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GBT Realty Bets on Retail With $1.3B Expansion Plan

GBT Realty Bets on Retail With $1.3B Expansion Plan

GBT Realty wants to become one of the largest retail players in the U.S., and it’s starting with $1.3B.

Nina Dale
February 06, 2026

Together with

Good morning. GBT Realty is making a major retail push, announcing plans to deploy $1.3B into new development and shopping center acquisitions over the next 18 months.

Today’s issue is sponsored by Georgetown McDonough—advancing real estate and infrastructure careers with full-tuition scholarships.

🎙️Worth a listen: Alex Killick of CW Capital breaks down how CMBS special servicing really works when loans go sideways—and why today’s CRE distress looks nothing like the last cycle.

CRE Trivia 🧠

What sector led the S&P 500 in performance in 2025?

(Answer at the bottom of the newsletter)

Market Snapshot

S&P 500

GSPC

6,798.40

Pct Chg:
-1.23%

FTSE NAREIT

FNER

778.78

Pct Chg:
-0.031%

10Y Treasury

TNX

4.182%

Pct Chg:
-0.028

SOFR

30-DAY AVERAGE

3.66%

Pct Chg:
-0.00

*Data as of 2/5/2026 market close.

Growth Mode

GBT Realty Bets on Retail With $1.3B Expansion Plan

GBT Realty is gearing up for its most ambitious growth push yet, lining up $1.3B to expand its retail footprint through new development and acquisitions.

The big plan: Brentwood, Tennessee-based GBT Realty Corp. plans to deploy $1.3B over the next 18 months for build-to-suit retail development and shopping center acquisitions nationwide. The strategy aims to grow assets under management from about $1B to more than $3B.

Portfolio focus: Founded in 1987, GBT has focused largely on Southern U.S. strip centers, with a heavy presence in Tennessee. It also owns Ellsworth Place Mall in Maryland, where it plans a 450-unit apartment addition, signaling continued interest in mixed-use densification.

By the numbers:

33 projects slated to break ground over the next year and a half
12 new hires added across land acquisition, development, and leasing teams
Nearly $500M already lined up in lending commitments
5M SF currently under management across 35 properties

Capital stack: GBT is investing its own equity alongside a key capital partner, AEW Capital Management, with additional capital from family offices and high-net-worth investors to support its growth.

Building scale: CEO Brian Dawson said the strategy has been two years in the making and is intended to scale the firm into one of the nation’s largest retail real estate players. He added this is not a one-time fund but the start of a broader capital platform.

➥ THE TAKEAWAY

Expansion mode: GBT Realty is making a well-capitalized bet that grocery-anchored and build-to-suit retail still has room to scale, positioning itself as a long-term national consolidator rather than a regional player.

TOGETHER WITH GEORGETOWN MCDONOUGH

Full-tuition scholarships available: excel in real assets

Leverage new opportunities across real assets. Georgetown is offering 20 full-tuition scholarships through the Steers Scholars Program for its M.S. in Global Real Assets.

The program delivers a cutting-edge curriculum spanning real estate, infrastructure, and the future of energy. Benefit from comprehensive career support, access to a specialized real estate search firm, and a powerful partnership with Georgetown’s top-ranked business school and the Steers Center.

Learn more about Georgetown’s one-of-a-kind M.S. in Global Real Assets.

*This is a paid advertisement. Please see the full disclosure at the bottom of the newsletter.

✍️ Editor’s Picks

Close faster: When timing matters, decks can’t be the bottleneck. Henry turns underwriting models into polished presentations in minutes, helping brokers move faster from send to close. (sponsored)
Power pivot: Prologis is exploring a new fund structure to attract investor capital for data centers, signaling a strategic pivot to capitalize on AI-fueled infrastructure demand.
Debt snapshot: The CRE debt universe shrank in Q3 2025 for the fourth straight quarter, led by declines in bank lending and CMBS issuance as refinancing challenges persist.
Fundraising: Capital success today is more personal than ever. See how people-first capital systems help GPs strengthen investor relationships and maintain momentum. (sponsored)
Leadership change: Brookfield Asset Management named 38-year old Connor Teskey CEO after a record-breaking 2023, positioning the firm for further global growth across alternative assets.
SFR surge: Single-family rentals reached a seven-year high as institutional investors ramp up activity amid growing demand and constrained affordability.
Miami moves: CRE deal volume in Miami jumped 35% YoY as investor confidence returns, suggesting a thaw in capital markets after a deep freeze.
JLL shakeup: JLL Technologies CEO Michael Colacino abruptly resigned after 3 weeks, marking a leadership transition as the proptech division evolves its strategic direction.

🏘️ MULTIFAMILY

OZ outlook: New Census data will significantly reduce the number of areas eligible for Opportunity Zone incentives, posing challenges for some community investment plans.
January jolt: January 2026 saw typical seasonal rent and occupancy dips, but strong new lease demand points to improving fundamentals heading into the spring.
DFW cooldown: Multifamily construction starts in DFW are expected to plunge in 2026, marking a sharp shift from years of overbuilding.
Rent debate: Massachusetts' proposed rent control measures could disrupt multifamily development and deter investment in one of the nation's tightest housing markets.

🏭 Industrial

Inflection point: Prologis sees rent growth nearing an inflection point as demand stabilizes post-AI surge, shifting focus from expansion to operating leverage.
Industrial scorecard: U.S. industrial leasing slowed but remained healthy in 2025, with strong absorption in key logistics markets balancing rising vacancy rates.
Big backing: LA–based Serverfarm secured $3B to fund a North American data center pipeline, highlighting investor appetite for AI-powered digital infrastructure.
Hub hurdles: Virginia and Arizona proposed tighter data center regulations over energy and noise concerns, raising red flags for future development in top markets.

🏬 RETAIL

Brady brand: Tom Brady’s CardVault opened its flagship in San Francisco, blending collectibles and celebrity branding in the evolving experiential retail space.
Fresh start: A Japanese grocery store’s arrival in a struggling California mall suggests renewed foot traffic and potential for mall revitalization.
Simon spree: Simon is spending $250M to renovate three malls, doubling down on experiential upgrades and redevelopment to keep brick-and-mortar relevant.

🏢 OFFICE

Office trim: Brandywine Realty is planning $300M in asset sales as it refocuses its portfolio amid signs of a stabilizing office market.
D.C. deal: Brookfield sold a downtown D.C. office tower to Stream Realty, part of a broader trend of selective office asset repositioning.
Tower refi: Brookfield secured $173M to refinance its Brookfield Place tower in NYC, signaling lender confidence in trophy assets despite market headwinds.

🏨 HOSPITALITY

Booking blitz: The Super Bowl’s Bay Area location is boosting hotel demand in both San Francisco and San Jose, helping to ease regional hospitality gaps.
Vegas refi: Blackstone locked in a $3B refinancing for The Cosmopolitan of Las Vegas, underscoring strong lender appetite for marquee hospitality assets.

📈 CHART OF THE DAY

U.S. apartment rent momentum weakened in 4Q25, with renewal rent growth at its lowest level since early 2021 and new-lease trade-outs turning negative in the Midwest.

CRE Trivia (Answer)🧠

Technology led the S&P 500 in 2025, posting the highest total returns of any sector.

GBT Realty Bets on Retail With $1.3B Expansion Plan

GBT Realty wants to become one of the largest retail players in the U.S., and it’s starting with $1.3B.