The national office market recorded positive absorption in last year's final two quarters, a turnaround from the previous 12 quarters of negative absorption. But that wasn't enough to offset the first half's...
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Crain's Chicago Business Cedar Street has paid $66 million, or $333,333/unit, for Avra West Loop, a 198-unit apartment building in Chicago. The local investor acquired the property, at 1125 West Van Buren St., from its developer, Tandem. Nuveen...
Clay, an artificial intelligence startup, has leased 163,095 square feet at the 2.29 million-sf 11 Madison Ave. office building in Manhattan's Flatiron District. The company's lease has a 10-year term. The property is owned by a venture of...
MonticelloAM LLC has provided $52 million of short-term financing against the 298-unit Southerly at Orange City apartment property in Orange City, Fla., roughly midway between Orlando, Fla., and Daytona Beach, Fla. The three-year loan, which could be extended...
Commercial Real Estate Direct Staff Report Accesso Partners, which owns the 911,579-square-foot 7700 Parmer office complex in Austin, Texas, has negotiated a term extension for the property's $177 million loan, which has been paid down by $5 million...
Commercial Observer Guggenheim Partners Investment Management has provided $113.6 million against the 288,000-square-foot Mayfair in the Grove mixed-use development in Coconut Grove, Fla. Whalou Properties Management, led by Palm Beach, Fla., investor Timo Kipp, owns the retail and...
The Real Deal Black Mountain Energy has lined up $94.5 million of financing for its purchase of Chisholm 20 Commerce Park, a 917,374-square-foot industrial complex in Benbrook, Texas. The locally based energy company purchased the four-building property from...
Commercial Real Estate Direct Staff Report The bankruptcy filing by Saks Global Enterprises in January prompted last month's transfer to special servicing of a $1.25 billion CMBS loan against the ground beneath the Saks Fifth Ave. flagship store...
Commercial Real Estate Direct Staff Report Romspen Holdings Inc. has placed the $5.4 million stalking horse bid for the equity interest in the entity that owns the former Motorola campus in Austin, Texas. Bids are due today. The...
Silicon Valley Business Journal An affiliate of Post Investment Group has paid $41 million, or $273,333/unit, for Almaden 1930, a 150-unit apartment property in San Jose, Calif. The seller could not yet be identified. The property, at 1930...
South Florida Business Journal Local real estate investor Moishe Mana has bought One Downtown, a 450,000-square-foot office building in downtown Miami for $110 million, or $244.44/sf. Mana bought the 31-story property from PCCP of Los Angeles, which had bought...
D2 Residential has provided $25.22 million of financing against Chateau on Wells, a 43-unit apartment property in downtown Chicago. JLL Capital Markets arranged the three-year loan on behalf of the property's owner, Akara Partners of Chicago. The new...
Commercial Real Estate Direct Staff Report Walker & Dunlop, among the top agency lenders in the country, was asked last year to buy back $100 million of loans it originated on behalf of Freddie Mac as a result...
Commercial Real Estate Direct Staff Report Phillips Edison & Co. has paid $25.78 million, or $555.53/sf, for Shops at Plaza West Covina, a 46,406-square-foot retail center in West Covina, Calif. The Cincinnati REIT acquired the property, at 310...
Charlotte Business Journal Southwood Realty Co. has bought the 174-unit Laurel View Apartments in Concord, N.C., for $41.4 million, or $237,931/unit. The Gastonia, N.C., company purchased the property from Gamma Real Estate of New York in a deal brokered...
Crain's New York Business The five CMBS trusts that hold portions of a $215 million mortgage against 681 Fifth Ave. in Midtown Manhattan took title to the 82,573-square-foot mixed-use building at a foreclosure auction on Tuesday. The property...
Crain's New York Business PGIM Real Estate has provided $111 million of bridge financing against the 164-unit Bold apartment property at 27-01 Jackson Ave. in the Long Island City section of Queens, N.Y. The loan allowed the property's...
Orlando Business Journal Second Horizon Capital has paid $56.25 million, or $80.01/sf, for the 703,000-square-foot Melbourne Square enclosed shopping mall in Melbourne, Fla. The Boca Raton, Fla., investment firm purchased the retail property from Washington Prime Group, a...
Commercial Real Estate Direct Staff Report Haverford Retail Partners, which late last year paid $126 million for a portfolio of three retail properties with 767,546 square feet, funded its purchase with an $81 million loan from Citigroup. Part of...
Crain's Chicago Business L3 Capital has paid $50.1 million, or $380.27/sf, for the 131,748-square-foot retail center at 3030 North Broadway in Chicago. The local investor acquired the property from SITE Centers, which bought it in 2017 for $81...
Commercial Real Estate Direct Staff Report The average monthly cost to rent an apartment unit during the fourth quarter was $1,182 less than the average cost of owning a home, according to Newmark. The brokerage noted that the...
Commercial Real Estate Direct Staff Report ACORE Capital has provided a $176 million loan against the 25,600 square feet of retail space at 1551-1555 Broadway in the Times Square section of Manhattan. The loan allowed the owner of...
Commercial Real Estate Direct Staff Report The venture that owns One New York Plaza in Lower Manhattan paid down the 2.7 million-square-foot office property's CMBS loan by $25 million, to $810 million, in order to win a two-year...
Commercial Real Estate Direct Staff Report The appraised value of the 154,944-square-foot Pearlridge Uptown II shopping center near the Pearl Harbor Naval Station on Oahu, Hawaii, has been slashed as it faces a number of near-term lease rollovers....
An affiliate of Richemont Americas, whose Van Cleef & Arpels luxury jewelry retail operation occupies 690 Madison Ave. on Manhattan's Upper East Side, has purchased the five-story building for $54.5 million, or $6,943/sf. The Swiss company purchased the...
Commercial Property Executive Walmart has paid $111.5 million, or $219.92/sf, for Burke Sycamore Business Park, a 507,000-square-foot industrial property in Riverside, Calif., within the state's Inland Empire region. The retail giant acquired the property, at 1001 Columbia Ave.,...
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