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Here is what your fellow Columbia Business School Real Estate Alumni have been doing recently. If you don’t see your news mentioned, please let us know.

Congratulations to the following alumni named in Commercial Observer’s 2021 list:

• #2: Gina Baker Chambers ’09
• #20: Michael Tillman ’11 & Scott Meyer ’14

Commercial Observer ➞

“When an organization embraces diverse perspectives and reflects a just, inclusive community, we all benefit,” said Ines Leung, Head of Capital Markets & Investor Relations. “At Sundance Bay, we believe that prioritizing DEI leads to better business outcomes and contributes to a society that empowers people to be their best, authentic selves. Today marks an important milestone in Sundance Bay’s ongoing efforts to promote and advocate for progress and equity at our Firm and in our communities.”

Sundance Bay press release ➞

“Our experience creating one-of-a-kind rental housing options ensures that NorthLight at Edge-on-Hudson will become the most sought-after lifestyle community for renters seeking an amazing waterfront setting combined with convenient access to New York City,” said Tommy Craig, senior managing director, Hines. “Hines’ renewed commitment to raising the bar for multifamily housing in the Northeast region is coming together as NorthLight nears completion and our rental project in New Haven, The Whit Wooster Square progresses. It’s incredibly satisfying to see Hines increase its footprint in this part of the country as we continue expanding Hines’ portfolio into the future.”

River Journal ➞

Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, wants to unload 40 to 50 according to Chief Executive Officer Andrea Olshan. Seritage has generated approximately $1.2 billion from sales of its property since 2015, according to its most recent quarterly filing.  Olshan said she expects strong interest in the next sites offered for sale. “The sales market’s robust in terms of demand,” she said. “And lately there hasn’t been a lot on the market.”

Fortune ➞

Rubin “Rubie” Schron’s Cammeby’s International Group and Harbor Group International are in contract to purchase a roughly $1 billion New Jersey multifamily portfolio, sources told Commercial Observer. An Eastdil Secured team of Will Silverman, Gary Phillips and Jeff Organisciak is arranging the portfolio sale.

Commercial Observer ➞

Northwood Investors has secured $227 million in acquisition financing for its purchase of two adjacent buildings at 520 and 524 Broadway in SoHo, Commercial Observer has learned. Ares Commercial Real Estate provided the floating-rate loan, while Gideon Gil, Steve Kohn, Alex Hernandez and Lauren Kaufman of Cushman & Wakefield’s equity, debt and structured finance team negotiated the debt on behalf of Northwood, sources said.

Commercial Observer ➞

Co-founder Aarons said the pandemic has accelerated the demand for proptech as companies are coming back to the office. “Real estate practitioners have changed the way they value technology and innovation,” he added in a statement. “What was previously a ‘nice-to-have’ has turned into a ‘must-have.’”

The Real Deal ➞

CWCapital and Kenai Capital Advisors also acquired the Compark Business Park, a 263,734-square-foot industrial portfolio in Englewood for $41 million in January of 2020. “We are committed to expanding our investment footprint throughout the Denver market and this acquisition makes a great addition to our portfolio” commented Regina Lubin of CWCapital.

Mile High CRE ➞

Though Manhattan will remain the region’s greatest draw, the coronavirus pandemic has changed its relationship with surrounding areas. For example, Remy Raisner pointed out that the pandemic has been great for the growth of emerging Brooklyn neighborhoods, where his private equity firm The Raisner Group has apartment and commercial buildings. He expects that trend to continue. People are moving there because they value having more space at home, especially if they plan to continue working from home, even partially, he said. And while that may mean commuting less, Remy suggests that people may be willing to commute longer distances when they do. But strong public transportation will remain key. “You want to have a world class trip to the center of Manhattan. It's still the center of the world, the economic capital of the world,” Raisner said. “What benefits the city benefits everyone.”

SmartBrief ➞

“We wanted to do a big solar install, and at the same time, others were talking about Wi-Fi,” says John Crotty, principal at the Workforce Housing Group, the affordable housing development organization that is launching the new program in Crown Heights and in the nearby neighborhoods of Bedford-Stuyvesant and East New York. “I thought, Why don’t we put the savings into Wi-FI?”

Fast Company ➞

“The acquisition of Upsuite was in response to the changing office space market in 2020,” said SquareFoot Founder and CEO Jonathan Wasserstrum. “Upsuite will serve tenants looking for office lease flexibility, smaller private spaces or coworking options that, when combined with our additional solutions through PivotDesk and FLEX, will position SquareFoot as a market leader for office space flexibility.”

PR Newswire ➞

In this series, called “How To Successfully Ride The Emotional Highs & Lows Of Being An Entrepreneur” we are talking to successful entrepreneurs who can share stories from their experience. I had the pleasure of interviewing Jonathan Wasserstrum. SquareFoot Founder and CEO Jonathan Wasserstrum, who hails from Houston, has worked for over a decade in commercial real estate. He began his career at industry leader Jones Lang LaSalle (JLL) as part of the International Capital Group, where he advised foreign and domestic clients on more than $3B worth of transactions globally. Outside of work, Jonathan is interested in the three Bs—bourbon, buffalo wings, and brass bands.

Thrive Global ➞

“The full reopening of our portfolio is a major milestone for the company. Despite the complexity and uncertainty of the current environment, the sales recovery is very encouraging and once again shows the company’s resilience and agility, and the brands’ commitment to continue growing with us”, says Daniel Losantos, CEO of NEINVER. “A strong investment in digital services and close cooperation with tenants, along with our centres’ attractiveness to consumers, have successfully mitigated the pandemic’s impact on our industry.” 

Property Funds World ➞

“We are thrilled that The Legal Aid Society is consolidating its Lower Manhattan offices with us which will create a single location and thereby, make it easier for its staff and clients to execute their mission,” said Brian Steinwurtzel, Co-CEO and Principal of GFP Real Estate, LLC.

Real Estate Weekly ➞

A key draw of the office coming out of the pandemic is providing more chances to come together and collaborate, GFP Real Estate co-CEO and principal Brian Steinwurtzel said. So, landlords are increasing the number of conference rooms to prepare for the new normal. “I think when employers are anticipating coming into the office, it's because they have meetings, or need to collaborate and that they'll need more meeting spaces—small, medium or large—to actually do that collaboration,” he said.

Bisnow ➞

Lantern Real Estate has secured a $24.2 million loan for the acquisition of The Mariner, a best-in-class, LEED-Silver certified, 100-unit residential property located at 21 Willett Ave. in Westchester County. The loan was closed by Tal Bar-Or, David Strongwater of Lantern Real Estate, with Harris Brown, a Lantern associate. The Mariner’s new and prior owners were not disclosed. “Blackstone showed a solid commitment to this financing,” said Strongwater, a partner with the company, “This was evidenced by the thoughtful execution and quick closing. Additionally, we believe this marks the beginning of a great, long-term relationship for our client.”

New York Real Estate Journal ➞

On this week’s episode [host Peter Davis talks] with David S. Rose, a serial entrepreneur whose current venture is US Real Estate Market, also known as USREM. US Real Estate Market is a startup developing a capital markets platform for fractional institutional investment in commercial real estate.

Innovator with Mark Peter Davis ➞

On this week’s show [host James Nelson] welcomes a very special guest in David S. Rose: author, investor, keynote speaker, founder of over 100 companies, and most recently, co-founding the US Real Estate Market. David shares what it was like growing up in such an all-inclusive real estate family and how that helped mold him into where he is today. David also shares some of his endeavors, how he landed upon them, and some advice he can give along the way. Finally, David shares his latest adventure, the US Real Estate Market, which he co-founded and is now the CEO.

Voice of America: Real Estate Investing Live from New York ➞

The real estate entrepreneur shares lessons for how to lead a team while pursuing aggressive growth.

Inc.com ➞

“We may not be able to survive this,” remarked Robert Reffkin, founder and CEO of real estate platform Compass, after pandemic lockdown rules essentially outlawed U.S. home selling. Yet today the housing market is booming, and Compass has successfully IPO’ed. Reffkin shares how he kept his team together, why he stayed optimistic, and what businesses lucky enough to have benefited from Covid times owe their communities. He also shares insights on housing prices—after correctly predicting last year that summer 2020 would be the most successful in the history of the real estate market—and on the future of big cities. It’s a house tour worth taking.

Masters of Scale: Rapid Response ➞