Capital Markets

Carr Properties has completed a $300 million convertible debt investment with Israeli insurer Clal while Almanac Realty has committed up to $400 million to Merritt Properties.

“Construction of new property continues as firms look for higher returns, putting into question levels of new supply as economic uncertainty remains,” according to Morningstar's forecast for the REIT sector. 

The agreement caps a year-long strategic review following the death of Courtland Partners founder Michael Humphrey. StepStone's Jeff Giller says the intention is “to honor Michael's legacy” of high standards and fiduciary orientation.

The addition of the RPR Partners team “reflects our commitment to growing strategic areas with unmatched knowledge to meet each of our clients' needs,” says Ernst & Young vice chair Kate Barton.

Marijuana may be legalized, but the challenges navigating a new industry are tremendous.

CEO Maury Tognarelli calls the ownership consolidation “indicative of the confidence we have in ourselves and further aligns our interests with those of our clients.”

The industry veteran has 25 years' experience with TIAA, where he led a team responsible for all equity and debt real estate activity.

Yet CBRE reports that foreign investment accounted for 42% of Washington DC's total office investment in 2017, with most of the capital coming from Japan, Norway and Canada.