Lincoln Property Co. acquired student housing specialist Capstone Development Partners on Monday.
The deal, which also encompasses Capstone Management Partners, enhances Lincoln’s abilities to develop, finance and operate on-campus and university-affiliated housing, the company said in a press release. Capstone will operate as Capstone Development Partners, powered by Lincoln.
A spokesperson for Lincoln declined to disclose the terms of the deal.
Capstone Chief Development Officer William Davis will serve as managing principal. Capstone co-founders Bruce McKee and Jeff Jones will continue in their leadership roles at the company.
Capstone has partnered with over 70 public and private colleges and universities across the country since 1997. It has delivered more than 50,000 on-campus and university-affiliated beds of student housing nationwide.
Lincoln’s combined management and leasing…
Rexford Industrial Realty has named a new CEO for the first time since it became a REIT and launched a portfolio recalibration following discussions with an activist investor.
The central bank’s decision to lower interest rates last month was more divisive than it first appeared as officials splintered over how to weigh a weakening labor market against rising inflation.
Developers on Tuesday laid out the “contours of a plan” for seven remaining sites at Pacific Park in Brooklyn, describing a development that would add thousands of housing units to what was previously approved. During a public workshop, executives from Cirrus Real Estate Partners and LCOR, the project’s new development team, pitched a plan that would result in taller, but fewer towers, and ultimately net 9,000 housing units for the megadevelopment (including those already built). The previous plan called for a total of 6,430 units. If this version is pursued, the development would include five towers, instead of six, on […]
This article originally appeared on The Real Deal. Click here to read the full story.
Surveys were delayed and some cannot be collected at all, officials said, further complicating the Federal Reserve’s decision on interest rates next month.
Greystar, one of the country’s largest apartment operators, reached a settlement with nine states to resolve allegations that it was part of a rent-fixing cartel.
The deal would remove Greystar from a sprawling list of landlords being sued by state attorneys general over their use of software from RealPage, which was also targeted in the case. Greystar would pay a $7M fine as part of the deal and agree to limitations on what information it can use to set rents.
Greystar would continue to deny any wrongdoing and deny any antitrust violations. The deal still needs final court approval.
A billionaire entrepreneur is the buyer of a newly constructed mansion in Bridgehampton. Co-owner of the Boston Celtics Wyc Grousbeck and his wife, Emilia Fazzalari, dropped $58 million on the oceanfront home at 165 Surfside Drive, the New York Post first reported. The eight-bedroom estate was built last year by developer Joe Farrell. The 1.24-acre property initially asked just under $80 million when it hit the market in April 2024. Farrell slashed the asking price by $10 million last October. Grousbeck’s new abode spans 8,600 square feet and has eight bathrooms and a 4,400-square-foot rooftop terrace with a putting green. […]
This article originally appeared on The Real Deal. Click here to read the full story.
The central bank’s decision to lower interest rates last month was more divisive than it first appeared as officials splintered over how to weigh a weakening labor market against rising inflation.
While TF Cornerstone is working out the conversion of 135 East 57th Street on Billionaires’ Row, it will have Chelsea Piers Fitness to work out the customers below. The gym operator signed a 47,000-square-foot lease for the ground-floor retail space at Charles Cohen’s former building in Midtown, the Commercial Observer reported. Details of the lease were not disclosed, but the average asking rent for retail space on Madison Avenue between 57th to 72nd Streets in the third quarter was $837 per square foot, according to CBRE. The lease was first reported by the New York Post. TFC signed a ground […]
This article originally appeared on The Real Deal. Click here to read the full story.
Comras Co., led by Michael Comras, is expanding its imprint on Miami Beach’s famed shopping corridor.