Core Insights - Bryan Doyle has been appointed as Chief Operating Officer for Americas Capital Markets at Cushman & Wakefield, focusing on operational strategy and execution to support business expansion [1] Group 1: Leadership and Strategy - Doyle brings operational expertise, technology leadership, and strategic vision, which align with the goals of the Capital Markets business [1] - The appointment is seen as critical for strengthening operational infrastructure to deliver best-in-class outcomes for clients as the business grows in scale and complexity [1] Group 2: Background and Experience - Prior to joining Cushman & Wakefield, Doyle served as Managing Director at CBRE, where he led Capital Markets operations and was involved in technology initiatives [1] - He founded and scaled CBRE's Capital Markets Lead Center, which became a significant business driver since its inception in 2018 [1] Group 3: Company Overview - Cushman & Wakefield is a leading global commercial real estate services firm with approximately 52,000 employees across nearly 400 offices in 60 countries [1] - In 2024, the firm reported revenue of $9.4 billion across its core service lines, including Services, Leasing, Capital Markets, and Valuation [1]

Core Insights - Cushman & Wakefield has appointed Gabrielle Harvey and Brendan Callahan as Executive Vice Chairs in its Boston office, enhancing its tenant representation and portfolio services platform in New England and nationally [1] - The new hires bring extensive experience in headquarters strategy and portfolio optimization for Fortune 500 companies, having executed over $2 billion in headquarters deals globally [1] - Their addition is expected to significantly improve Cushman & Wakefield's advisory capabilities for corporate clients facing strategic real estate challenges [1] Company Overview - Cushman & Wakefield is a leading global commercial real estate services firm with approximately 52,000 employees across nearly 400 offices in 60 countries [1] - In 2024, the firm reported revenue of $9.4 billion from its core service lines, which include Services, Leasing, Capital Markets, and Valuation [1] - The firm is recognized for its award-winning culture and commitment to continuous improvement [1]

Core Insights - National rent growth in the U.S. showed a positive trend in January 2026, with the average rent increasing to $1,713, reflecting a 0.2% rise from December 2025's revised figure of $1,709 [1] - Annual rent growth slightly decreased to 0.6% in January 2026 from 0.7% in December 2025, and down from 1.5% in January 2025 [1] - Rent growth patterns are influenced by seasonal trends, with January typically building on December's growth [1] Rent Growth Trends - All four U.S. regions experienced month-over-month rent increases in January 2026, with the Midwest leading at 0.27%, followed by the Northeast at 0.21%, the South at 0.17%, and the West at 0.09% [1] - The Midwest also showed the strongest annual performance with a 2.1% increase, while the South and West experienced declines of 0.2% and 1.5% year-over-year, respectively [1] Market Performance - 42 out of the top 50 U.S. markets reported rent increases in January 2026, a significant improvement from 25 markets in December [1] - San Francisco led with a monthly rent growth of 1.07%, while Oklahoma City saw the steepest decline at -0.17% [1] Supply and Demand Dynamics - Elevated supply pressures continue to impact rent growth, with markets experiencing the highest levels of new construction showing weaker rent performance [1] - Areas with constrained supply, particularly in the Midwest and select coastal regions, are outperforming those with oversupply [1] Company Overview - CoStar Group, the parent company of Apartments.com, is a leader in commercial real estate information and analytics, dedicated to transforming the real estate industry through innovative technology [1]

Core Insights - Curbline Properties Corp. reported a significant increase in net income for the year ended December 31, 2025, reaching $39.8 million, or $0.37 per diluted share, compared to $10.3 million, or $0.09 per diluted share, in the previous year [1][2] - The company experienced strong growth in operating funds from operations (OFFO), which rose to $30.4 million, or $0.29 per diluted share, in the fourth quarter of 2025, up from $23.8 million, or $0.23 per diluted share, in the same period last year [1][2] - Curbline's strategy focuses on acquiring convenience shopping centers, with nearly $800 million in real estate acquired during 2025, and a same-property net operating income (NOI) growth of over 3% [1][2] Fourth Quarter Results - Fourth quarter net income attributable to Curbline was $9.5 million, or $0.09 per diluted share, down from $11.5 million, or $0.11 per diluted share, in the prior year, primarily due to decreased interest income and increased expenses [1][2] - The company reported a leased rate of 96.7% as of December 31, 2025, consistent with the previous quarter and an increase from 95.5% a year earlier [1][2] - Significant leasing spreads were achieved, with cash new leasing spreads of 19.4% and cash renewal leasing spreads of 8.0% for the trailing twelve-month period ended December 31, 2025 [1][2] Full-Year 2025 Activity - Curbline acquired a total of 81 convenience shopping centers for an aggregate price of $788.4 million during 2025 [1][2] - The company successfully executed a $150 million term loan and issued senior unsecured notes totaling $200 million, with fixed interest rates established through treasury lock agreements [1][2] - Fitch Ratings assigned a Long-Term Issuer Default Rating of 'BBB' with a Stable Outlook to Curbline in May 2025 [1][2] 2026 Guidance - For 2026, Curbline estimates net income attributable to be between $0.32 and $0.40 per diluted share, with Operating FFO projected to be between $1.17 and $1.21 per diluted share [2][3] - The guidance does not include projections for gains or losses on asset sales or transaction costs [2][3] Financial Metrics - The company reported a same-property NOI increase of 3.3% for the year ended December 31, 2025, compared to the previous year [1][2] - The Signed Not Opened spread was 260 basis points, representing $8.4 million of annualized base rent [1][2] - Curbline's OFFO for the full year 2025 was $112 million, or $1.06 per diluted share, compared to $83.5 million, or $0.80 per diluted share, in 2024 [1][2]

Core Insights - Cushman & Wakefield has appointed Will Strong and Kyle Schmidt as Co-Chairs of the National Industrial Advisory Group, enhancing its institutional industrial capital markets platform across the U.S. [1] - The leadership change is part of a long-term succession plan aimed at strengthening the firm's capabilities and client advisory services, reflecting a deep talent pool [1] - The Industrial Advisory Group aims to leverage data-driven insights and technology to provide tailored solutions for clients in the industrial investment landscape [1] Leadership Changes - Will Strong and Kyle Schmidt have been appointed as Co-Chairs for the National Industrial Advisory Group [1] - The new leadership structure is expected to build on the momentum of the capital markets platform and improve client advisory services [1] - Jim Carpenter will continue to lead within the industrial capital markets practice, focusing on market share growth and client relationships [1] Performance Metrics - In 2025, the Industrial Advisory Group closed over 264 transactions, totaling $16 billion in value and covering over 116 million square feet [1] - The group provides a comprehensive suite of services, including investment sales, acquisitions, joint ventures, recapitalizations, and private placements [1] Company Overview - Cushman & Wakefield is a leading global commercial real estate services firm with approximately 52,000 employees in nearly 400 offices across 60 countries [1] - The firm reported revenue of $9.4 billion in 2024 across its core service lines, which include Services, Leasing, Capital Markets, and Valuation [1]

Core Insights - CP Group has signed a significant lease agreement with D-Wave Quantum Inc., marking the relocation of D-Wave's global headquarters to the Boca Raton Innovation Campus (BRiC) in Florida, which is a notable development for the tech ecosystem in South Florida [1][1][1] Group 1: Company Developments - D-Wave Quantum Inc. is recognized as the only dual-platform quantum computing company, providing both annealing and gate-model systems, software, and services [1] - The relocation from Palo Alto, California, signifies a major milestone for D-Wave and enhances BRiC's status as a hub for technology and life sciences [1][1] - Florida Atlantic University (FAU) has committed $20 million to purchase and install D-Wave's Advantage2™ quantum computer on its campus, further strengthening the region's position in quantum research [1][1] Group 2: Infrastructure and Investment - CP Group has invested $100 million in capital improvements at BRiC, transforming it into an amenity-rich destination with features such as a wellness center, coffee shops, and a parking garage with 1,100 spaces [1][1] - The renovations at BRiC have provided the necessary infrastructure to support D-Wave's operational needs, ensuring reliability and continuity for quantum computing operations [1][1] Group 3: Market Position and Growth - Florida is identified as one of the fastest-growing technology ecosystems in the U.S., making it an ideal location for D-Wave's new headquarters and R&D facility [1][1] - BRiC experienced over 300,000 square feet of leasing activity in late 2025, indicating strong demand and interest from various office users, including technology and life sciences firms [1][1]

Core Viewpoint - Orion Properties Inc. has announced the income tax classification of its 2025 dividends for common stock, providing detailed information on ordinary dividends, capital gain distributions, and non-dividend distributions [1] Dividend Classification - The dividends for 2025 are classified as follows: - December 31, 2024: $0.10 per share as ordinary dividends - March 31, 2025: $0.02 per share as ordinary dividends - June 30, 2025: $0.02 per share as ordinary dividends - September 30, 2025: $0.02 per share as ordinary dividends - No capital gain distributions or non-dividend distributions are reported for these dates [1] Company Overview - Orion Properties Inc. is a fully-integrated real estate investment trust (REIT) that owns a diversified portfolio of single-tenant net lease office properties across the United States - The company was founded on July 1, 2021, and spun off from Realty Income on November 12, 2021, beginning trading on the New York Stock Exchange on November 15, 2021 - The portfolio includes traditional office properties, governmental, medical office, flex/laboratory, R&D, and flex/industrial properties [1]

Leadership Transition - Nate Jorgensen, the current CEO of Boise Cascade, will retire on March 2, 2026, and Jeff Strom, the Chief Operating Officer, has been appointed as his successor effective March 3, 2026 [1][2] - The transition is part of a planned succession strategy to ensure stability and continued momentum in the company's operations [2] Leadership Background - Nate Jorgensen has led Boise Cascade for six years, guiding the company through significant challenges, including a global pandemic [2] - Jeff Strom has over 34 years of experience in the building materials industry and has been with Boise Cascade since 2006, holding various leadership roles [2] Company Overview - Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading wholesale distributor of building products in the U.S. [3] - The company reported revenues of $6.7 billion and a net income of $376 million for the year 2024 [5][11]

Core Insights - Ares Management Corporation has launched a new brand, Marq Logistics, to unify its global logistics real estate platforms, managing over 600 million square feet of facilities across the Americas, Europe, and APAC [1][5]. Group 1: Brand and Platform Consolidation - Marq combines Ares' logistics real estate platforms in North America and Europe, including Ares Industrial Management, with the global GLP logistics platform outside of China [2]. - The consolidation follows Ares' acquisition of GLP Capital Partners Limited's international business, which was completed in March 2025 [2]. Group 2: Strategic Goals and Operations - Marq aims to deliver global scale and local operational excellence to logistics tenants, positioning itself as a landlord of choice [3][4]. - The brand is focused on providing best-in-class solutions and a consistent experience for tenants globally [3][5]. Group 3: Company Overview - Ares Management Corporation manages approximately $110 billion in assets as of September 30, 2025, and has a global platform with over $595 billion in assets under management [4][6]. - The company operates across various asset classes, including credit, real estate, private equity, and infrastructure [6].

Core Insights - SmartStop Self Storage REIT, Inc. has acquired a self-storage facility in Winter Garden, Florida, expanding its presence in the Orlando market [1][3] - The facility features approximately 72,100 net rentable square feet and 515 storage units, including climate-controlled and non-climate-controlled options [1] - The acquisition aligns with SmartStop's growth strategy, targeting high-growth areas with strong demographics and significant residential expansion [4] Acquisition Details - The newly acquired facility is located 15 miles west of downtown Orlando, benefiting from high visibility with around 7,900 vehicles passing daily [2] - The surrounding area has a strong median household income and is projected to experience an 8.4% population growth over the next five years [2] - A nearby residential development is expected to add over 42,000 new housing units, further enhancing the market potential [2] Strategic Importance - This acquisition marks SmartStop's fifth location in the Orlando market, reinforcing its footprint in central Florida [3] - The facility will serve several neighborhoods, including Hamlin, Independence, and Horizon West, which are experiencing rapid growth [3] - The President and Chief Investment Officer of SmartStop emphasized the long-term value of the property due to its demographics and ongoing residential expansion [4] Company Overview - SmartStop Self Storage REIT, Inc. is a self-managed real estate investment trust with over 1,000 self-storage professionals [4] - As of November 26, 2025, SmartStop has a portfolio of more than 460 operating properties across 34 states, Washington D.C., and Canada, totaling over 270,000 units and 35 million rentable square feet [4]