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

J P M O R G A N North America Equity Research

28 July 2026

J.P. Morgan Global Real Estate

Daily News and Research Summary

Americas REITs & Real Estate Services

Anthony Paolone, CFA AC

• DivcoWest has closed on a 47.5% stake in San Francisco’s 101 California (1-212) 622-6682

Street from Hong Kong Monetary Authority for around $450 million ($775/sf), anthony.paolone@jpmorgan.com

as reported by The Registry. The trade values the 1.26 million sf tower at J.P. Morgan Securities LLC

roughly $975 million. The sale reflects a decline of roughly one-third from the Michael W. Mueller, CFA AC

building’s $1.47 billion appraisal during a 2019 refinancing. Link to the article (1-212) 622-6689

(subscription required). michael.w.mueller@jpmorgan.com

J.P. Morgan Securities LLC

• FPA Multifamily is now under contract to buy the 1,222-unit Riverside Adrian E Huerta

Apartments in Fairfax County, Virginia, from Elme Communities for $250 (52-81) 8152-8720

million ($205K/unit), the Washington Business Journal reported. FPA is adrian.huerta@jpmorgan.com

paying $30 million less than the $280 million Beitel Group agreed to pay in J.P. Morgan Casa de Bolsa, S.A. de C.V., J.P.

Morgan Grupo Financiero

May before terminating the deal. Link to the article (subscription required).

Richard Jones, CFA

• Korman Communities has acquired BlackRock’s majority stake in the three (61-3) 9633-4038

extended-stay hotels in Midtown Manhattan, in a deal valued at $220 million, richard.b.jones@jpmorgan.com

as reported by The Real Deal. The deal values the portfolio at slightly more than J.P. Morgan Securities Australia Limited

$680K/key. Korman had owned a minority piece of the 322-key package that Neil Green, CFA