Here are ten of our most popular commercial real estate posts for the month.
U.S. commercial property prices held a steady pace of growth in July, shored up by industrial sector price gains, according to Real Capital Analytics CPPI (Commercial Property Price Indices) report.
Paramount Group, Inc. has completed the acquisition of a 44% joint venture interest in 55 Second Street. Located in San Francisco’s South Financial District, the property was valued at approximately $402.0 million, or $1,039 per square foot.
During August, EM stocks and bonds suffered the worst outflows since November-2016.
Steadfast Apartment REIT, Inc. (“STAR”), Steadfast Income REIT, Inc. (“SIR”) and Steadfast Apartment REIT III, Inc. (“STAR III”) have entered into definitive merger agreements pursuant to which STAR would acquire SIR and STAR III in separate stock-for-stock, tax-free transactions, creating a combined company with approximately $3.3 billion in gross real estate assets.
Harrison Street, an alternative real asset investment firm that buys and sells education, health-care and storage properties, announced the final close of the firm’s seventh U.S. opportunistic real estate fund, Harrison Street Real Estate Partners VII, L.P. (“Fund VII”) at the fund’s hard cap of $1.3 billion, exceeding its original $950 million target.
The UK’s average all-sector commercial property prime yield has reached 4.90%, its highest level since November 2016.
GIC, Singapore’s sovereign wealth fund, with US$100 billion in assets under management, will acquire a 25.1% stake in Lendlease International Towers Sydney Trust (LLITST) from Canada Pension Plan Investment Board and Lendlease.
Australian commercial property market sentiment rose 9 points to +7 in the second quarter of 2019. It rose in all states and was highest in VIC & NSW.
Australian telco Telstra Corp has sold a 49% stake in a newly established property trust to a consortium led by Charter Hall Long Wale REIT for A$700 million ($474 million).
Ares Management Corporation announced the final closing of Ares European Real Estate Fund V SCSp, at €1.78 billion.
SEE ALSO : CRE Herald’s top 10 posts in July