J.P. Morgan Global Real Estate Daily News and Research Summary

Research evidence excerpt

J.P. Morgan Global Real Estate Daily News and Research Summary

operty last traded in 2018 for $104

Karl Chan

million. Link to the article (subscription required).

(852) 2800-8513

• Elme Communities has withdrawn its payout estimate for shareholders after a karl.chan@jpmorgan.com

deal to sell its largest remaining property collapsed, Bisnow reported. Elme J.P.MorganMorganBrokingSecurities(Hong (AsiaKong)Pacific)LimitedLimited/ J.P.

disclosed that a subsidiary of Beitel Group on June 17 terminated an agreement

Vanessa M Guy

to buy Riverside Apartments, a 1,222-unit community in Alexandria, Virginia, (44-20) 7742-4521

for $280 million. Link to the article. vanessa.guy@jpmorgan.com

• BXP has announced a long-term lease agreement with Boston Dynamics for J.P. Morgan Securities plc

approximately 320,000 sf at Reservoir Place in Waltham, Massachusetts. The Ryota Himeno

company intends to invest approximately $100 million in the development of (81-3) 6736-8639

ryota.himeno@jpmorgan.com

a state-of-the-art robotics and AI center at Reservoir Place. The company JPMorgan Securities Japan Co., Ltd.

expects to relocate to Reservoir Place in phases beginning in mid-2027. Link Terence M Khi

to the press release. (65) 6882-1518

• Law firm Alston & Bird has leased 170,000 sf of office space at 51 W. 52nd St. terence.ml.khi@jpmorgan.comJ.P. Morgan Securities Singapore Private Limited/

in New York City, from landlord Harbor Group International, as reported by J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

Crain’s New York. The lease is for 15 years with an asking rent of $120/sf. The Morgan Broking (Hong Kong) Limited

law firm is expected to relocate to the new space in 2028. Link to the article Mervin Song, CFA

(subscription required). (65) 6882-7829

mervin.song@jpmorgan.com