Bisnow

The new sweeping federal housing law is poised to fundamentally change the flow of institutional investment in the residential sector, potentially resulting in a rebound of construction of build-to-rent properties. The 21st Century Road to Housing Act became law on Saturday without President Donald Trump’s backing. Among the provisions, the law largely prohibits large institutional investors from owning more than 350 single-family homes.

Denver’s office market is still recovering from the pandemic, but second-quarter reports indicate it is shifting toward stabilization with positive net absorption. Office tenants took approximately 119,700 SF more than they vacated in Q2, according to Cushman & Wakefield. Last quarter was Denver’s strongest quarterly net absorption since Q1 2022, which had nearly 282K SF of net absorption, according to Cushman & Wakefield data provided to Bisnow.

Twelve attorneys general sued to stop the merger of Paramount and Warner Bros. Discovery, saying the union violates antitrust laws. The AGs have joined forces to block Paramount’s $111B grab for Warner Bros. Discovery, which would destroy competition between the two entities and impact movie theaters, cable distributors and consumers, according to a statement from California AG Rob Bonta's office.

Related Midwest may get a leg up to its development of the Chicago Fire's new stadium at The 78 after city officials announced a proposal to reroute $287M in tax increment financing to help with infrastructure costs at the site. The City Council Finance Committee is set to consider a plan Monday that would rework the site's TIF subsidy to transfer money from a nearby TIF district.

A new 99-year ground lease agreement will bring a massive light industrial project to Phoenix’s Salt River community. Industrial developer Majestic Realty Co. announced last week that it has partnered with the Salt River Pima-Maricopa Indian Community and certain allotted landowners on the 59-acre project, which will feature up to eight Class-A industrial buildings spanning about 1M SF. Financial terms of the deal have not been disclosed.

As the dust settles on one of the biggest Irish agency deals in years, Knight Frank Ireland is looking at expansion. Real estate adviser Knight Frank officially became part of Irish residential giant Sherry FitzGerald in mid-February after the Competition and Consumer Protection Commission gave it the green light for a deal to buy HT Meagher O’Reilly and HT Meagher O’Reilly New Homes, which trade as Knight Frank Ireland.

Philadelphia's Thomas Jefferson University is expanding its medical school in the Lehigh Valley region. The university's Sidney Kimmel Medical College plans to build a new 54K SF academic facility in downtown Allentown, it announced Monday. The school aims to open the campus in 2029 with an inaugural class of 45 students. It will offer the same curriculum as its Philadelphia campus, and students will complete clinical training at hospitals and outpatient facilities in the Lehigh Valley region.

Brookfield is in talks to take a 10% stake in Hudson Square Properties, a 13-building office complex on the West Side of Manhattan. The deal would value the 6.2M SF campus, which is positioning itself as a nucleus for tech and media tenants in the city, at $3.5B, The Wall Street Journal reported, citing anonymous sources.

Social media giant Meta has expanded its already massive data center development in Richland Parish, Louisiana. The company announced Monday that its Hyperion data center campus will have 5 gigawatts of computing capacity and bring more than $50B of investment to the region. That is up from the original $10B plan for the project, the largest artificial intelligence data center cluster in Meta's pipeline and one of the biggest in the world.

Two developers added to their growing waterfront assemblage on Collins Avenue in Miami Beach. The Kolter Group and BH Group spent nearly $18M purchasing commercial and residential condos inside of neighboring buildings near the Normandy Plaza Hotel, which they purchased earlier this year, according to property records provided by Vizzda. The pair purchased 10 units out of a 172-unit condo tower at 6969 Collins Ave. for $3.7M. The 55-year-old Port Royale Condo had previously faced safety concerns.