TCN netWORKING: TCN Worldwide Deals, Industry News and Weekly Highlights

Congratulations! Bradford Allen Realty/TCN Worldwide in Chicago has completed an assignment with Starboard Commercial Real Estate/TCN Worldwide in San Francisco.

Ben Azulay at Bradford Allen Realty/TCN Worldwide initiated the tenant representation assignment and worked with Robert Menendez at Starboard Commercial/TCN Worldwide to complete this transaction.

What Institutional Investors Are Targeting in Current CRE Allocations

Wealth Management Real Estate: Institutional investors favor multifamily and industrial, but they are investing across the spectrum of risk profiles and showing an interest in non-gateway markets and alternative property sectors.

'A Huge Surprise': Multifamily Rent Growth Turns Negative As Demand Drops

Bisnow: Asking rents for apartments dropped in the third quarter for the first time in years, with landlords seeing vacancy rise and demand slow during the typically busy summer leasing season, according to a new report by multifamily tracking firm RealPage.

Meeting the Challenge of Finding Capital at the Right Price

Commercial Real Estate Executive: The Federal Reserve has made history with three interest rate hikes in nine months and one more expected by year-end. Effects on the capital markets were slow but are now emerging more clearly.
 

David Wallach Elected to TCN Worldwide Board of Directors

TCN Update: “We are extremely pleased to announce David Wallach as a TCN Worldwide Board Member, stated Ross Ford. "The individuals that serve on the TCN Board of Directors are among the best and brightest in the industry. This diverse group of experienced professionals, each recognized as a leader in their respective marketplace, reflects the quality of those firms that make up our membership roster. David has contributed to TCN’s ongoing expansion and success as an organization with infectious enthusiasm since first joining the organization in 2011. He has acted in an advisory role, served as a regional vice president, and was elected to the Board of Directors in 2015 where he served for four years. We welcome him back to our Board of Directors and appreciate his ongoing commitment to our organization.”

Norris & Stevens, Inc./TCN Worldwide in Portland Brokers $4.07M Sale in Beaverton, Oregon

Member Deal Announcement: OPI Aloha LLC & RPM Investments out of California recently completed the $4,070,000 purchase of the Oak Square Apartments located at 1970 SW Alexander St in Beaverton, Oregon. Oak Square Apartments was constructed in 1983, and is situated on 1.53 acres of land. The unit mix consists of 21 spacious two-bedroom/two-bath units at approximately 875 square feet, and a three-bedroom/two-bath unit at approximately 1,000 square feet. Todd VanDomelen with Portland-based Norris & Stevens, Inc. represented both the Seller, CFH Limited Partnership, and the Buyer in the transaction.

Unique Properties/TCN Worldwide is Proud to Announce the Sale of 2826 E 3rd Ave, Denver, CO, a 3,960 SF Lot in Cherry Creek North, for $1.9M

Member Deal Announcement: Brett MacDougall, Michael DeSantis, and Hudson Cramer of Unique Properties, Inc./TCN Worldwide, represented both the Buyer and Seller in this transaction. The property is a freestanding multi-tenant retail building in the heart of Cherry Creek North. At the corner of 3rd Ave and Detroit St, the property has prime retail positioning with easy access to all of the amenities that Cherry Creek North has to offer. This was the first time in over 60 years that the property was sold, with it being under ground lease dating back to 1966.