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The purchase marks KREST's first acquisition of core healthcare real estate assets.
Year-end average rent is now expected to be $999.
Given that the parties have been calling the building the "office of the future," the price is significant.
A new survey shows that 92% of CRE firms globally have programs or initiatives to improve DEI.
Bluerock will be spinning off its single-family rental business prior to the acquisition.
At the same time it is reportedly negotiating to buy a stake in One Manhattan West.
GFP Real Estate and Northwind Group are selling the full-block property at 100 Pearl St.
Finally writing up that troubled debt restructuring document could mean having to recognize that assets aren't worth what they once were.
Meanwhile, net absorption of retail space last quarter totaled 30.2 million square feet, hitting the highest level since Q4 2017.
Meanwhile, growth in PE investment in healthcare has been steadily outpacing the wider sector for years.