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Because not all commercial sub-asset classes are created equal, and neither are the top 0.001% of investors. The commercial sub-asset class sector is undergoing significant transformation, and at the forefront are family offices recognized for their savvy investment strategies. A prime illustration of this trend is the LDS Church, which is distinguished by its strategic choice for tenants with robust credit profiles. Similarly, the family office of Spanish billionaire Amancio Ortega, Pontegadea, has made a notable advancement by purchasing the Bridge Point Cold Logistics Center in Hialeah, Florida, thereby broadening its operations in the cold storage industry. 🔍 Spotlight on a Record-Breaking Deal 🔍 "Mormon Church Makes Record-Breaking $174.3 Million Warehouse Purchase in Hialeah, Miami-Dade County" 1️⃣ Florida Investments by the Mormon Church: Recent acquisition of six warehouses in Hialeah for a staggering $174.3 million, marking the largest industrial transaction in the area for 2023. The Church of Jesus Christ of Latter-day Saints, already a major landowner in Florida, adds this to its portfolio of a vast ranch in Central Florida and substantial timberland in the Panhandle. 2️⃣ Strategic Business Expansion: This warehouse purchase is a strategic investment move, reinforcing the Mormon Church's stature as one of the U.S.'s largest real estate investors. Experts note the sustained high demand for warehouse space in South Florida, driven by the region's population boom and the rise of online shopping. 3️⃣ Real Estate Ventures of Religious Institutions: The LDS church's holdings include over 2 percent of Florida's landmass, showcasing its significant investment in real estate through various church-owned businesses. 4️⃣ Religion Meets Real Estate: The Church's real estate strategy aligns with its principles of self-reliance and preparedness, demonstrated through its vast holdings and resource storehouses. 👀 Stay Tuned for Our Next Move! 👀 We are gearing up to invest in a similar capacity in a promising project in Q2 2024. Investors, watch your emails for this exciting opportunity! 🔗 Details of this remarkable purchase can be found here: https://lnkd.in/d4exbM_u #RealEstateInvestment #FamilyOffice #CommercialRealEstate #StrategicInvesting #PropertyMarket #BusinessExpansion #WarehouseInvestment #FloridaRealEstate #LandAcquisition #EconomicGrowth

It was time to sell a multigenerational portfolio! Back in 2008, we met with members of the Waxman and Feirstein families. The prior generation had spent decades amassing a large parking property portfolio. Back in those days, the lots were worth more as parking revenue-producing assets as opposed to their land value. The current generation wanted to know what the assets were worth, so we put together a valuation on about a dozen parking assets located in midtown, Chelsea, and the garment center of New York City. The market had already begun to crack as the Great Financial Crisis was setting in. Notwithstanding this fact, the values were still substantially above what the families had paid for the assets. However, given the market conditions, we advised the families to not sell and hold onto the assets until the market got better. They agreed. We kept in touch with the families regularly as the GFC unfolded and eventually began to abate. When the time was right, we approached the owners and let them know it was time to take another look at the assets, and a new set of valuations was prepared. We were retained to sell all of the assets. The buildings at 321-325 West 35th Street and 326-328 West 36th Street created a block-through site with two lots on 35th Street having 52 feet of frontage and one lot on 36th Street with 83 feet of frontage. The total site had approximately 164,000 buildable square feet. The site was commercially zoned and was only commercial. With the floor plates too small for office development, hotel developers were the target market. We were able to create a bidding war between three hotel developers and were able to close the transaction on 1/16/13 for $33.5 million. By the time the assignment was completed, all of the assets were sold for an aggregate price in excess of $120 million. Here's what one of the sellers had to say: "Bob Knakal and his team did an outstanding job selling our entire parking property portfolio. The execution was terrific and the results were spectacular!" Mike Feirstein, Amon Partners #testimonialtuesday #nycrealestate #bkrea

JUST LISTED! NorthPeak Commercial Real Estate is pleased to present for sale 4251 E 104th Avenue, a single tenant, net leased retail building in Thornton, Colorado. The building was originally constructed as a Starbucks anchored strip center with four units and a drive-thru, but today is 100% occupied by a gym on an expiring lease. The expiring lease affords a new owner several options, including executing a new 10-year agreement or demising the property back into its original configuration and capturing higher rents. VIEW PROPERTY: https://lnkd.in/g4HuAnCa PROPERTY HIGHLIGHTS 🏠 Address: 4251 E 104th Ave., Thornton, CO 80233 💰 List Price: $1,850,000 📐 Property Size: 6,600 SF 🏢 Total Units: 4 🏠 Property Type: Retail #realestate #denverrealestate #denver #retail #northpeak #northpeakcre #property #listing #thornton

Holiday Edition: LA Real Estate Weekly Roundup: 🖊 Federal Realty Investment Trust, a retail-focused REIT, has sold an 8 building portfolio in Santa Monica’s Third Street Promenade to XYZ Rent, a locally based property manager and developer. Sale price was $103 million, or about $557/SF for the 185k SF portfolio. One of the first open air mall concepts, the appeal has waned with many storefronts vacant and unwelcome elements appearing. The Santa Monica community needs to unify to come up with solutions to address the issues. 💸 East End Capital has bagged $130 million in construction financing to build ~250k SF studio in the Arts District of DTLA at 2233-2241 Jesse St. Centennial Bank and Monroe Capital, Inc. provided the financing which was sourced by Greg Grant at CBRE. The project called "East End Studios – Mission Campus" is planned for 5 acres and will contain 5 soundstages spanning 100k SF as well as 150k SF of post-production workspaces, offices, talent suites and commissary space. While another writer's strike looms at the end of July, the most active players continue to act with long term conviction around the industry. ✏ LA City Officials recommend finishing the LA Convention Center expansion Before 2028 Olympics. Unclear if it can be done at a feasible cost and schedule. The project in projected to cost $1.4 billion. 🖋 Sam Nazarian’s sbe Lifestyle Hospitality has leased 13k SF at the Reuben Brothers’ Century Plaza development in Century City to open a medical and wellness facility. It consists of ~15% of the ground-floor retail space available at Century Plaza, which also houses the 726-key Fairmont Hotels & Resorts and attached condo tower. SBE partnered with Fountain Life, a company focused on finding ways to extend lifespans, through medical diagnoses and prevention efforts. Fountain Life will operate the facility. David and Simon Reuben, acquired the project through a $1 billion foreclosure last year, about half of what it cost to build the project. There are 3 hot restaurant concepts set to open later this year. 🖊 Law firm Hanson Bridgett LLP signed 15k SF Rising Realty Partners' CalEdison DTLA historic building at 601 W 5th St. #cre #officeleasing #financing #capitalmarkets #news #leasing #wellness #retail

Teamwork makes the dreamwork IF the team members complement one another In this case, we created a team that would demolish the '92 Dream Team with Jordan, Pippen, Bird, Ewing, Barkley, and Magic 🔥 Here's what we did: -bought industrial-flex portfolio in June 2023 (shout out Alan Cafiero) -2 largest tenants totaling 37k SF were expiring Jan 2024 (6 months after closing) and paying a blended $4.75/foot -Painted the exterior of the building from a Big Bird Yellow to a gray tone -Paved sections of the parking lot -Upgraded the landscaping and curb appeal of the industrial park -Replaced entire 37K SF with a single user at a market rate of $7.25/foot NNN prior to initial leases expiring We increased our rent collection for the property by $8k/month ($95k/year) Even more exciting... assuming a 7.5% cap rate, we increased the property's value by $1.26 million. Not to mention our warehouse looks a helluva lot better now... Pumped to see all the progress our team's making 💪 Spencer Pascal Roy Pascal Kathy Anderson Daniel Salonis #cre #commercialrealestate #realestate #industrial #warehouse #investing Progress Realty Partners

Exciting changes are happening in retail spaces across the country, and Long Island is no exception. The Ridge Hill shopping center in Yonkers is being reimagined by North American Properties, focusing on enhancing public spaces and creating a more pedestrian-friendly environment. Similarly, on Long Island, we are seeing a shift towards creating vibrant, community-focused retail areas that attract both businesses and consumers. As we navigate these changes, it’s clear that the future of retail is about more than just shopping—it’s about creating experiences and building communities. #NAILongIsland #RetailRevolution #CommercialRealEstate #LongIsland #CommunityBuilding #RealEstateTrends

Investment Opportunity in Seattle: Mini Mart & 4 Apartments Are you looking for a lucrative investment in Seattle's thriving real estate market? Priced at $1,100,000 with a cap rate of 7.9%, this property at 19246 15th Ave NE offers a unique blend of retail and residential spaces. Property Details: - Type: Mixed-use (Retail & Residential) - Size: 5,796 SF on 0.39 Acres - Zoning: RM 2400, ideal for redevelopment - Current Setup: Includes a 1,661 SF convenience store generating approximately $400K annually, plus 4 apartments ripe for remodeling or redevelopment. - Potential: Explore options for a 3-story multi-family building or townhomes to maximize returns. Why Invest Here? Seattle Real Estate Managing Broker Victor J. Hernandez recommends this property for its strategic location and versatile zoning. Whether you're an entrepreneur, investor, or multi-family developer, this is your chance to capitalize on Seattle's booming real estate market. Contact Victor J. Hernandez: For more details or to schedule a viewing, contact Victor J. Hernandez at 206-245-0159 or email viccipe@gmail.com. Discover how this property can fit into your investment portfolio today! #SeattleRealEstate #InvestmentProperty #CommercialRealEstate #EntrepreneurOpportunity #MultiFamilyDevelopment #VictorHernandez

This week's Toronto Star executive interview features Jonathan Gitlin, president and CEO of RioCan Real Estate Investment Trust. Jonathan and I met up at the company's new flagship megastructure, the Well, to talk about his personal career journey, his former boss and mentor, Ed Sonshine, how to save downtown, why he's so bullish on brick and mortar retail, and to debate the definition of the word "mall." https://lnkd.in/gCCpcyw5

The Bascom Group, LLC has acquired San Miguel Court Apartments, a 1974 built, 96-unit garden-style #multifamily property located at 2029 Calle Lorca in Santa Fe, New Mexico. Ryan Greer and CJ Connolly of CBRE arranged the #debt financing for the acquisition with LaSalle Investment Management as the lender. Apartment Management Consultants LLC will provide property management, and SD-Cap Construction Management, LLC will provide #construction management services. With the unprecedented interest rate increases over the past year and subsequent decline in #apartment values, San Miguel Court continues the brisk acquisition pace for Bascom in 2024, marking the firm’s third #acquisition this year. The purchase of San Miguel Court comes on the heels of recent Bascom acquisitions including, The Overlook, a 344-unit garden style #multifamily property located in Albuquerque, New Mexico, and Texan26, a 204-bed student #housing community in Austin, Texas. San Miguel Court #Apartments features a diverse unit mix, including one-, two- and three-bedroom #units with in-home washers and dryers, hardwood-style flooring, stainless steel appliances, and large walk-in closets. The low-density #property sits in a desirable infill location, offering residents access to a vibrant neighborhood, with proximity to major #employment hubs, entertainment, shopping, dining, and recreational facilities.   Santa Fe’s expanding economy, along with an appealing climate and exceptional quality of life, has fueled recent growth in both the population and labor force. In 2023, #SantaFe saw a significant surge, marked by a 3.9% increase in the labor force and the addition of 2,300 new jobs. Key contributors to Santa Fe’s employment growth include the Los Alamos National Laboratory (LANL), a growing hub for scientific innovation and a major catalyst for #economic expansion in New Mexico, the fast-emerging film and entertainment industry, marked by new studio developments in Santa Fe’s Midtown District, and the CHRISTUS Health Regional Medical Center, which recently broke ground on a 72,000 square-foot Cancer Center expansion, expected to open late 2024.   Santa Fe is widely considered one of the country's great havens for arts and culture, due to its numerous galleries, museums, and installations. Santa Fe is the capital of the state of #NewMexico and the fourth-most populous city in the state. Tourism is another major element of the Santa Fe #economy, with visitors attracted year-round by renowned five-star resort facilities and numerous outdoor activities. Tom Gilfillan Paul Zakhary #propertydevelopment #realestate #cre #commercialrealestate #investmentproperty #multifamilyinvesting #realestateinvesting #realestateinvestor #propertymanagement #cashflow #multifamilyrealestate #investmentproperty #realtor #investing #investment #investor #multifamilyhousing #apartmentinvesting #multifamilyinvesting #multifamilyinvestments

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