Real Estate Investment

Sun Communities reported strong 2025 results, driven by a 7.9% increase in North American Same Property NOI and strategic acquisitions totaling $457 million. The MH/RV operator also returned over $1.5 billion to shareholders. While full-year Core FFO per share saw a slight dip to $6.68, guidance for 2026 anticipates growth, with Core FFO projected between $6.83-$7.03. Management expressed confidence through an increased quarterly distribution.

Toll Brothers is launching Vintage Grove, a luxury residential community in Fuquay-Varina, NC, featuring 46 single-family homes over 5,100 sq ft, starting at $1 million. The development emphasizes curated living experiences and bespoke design, aligning with the builder’s brand. This expansion targets sustained demand in growth regions, with sales beginning in early 2026.

Cambridge’s Central Square sees a significant multifamily investment with the $53.6 million sale and financing of 929 MASS. Walker & Dunlop Capital Markets facilitated the transaction, with John M. Corcoran & Company and Stars REI acquiring the mixed-use property. JMC secured $37.1 million in Fannie Mae financing. The 127-unit property with commercial space is slated for renovations, capitalizing on Cambridge’s strong market driven by intellectual capital and proximity to major institutions.

OlivePoint Capital and Redwood Capital Management have jointly acquired 3900 Paramount Parkway, a 220,000-square-foot Class A office building in Research Triangle Park, Raleigh-Durham. This strategic acquisition, noted for being fully leased to PPD (a Thermo Fisher Scientific subsidiary) with a corporate guarantee, represents a contrarian move against the current office market sentiment. The deal, reportedly at a discount, aligns with OlivePoint’s data-driven strategy of finding value in market dislocations, emphasizing stable cash flows from a high-credit tenant in a dynamic innovation hub.

Four Corners Property Trust (FCPT) acquired a Heartland Dental property in Oklahoma for $3.3 million at a 6.9% cap rate. The property, located on a high-traffic corridor, is under a corporate-backed triple-net lease with four years remaining and a near-term rent increase. This acquisition reflects FCPT’s focus on stable, income-generating assets with strong tenants in resilient sectors like healthcare. FCPT, a REIT specializing in net-leased restaurant and retail properties, aims to expand its portfolio through strategic acquisitions.

Kennedy Wilson will acquire Toll Brothers’ interests in apartment and student housing assets for $347 million, adding over $5 billion of assets under Kennedy Wilson management. This includes $2.2B AUM through acquired stakes in 18 properties, and $3B AUM through managing 20 properties for Toll Brothers. Kennedy Wilson also gains a pipeline of 29 development sites representing $3.6B in potential capital. The acquisition includes the Toll Brothers Apartment Living management team and establishes a strategic partnership for future deal referrals. The transaction is expected to close in October 2025.

Fetner Properties, MCB Real Estate, and Farallon Capital acquired Brooklyn’s new 240 Willoughby Street, a $209.5 million, 463-unit luxury tower. Featuring mixed-income housing (147 income-restricted units), the building boasts panoramic Fort Greene Park and Manhattan skyline views. Its premium amenities include coworking spaces, a biometric gym, and entertainment suites. Demand is strong with 25% leased since opening, reflecting Brooklyn’s appetite for resort-style urban living. Studios start at $3,200/month, positioning the transit-proximate development competitively.