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Job openings came in hot in November, Holiday sales grew by 9%, home prices look to stay competitive in 2025, and office demolitions appear to be on the rise. Refinancings are picking up to start the year, along with a few greatly discounted office deals

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Capital Markets

Headlines

• US Job openings rise to 8.1mm in November

  Openings rose to 8.1mm in Nov, up from 7.8mm in October, a sign companies are looking for workers despite a cool down in labor markets

• Online Holiday Spending Rose by 9%

  Online shopping grew by 8.7% in November and December, according to Adobe. The largest growth came from groceries

• Home Prices to Stay Competitive In Northwest and Midwest

  A new report from Zillow says some areas will stay very competitive in 2025. Cities like Indianapolis, Providence, Hartford, and Philadelphia could continue to see home price growth

• Office Demolitions On The Rise

  Owners across Atlanta, a market with limited office demand, are coming to the realization their office assets are only worth the value of the land they’re built on

Deals Deals Deals

Sales

• Multifamily: Material Comforts acquires a 596-unit 16-property portfolio in Los Angeles, CA from Heitman, Invesco, and Ethos Real Estate

• Industrial: Easton Group and TA Realty acquire a two-building warehouse portfolio in Miami, FL for $85mm

• Multifamily: Donaldson Impact Investments and Affordable Homes & Communities acquires a 312-unit affordable housing asset in Burtonsville, MD

• Medical Office: Joyland Management acquires two adjacent medical buildings in New York, NY for $34mm

• Industrial: WareSpace acquires a 241K SF distribution warehouse in Addison, TX from M2G Ventures 

Debt

• Multifamily: Georgetown Company secured a $114mm seven-year, fixed-rate loan through Freddie Mac for a 496-unit apartment tower in Chicago, IL

• Senior Housing: A JV between Harbert Management Co. and SRG secured a $76mm loan to refi a 350-unit independent living and assisted living community in Naples, FL

• Multifamily: Watermark Capital Group secured a $70mm 20-year, floating-rate construction loan from Slate Property Group and White Oak Real Estate Capital to develop a 184-unit multifamily project in Queens, NY

• Office: 601W Companies and David Werner Real Estate Investments secure a $62mm acquisition loan from Northwind Group for a Chicago, IL downtown office asset

• Hospitality: Driftwood Capital secures a $29mm loan to refi Wylie Hotel Atlanta. Fortress Investment Group provided the 36-month loan

• Multifamily: Portman Residential and National Real Estate Advisors secure a loan to refi a 370-unit luxury multifamily asset located in Atlanta, GA. Apollo provided a five-year, fixed-rate loan

• Industrial: Summit Associates Inc secured an 11-year, fixed-rate loan to refi a two-building 113K SF industrial portfolio in Edison, NJ

Developments

• Multifamily: Columbia Ventures planning a mixed-use development that will feature 845 units in Atlanta, GA

• Multifamily: Canyon Partners Real Estate and Gilbane Development Co., to develop a 375-unit multifamily project in Austin, TX. Leasing expected to begin in early 2027

• Multifamily: WSS Development delivers a $100mm 360-unit multifamily community in Huntsville, AL

Distress

• Office: Williams Equities acquired a 300K SF office asset in Midtown Manhattan for $147mm from SJP Properties and PGIM Real Estate. The asset was previously acquired for $245mm in 2018

• Office: Real Capital Solutions acquires a 509K SF office in Dallas, TX from CBRE Global Investors for $66mm. The asset last traded in 2017 for $120mm

Meme Summary

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