National monthly multifamily rents averaged $2,204/unit last year, growing by just 0.2% from the previous year, according to CBRE. It marked the third straight year of muted rent growth, following the 2021...
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Commercial Real Estate Direct Staff Report Brookfield Properties has lined up $800 million of fresh mortgage financing against the leasehold interest in the 2.43 million-sf 225 Liberty St. office property in Lower Manhattan. The loan, which is being...
Commercial Real Estate Direct Staff Report The continued weak performance of 521 Fifth Ave. in Midtown Manhattan has prompted S&P Global Ratings to downgrade three bond classes of COMM, 2019-521F, the CMBS deal that holds the 494,527-square-foot office...
Commercial Real Estate Direct Staff Report Bridge33 Capital has paid $71.4 million, or $216.98/sf, for the 329,061-square-foot Sparks Crossing retail property in the Reno, Nev., suburb of Sparks, Nev. The Seattle investment firm acquired the property, at 101...
Commercial Real Estate Direct Staff Report A venture of 601W Cos. and David Werner Real Estate has completed its $41 million, or just more than $28/sf, purchase of the 1.45 million-square-foot office property at 175 West Jackson Blvd....
Asana Partners has paid $151 million, or just more than $596/sf, for Seacliff Village, a 253,234-square-foot retail property that's anchored by an Albertson's grocery store in Huntington Beach, Calif. The Charlotte, N.C., retail property investor bought the shopping...
Commercial Real Estate Direct Staff Report Forethought Life Insurance Co. and Commonwealth Annuity and Life Insurance Co. have provided $160.25 million of mortgage financing against the 421-unit QLIC apartment property at 41-42 24th St. in the Long Island...
Commercial Observer STORE Capital Corp. has paid $103 million, or $421.33/sf, for the 244,466-square-foot office property at 8000 Jones Branch Drive in the Washington, D.C., suburb of Tysons, Va. The Scottsdale, Ariz., REIT acquired the property from Spring...
Commercial Property Executive Equus Capital Partners has paid $95.9 million, or $186.25/sf, for the 514,900-square-foot Greg Center industrial property in Sparks, Nev. The Newtown Square, Pa., investment manager acquired the four-building property from Link Logistics. The property is...
Mesa West Capital has provided $26.9 million of mortgage financing to facilitate Lift Partners' $31.8 million, or $264.24/sf, purchase of the 120,345-square-foot industrial building at 100 Utah Ave. in South San Francisco. Lift, a San Francisco investment manager...
Triangle Business Journal Tishman Speyer has paid $69.6 million, or $285,246/unit, for The Maggie, a 244-unit apartment complex in Raleigh, N.C. The New York company purchased the property from TA Realty of Boston, which had bought it for $91.2...
Commercial Real Estate Direct Staff Report Leasing activity in the Houston office market slowed last quarter to 1.7 million square feet from 1.9 million sf in the third quarter, according to Cushman & Wakefield. For all of last...
San Antonio Business Journal SageView Partners has bought Westridge One and Two, a pair of office buildings totaling 258,959 square feet in San Antonio. The local private equity real estate firm purchased the buildings from Oxford Properties of...
Commercial Observer Wells Fargo Bank has provided $190 million of mortgage financing against the Ink Block and 7INK, a pair of apartment properties with 495 units in Boston. CBRE arranged the floating-rate financing. The 315-unit Ink Block, at...
Commercial Real Estate Direct Staff Report The New York City Council failed to muster the votes needed to override former Mayor Eric Adams' veto of the New York Community Opportunity to Purchase Act, or COPA, that would have...
Denver Business Journal A venture of CP Group and Time Equities has paid $47.5 million, or $51.08/sf, for Denver Place, a 930,000-square-foot office property in downtown Denver. CP, of Boca Raton, Fla., and Time, of New York, acquired...
Austin Business Journal Centurion Property Group has bought Arba San Marcos, a 748-bed student-housing complex in San Marcos, Texas. The Miami company purchased the 240-unit property from Palatine Capital Partners, also of Miami, in a deal brokered by...
Commercial Real Estate Direct Staff Report Lone Star Funds' $130.6 million purchase of the $240 million mortgage against the 359,883-square-foot 600 California St. office building in San Francisco resulted in a $144.03 million loss to the CMBS trust...
Citibank has provided $690 million of financing against a portfolio of 13 apartment properties with 4,077 units throughout Florida, Kentucky, South Carolina, Tennessee, and Texas. Newmark arranged the loan, which is expected to be securitized, on behalf of...
Dwight Mortgage Trust has provided $67.5 million of financing against the 260-unit Elements at Saratoga Lake townhome-apartment community in Saratoga Springs, N.Y. The property was developed in 2024 at 1 Forest Ridge Blvd. by Blue Iron Development of...
Asana Partners has paid $51 million, or $644.69/sf, for Gateway Center, a 79,108-square-foot retail center in Mission Viejo, Calif. The Charlotte, N.C., investment manager acquired the property, at 23972-24042 Alicia Parkway, in an all-cash deal from DJM Capital...
Crain's New York Business Tishman Speyer is in advanced talks to purchase the 1.2 million-square-foot Chrysler Building in Manhattan. The New York investor would acquire the property from Cooper Union, which last year hired Savills to market the property...
Commercial Real Estate Direct Staff Report Last year, 402,175 apartment units were delivered across the country, according to Cushman & Wakefield. At the same time, 355,628 units were absorbed, marking the fourth year in a row in which...
LaSalle Investment Management has paid $50 million, or $114.49/sf, for Bullitt II Logistics Center, a 436,716-square-foot industrial property in Shepherdsville, Ky., a southern suburb of Louisville, Ky. The Chicago investment manager acquired the property, at 251 Buffalo Run...
Greystone has provided $49.2 million of Fannie Mae mortgage financing against the 150-unit SoNo Central apartment property in Norwalk, Conn. The loan has a 10-year term and requires only interest payments for its first three years, after which...
Class Amt $mln Sub Level % Avg Life (yrs) Rating Moody's Rating Fitch Rating KBRA Price % Yield % Final Pricing (bp) Bnch mrk A-1 4.49 30.00 2.36 Aaa AAA AAA J-spread A-2 150.00 30.00 4.72 Aaa...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
