trending Market Intelligence /marketintelligence/en/news-insights/trending/M9iurUPlCH9Px3vZ6B7w_w2 content esgSubNav
In This List

Apartment complex sale sets price record in Denver; $1B housing fund in works


Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends


Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends


Understanding Loss Given Default A Review of Three Approaches


Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Apartment complex sale sets price record in Denver; $1B housing fund in works

Commercial real estate

* A 1,523-unit apartment complex in eastern Denver sold for a record price of nearly $350 million, the Denver Business Journal reported, citing public records. The deal price marks the largest apartment trade in Colorado's history, the report noted.

Pensam Residential, BH Equities LLC and Wafra Capital Partners acquired a majority stake in the 190-acre complex, which comprises six "villages" and a 26,000-square-foot recreation center. The Bascom Group and Koelbel & Co. are the sellers, and they retained an 18-acre development parcel of land, the report said.

* Fitch Ratings said Communications Sales & Leasing Inc.'s issuer default ratings and security ratings are not affected by the company's announcement that it will reorganize into an umbrella partnership real estate investment trust, or up-REIT, structure.

Moody's also said the proposed structure does not immediately impact the company's ratings.

* Dallas Area Rapid Transit is seeking development partners to build on 11 acres of parking lots at Dallas' Mockingbird Station mixed-used center, The Dallas Morning News reported. The area is zoned for high-density apartment, office, retail and hotel development, the report noted.

* The office vacancy rate in Los Angeles County slipped to 13.9% in the third quarter from 14% in the second quarter, the Los Angeles Times reported, citing CBRE Group Inc.

* Miami Herald reported on developers' preparations for a possible landfall of Hurricane Matthew. The South Florida region has 117 condo towers under construction, the report noted, citing data from

After the bell

* Ventas Inc.-backed hospital operator Ardent Health Services agreed to acquire LHP Hospital Group Inc. for undisclosed terms. The deal calls for Ardent to assume LHP's management and operational obligations within five acute care hospitals in Florida, Idaho, New Jersey and Texas that the latter operates with joint venture partners.

* Tanger Factory Outlet Centers Inc.'s operating partnership priced an underwritten public offering of an additional $100 million of its 3.125% senior notes due 2026 for estimated net proceeds of roughly $97.8 million.


* Pretium Partners LLC is believed to be raising $1 billion to buy single-family homes to rent out, The Wall Street Journal reported, citing fundraising documents. The company was co-founded by Donald Mullen Jr., who is a former head of Goldman Sachs Group Inc.'s mortgage and credit business.


* Nevada Gov. Brian Sandoval has called a special legislative session in the upcoming week where the main agenda will be a measure to raise room taxes in Clark County to finance $750 million of the proposed $1.9 billion domed stadium in Las Vegas, the Las Vegas Review-Journal reported. The project is backed by Las Vegas Sands Corp.

Also on the agenda will be an additional room tax hike to fund a $1.4 billion upgrade of the Las Vegas Convention Center.

* Moody's said the momentum of ratings upgrades in the gaming sector is slowing down after a year of improving credit profiles. The rating agency upgraded 35% of its 37 rated U.S-based gaming companies in the past 12 months.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng rose 0.69% to 23,952.50, and the Nikkei 225 was up 0.47% to 16,899.10.

In Europe as of midday, the FTSE 100 was down 0.13% to 7,023.83, and the Euronext 100 had declined 0.35% to 884.03.

On the macro front

The jobless claims report, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.

Now featured on S&P Global Market Intelligence

Data Dispatch: 106 North American real estate companies increase dividends through Q3: During the two-week period between Sept. 17 and Sept. 30, W.P. Carey was the sole SNL-covered North American real estate company to announce an increase to its dividend.

The Daily Dose is updated as of 7:30 a.m. ET. Some external links may require a subscription. Articles and links are correct as of publication time.