Original Northeast commercial real estate news & events for New York, New Jersey, Boston, Philadelphia, and other northeastern US states, plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
“Kevin is a respected and proven leader with deep experience in building long-term institutional relationships in the real assets market,” says CenterSquare's Todd Briddell.
"This acquisition continues the expansion of our nationwide industrial portfolio, which seeks to secure strong, income-oriented returns at this mature stage of the current real estate cycle,” says Brodie Ruland, ASB senior vice president and Northeast region head.
“The property's durable cash flow and attractive yield were a highly compelling investment proposition for the buyer's first US acquisition,” says NKF's Kevin Welsh, whose team brokered the sale.
GM also notes that in addition to the previously announced closure of its assembly plant in Gunsan, Korea, GM will cease operations at two additional plants outside North America by the end of 2019.
Lenders are acting much differently at this stage of the cycle than they were in the last cycle, when loanterms became ever-more aggressive until the market collapsed.