Jeff Ferry

Net Lease REIT CTO Realty Growth, Inc. (CTO) - which has been among the better-performing REITs this year - was little changed today after announcing that it acquired a portfolio of three open-air shopping centers in North Carolina and Florida for $137.5M. CTO has been one of the most aggressive REITs on the acquisitions-front in recent months, noting that it has increased its portfolio by 19% in square feet and 14% in annual base rent compared with June 30, 2024. CTO also noted that it sold one property in Utah for $18M, which was its only asset outside of its focus within Southeast and Southwest markets. Meanwhile, small-cap Alpine Income Property Trust (PINE) - which is an externally-managed affiliate of CTO Realty - rallied 2% today after it raised its quarterly dividend by 2% to $0.275/share (6.5% dividend yield). With the dividend increase, we've now seen 60 REITs raise their dividend in 2024, while 14 REITs have announced dividend reduction. As we'll discuss in our State of the REIT Nation report later this week, the average REIT dividend payout ratio was 69% in the second quarter - an improvement from the 78% in the first quarter and well below the historical average dividend payout ratio of around 80%. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

5

An uptick in active requirements along with several spaces going under offer indicate the limited transactional activity in the Golden Triangle life sciences market in Q2 will be followed by a rebound in leasing in Q3. Recent announcements like the Daubeny project in The Oxford Science Park (TOSP), the construction of three new state-of-the-art buildings providing 450,000 sq ft of high-spec laboratory and office space, further exhibit the appetite for innovation in the sector and in the Golden Triangle in particular. Read our Q2 Life Sciences - Golden Triangle Report: https://cushwk.co/3WEaMzu The report looks closely at investment volumes, leasing take up, lab supply and pipeline, and investment into life sciences real estate across Cambridge, Oxford and London. #CushWake #LifeSciences #GoldenTriangle #Q22024

11

KKR, a leading global investment firm, has acquired a $2.1 billion portfolio of 18 multifamily assets from Quarterra Group Multifamily. #KKR #Quarterra #RealEstate #Investment #Multifamily #Acquisition #BusinessNews #RealEstateInvestment #PropTechBuzz #PTB #PropTech #Innovation Read More - https://lnkd.in/dNerjH7R —---------------------- If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem. Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to [email protected].

2

Lennar’s $6B REIT Spin-Off: A Game-Changer for Homebuilding Strategy Lennar Corporation is making waves with its plans to spin off $5–6 billion in land holdings into a new REIT, Millrose Properties. This bold move supports Lennar’s transition to an asset-light strategy, aimed at mitigating risks and boosting cash flow. Key highlights include: The Spin-Off Details: - Millrose will act as a land bank, managing and selling land to Lennar and other developers on a “just-in-time” basis. - The REIT will leverage a recycled capital structure, ensuring liquidity without constant fundraising. - Backed by Goldman Sachs-linked Kennedy Lewis Investment Management, Millrose is poised for resilience during market downturns. Strategic Implications: - Lennar can focus on home construction while reducing exposure to land market volatility. - Millrose’s innovative model offers a blueprint for other developers seeking risk mitigation. Market Challenges: - Rising mortgage rates and falling Q4 home orders (down 3% YoY) pose immediate hurdles. - Lennar’s shares dropped 7% post-announcement, reflecting market skepticism. What’s Next? - Pending board approval, Millrose will redefine how land assets are managed. - This shift could inspire similar strategies across the homebuilding industry. This move underscores Lennar’s commitment to innovation and adaptability in a challenging market. What are your thoughts on this strategic pivot? #Colliers #Pittsburgh #MoreIn24 #ThriveIn25 #ClosersCoffee #ColliersCapitalMarkets #DidItClose? https://lnkd.in/e8qrgDH8

1

DC BLOX Raises Additional Capital and Secures $265 Million Green Loan - DC BLOX, a provider of interconnected data centers, has raised incremental equity capital from existing and new investors, led by Post Road Group and Bain Capital Credit. - The funding will provide over $1 billion of total capital for future construction and development of powered-land banking opportunities. - The company secured a $265 million green Senior Secured Credit Facilities loan from First Citizens Bank, ING Capital, and Nomura Securities International, Inc. - This financing aims to develop multiple preleased hyperscale-driven edge sites and invest in energy infrastructure for a project requiring 216 MW of utility power. - CEO Jeff Uphues stated that the financial support demonstrates confidence in the company’s ability to meet the growing digital infrastructure needs. - SVP Melih Ileri emphasized that the debt infusion and equity commitment position the company to achieve its development goals. - The transaction showcases the partners' trust in DC BLOX's growth trajectory by converting existing debt positions to equity. - Managing Partner Michael Bogdan remarked on DC BLOX's expertise and capabilities in building new hyperscale facilities in the Southeastern U.S. - Bain Capital and other partners expressed excitement in supporting DC BLOX's mission to meet the complex digital infrastructure needs of its customers. - The loan underscores a commitment to energy efficiency in data centers, contributing to a low-carbon future. - Guggenheim Securities served as the Sole Placement Agent for the transaction. - DC BLOX operates data centers in several locations in the Southeast, aiming to enable enhanced digital services and economic growth in the region. https://lnkd.in/gqkuqNaM

12

Bluerock Value Exchange, a national sponsor of 1031 exchange and Delaware statutory trust investment programs, has fully subscribed BR Diversified Industrial Portfolio III, DST program with $41.2 million in equity from third-party investors. Bluerock Josh Hoffman #BluerockValueExchange #DST #1031exchange #Delawarestatutorytrust #subscribed #Sunbelt #industrial #equity #warehouse #distribution #investors #monthlycashflow #UPREIT

1

What's happening in the industrial real estate market and what's the outlook for the rest of 2024? I just did an interview with Adrian Ponsen (National Director for Industrial Market Analytics at CoStar) to get a mid-2024 update. We chatted about a number of topics: 🏭 State of the current market 🏭 Outlook for the rest of 2024 and 2025 🏭 Interesting markets to follow 🏭 What Adrian is watching for the rest of 2024 https://lnkd.in/gRqKEbx4

15

2 Comments

Rates Rise • REITweek Updates • Hotel M&A REIT Daily Recap: https://lnkd.in/ewH-aJ5e One of several REITs to publish a business update ahead of the REITweek industry conference in the week ahead, Equity Residential (EQR) slipped 2% today despite providing an encouraging business update ahead of its REITweek presentation next week showing a continued rebound in multifamily fundamentals in early 2024. $EQR notched blended rent growth of 2.9% in May - up from 1.6% in Q1 and 0.8% in Q4 - comprised of buoyant mid-single digit renewal rent growth (+5.0%) and marginally positive new lease rates (0.4%). In the updated deck, EQR noted that expects to deliver full-year FFO and NOI that are "towards the higher end" of its existing guidance ranges, citing sustained high demand, pricing power in East Coast markets, and lower-than-anticipated expense growth. Apartment REITs were among the Winners of REIT Earnings Season, as five of the eleven REITs that provide full-year FFO guidance raised their outlook - led by coastal-focused REITs - while the remaining six maintained their prior outlook.

4

1 Comment

A joint venture between Blue OwL Real Estate, Chirisa Investments and PowerHouse Data Centers has secured $600 million of construction financing to build a data center development in central Virginia. Newmark arranged the transaction with a global debt and structured finance team led by Jordan Roeschlaub (pictured), Jonathan Firestone, Nick Scribani, Benjamin Kroll and John Caraviello in collaboration with Brent Mayo, head of Newmark’s data center capital markets team. Read more: https://lnkd.in/gu6rhpn3 #RealEstate #CommercialRealEstate

107

3 Comments

Digital lending platform Fibe, formerly known as EarlySalary, has raised $99 million in a Series E funding round led by TR Capital, Trifecta Capital and Amara Partners. Existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the round, which included both primary and secondary transactions. Read the full story here: 👇 https://lnkd.in/gUBdfC6F #funding #Lending #digitallending #Loans #investors #startup #indianstartupnews

421

2 Comments

💼Company: Dice 💰Funding: $5 million ⚡Round: Series A Funding 👥Investors: Dallas Venture Capital, GVFL Limited. Dallas Venture Capital, a #venture capital firm, led a $5 million Series A fundraising round for the enterprise expenditure management platform Dice. Venture capital firm GVFL participated in the round as well. The firm announced on Wednesday that it will utilize the freshly generated cash for a range of go-to-market efforts, such as improving market penetration, expanding #customer outreach, streamlining sales and marketing tactics, and bolstering its artificial intelligence capabilities. Read more - https://lnkd.in/gyPwJ2TT To share your startup story write us on - [email protected] #Dice #FundingNews #VentureCapital #ArtificalIntelligence

2

Global investment firm, KKR, together with Summit-based ECP (Energy Capital Partners), the largest private owner of power generation and renewables in the U.S., recently announced a $50 billion partnership that aims to accelerate the development of data center and power generation and transmission infrastructure for the rapid expansion of artificial intelligence (AI) and cloud computing globally. This strategic partnership combines KKR’s deep expertise in digital infrastructure, power, and the energy value chain with ECP’s premier energy transition platform in electrification and power and renewable generation. Advancements in AI are fueling an unprecedented demand for data centers, but a limited availability of reliable power is impeding the strategic goals of the world’s largest technology companies, enterprises, and governments looking to deploy AI.

1

We’re excited to share a feature interview with ScaleNorth Co-CEO, David Lasky, published this week by “OneGuide”. OneGuide is a PE portfolio acceleration portal highlighting expert authored insights. It’s subscribed to by top-tier PE & VC investors and their portfolio companies for expert growth strategies. In this guide, David discusses how growth-stage companies can leverage technology and outsourcing partners to transition from a full-time to a fractional finance team. View the link in the comments below. #FractionalAccounting #GrowthStrategy #BPO #CorporateFinance

69

14 Comments