A Dupont Circle office-to-residential conversion has started construction after it closed on its debt financing last week. 

Abrams Realty & Development has grand plans to fuse the best of suburbia and city life in its mixed-use redevelopment of the ailing Exton Square Mall.
But designs remain in flux as the company attempts to address concerns from nearby residents, some of whom are skeptical about traffic and a loss of green space.
Owner Peter Abrams finalized his almost $34.3M purchase of the 52-year-old Chester County mall property from PREIT last month, but he told Bisnow the design phase began a full year ago. Now, it is threading the needle to ensure the project moves forward.
“It’s almost like you’re searching for the holy grail,” the developer said of his quest for a…

The Trump administration’s tariff whiplash appears to be having a negative impact on the U.S. construction industry’s financial outlook, and 1 in 5 builders say the levies are already delaying projects.
Eight in 10 have been notified of materials price increases.

KKR has increased its exposure to the UK build-to-rent market by acquiring Legal & General’s The Slate Yard portfolio of three BTR multifamily buildings in Manchester for more than £100M.
The Manchester portfolio consists of 424 residential units across three properties totalling 270K SF. Amenities include a gym, resident lounges and coworking spaces.
The portfolio was acquired with Inhabeo, KKR Real Estate’s living sector platform in Europe, which was founded in 2023.
In January 2024, KKR acquired two BTR multifamily buildings from Quintain at Wembley Park for an undisclosed sum. The buildings, Alameda and Beton, were completed in 2019 and 2020, respectively, and totalled 490 units and circa…

A Trump family ally and investment banker was appointed to the Fannie Mae board on Monday. 
Omeed Malik, the founder of investment firm 1789 Capital — where Donald Trump Jr. works — was added to the board by Federal Housing Finance Agency head Bill Pulte, he announced in a post to social media platform X. 
“Under President Trump, housing will enter its Golden Age. To have the best and brightest, Omeed Malik will be joining the Board of Fannie Mae, effectively immediately!” Pulte said. “Omeed brings great capital markets, legal and investment experience as we Make Fannie and Freddie Great Again!”

Mere hours before President Donald Trump announced a 90-day partial pause on sweeping reciprocal tariffs that rocked commercial real estate, CRE pros were reluctant to speak their name, referring to the levies only as the “T word.” 
But the economic uncertainty tariffs have helped contribute to was clearly on the table at Bisnow’s Chicago Construction & Development event last week as panelists leaned into the benefit of collaboration throughout the development process to navigate a landscape that’s getting trickier all the time.

Lowe’s is beefing up its hub for homebuilders and property managers, spending more than $1.3B to acquire Artisan Design Group from private equity firm The Sterling Group. 

A New York-based lender has taken back the keys to 2000 RiverEdge Place at a 70% drop in value from the original loan.

The U.S. data center market is slated for massive expansion, with investment volume predicted to reach $1T by 2030. 
Driven by increased data consumption and advancements in artificial intelligence, some of the world’s largest technology companies, such as Meta and Google, are making waves in the space — unveiling plans to construct billions of dollars worth of data centers across the country to keep pace with demand.  
Data centers haven’t only caught the attention of tech gurus, however. Commercial real estate professionals are also highly optimistic about the sector’s future. 
Worldwide, there are more than 50 real estate funds actively looking to invest in data…

The United States ended 2024 with 1,354 fewer retail bank branches than when the year began. The closures are a return to a longstanding trend of banks shrinking their footprints after a pause in 2023. 
Banks have long been a staple tenant for strip centers and freestanding retail pads near larger shopping hubs. With plentiful parking and dedicated drive-thrus, both types of retail real estate are coveted, making vacated banks a prime opportunity for tenants and landlords alike.
“The constraint on supply has propped up rents, in some cases higher than they should be,” said Terrison Quinn, managing principal for Southern California at SRS Real…