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May 10, 2023

Sterling Bay Pins Slow Lincoln Yards Development, Need To Refinance On Outgoing Lightfoot Administration

Managing The Construction Pipeline Slowdown To Be Discussed At Chicago Construction & Development On May 25

Sterling Bay is seeking new financing for its $6B Lincoln Yards megadevelopment after city permitting delays put the project years behind.

Sterling Bay Pins Slow Lincoln Yards Development, Need To Refinance On Outgoing Lightfoot Administration

Sterling Bay CEO Andy Gloor said in an interview with Bloomberg that the 53-acre life sciences hub needs to be recapitalized due to slow permitting that wreaked havoc with its construction timeline. Gloor said he has refinancing interest from private individuals lined up, but he chided outgoing

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Parkway Properties, Midway Holdings To Form New Combined Company

Parkway Properties, Midway Holdings To Form New Combined Company  

Real estate firms Parkway Property Investments and Midway Holdings are forming a new real estate investment, operations and management firm to be headquartered in Houston.

The new company will operate under what both companies are calling a “refreshed Parkway brand,” while Houston-based Midway will continue to operate under its established name, a news release stated. Midway will become Orlando, Florida-based Parkway’s exclusive development partner, though Midway may still pursue specialized or niche opportunities that are not part…

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Landlords Ask Supreme Court To Rule Rent Stabilization Unconstitutional

Landlords Ask Supreme Court To Rule Rent Stabilization Unconstitutional  

New York landlords have officially taken their challenge of the state’s 2019 rent reform laws to the Supreme Court just a few months after a federal appeals court upheld the regulations. The Rent Stabilization Association, the Community Housing Improvement Program and…

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Nuveen Acquires Former MLB Star's Affordable Housing Firm And Its 12,000-Unit Portfolio

Nuveen Acquires Former MLB Star's Affordable Housing Firm And Its 12,000-Unit Portfolio  

The real estate arm of investment giant TIAA has made one of the biggest multifamily deals in the country this year, buying a portfolio largely based in New York City with 12,000 apartments. Nuveen, which manages $1.1T in assets, has closed on its acquisition of the entire portfolio of assets of…

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