DAILY READS: March 13, 2020

CIT, BlackRock back 10-property industrial purchase. Oregon allocates $950 million. How do the homeless stay home during virus crisis? Here's a batch of other critical content for you to read, listen to or watch.

CIT, BlackRock Lend $163M for Purchase of National Industrial Portfolio

The floating-rate financing package includes a $134.3 million senior loan from CIT and roughly $29.2 million in mezzanine debt from BlackRock. The debt will cover Arden’s $96 million purchase of 10 assets in the bundle from Avistone and a recapitalization of the entire portfolio. Read more
Commercial Observer

Luxury Seniors Housing Community Planned for Chicago’s North Shore

JLL Capital Markets has arranged construction debt and joint venture equity for the development of Trulee Evanston, a 163-unit luxury seniors housing property in Evanston, Illinois. JLL worked on behalf of the project sponsor, a joint venture between Chicago-based developer Condor Partners and Denver-based seniors housing operator Solera Senior Living, to arrange the debt from a national bank and the equity from an institutional private equity fund manager. Read more

Oregon Allocates $950 Million to Real Assets

Separately, council officials made commitments to three real estate funds: $200 million to Oak Street Real Estate Capital Fund V, an income-producing real estate fund; $150 million to multifamily property fund GID All Weather Fund, managed by GID Investment Advisers; and $100 million to multifamily real estate fund Nuveen U.S. Cities Multifamily Fund. Read more
Pensions & Investments

‘Stay Home?’ 500,000 Homeless Americans Can’t Follow Coronavirus Advice

Real Estate Vet Appointed as Cushman’s Head of Global Occupier Services

Real estate services firm Cushman & Wakefield has appointed commercial real estate veteran Pay Wu as the New York Tri-State Regional Lead for Global Occupier Services. In this new role, Wu is responsible for delivering real estate services connected to client goals and strategies for operational efficiency. Read more