Cap Rates Disconnect and a $947M Loan for Largest West Coast Apartment Community

Cap Rates Disconnect and a $947M Loan for Largest West Coast Apartment Community This week, the divergence between private market and public assumptions around commercial real estate values is explored in a new report; Bank OZK provides $72 million Long Island construction loan; and Rachel Loeb joins Benenson Capital Report: Private Market Lags Public REITs in CRE Cap Rate Metrics A new private equity report found sharp divergences between REIT implied cap rate metrics and private market forward-outlook cap rates. [Read More](   Top Deals Of The Week   - Prime Secures [$947M]( Loan for Massive Park La Brea Community in Los Angeles - Wildflower, Barings [Land]( $72M Construction Loan for Long Island Industrial Project - $61M [Construction Loan]( Brings New Multifamily to Hyattsville, Md. - Berkadia Provides $41M Recap for [Orlando]( Mixed-Use High-Rise     Q & A   Sandy Sigal On Retail’s Resiliency and the Data Boom for Shopping Centers Sandy Sigal, founder and CEO of retail landlord and developer NewMark Merrill, spoke candidly about the largest market challenges along with new opportunities for retailers and investors. [Read More](   People Moves   Former NYCEDC Head Rachel Loeb Joins Benenson Capital Partners as CIO Rachel Loeb, former president and CEO of the New York City Economic Development Corporation, was named the new chief investment officer of Benenson Capital Partners. [Read More](   Other Stories From This Week   Cloudy Outlook: CMBS Distress and Low Deal Volume Create CRE Pessimism Yardi Matrix found that 2023 industry transaction activity has dropped, while the cost of fixed-rate and floating-rate debt has skyrocketed. [Read More]( How Sam Chandan Became the Go-To Economist for CRE’s Elite The New York University academic — with a recent degree in epidemiology to boot — has also cut a trail for LGBTQ professionals in the field as well as newcomers. [Read More]( Why the Prices of NYC Office and Rent-Stabilized Apartment Buildings Are Tumbling As interest rates continue to rise, certain properties are trading at big discounts on New York City’s investment sales market: namely older office buildings and rent-stabilized residential buildings. [Read More]( Armada Seeks Private REIT Strategies With New ETF Armada ETF Advisors launched a new exchange-traded fund geared toward targeting the most successful private REITs in the public markets. [Read More]( CMBS Auctions Provide Distressed Asset Pricing Guidance in 2023 First Half Properties and mortgage notes securing nearly $600 million in outstanding CMBS debt were auctioned from January through mid-June 2023, based on CRED iQ’s observations of impending losses for investors. [Read More](     What We're Reading This Week   - The ‘Extend and Pretend’ [real estate strategy]( is running out of time [Bloomberg] - Fort Worth’s commercial real estate market Is suddenly [booming]( [WSJ] - Fed chief Powell says more ‘restriction’ is coming, including possibility of rate [hikes]( at consecutive meetings [CNBC]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Commercial Observer]( © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 06/29/2023