Good Morning/Early Afternoon!

CPI came in hot, S&P Global expects corporate default rate to fall in 2025, Franklin Street Properties reports a net loss, self-storage is getting attention in Europe, and the D.C. housing crisis is worsening as landlords go into default

If you enjoy the newsletter, then help us out by sharing with friends and colleagues. Click the referral link below to share the newsletter, hit milestones, get rewards!

Unlock Solar Savings with EnergySage

Looking to cut down on your energy bills 💡 and reduce your carbon footprint 🌍? EnergySage makes it simple! Our Solar Marketplace lets you compare multiple quotes from top-rated installers for free, helping you find the best option for your home 🏡.

Here’s how it works:

• Side-by-side comparison: No need to chase down quotes—get them all in one easy-to-use platform 📊.

• Save big: Homeowners who use EnergySage save an average of 20% on installation 💸.

• Expert advice: Our team of Energy Advisors is here to offer unbiased guidance every step of the way.

Whether you're looking to reduce your energy bills or make your home more resilient, EnergySage gives you the tools to go solar with confidence 🌞. Over 50,000 homeowners have trusted EnergySage to make their clean energy switch affordable and hassle-free.

Ready to get started? Click here to get custom quotes on EnergySage today!

Get solar quotes

Capital Markets

Headlines

• D.C. Housing Crisis Mounts As Unpaid Rents Rise

  Rules that have allowed renters to remain in-place in D.C. without paying rent have begun to trigger lender default notices to landlords as outstanding rents rise. On average eviction takes 12-16months to reach resolution

• Self-Storage Growing In Europe

  The self-storage sector is seeing growth in Portugal, Spain, Netherlands, and Belgium. The growth is catching the attention a major investors

• Franklin Street Properties Reports Net Loss, Sees 616K SF Of Leasing In 2024

  During 2024 FSP leased ~616K SF, and reported a net loss of $52.7mm. The office REIT reported their owned portfolio was 70.3% leased as of end of 2024 and believes their share price to currently be undervalued

• S&P Global Expects U.S. Corporate Levered-Loan Default Rate To Decline to 1.0% By September 2025

  A new report from S&P Global expects the U.S. corporate distress ratio and default rate to improve greatly by end of Q3 2025

• CPI Annual Rate Rises To 3.0%, Higher Than Expected

  Markets are now pushing out expectations of a Fed rate cut into September following the 0.5% rise in inflation in January. Core CPI was also above expectations

Deals Deals Deals

Sales

• Multifamily: The Praedium Group acquires a four-building 394-unit multifamily portfolio in Beverly, MA from Beverly Crossing. The price was undisclosed

• Multifamily: Goodman Real Estate acquired Town Deer Valley, a 388-unit multifamily asset in Phoenix, AZ, from Rockpoint and Related for $131mm

• Hospitality: McWhinney acquired the Thompson Denver hotel, a 212-key, 11-story hotel built in 2022 by T2 Hospitality for $95mm

• Multifamily: Eastham Capital acquired a 550-unit multifamily community in Hoffman Estates, IL for $76mm

• Multifamily: Felson Companies acquired Hawthorne Apartments, a 63-unit multifamily asset in Seattle, WA, for $22mm from Battery Street LTD. The deal was financed with a $13mm Fannie Mae loan

• Office: Alloy Real Estate Capital acquired Tech Center VI, a 105K SF office asset in Colorado Springs, CO, from Ogilvie Properties for $17mm

Debt

• Office: Fisher Brothers and Alaska Permanent Fund Corporation secured a $500mm refinancing of 299 Park Ave., a 1.2mm SF New York office tower, provided by Citi Group and JPMorgan

• Office: A JV between Alexandria Real Estate Equities, Inc., Uber Technologies, Inc. and the Golden State Warriors secured a refinance of Uber’s Global HQ building in San Francisco, CA. The JV secured a $500mm five-year, fixed-rate CMBS/SASB loan through Goldman Sachs and Barclays

• Multifamily: Developer Moshe Braver secures a $148mm construction loan from Dwight Mortgage Trust to develop a 524-unit multifamily project in Queens, NY

• Student Housing: ABCampus secures a mezz loan from Pearlmark for the acquisition of a 534-bed student housing community near Western Kentucky University in Bowling Green, KY. Eagle Realty Group provided the senior loan

• Multifamily: Turnbridge Equities secured a $51mm financing for Mailman Post, a 302-unit single-family build-to-rent community in Knightdale, NC

• Multifamily: S&S Properties secures a $21mm, seven-year, fixed-rate Fannie Mae DUS loan with full-term interest-only to refi a 206-unit multifamily community in Allentown, PA

• Multifamily: Brikwell secured a $19mm 10-year, fixed-rate loan through Freddie Mac for Red Table Apartments, a 77-unit multifamily property in Gypsum, CO

Developments

• Multifamily: High Street Residential broke ground on the Residences at Perimeter Summit, a seven-story, 350-unit multifamily community in Brookhaven, GA

• Multifamily: Housing Trust Group broke ground on a $185mm 310-unit affordable multifamily development after securing $288mm in construction financing and grants from a variety of sources

Capital Raising

• Multifamily: JLL Income Property Trust has fully subscribed the $104mm JLLX Diversified VI, DST. The DST consisted of a 192-unit multifamily community in Portland, OR, and a 98K SF grocery-anchored neighborhood shopping center in Marietta, GA

Leasing

• Industrial: RJW Logistics Group signed a 977K SF lease at CenterPoint Properties 2903 Schweitzer Road industrial facility in Joliet, IL

There’s a reason 400,000 professionals read this daily.

Join The AI Report, trusted by 400,000+ professionals at Google, Microsoft, and OpenAI. Get daily insights, tools, and strategies to master practical AI skills that drive results.

Sign up now for free and work smarter, not harder.

Meme Summary

Interested in advertising? Then get in touch with us