Vornado Realty Trust might very well pay off, with cash, the $500 million mortgage against its 731 Lexington Ave. office building in midtown Manhattan. The loan pays a coupon pegged to the...
Read moreA venture of Denholtz Properties and Long Wharf Capital has paid $36.5 million, or $143.18/sf, for Silver Star Commerce Center, a 254,915-square-foot industrial property in Orlando, Fla. Denholtz, of Orlando, and Long Wharf, of Boston, purchased the eight-building...
JPMorgan Chase Bank has lent $232.07 million against the 1,193-unit apartment property at 3333 Broadway in the Harlem section of Manhattan. The 49-year-old property, with five buildings near Columbia University's Morningside Heights campus, is owned by a venture...
Regeneron Pharmaceuticals Inc. has signed an office lease for 126,678 square feet at the 820,000-sf Warren Corporate Center in Warren Township, N.J. The space that Regeneron took is owned by a venture of Rubenstein Partners of Philadelphia and...
REBusiness Online Neology Development has lined up $54.5 million of financing against the Pier 19 Residences & Marina, a 199-unit apartment property in downtown Miami. Apollo provided the five-year loan, which has a fixed rate and was arranged...
The Birch Group has paid $43.75 million, or $297,619/unit, for The Pennington, a 147-unit apartment property in Passaic, N.J. The Jersey City, N.J., investor acquired the property, at 211 Pennington Ave., from the Chetrit Group of New York...
BisNow CGI Merchant Group, the owner of the Waldorf Astoria Hotel at 1100 Pennsylvania Ave. NW in Washington, D.C., has defaulted on the property's mortgage, prompting its lender, BDT & MSD Partners, to schedule a foreclosure auction for...
Manny Brown, a 17-year mortgage industry veteran who recently was chief operating officer and president of Plum Lending, has been named COO of Concord Summit Capital, a Miami real estate capital intermediary. Brown had joined Plum Lending, a...
Crain's New York Business A venture of Legion Development Group and EJS Group has paid $57.5 million, or $522.73/sf, for the 110,000-square-foot office property at 5 West 13th St. in the Greenwich Village section of Manhattan. The venture...
ConnectCRE City Realty Group has paid $41 million, or $341.67/sf, for the Chestnut Hill Office Park, with 120,000 square feet at 1280-1330 Boylston St. in Brookline, Mass. The Allston, Mass., investor plans to redevelop the 5.34-acre site into...
Commercial Real Estate Direct Staff Report Average monthly rents for apartment units nationally increased in the first quarter by 0.4 percent from a year ago, to $2,163, according to CBRE. That number is unchanged from the fourth quarter....
A venture of Hines and Trez Capital has lined up $108 million of financing against a portfolio of 13 self-storage properties with a total of 8,952 units in the Dallas-Fort Worth area. New York Life Real Estate Investors...
The Real Deal WS Communities is offering for sale 11 apartment properties with 399 units in Santa Monica, Calif. The local development firm has hired JLL to market the properties, which it has owned since the early 2000s....
Commercial Real Estate Direct Staff Report The $21.5 million loan against a portfolio of three Oklahoma hotels with 320 rooms has transferred to special servicing as it had defaulted at its maturity last month. The transfer, to special...
REBusiness Online BentallGreenOak has paid $44 million, or $425.12/sf, for Baylis 495 Business Park, a 103,500-square-foot industrial property in the Long Island, N.Y., hamlet of Melville, N.Y. The Miami investment manager acquired the property, at 125 Baylis Road,...
Commercial Real Estate Direct Staff Report Mill Creek Residential has paid $26.25 million for a 139,223-square-foot development site in Kirkland, Wash., on which it will develop an apartment property. The Boca Raton, Fla., developer purchased the property from...
Commercial Observer L+M Fund Management has paid $84.6 million, or $53,207/unit, for Knickerbocker Village, a 1,590-unit affordable-housing property in lower Manhattan. The affiliate of L+M Development Partners of Manhattan acquired the property, at 10-20 Monroe St., from Stellar...
Commercial Observer JPMorgan Chase Bank has provided a $430 million loan against Tower 77, a 766-unit apartment property in Brooklyn, N.Y. The three-building property, at 77 Commercial St., is owned by Clipper Equity of Brooklyn. Galaxy Capital of...
BisNow AIR Communities has paid $129.8 million, or $361,559/unit, for Flats 8300, a 359-unit apartment property at 8300 Wisconsin Ave. in Bethesda, Md. The Denver REIT acquired the property from Invesco Real Estate of Atlanta, which had purchased...
Commercial Real Estate Direct Staff Report The Oglethorpe Mall in Savannah, Ga., has been re-appraised at a value of $129.7 million, just less than the $133.28 million that is owed against it. Its indebtedness is split into two...
Crain's Chicago Business Two suburban Chicago apartment properties with a combined 656 units are being offered for sale. Broadshore Capital Partners has hired Berkadia to market for sale Ascend St. Charles, with 400 units at 100 Lakeside Drive...
Commercial Real Estate Direct Staff Report QR Real Estate Capital, an affiliate of QuadReal Property Group, has provided $102.5 million of financing for the proposed 228-unit apartment property at 870-888 Atlantic Ave. in Brooklyn, N.Y. QuadReal is a...
Milstein Properties has inked leases with five tenants for a total of 460,000 square feet at 22 Vanderbilt, a 1.19 million-sf office property across from Grand Central Terminal in midtown Manhattan. Bain & Co. took 235,000 sf and...
Tampa Bay Business Journal An affiliate of Blackstone Group has paid $94.5 million, or $157.50/sf, for Tampa Commerce Center, a 600,000-square-foot industrial complex in Tampa, Fla. The New York investment giant purchased the four-building property from Hines of...
Commercial Real Estate Direct Staff Report The pending departure of American Eagle Outfitters as a tenant at 393-401 Fifth Ave. in midtown Manhattan likely will make it challenging for the office building's $95 million mortgage to get refinanced. As...
Commercial Real Estate Direct Staff Report The 210,002-square-foot industrial property at 940 Ridgebrook Road in the Baltimore suburb of Sparks Glencoe, Md., which last year lost its sole tenant, has been appraised at a value of only $9.5...
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