DRA Advisors Buys 49% Stake in $1.3B Midtown Office Tower
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in October 2026: $1.9B across 4 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Glenn Agre Expands San Francisco Office with Trial Lawyer and Strategic Advisor KC Maxwell
Maxwell, a trial lawyer with three decades of white collar, investigations and technology-sector experience, joins the firm as it builds a West Coast platform for disputes involving venture-backed and emerging compani…
Houston Industrial Market Stays Strong
Houston’s industrial market accelerated in the third quarter of 2026, recording its strongest quarterly leasing activity in more than four years, while office leasing remained ahead of last year’s pace des…
Rithm Finds JV Partner for Trophy Midtown Office Tower
Chicago Leads CMBS Distress Among 11 Metros in MLB Playoffs
Both the Chicago Cubs and the Chicago White Sox reached Major League Baseball’s 2026 postseason, but the owners of the city’s office towers in the commercial mortgage-backed securities (CMBS) market have not earned si…
San Francisco Office Leasing Rises 37% in First Half of 2026 as Engineers Remain Top Recruiting Target
A joint analysis by recruiting platform Juicebox and Newmark Research finds San Francisco office leasing up 37 percent in the first half of 2026, with average deal sizes back above 20,000 square feet and recruiters st…
Rider Jet Center Welcomes New Tenants
HAGERSTOWN, Md., Oct. 5, 2026 /PRNewswire/ -- Rider Jet Center, a full-service Fixed Base Operator at Hagerstown Regional Airport, has announced two new tenants in its 22,000-sf office building. Rider Jet Center is al…