In partnership with

Good Morning!

Short week with few deals today. A wave of executive orders were signed yesterday with most notable being those dealing with energy costs and inflation, the return to office order signed for federal workers could be a big boost for markets like D.C. with large amounts of government agencies. The Silicon Valley Bank fallout continues 2 years later with the FDIC suing 17 former execs and San Francisco records its first quarter of positive net absorption since 2019

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!

Stay Informed, Without the Noise.

Your inbox is full of news. But how much of it is actually useful? The Daily Upside delivers sharp, insightful market analysis—without the fluff. Free, fast, and trusted by 1M+ investors. Stay ahead of the market in just a few minutes a day.

Subscribe today.

Capital Markets

Headlines

• Trump Executive Orders Include Back To Office Mandates

  Among the orders signed yesterday, those most impacting real estate included order for return to office mandates for federal workers, a reversal on the governments use of private prisons, and a number of orders eliminating DEI directives

• FDIC sues 17 ex-SVB executives

  The lawsuit, filed by the FDIC last Thursday, seeks to recover billions of dollars in damages caused by SVB’s former leadership team for allegedly failing to manage interest rate and liquidity risks during the two years before the bank’s collapse

• San Francisco Office Market Shows Positive Net Absorption in Q4 2024

  For the first time since 2019 the San Francisco office market recorded positive net absorption of 118,000 SF. Vacancy still remains at 34.2% with market rents still in decline

San Francisco Office Vacancy by Space Type 

Deals Deals Deals

Sales

• Retail: PGIM Real Estate acquires the remaining 25% stake in Bella Terra, a San Jose, CA mixed-use shopping center, from DJM Capital Partners 

• Industrial: SL Industrial Partners acquired a 17-building industrial flex portfolio totaling 925K SF across Chicago, IL

• Medical Office: UCLA Health acquired a three-building, 163K SF medical office portfolio in West Hills, CA from Healthcare Realty

• Industrial: A 212K SF vacant industrial asset in Rock Hill, SC owned by Calare Properties has hit the market after plans with a semiconductor company fell through

• Industrial: A three-building Fulton Market portfolio in Chicago, IL has hit the market. The total size is 53K SF on a lot size over 40K SF. The minimum bid is starting at $11mm

Debt

• Multifamily: Greystone provided a $12mm Fannie Mae Delegated Underwriting & Servicing loan with a five-year term, 30-year amortization, and two years of interest-only payments to refinance a 61-unit multifamily property in Amityville, NY

Developments

• Mixed-Use: Fisher Brothers closed on a $161mm in construction financing for Area15’s 20-acre entertainment venue expansion in Las Vegas, NV. The funding includes $108mm from North Bridge and $53mm from Acore Capital

• Multifamily: Starwood Land breaks ground on Sunterra Lakes, a 1,463-acre development that will total over 4,000 homes in Houston, TX

Distress

• Office: Unilev facing potential foreclosure at One Riverway, a 508K SF office asset in Houston, TX with a $69mm outstanding loan balance scheduled to mature in March. Wells Fargo is the master servicer. The building was 51% occupied as of December

• Office: A local investor acquired a 100K SF Nashville, TN office asset for $6mm. National Bank of Tennessee had acquired the asset through foreclosed from Crestview Funds. The asset last traded for $25mm in 2013

Capital Raising

• Office: RXR completes a $180mm recap with Sagehall for 530 Fifth Avenue, a 475K SF office asset in New York

• Industrial: Foxx Development Inc. signed a 102K SF expansion at Hines’ 203K SF industrial campus, Britannia Technology Park, in San Diego, CA

• Office: ComPsych Corp. signs a 50K SF lease at One Pru, a 2.3mm SF office asset in Chicago, IL owned by Wanxiang America Real Estate Group and Sterling Bay

Meme Summary

Interested in advertising? Then get in touch with us