Top News This Week: Newmark Parent Launching Non-Traded REIT
Take a look at the latest roundup of the week’s top national commercial real estate stories, as reported by our plugged-in and in-the-know CoStar News team.
Newmark Grubb Parent Launching Non-Traded REIT into Evolving Market
While the non-traded REIT sector has been struggling of late, the parent of Newmark Grubb Knight Frank is jumping into the turbulent business by sponsoring its first such offering. Cantor Fitzgerald said it will launch Rodin Global Property Trust, a new non-traded REIT that aims to raise up to $1 billion.
ULI Survey: Dealmaking, Prices Expected to Moderate Through 2018
After six consecutive years of growth, CRE transaction activity is expected to moderate next year, with lower but still relatively high transaction volumes and but better-than-average operating fundamentals in most property types. That’s the finding of the latest three-year survey of analyst sentiment released by the Urban Land Institute (ULI).
Vowing to Remain Independent, Kidder Mathews Appoints New President
Defying expectations that he has been grooming his firm for a possible sale, Kidder Mathews Chairman and CEO Jeff Lyon appointed one of the firm's top brokers to become the firm's new president. Lyon said the leadership team is committed to ensuring the Seattle-based firm remains independent for the long term.
New REIT Planning to Roll Up Medical Marijuana Facilities
The team at Innovative Industrial Properties Inc. contends there is serious money to be made acquiring industrial properties sanctioned to operate as medical cannabis facilities and leasing them back to licensed operators -- and they plan to be among the first to bring the concept to market.