Springer Capital Pays $240.2Mln for S.C. Apartment Portfolio
April 22, 2024
309-Unit Apartment Property Opens in Phoenix
April 22, 2024
Rents at the major apartment-owning REITs averaged $2,377/unit in the fourth quarter, up 3.91 percent from a year earlier. Meanwhile, the year-over-year rent growth that the REITs experienced was substantially more than...
Read moreCommercial Real Estate Direct Staff Report SL Green Realty Corp. has received a maturity extension, to November 2026, for its $190.1 million loan against the 50,000-square-foot office property at 185 Broadway in downtown Manhattan. The New York REIT...
Multi-Housing News Springer Capital has bought a portfolio of eight apartment properties with a total of 2,164 units in South Carolina for $240.2 million, or about $110,998/unit. Berkadia brokered the deal for the buyer. The seller could not...
Commercial Real Estate Direct Staff Report The $254.9 million of securitized debt against the 980,711-square-foot Providence Place Mall in Rhode Island has been transferred to special servicing due to imminent default. The loan's transfer to special servicer Wells...
Nashville Business Journal Fairfield Residential has bought the Landmark at Wynton Pointe, a 380-unit apartment property in Nashville, Tenn., for $51.8 million, or about $136,316/unit. The San Diego company purchased the three-story property from GVA Real Estate of...
Commercial Real Estate Direct Staff Report Primestor Development has lined up $54 million of financing for its purchase of the 357,000-square-foot Esplanade Shopping Center in Oxnard, Calif. PSRS arranged the financing, which was provided by an unnamed life...
Commercial Observer Yellowstone Real Estate has paid about $200 million for the distressed loan against the 603,928-square-foot office building at 1740 Broadway in Manhattan. Midland Loan Services, special servicer for the CMBS trust that holds the loan, BWAY...
Commercial Real Estate Direct Staff Report Goldman Sachs Bank USA has provided $33 million of financing against Sheraton Park City, a 200-room hotel in Park City, Utah. Berkadia arranged the loan, which has a five-year term and pays...
Commercial Real Estate Direct Staff Report Orda Management Corp., which owns Manhattan's 225 and 233 Park Ave. South, is expected to default on the 675,756-square-foot office property's $235 million CMBS loan. As a result, the loan has been...
Commercial Real Estate Direct Staff Report The $19 million CMBS loan against the 182,505-square-foot office property at 700 17th St. in Denver has transferred to special servicer LNR Partners as it is more than 90 days delinquent. The...
Commercial Real Estate Direct Staff Report The $258.4 million loan against Philadelphia Mills, a 1.58 million-square-foot shopping mall in Philadelphia, has been transferred to special servicing due to imminent default. The transfer, to Greystone Servicing Co., was highlighted...
REBusiness Online Chavez Management Group has paid $44.5 million, or $106.21/sf, for Natomas Corporate Center, a 419,000-square-foot office property in Sacramento, Calif. The Burlingame, Calif., company purchased the property from Bannon Investments Ltd., which was represented by Avison...
Commercial Observer Bank of Montreal and Argentic Investment Management have provided $117 million of financing against Sunrise Tower, the 238-unit apartment property at 620 West 153rd St. in the Harlem section of Manhattan. Bank of Montreal provided about...
Commercial Real Estate Direct Staff Report A venture of SL Green Realty Corp. and PGIM Real Estate has secured an extension for the $360 million loan against 100 Park Ave., an 874,022-square-foot office building in Manhattan. The loan,...
Chicago Business Journal CenterPoint Properties has sold a portfolio of three nearby industrial buildings totaling 1.7 million square feet in Elwood, Ill., for $125 million, or about $73.53/sf. The Oak Brook, Ill., company sold the properties to Stonepeak,...
South Florida Business Journal An affiliate of Hillwood has bought the 1 million-square-foot distribution center at 14490 Corporate Road North in Jupiter, Fla., for $106.5 million, or $106.50/sf. The Dallas company, an affiliate of The Perot Cos., purchased...
Commercial Real Estate Direct Staff Report Interstate Equities Corp. has recapitalized the Gates at Marina Apartments in Marina, Calif., in a deal that values the 136-unit property at $45 million, or $330,882/unit. The recapitalization involved bringing in a...
Commercial Real Estate Direct Staff Report Northmarq has arranged $35 million of financing against Lodge at Mallard's Landing, a seniors-housing property with 147 units in Gig Harbor, Wash. The financing, which was provided by an unnamed life insurance...
Commercial Real Estate Direct Staff Report The 120,215-square-foot office building at 717 14th St. in Washington, D.C., was appraised recently at a value of $10.5 million. That's down 81 percent from the $56 million value pegged to it...
The Real Deal Continental Realty Corp. has paid $78.4 million, or $276,056/unit, for Sixteen30, a 284-unit apartment complex in Plainfield, Ill. The Baltimore investment manager purchased the property from its developer, Wingspan Development, which had spent $60 million...
Commercial Real Estate Direct Staff Report SL Green Realty Corp. has agreed to buy the remaining stake it doesn't already own in 10 East 53rd St., a 366,879-square-foot office property in midtown Manhattan. The New York REIT is...
Commercial Real Estate Direct Staff Report The $300 million loan against the 527,000-square-foot Santa Monica Place Mall in Santa Monica, Calif., has transferred to special servicer Argentic Services Co. as its expected to default at its upcoming maturity....
Commercial Real Estate Direct Staff Report A venture of New York Life Real Estate Investors and Bridgeton has purchased, out of foreclosure, the 78,000-square-foot office building at 410 Townsend St. in San Francisco for $22 million, or $282.05/sf....
Ease Capital has provided $32 million of financing against The Station Apartments, a 97-unit property in West New York, N.J. Maidstone Advisors of New York arranged the two-year loan, which pays only interest for the life of its...
Commercial Real Estate Direct Staff Report W.P. Carey Inc. has paid $94.1 million, or $79.08/sf, for Rickenbacker Exchange Building 2, a 1.19-million-square-foot industrial property in Commercial Point, Ohio. The New York REIT purchased the property from its developer,...
Nationwide has provided $100 million of financing against a portfolio of industrial properties totaling 824,546 square feet in South Florida. JLL Capital Markets arranged the loan on behalf of the borrower, Seagis Property Group of Conshohocken, Pa. The...
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