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August 4, 2023

This Week's D.C. Deal Sheet

Learn About The Latest Developments And Investments In Bethesda, Silver Spring, Rockville And Chevy Chase Sept. 6

AvalonBay Communities has sold an apartment building on Arlington's Columbia Pike corridor for $105M. 

This Week's D.C. Deal Sheet

The national multifamily REIT, which is headquartered nearby in Ballston, revealed in its earnings release this week that it sold the 269-unit Avalon Columbia Pike building in July. It didn't disclose the buyer, but property records show it was acquired by an affiliate of D.C.-based Penzance. The building has been rebranded to…

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Top Stories on Bisnow.com

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Investors Looking To Seize On Depressed Property Valuations Create New Crop Of REITs

It may seem like an odd time to launch a new commercial property venture, with interest rates at a 22-year high and valuations of basically every property type dropping, but a fresh wave of nontraded REITs has arrived to take advantage of those very same conditions.

EQT Exeter, Invesco Real Estate, Sculptor Capital Management, ExchangeRight and BentallGreenOak all filed with the Securities and Exchange Commission within the last two months to launch nontraded REITs.

Investors Looking To Seize On Depressed Property Valuations Create New Crop Of REITs

“Firms that are launching today are taking the long view,” Institute for Portfolio Alternatives CEO and President Anya Coverman said, speaking generally about nontraded REITs. “That's what real estate investors do — they're not looking to time the market based on a cycle.”Many of these firms are swooping in now because…

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Nightingale Sent $3M Of CrowdStreet Investor Funds To Loan Servicing Firm, Filings Show

An Atlanta-based loan servicing and investment advisory firm received more than $3M of the funds Nightingale Properties raised, then allegedly misappropriated, from CrowdStreet investors in its bid to renovate a Miami Beach office building.

Nightingale Sent $3M Of CrowdStreet Investor Funds To Loan Servicing Firm, Filings Show

Trimont Real Estate Advisors received $3.02M across a series of four payments between Nov. 23, 2022, and March 20, 2023, from ONH 1601 CS Investors LLC, the entity Nightingale created to raise equity for the project on CrowdStreet, according to a schedule of assets and liabilities filed in the U.S.…

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Latest Earnings Show ‘A Tsunami Of AI Demand’ Hitting Data Centers

Artificial intelligence continues to boost data center demand in what could end up being a record leasing year for the sector.

Latest Earnings Show ‘A Tsunami Of AI Demand’ Hitting Data Centers

The second quarter saw hyperscale giants like Microsoft and Google continue their massive investments in data centers to support AI, driving a streak of massive lease deals that may just be a preview of what’s to come.But even as the…

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