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May 15, 2023

A Huge Tenant At Icahn's Atlanta Tower Is Backing Away From Its Space

Hear From T. Dallas Smith & Co.'s President On Where Atlanta Stands Among Competitive Peer Markets On June 7

When the Center for Global Health Innovation struck a deal to lease 200K SF at a Midtown Atlanta tower owned by Icahn Enterprises at the end of 2021, it planned to create a coworking environment where healthcare, life sciences, biotech and other nonprofit organizations could unite under one roof.

But the CGHI has put those plans on ice after the organization was unable to raise the necessary funds, Bisnow has learned.

A Huge Tenant At Icahn's Atlanta Tower Is Backing Away From Its Space

"Despite the overwhelming industry support and significant pre-construction demand for the space, the project does not have the public and private funding needed to move ahead at this time,” CGHI Board Chair Gary Reedy told Bisnow in an email on Friday. “We will delay our plans for the building and assess…

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This Week's Atlanta Deal Sheet

A development in the Sweet Auburn neighborhood of Downtown Atlanta could be getting an incentive boost to make way for a senior housing project.

This Week's Atlanta Deal Sheet

Invest Atlanta's Tax Allocation District committee voted Thursday to recommend that the full board of Atlanta's economic development arm should greenlight a $1.5M incentive from the Eastside Tax Allocation District to finance the second phase of McAuley Park, which would create 96 units of senior housing, according to documents.Pennrose, in…

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What Peak? Housing CPI Continues Hike In April

What Peak? Housing CPI Continues Hike In April  

Fourteen months of interest rate hikes haven’t reversed the country’s seemingly unstoppable housing cost growth. Despite some projections that home prices had peaked at last, the consumer price index for shelter in the U.S. grew again in April, albeit by a sliver.

The overall shelter index increased 0.4% month-over-month after rising 0.6% in March, according to data released last week. Compared with a year ago, rent for primary residences was up 8.8%, which reflects the surge in rents beginning with the overall spike in inflation. The increase between April 2021 and 2022 for rents came in at 5%.

“Last year's rent spikes were unsustainable, but that doesn't mean rent growth is over,” said CP Capital U.S. Managing Director Jay Remillard, whose company has about 70,000 multifamily units under management nationwide. “In a lot of places, rent growth is merely back to its normal annualized rate of 3% to…

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PODCAST: Trepp's Manus Clancy On Office Distress, The Debt Ceiling And The Ongoing Banking Crisis

PODCAST: Trepp's Manus Clancy On Office Distress, The Debt Ceiling And The Ongoing Banking Crisis  

Bisnow's audio series, Bisnow Reports, examines every facet of the international commercial real estate industry — from the murky future of retail and office to real estate’s reckoning with diversity to the effects of climate change on the built world, and so much more. You can subscribe on iTunes, Spotify and Amazon Music, or scroll down to listen in your browser.

On this episode, we hear from Trepp Senior Managing Director Manus Clancy, a commercial real estate debt expert, about the tens of billions of dollars in loans maturing on both office and multifamily buildings this year, the state of lending amid the >

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