A very pleasant Thursday morning!

Lots of Multifamily deals today. Another retailer files for bankruptcy, Yardi acquires a couple of coworking booking sites, an AI architecture company raises $16mm, and the Marlins are building an entertainment area outside their stadium.

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Capital Markets

Headlines

• Yardi Acquires Deskpass and Hubble

  The real estate tech company best known for its property accounting software in the real estate industry, has acquired two booking platforms for coworking and flexible workspace spanning North America and the U.K.

• Jo-Ann Files For Bankruptcy

  Crafts and fabric retailer Joann Inc. filed bankruptcy protection for the second time in less than a year. The company had $615.7 million of funded debt obligations as well as $133 million of trade debt due and outstanding, according to Chapter 11 documents filed on Wednesday

• qbiq Raises $16mm in Series A Round

  qbiq, an AI company focused on automating architectural planning, announced the closing of a $16mm Series A round led by Insight Partners. The round included participation from JLL Spark, 10D, Ocean Azul, Random Forest and M-Fund

• Miami Marlins To Develop Entertainment Area at LoanDepot Park

  The Miami Marlins in partnership with The Cordish Companies to develop Miami Live! at LoanDepot Park. The entertainment destination in the Miami’s Little Havana neighborhood will feature indoor-outdoor dining and entertainment spaces and is expected to open early 2026

Deals Deals Deals

Sales

• Data Centers: DigiCo Infrastructure REIT acquires two data centers leased to State Farm in Texas and Kansas for $248mm

• Multifamily: Sentinel Real Estate acquired two luxury apartment communities totaling 797 units in Gaithersburg, MD, and Tysons Corner, VA. The MD property had 386 units and was last owned by Aventon Cos. and the VA property had 411 units and was last owned by KETTLER

• Multifamily: Turner Impact Capital acquired a 423-unit apartment in Chicago, IL for $57mm from a JV led by Bridge Investment Group

• Multifamily: Mesirow Financial acquired a 412-unit multifamily high-rise in Tysons, VA from Hanover Company and PCCP

• Multifamily: Abacus Capital Group acquired a 520-unit multifamily community in Ann Arbor, MI from Marquette Companies and DRA Advisors

• Multifamily: GAIA Real Estate acquired the Virage on Memorial, a 372-unit apartment project in Houston, TX for $83mm

• Multifamily: Mesirow Financial acquired The District by Windsor, a 276-unit multifamily community in Denver, CO from GID

• Student Housing: Kennesaw State University Foundation acquired a 656-bed student housing community in Kennesaw, GA from a JV between Alden Street Capital and Invesco Real Estate for $99mm. Fifth Third Bank provided a $100mm acquisition loan. The asset last traded in 2021 for $64mm

• Retail: Acadia Realty Trust acquires a retail condo in New York’s SoHo for $25mm from Epic

Debt

• Retail: Stockdale Capital Partners secured a $164mm loan from Marathon Asset Management for the acquisition of a 1.2mm SF shopping center in Thousand Oaks, CA

• Hospitality: McWhinney secures $115mm in bridge financing from Peachtree Group for two Hyatt-branded hotels in Denver, CO and Austin, TX

• Industrial: Keystone Mortgage Corp. arranged $73mm in debt to refi a 1.1mm SF, 9-building, industrial portfolio across southern California. A life insurance company provided the nonrecourse loans, each featuring a 10-year fixed-rate and full-term interest-only payments

Developments

• Data Centers: TECfusions to develop a 3GW 500K SF data center in New Kensington, PA

• Multifamily: PCCP provided $20mm of preferred equity to AMAC for the development of a 380-unit multifamily in Kissimmee, FL

• Multifamily: McShane Construction Company to build The Apiary, a two-building, 248-unit apartment development in West Allis, WI

Meme Summary

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