Investment Rating - The report indicates a stable outlook for the Brisbane industrial market, with prime yields remaining stable and a slight firming observed in secondary yields [9][17][26]. Core Insights - Industrial turnover in Q1 was recorded at $277 million, a decrease from $539 million in Q4, reflecting a return to levels seen earlier in 2023 [9]. - The largest transaction in Q1 was the sale of a multi-warehouse estate at 14 Dixon Street, Yatala, for $102.50 million, reflecting a core market yield of 6.35% [9]. - Vacancy rates increased by 21% in Q1, attributed mainly to new developments and lower leasing take-up, resulting in a total vacancy of 782,562 sqm [10][16]. - Prime net rents showed modest growth, with an increase to $160/sqm net, while secondary rents also saw a rise [22][31]. - Land values continued to appreciate, with sites under 5,000 sqm increasing by 32% year-on-year to $766/sqm [22][46]. Summary by Sections Industrial Market Overview - The Brisbane industrial market experienced a decline in turnover, with Q1 figures reflecting a significant drop compared to Q4 [9]. - Yields remained stable, with prime yields at 6.10% and secondary yields tightening by 64bps year-on-year [9][17]. Vacancy and Leasing Activity - Total vacancy increased to 782,562 sqm, with a vacancy rate of 5.2%, up from 4.3% in Q4-24 [16]. - Leasing activity was down 22% quarter-on-quarter, with a total take-up of 159,483 sqm [16]. Rental Growth and Land Values - Prime rents increased by 6.7% year-on-year, while secondary rents rose by 5.2% [22]. - Land values for smaller lots saw significant growth, with a 26.5% increase for sites 1-5ha [22]. Transaction Highlights - Notable transactions included the sale of properties at 14 Dixon Street and 836-854 Boundary Rd, reflecting strong buyer engagement and yield certainty [9][22].

Core Insights - The Lindley is a new 37-story high-rise apartment community in San Diego's Little Italy, offering 362 apartment homes and penthouses, officially opened on March 13, 2025 [1][2] Company Overview - Toll Brothers Apartment Living is the rental subsidiary of Toll Brothers, Inc., recognized as the nation's leading builder of luxury homes [6] - The company has been named to the National Multifamily Housing Council's Top 25 Largest Developers list for five consecutive years and has completed over 10,000 units nationally, with more than 18,000 units currently in production [6] Project Details - The Lindley features studio, one-bedroom, and two-bedroom apartments, all designed with premium finishes such as floor-to-ceiling windows, quartz countertops, and smart home technology [2][3] - The community includes resort-style amenities like a pool, spa, sky lounge, coworking suite, and wellness-focused facilities, and is LEED Gold Certified [3][4] Location and Accessibility - Located at 1331 Columbia Street, The Lindley is in proximity to award-winning restaurants, parks, and major employment hubs, enhancing its appeal as an urban living space [4] - The development includes 10,565 square feet of ground-floor retail space, contributing to the neighborhood's offerings [4] Strategic Importance - The Lindley marks Toll Brothers Apartment Living's first multifamily community in San Diego and third in California, indicating the company's expansion strategy in key markets [5]