![]() ![]() The portfolio features a 300-unit 400 North luxury midrise property and the 403-unit M2 at Millenia gated community in Orlando, and the 437-unit The Venetian Apartments rental property in Fort Myers. – JSB Capital Group and BLD Group obtained $217 million to recapitalize a multifamily portfolio in Florida, Commercial Observer reported. – Property Markets Group Inc., or PMG, and Greybrook received a loan worth $226 million from Related Fund Management and Lubert-Adler for an apartment building in Fort Lauderdale, Fla., The Real Deal reported, citing a release. – Caruso obtained a $450 million loan from Morgan Stanley and Goldman Sachs to refinance its Americana at Brand mall in Glendale, Calif., The Real Deal reported. The deal is expected to close in September. 8 in connection with the merger of Global Net Lease and The Necessity Retail REIT Inc. – Special meetings of stockholders will be held on Sept. The combined entity is the largest storage operator in the US in terms of number of locations. completed their merger after obtaining approvals from their respective shareholders. – Self-storage REITs Extra Space Storage Inc. ⮞ The "other" retail sector, which covers outlet centers and single-tenant real estate investment trusts, recorded the largest decline at 92 basis points to 3.1% of outstanding shares. ⮞ The regional mall sector recorded the biggest increase in short interest at 53 basis points to 5.0% of outstanding shares. ![]() ⮞ Short interest in US equity real estate investment trusts was relatively unchanged in June, down 4 basis points from a month ago. Pandemic boomtowns Boise, Idaho Austin, Texas and Las Vegas saw the biggest declines in median home sale price.ĬHART OF THE WEEK: REIT short interest average down slightly in June Milwaukee and Omaha, Neb., came next with 11.6% and 10.4%, respectively. "More buyers are starting to come out of the woodwork as they get used to elevated mortgage rates, which is making the market feel even hotter," Redfin Chief Economist Daryl Fairweather said.Īmong the metropolitan areas Redfin surveyed, Rochester, NY, saw the largest increase in median sale price in June at 13.1% year over year. On an annual basis, median home sale price was down 0.6%. The median home sale price in June was $426,056, 1.5% below the all-time high of $432,397 recorded in May 2022. US homes sold near record highs in June on the back of increasing demand and a record low number of homes on the market, real estate brokerage Redfin Corp. S&P Global Market Intelligence offers our top picks of real estate news stories published throughout the week. ![]()
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