Commercial real estate
* A subsidiary of Blackstone Group LP bought the Kalaeloa Rental Homes former military apartments portfolio in West Oahu, Hawaii, for $211.5 million, Pacific Business News reported, citing public records. The 520 units were sold by Rockpoint Group. The portfolio previously changed hands for $154.5 million in 2015.
* WeWork Cos. Inc. agreed to occupy approximately 212,387 square feet at RXR Realty LLC's 620 Sixth Ave. property in New York City, the New York Post reported.
The coworking giant is also said to be in talks with JPMorgan Chase & Co. and other banks for a $2.75 billion credit line ahead of a planned IPO of its parent, Bloomberg News reported, citing people familiar with the matter.
* The developers of the One Thousand Museum skyscraper in downtown Miami are seeking a $331 million condominium inventory loan and have tapped Lotus Capital Partners for the purpose, The Real Deal reported. The 62-story, 84-unit project at 1000 Biscayne Blvd. is expected to commence closings in July.
* American Landmark acquired the 448-unit Alister Boca Raton apartment complex in Boca Raton, Fla., for $91.5 million, The Real Deal reported, citing a release. The property at 10235 Boca Entrada Blvd. was sold by a joint venture between Mill Creek Residential and AIG, which bought it for $70.9 million in 2016.
* Netherlands-based SnowWorld International BV and McLean, Va.-based Alpine-X LLC jointly filed plans to build an indoor ski slope on a 489-acre county-owned landfill in Lorton, Va., the Washington Business Journal reported. The project would be developed via a public-private partnership and will be privately built and funded. The proposal calls for a facility of up to 500,000 square feet with a 1,500-foot ski slope along with other features including a hotel with more than 100 rooms.
* Gattuso Development Partners leased 136,000 square feet to Iovance Biotherapeutics Inc. at its planned $125 million project at 300 Rouse Blvd. at the Philadelphia Navy Yard, the Philadelphia Business Journal reported. The project is slated for completion in 2021.
* An Avra Jain-led development group is planning a mixed-use development with a hotel, office space and condos, among other uses, at 555 River House in Miami, the South Florida Business Journal reported. The 12-story project is slated to go before the Miami River Commission June 3. It will have 175 hotel rooms, 120,000 square feet of office space, 39 condo units, 35,650 square feet of commercial space and a 416-space parking garage.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng lost 0.44% to 27,114.88, while the Nikkei 225 dropped 0.29% to 20,942.53.
In Europe, around midday, the FTSE 100 rose 0.51% to 7,221.79, and the Euronext 100 was up 0.47% to 1,027.79.
On the macro front
The GDP report, the international trade in goods report, the jobless claims report, the corporate profits report, the retail inventories [Advance] report, the wholesale inventories [Advance] report, the pending home sales index, the EIA natural gas report, the EIA petroleum status report, the Fed balance sheet and the money supply report are due out today.
The Daily Dose has an editorial deadline of 7 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.