Institutional investors favor multifamily and industrial, but they are investing across the spectrum of risk profiles and showing an interest in non-gateway markets and alternative property sectors.
The public pension, the second biggest in the nation, is offering $15.7 million in tax-exempt bonds via auction Wednesday. Calstrs’s new headquarters is considered an investment for the pension, which has a prodigious $297.6 billion under management.
Related Cos. is teaming up with Wynn Resorts Ltd. to pursue one of three gaming licenses for New York’s downstate area. Competitors include SL Green Realty Corp., which has proposed a casino project in Times Square in partnership with Caesars Entertainment Inc. and Jay-Z’s Roc Nation.
Starwood head honcho Barry Sternlicht dismissed concerns about recent withdrawal limits on non-traded REITs, reports The Real Deal. Fannie Mae and Freddie Mac are on pace to fall short of their target allocations for 2022, according to Multi-Housing News. These are among today’s must reads from around the commercial real estate industry.
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