empire
about 12 hours ago
IDC Logistics signed two new leases totaling 1.1 million square feet in San Bernardino and City of Industry for warehousing and manufacturing purposes, creating local production jobs for consumer electronics manufacturing.
IDC Logistics leases 1.1M sf in LA County, Inland Empire
about 12 hours ago
IDC Logistics signed two large leases in San Bernardino and City of Industry for warehousing and manufacturing, creating local jobs and expanding their footprint in the Inland Empire industrial market.
Texas is implementing a mandatory real estate course for initial licensure and renewal, outlawing subagency and requiring agents to obtain written agreements with prospective buyers.
Kilroy tweaks Flower Mart plans to get shovels in grounds sooner
about 13 hours ago
Kilroy Realty is rethinking its plans for the Flower Mart project in San Francisco, considering a broader mix of uses and potentially a phased development approach, as the city faces a high office vacancy rate and new legislation allowing for more residential space in developments.
DWS’ Todd Henderson on shedding offices, investing in multifamily and single-family rentals
about 13 hours ago
DWS Group and Rreef are divesting from the office sector nationwide, focusing on residential properties in response to increasing capital intensity and lower risk-adjusted returns in the office market.
Econic Partners, a consultancy firm backed by Goldman Sachs Alternatives, signed a lease in Chicago's downtown office market, a positive development amidst low demand and high vacancy.
India regulator considers loosening REIT investor rules to attract foreign capital
about 13 hours ago
India is considering allowing foreign investors to invest in real estate investment trusts and infrastructure investment trusts to increase capital inflows, following in the footsteps of Saudi Arabia.
JLL REIT Buys Puma Distribution Center in Arizona for $140M
about 13 hours ago
JLL Income Property Trust acquires a 1 million-square-foot industrial warehouse in Glendale, Arizona for $140 million, fully leased by Puma, with a loan from Thrivent Financial and plans for further investment in industrial facilities.
U.S. construction spending drops amid economic uncertainty
about 14 hours ago
The U.S. construction industry experienced a slowdown in June, with overall spending decreasing and public projects outperforming private work amidst economic challenges like tariffs and high inflation.
Miami-Dade Approves 4,000-Unit, $880M Project in Little River Area
about 14 hours ago
Miami-Dade County officials have approved the $880 million HueHub residential development in Little River, featuring 4,032 units, affordable housing options, and seven 35-story towers.
Slate, Stream’s Comerica Tower conversion plan criticized
about 14 hours ago
Slate Asset Management and Stream Realty Partners plan to develop Dallas' 60-story Comerica Bank Tower into a mixed-use complex, facing controversy over the replacement of the tower's banking hall with a parking garage podium.
Arbor Realty Trust reported a significant drop in net income for the second quarter of 2025 but announced improvements to its balance sheet, including a capital raise and strong loan origination numbers in July, with optimism for the rest of the year.
Manhattan Office Leasing Shows Strength and Resilience for July
about 15 hours ago
Manhattan's office leasing activity in July showed strong signs of recovery with an increase in monthly leasing activity and potential for record-breaking volume in 2025.
A $100 million tenant-owned affordable housing project in Washington, D.C. receives significant financing to develop 108 apartments in Columbia Heights neighborhood, with units priced for low-income earners.
Corten Real Estate Partners buys The Line Hotel in Koreatown for $68 million, the largest hotel sale in Los Angeles this year, amid struggles for hotel owners to sell properties in the area.
Goltz sells entitled People’s Gas redevelopment after rezoning fight
about 15 hours ago
Prairie Ridge Development acquires the former People's Gas site in Chicago's Portage Park from GW Properties, scaling back plans for a mixed-use project with 253 units and maintaining retail and affordable housing components.
Sapir’s Nomo Soho hotel on brink as bondholders eye payback
about 15 hours ago
Alex Sapir's Sapir Corporation missed a $3 million payment to Israeli bondholders for the Nomo Soho hotel, putting a deal to extend $34 million in debt in jeopardy.
Adams vs. Adams: Attacks on mayor’s housing policy fall flat
about 15 hours ago
City Council Speaker Adrienne Adams criticizes Mayor Eric Adams for not using land-use veto for housing, while ignoring the role of member deference in killing affordable housing projects.
Ashkenazy Acquires Queens’ Shops at Atlas Park for $72M
about 15 hours ago
Ashkenazy Acquisition Corporation has acquired The Shops at Atlas Park in Glendale, Queens for $72 million, with plans to enhance and upgrade the property into a best-in-class lifestyle center.
Ares Notches 24 Percent Growth in Assets Under Management
about 16 hours ago
Ares Management's strong portfolio growth in first half of 2025 fueled by acquisition of data center operator GCP International and successful fundraising efforts.
Paramount Group’s Uneven Q2 Has a Bright Spot: Leasing
about 16 hours ago
Paramount Group experienced a significant increase in leasing activity in the second quarter of 2025, with the highest volume since the pandemic, despite overall anemic financials.
Postman opens 32K sf offices in SF Financial District in latest AI-driven expansion
about 16 hours ago
Postman opens new headquarters in San Francisco's Financial District, expanding office space and doubling headcount to focus on AI, contributing to optimism in the city's office market.
Fannie Mae seeks $4M foreclosure against North Miami apartment building owner
about 17 hours ago
Fannie Mae filed a $4 million foreclosure complaint against Salem House Holding and its manager for defaulting on a mortgage for a North Miami apartment building, part of a larger investigation into mortgage fraud involving multifamily borrowers.
Ellis Partners looks to turn Oakland Red Cross building into senior housing
about 17 hours ago
Ellis Partners plans to convert a former American Red Cross building in Oakland into a senior housing facility with amenities such as a theater and fitness center, in collaboration with Spirit Living Group.
Spanish developer scores final approval for 4K-unit Live Local Act project –– South Florida’s biggest
about 19 hours ago
Pablo Castro and Laura Tauber gained approval for The HueHub, a 4,032-unit Live Local Act project in West Little River, making it South Florida's largest development with affordable housing.
Ex-Flagstar CEO accused of permitting money laundering
about 19 hours ago
Former Flagstar Financial chief compliance officer Ross Marrazzo is suing the bank under the Sarbanes-Oxley Act, alleging he was terminated for investigating potential money laundering and insider trading by the bank's former president.
Plano office market logs another win with lease at KBS-owned property
about 19 hours ago
Brown & Brown signed a lease for 41,000 square feet at Legacy Town Center in Plano, contributing to the strength of the suburban office market in the area.
Spelling Manor closes for $110M in tie for LA’s richest resi deal
about 20 hours ago
Spelling Manor was sold for $110 million, tying for the priciest Los Angeles County deal of the year, in a transaction managed by Carolwood Estates agents Drew Fenton and Linda May.
The Daily Dirt: Should NYC punish or legalize SROs?
about 20 hours ago
The Department of Buildings is cracking down on illegal single-room occupancy conversions in Brooklyn, highlighting the need for legal SROs as an affordable housing option.
REBNY takes another stab at halting FARE Act, takes case to Second Circuit
1 day ago
REBNY is appealing to suspend New York City's FARE Act, arguing that it causes harm to brokers and landlords, while the city maintains that the law does not violate the First Amendment.
Tom Cousins, builder of Atlanta’s modern skyline, has died
1 day ago
Tom Cousins, the founder of Cousins Properties and Atlanta Hawks, passed away at 93, leaving behind a legacy of shaping Atlanta's skyline and championing mixed-income housing revitalization.
Tom Cousins, builder of Atlanta’s modern skyline, has died
1 day ago
Tom Cousins, a prominent developer and philanthropist who founded the Atlanta Hawks, dies at 93 after shaping Atlanta's skyline with iconic projects like 191 Peachtree and NationsBank Plaza.
Douglas Elliman experienced increased losses in Q2, launching new initiatives while facing challenges in the housing market influenced by mortgage rates and tariff policies.
Newly minted AI billionaire Daniel Nadler drops $38M on Surf Club Four Seasons PH
1 day ago
AI founder Daniel Nadler purchased a $38.2 million penthouse at Four Seasons Residences at the Surf Club, setting a record at $6,731 per square foot, opting for hotel-like amenities and luxury living.
State law bypassing local zoning gums up affordable housing plan
1 day ago
Texas law SB 840 could potentially undermine Austin's affordable housing strategy by allowing residential developers to build mixed-use projects without city rezoning approval.
Federal Reserve officials kept interest rates steady, disappointing investors in public real estate investment trusts amid earnings reports and uncertainty over potential tariffs, leading to a decline in the FTSE Nareit All REITs index.
Pacific Life tests hot multifamily market with West Loop listing
1 day ago
Pacific Life Insurance and White Oak Realty Partners are selling the Milieu, a 275-unit apartment tower in Chicago's West Loop, part of a trend of large multifamily properties coming to market in the area.
Mesa West Capital Provides $57M Refi for Florida Community
1 day ago
Cross Lake Partners, GreenPointe Holdings, and Rivers Residential secure $56.6 million loan to refinance Easton Riverview multifamily community in South Hillsborough County, Fla., with Mesa West Capital providing the loan.
No bailout for B.C. builders as foreign cash stays banned
1 day ago
British Columbia refuses to reopen housing market to foreign capital, despite developers' pleas, blaming restrictions for slowing presales and new housing starts.
Denver industrial site poised for 1.3M sf mixed-use redevelopment
1 day ago
Byron Weiss and his sons, in partnership with OliverBuchanan Group, seek to transform historic Denver Rock Drill site into a mixed-use development, including housing, office, retail, and a hotel.
Marius Fortelni lands $60M loan for Jupiter townhouse project
1 day ago
Marius Fortelni's Forté Development secures a $60 million construction loan for the 17-unit Forté Luxe townhouse project in Jupiter, with prices starting at $4 million.