Related purchased the site last year for more than $600M. The final cost of the project is expected to exceed $1B.
Commercial properties took price haircuts across the U.S. at the end of 2025, according to MSCI. The yearlong drop was sharpest in Boston.
The Toronto-based investor acquired its first U.S. retail properties in Texas through a joint venture with Chicago-based Pine Tree.
CRE transactions reached their highest level since 2005, with BlackRock's acquisition of Aligned Data Centers driving activity.
The risk of flooding for CRE is rising, but not many places face similar threats.
Deals fall apart, the central bank cannot hold interest rates low forever
Once a top spender on American CRE, Chinese investors are fleeing the market as worsening economic conditions chip away at property values.
In 2017, Chinese investors funneled $40B into overseas real estate. Five years later, many of their investments have collapsed.
Investment sales volume has taken a hit, but probably not a big one.
Industrial and apartment asset prices still on the upswing, despite economic drama.
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