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Good Morning!

Merry Christmas! Happy Hanukkah! and Happy Holidays!

Posted below are the first results of the CRE Salary Survey conducted earlier this year along with a limited deal list. Expect activity to be pretty slow the next couple weeks. We’ll be looking to test out some new CRE content to keep things interesting.

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Capital Markets

2024 Salary Survey Results (Part I)

Due to unforeseen circumstances (that were totally in our control) the results were delayed earlier this year but now that its Holiday season here is our gift to the CRE community.

Acquisitions / Private Equity Results (USA Only)

The charts below are only focusing on US results from respondents who noted they were a part of an acquisitions team

Analyst Breakdown By Region

Associate Breakdown By Region

VP Breakdown By Region

Notable Funny Stuff

• People’s ability to follow directions is limited. We had at least 25% of people input their salary info in some form of abbreviated number, wild bonus numbers in what I can only assume is a typing error or failure to read the question, and somehow still had commissioned employees (brokers!) submit data even though the survey was not intended for them. Never change peeps you keep this interesting

Part II

We will be releasing Part II this week so keep an eye out after the Holiday

Deals Deals Deals

Sales

• Office: BG Ventures acquires a 375K SF office asset in D.C. from JBG Smith for $110mm. Northwestern Mutual provided a $70mm loan at sale

• Retail: DLC Management and Principal Asset Management acquire a $76mm shopping center portfolio in Columbus, OH from Island Capital and Casto

• Multifamily: Virtu Investments completes the disposition of Barclay Village, a 146-unit multifamily property in Oregon City OR to an undisclosed buyer for $29mm

• Industrial: TA Realty acquires a 193K SF industrial facility in Fontana, CA from Brookfield

Debt

• Retail: Pine Tree secures a $247mm loan from New York Life to refi a 6-property grocery-anchored retail portfolio acquired earlier in the year

• Multifamily: Regency Development Group secures a $56mm construction loan to develop an 8-story condo building in Bay Harbor Islands, FL

• Office: GFP Real Estate secures a $50mm loan from Northwind Group for 40 Exchange Place in New York, NY

Developments

• Hospitality: The Cordish Companies to open a $270mm Live! Casino & Hotel in Shreveport, LA

• Industrial: Creation to develop two industrial projects in metro Dallas-Fort Worth totaling 737K SF

• Student Housing: Landmark Properties plans to build a 950-bed student housing community in Ann Arbor, MI

• Multifamily: Rockhill Capital & Investments acquire 116 acres north of Dallas, TX to develop a 320-unit multifamily community, and sell entitled tracts of land to homebuilders and multifamily developers

• Multifamily: ZHL Group acquires a multifamily development site in Long Island City, NY to develop a 7-story building

• Self Storage: Turnbridge Equities acquires Brooklyn, NY site for $29mm to develop a self-storage building

Distress

• Office: Forethought Life Insurance Company begins foreclosure process at Cohen Brothers Realty’s 3 East 54th Street office in Midtown New York, NY

Meme Summary

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