New York City Mayor Zohran Mamdani is proposing an increase in property taxes in the five boroughs to help address a $5.4 billion gap in the city's preliminary $127 billion budget. In an address at City Hall, the...

JLL Capital Markets has arranged $77.1 million of financing for the development of Commerce Yards, a 466,000-square-foot industrial property in Commerce City, Colo. The financing is comprised of a construction loan from First Horizon Bank, as well as...

Crain's Chicago Business A venture of Magellan Investment Partners and Intercontinental Real Estate has paid $126 million, or $379,518/unit, for the 332-unit apartment building at 73 East Lake St. in Chicago. Magellan, of Chicago, and Intercontinental, of Boston,...

South Florida Business Journal Cabot Properties has purchased two industrial buildings totaling 316,978 square feet at 1673 and 1715 Meathe Drive in Palm Beach County, Fla., for $79.6 million, or $251.12/sf. The Boston company purchased the properties from...

Orlando Business Journal Avanath Capital Management has paid $73.5 million, or $218,750/unit, for the Retreat at Valencia, a 336-unit apartment complex in Orlando, Fla. The Irvine, Calif., affordable housing owner purchased the property from Concord Management of Maitland,...

Commercial Real Estate Direct Staff Report LCN Capital Partners has paid $88.25 million, or $250.70/sf, for the New Albany Innovation Park, a 352,012-square-foot industrial property in the Columbus, Ohio, suburb of New Albany, Ohio. The New York investor,...

Wells Fargo Bank is providing $450 million of mortgage financing against the 757,154-square-foot office building at 1250 Broadway near the Penn Station commuter hub in Midtown Manhattan. The three-year loan, with a coupon that's expected to be set...

Commercial Observer Ares Management has provided a $450 million loan against 834-unit Riverie apartment property in the Greenpoint section of Brooklyn, N.Y. The loan, arranged by CBRE, allowed a venture of Lendlease Corp. and Aware Super, an Australian...

A venture of LeCesse Development Corp. and Mas Development has lined up $83.35 million of construction financing for the 258-unit Ecco apartment property at 250 Union St. in Elizabeth, N.J. Bank OZK provided a $63.2 million senior loan,...

Commercial Real Estate Direct Staff Report Black Diamond Capital Management, which late last year bought the distressed $418.5 million CMBS loan against the Palisades Center Mall in Rockland County, N.Y., has taken over the 2.3 million-square-foot property. The move...

The Wall Street Journal Anbang Insurance Group has tapped Eastdil Secured to market for sale the Waldorf Astoria hotel in Manhattan. The famed property, at 301 Park Ave., now has 375 hotel rooms. It also has 372 residential...

Commercial Real Estate Direct Staff Report The recent sale of 175 West Jackson Blvd. in Chicago has resulted in a complete wipe out of the $250.47 million CMBS loan that encumbered the 1.45 million-square-foot office building. As reported,...

Crescent Real Estate LLC has lined up $596 million of fresh financing against the 1.37 million-square-foot Crescent mixed-use complex in Dallas' Uptown area. Goldman Sachs and JPMorgan Chase Bank are providing the loan, which will be securitized in...

ConnectCRE Equus Capital Partners has paid $46.9 million, or $137.19/sf, for the Falls Lake Commerce Center, a 341,867-square-foot industrial complex in Butner, N.C., about 14 miles northeast of Durham, N.C. The Newtown Square, Pa., company purchased the three-building...

Commercial Real Estate Direct Staff Report The Mortgage Bankers Association expects total commercial mortgage originations to jump by another 27.1% this year, to $805.4 billion. Last year's volume spiked by 27.2% from 2024 to $644.7 billion, with $330.6...

Barings has provided an $86.2 million loan against the 355,580-square-foot Bridge Point Bayonne industrial property in the northern New Jersey city of Bayonne. The property, at 63 New Hook Road, was developed in 2024 and is owned by...

Commercial Real Estate Direct Staff Report Citi Real Estate Funding Inc. has provided $60 million of financing against the 307,798-square-foot office property at 136 Madison Ave. in the Murray Hill section of Manhattan. The loan has a five-year...

Multi-Housing News New York Life Insurance Co. has provided $61 million of financing for the purchase of the 424-unit Capitol at Stonebriar apartment complex in the Dallas suburb of Frisco, Texas. Tanglewood Property Group of Houston purchased the four-story...

Commercial Real Estate Direct Staff Report Morgan Stanley Bank and Bank of America are providing $407.5 million of mortgage financing against the leasehold interest in the 910,473 square feet of office space atop the Grand Central Post Office...

PCCP LLC has paid $141.6 million, or $116.52/sf, for the 1.21 million-square-foot industrial property at 3419 Ritner Highway in the Cumberland County, Pa., town of Newville, about 34 miles southwest of Harrisburg, Pa. The Los Angeles investor acquired...

PRP Real Assets is offering for sale the 492,122-square-foot Cencora HQ at SORA West office building in Conshohocken, Pa. JLL Capital Markets has the listing for the 11-story property at 1 West 1st Ave., about 15 miles northwest...

Triad Business Journal Somerset Properties has paid $46.75 million, or $139.14/sf, for the South Elm Industrial Center, a 336,000-square-foot industrial complex in Greensboro, N.C. The Fort Washington, Pa., company purchased the 13-building property from an affiliate of Blue...

Commercial Real Estate Direct Staff Report Freddie Mac's multifamily business generated $30.6 billion of volume during last year's final quarter, taking its full-year volume to $77.6 billion, a 17.6% increase from the $66 billion of volume it produced...

Commercial Observer Premier Equities has paid $31.6 million, or $468/sf, for the 67,528-square-foot office building at 1220 Broadway in Manhattan's Midtown South submarket. The New York investor, led by Yaron Jacobi and Uzi Ben Braham, bought the nine-story...

Triangle Business Journal Landmark Cos. has bought Hudson 5401, a 454-unit apartment complex in Raleigh, N.C., for $106 million, or $233,480/unit. The Woodbridge, N.J., company purchased the property from Hudson Capital Properties of New York, which developed it...