A CBRE Capital Markets team arranged CMBS and mezzanine financing for the 97-property net lease portfolio spread across 20 states, which Stonemont acquired from Oak Street Real Estate Capital.
A Bannockburn, IL office property long-term leased to Shire, part of the 6.8-million-square-foot portfolio Oak Street sold to Stonemont.ATLANTA—Stonemont Financial Group said Friday it had acquired a net lease portfolio from Chicago-based Oak Street Real Estate Capital for $1.3 billion. The deal, Stonemont’s largest to date, was reported by the Wall Street Journal earlier this week.
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
Rand Stephens says ridership is declining in both rail and bus services across the country because of lower gas prices, increased telecommuting, rising car ownership and of course, ridesharing with UBER and Lyft.
Well-located infill warehouse space close to major markets such as those in the East Bay is crucial to speedy delivery but is becoming increasingly scarce due to e-commerce demands and constrained supply.
Steven Hash will serve as independent chairman of the board while the company hires a new CEO.
Event Coverage
Panelists at yesterday's Multifamily Forum agreed Chicago was in a good position to withstand any upcoming correction.
