Commercial property

Ascendant Capital Partners and Culver Investment Partners Acquire Portfolio of Multifamily Properties in Houston’s Fast Growing Texas Medical Center Neighborhood

Retrieved on: 
Monday, April 8, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Sun Belt, Ascendant, Partnership, CIP, Acquisition, Medical Center, Texas Medical Center, Student, Collection, Housing, Elle, Commercial property

Ascendant Capital Partners ("Ascendant"), a vertically integrated real estate investment and operating platform, and Culver Investment Partners ("CIP"), a multifamily investment platform focused on existing core-plus and value-add multifamily communities, today announced the acquisition of the Elle Collection portfolio in the Texas Medical Center area, a populous and growing submarket of Houston, TX, for approximately $60 million.

Key Points: 
  • Ascendant Capital Partners ("Ascendant"), a vertically integrated real estate investment and operating platform, and Culver Investment Partners ("CIP"), a multifamily investment platform focused on existing core-plus and value-add multifamily communities, today announced the acquisition of the Elle Collection portfolio in the Texas Medical Center area, a populous and growing submarket of Houston, TX, for approximately $60 million.
  • The Elle Collection comprises three multifamily assets – Elle at the Medical Center, Vie at the Medical Center, and Plaza Townhomes at the Medical Center – totaling 470 units.
  • The Medical Center is a major economic driver for Houston, attracting a strong tenant base of medical professionals and students.
  • The partnership will seek to implement a strategic capital improvement plan to enhance the resident experience at the Elle Collection properties.

The GSH Group Announces Sale of Foote Hills Property, Achieving Impressive Investor IRR of 15.25%

Retrieved on: 
Tuesday, April 9, 2024
IRR, Sale, Acquisition, GSH, Environment, Commercial property

CLAWSON, Mich., April 9, 2024 /PRNewswire/ -- The GSH Group, one of the nation's fastest-growing multifamily real estate investment companies, is thrilled to announce the successful sale of its Foote Hills property in Grand Rapids, Michigan.

Key Points: 
  • CLAWSON, Mich., April 9, 2024 /PRNewswire/ -- The GSH Group, one of the nation's fastest-growing multifamily real estate investment companies, is thrilled to announce the successful sale of its Foote Hills property in Grand Rapids, Michigan.
  • The sale resulted in an impressive ~18% IRR, while Investors enjoyed a ~10% cash-on-cash yield throughout the holding period of the property.
  • GSH acquired the Foote Hills property in March 2020, recognizing the immense potential in the thriving Grand Rapids submarket.
  • Gideon Pfeffer, CEO & Managing Partner of The GSH Group, expressed his satisfaction with the successful sale, stating, "The sale of Foote Hills marks a significant milestone for The GSH Group and demonstrates our ability to identify and capitalize on investment opportunities in strong markets.

Mohr Logistics Park Named 2024 "Commercial Development of the Year" CoStar Impact Award Winner

Retrieved on: 
Monday, April 8, 2024
CBRE, EV, Trade, Growth, Face, DHL, MSA, CoStar Group, Partnership, CRE, Acquisition, United, Town, HVAC, Hoosier, Heart, Indianapolis metropolitan area, MLP, Commercial property

WHITELAND, Ind., April 8, 2024 /PRNewswire/ -- Mohr Logistics Park (MLP) was named the 2024 "Commercial Development of the Year" CoStar Impact Award winner in the Indianapolis market. This year's winners of the CoStar Impact Awards — chosen for their growth, diversification, and ability to overcome unique challenges in their markets — were selected from a panel of more than 660 industry professionals drawn from each respective market.

Key Points: 
  • WHITELAND, Ind., April 8, 2024 /PRNewswire/ -- Mohr Logistics Park (MLP) was named the 2024 "Commercial Development of the Year" CoStar Impact Award winner in the Indianapolis market.
  • The master plan included eleven Class A structures, with varying sizes and specifications to meet growing logistics demands.
  • As Mohr Capital CEO and Indiana native Bob Mohr would say, Mohr Logistics Park is "Hoosier Owned and Hoosier Strong."
  • To learn more about the CoStar Impact Awards and review the full list of winners, visit www.CoStarImpactAwards.com/ .

BAM Capital Reviews: Elevating Real Estate Investments for Accredited Investors

Retrieved on: 
Friday, April 5, 2024
Acquisition, Headache, Sale, Heart, Safety, Commercial property

INDIANAPOLIS, April 5, 2024 /PRNewswire/ -- In the competitive arena of real estate investment, BAM Capital stands out as a beacon of excellence, offering accredited investors unparalleled access to multifamily syndication opportunities.

Key Points: 
  • INDIANAPOLIS, April 5, 2024 /PRNewswire/ -- In the competitive arena of real estate investment, BAM Capital stands out as a beacon of excellence, offering accredited investors unparalleled access to multifamily syndication opportunities.
  • With a rich portfolio boasting impressive returns and a steadfast commitment to investor satisfaction, BAM Capital is redefining the landscape of real estate investment.
  • For accredited investors seeking to diversify their portfolios with real estate, BAM Capital presents a compelling option.
  • BAM Capital is the private equity arm of The BAM Companies, specializing in the acquisition and management of multifamily apartment communities.

Byline Bank Commercial Real Estate Group Provides $12M to Finance the Construction of Retail Building for Time Equities

Retrieved on: 
Tuesday, March 19, 2024
JCPenney, Publix, Broker, Commercial property

CHICAGO, March 19, 2024 (GLOBE NEWSWIRE) -- Byline Bank’s Commercial Real Estate Group (BCREG) has closed on $12 million in financing for the construction of a 99,825-sq-ft retail building in Maryville, Tennessee, fully leased to the membership-only warehouse retailer BJ’s Wholesale Club, Inc.

Key Points: 
  • CHICAGO, March 19, 2024 (GLOBE NEWSWIRE) -- Byline Bank’s Commercial Real Estate Group (BCREG) has closed on $12 million in financing for the construction of a 99,825-sq-ft retail building in Maryville, Tennessee, fully leased to the membership-only warehouse retailer BJ’s Wholesale Club, Inc.
  • This loan, the seventh transaction Byline has financed for Time Equities and its affiliates, is enabling the full revitalization of a once-vacated mall in Maryville.
  • The redevelopment of this property brings new employment opportunities and provides the community with more local retail options for groceries and household staples.
  • “We are excited to support another Time Equities transaction while furthering BCREG’s strategy of building lasting relationships with best-in-class sponsors.”
    “We deeply value the longstanding relationship we have with Byline’s Commercial Real Estate Group.

The Real Good Food Company Announces Leadership Changes and Supply Chain Optimization

Retrieved on: 
Monday, March 18, 2024
Business administration, Health, Temperature, Moses Austin, Culture, Grupo Bimbo, Growth, Smithfield Foods, Food, Business, Sale, Kraft Foods, University, Senior, RGF, Marketing, Bank statement, IRI, Rationalization, Good, Commercial property

The Company today announced the appointment of Tim Zimmer as the Company’s Chief Executive Officer effective March 15, 2024.

Key Points: 
  • The Company today announced the appointment of Tim Zimmer as the Company’s Chief Executive Officer effective March 15, 2024.
  • Mr. Zimmer succeeds Gerard Law, who departed the Company as its Chief Executive Officer, effective March 15, 2024.
  • While at Smithfield, Tim played a pivotal role in growing the company’s packaged meats business and significantly improving its profitability.
  • The Company also appointed Mark Dietz as Senior Vice President of Operations, who will assist the Company with streamlining of the Company’s supply chain and improving efficiencies.

Bonso Electronics Announces Annual General Meeting Results

Retrieved on: 
Tuesday, March 12, 2024
BNSO, AGM, Commercial property, Adviser

HONG KONG, March 11, 2024 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ: BNSO) today announced the results of the Company’s Annual General Meeting of Shareholders (the “AGM”) held on March 8, 2024, at the offices of the Corporation’s China subsidiary located at the 10th Floor, Commercial Building, 2 Zheng Feng Bei Road, Fu Yong, Shenzhen, China.

Key Points: 
  • HONG KONG, March 11, 2024 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ: BNSO) today announced the results of the Company’s Annual General Meeting of Shareholders (the “AGM”) held on March 8, 2024, at the offices of the Corporation’s China subsidiary located at the 10th Floor, Commercial Building, 2 Zheng Feng Bei Road, Fu Yong, Shenzhen, China.
  • At the AGM, the shareholders approved and ratified (i) the appointment of Mr. Anthony So, Mr. Andrew So, Mr. Albert So, Mr. Kim Wah Chung, Mr.
  • Woo Ping Fok, and Mr. Henry F. Schlueter as members of the Board of Directors to serve for the ensuing year; and (ii) the appointment of MSPC Certified Public Accountants and Advisors, P.C., as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2024.

Broadstone Net Lease Provides First Quarter 2024 Business Update

Retrieved on: 
Wednesday, April 3, 2024
Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, GAAP, UNFI, Letter, Growth, BNL, Sale, Investment, Public expenditure, ABR, Commercial property

Broadstone Net Lease, Inc. (NYSE: BNL) (“Broadstone,” “BNL,” the “Company,” “we,” “our,” or “us”), today provided a business update for the quarter ended March 31, 2024.

Key Points: 
  • Broadstone Net Lease, Inc. (NYSE: BNL) (“Broadstone,” “BNL,” the “Company,” “we,” “our,” or “us”), today provided a business update for the quarter ended March 31, 2024.
  • Additionally, the Company announced that it will be participating in the Morgan Stanley Triple Net REIT Day on April 9, 2024.
  • During the first quarter, we invested $40.1 million, including $37.1 million in development fundings and $3.0 million in revenue generating capital expenditures.
  • The facility will be leased to UNFI pursuant to a 15-year net lease with multiple renewal options and 2.50% annual rent escalations.

Peachtree Group Ranked Among the Largest Commercial Real Estate Investor-Driven Lenders in U.S.

Retrieved on: 
Tuesday, April 2, 2024
Commercial Building & Real Estate, Construction & Property, Lodging, Finance, Asset Management, Travel, Banking, Professional Services, Mortgage Bankers Association, MBA, Investment, Environment, Commercial property

Peachtree Group ("Peachtree") ranked as the seventh largest U.S. commercial real estate investor-driver lender by the Mortgage Bankers Association ("MBA") 2023 loan origination rankings.

Key Points: 
  • Peachtree Group ("Peachtree") ranked as the seventh largest U.S. commercial real estate investor-driver lender by the Mortgage Bankers Association ("MBA") 2023 loan origination rankings.
  • In 2023, Peachtree deployed over $1.0 billion in commercial real estate credit investments.
  • Peachtree was also ranked as the tenth largest U.S. commercial real estate hotel lender, its third consecutive year in the top ten.
  • As a direct commercial real estate lender, Peachtree offers permanent loans, bridge loans, mezzanine loans, commercial property-asset clean energy (CPACE) financing and preferred equity investments across all commercial real estate sectors.

Benefit Street Partners L.L.C. Announces Closing of $120 Million Loan on a Texas Office Portfolio

Retrieved on: 
Thursday, March 28, 2024
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Silver, Commercial property, BSP, RMWC, City, CRE, Creativity, Real estate

(“BSP” or the “Company”) today announced the closing of a $120 million floating-rate senior loan to Silver Star Properties REIT (“Silver Star”), intended to facilitate the liquidation of Silver Star’s legacy real estate portfolio.

Key Points: 
  • (“BSP” or the “Company”) today announced the closing of a $120 million floating-rate senior loan to Silver Star Properties REIT (“Silver Star”), intended to facilitate the liquidation of Silver Star’s legacy real estate portfolio.
  • Silver Star expects to sell all current assets within their portfolio and subsequently acquire self-storage properties and transition to a self-storage REIT.
  • RMWC, a boutique private lender, provided a co-terminus second mortgage loan for $15 million at closing, for a combined loan of $135 million.
  • An inventory loan on office, retail, and industrial assets in three different cities is not something many lenders are capable of handling.