In case you missed the headlines, here’s the latest roundup of top national commercial real estate stories reported by CoStar’s News team over the past week.
Acadia Realty Leads Latest Round of CRE Fundraising that Could Generate $5 Billion in Deals
Acadia Realty Trust raised $520 million in commitments for its latest real estate investment fund, the largest of several fundraising closings in the past week that could generate nearly $5 billion in property deals in coming months. Germany’s HansaInvest creates a $500 million U.S. fund, while Farallon, Bentall Kennedy and Sares-Regis also raised hundreds of millions.
Office Demand Holds Steady in Tech Markets
Reports of the tech sector's impending demise may have been greatly exaggerated, according to a new report by JLL and comments by CEOs of some of the largest U.S. office landlords at a recent investor conference. While CRE demand remain solid in leading tech markets like San Francisco, however, CoStar economists say the current explosion of new office supply will eventually exert downward pressure on rents and occupancy.
Griffin Capital Becomes Latest Non-Traded REIT Exploring Exit Options
The privately held investment and asset management company said it’s now exploring strategic options for its Griffin Capital Essential Asset REIT. Griffin has hired Robert A. Stanger & Co. as a financial advisor to assist in exploring strategic alternatives for the REIT, including potential liquidity opportunities.
Global Logistic Properties to Buy Hillwood's U.S. Industrial Portfolio for $1.1 Billion
Fundamentals for owners of industrial real estate have arguably never been better, as evidenced by GLP’s ongoing buying spree. A deal announced by the Singapore company to purchase a 15-million-square-foot logistics portfolio from Hillwood Development Co. would solidify GLP’s position as the second-largest owner of industrial property real estate in the U.S.