Government Agency Relocating D.C. Offices, Taking Less Space
April 25, 2024
400,000-SF Industrial Project Planned for Silver Spring, Md.
April 25, 2024
RECENT HEADLINES
Government Agency Relocating D.C. Offices, Taking Less Space
April 25, 2024
400,000-SF Industrial Project Planned for Silver Spring, Md.
April 25, 2024
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More Space Added to San Francisco’s Sublease Market; Vacancy Rate Continues to Rise
The San Francisco office market had 800,000 square feet of office space added to its sublease market last quarter, bringing the total amount of available space to 7.8 million sf, according to...
Read moreREGIONAL DIGESTS
WATCHLIST
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Argentic Takes Jacksonville’s Wells Fargo Center Office Building
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214,000-SF Office Building in Addison, Texas, to be Offered at Foreclosure Auction
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Owner of Dallas-Area Office Complex Hit with Foreclosure Suit
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D.C. Apartment Property with 110 Units to be Sold at Auction
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Foreclosure Scheduled for 164,407-SF Office Property in Alexandria, Va.
RECENT NEWS
Argentic Lends $29Mln Against South Jersey Apartment Property
Argentic Investment Management has provided a $29 million bridge loan against Mi-Place at Brightmoor, a 312-unit apartment property in Sicklerville, N.J. CBRE arranged the three-year loan on behalf of the owner, Fernmoor Homes of Jackson, N.J. The three-story...
Argentic Takes Jacksonville’s Wells Fargo Center Office Building
Jacksonville Business Journal Argentic Investment Management has taken control of the Wells Fargo Center, a 653,919-square-foot office building in downtown Jacksonville, Fla. The New York company also took a nine-level parking garage at 1 West Bay St. and...
Developer Pays $61.23Mln for Office Building in Miami’s Brickell Financial District
South Florida Business Journal An affiliate of JDS Development Group has bought 888 Brickell St., a 115,000-square-foot office building in Miami's Brickell Financial District, for $61.23 million, or about $532.43/sf. The New York developer purchased the nine-story property...
South Korean Investment Firm Backs Out of $145Mln Deal for L.A. Office
The Real Deal Consus Asset Management is said to have backed out from buying the 1 million-square-foot office tower at 777 South Figueroa St. in Los Angeles. The South Korean investment firm reportedly was paying $145 million, or...
Appraised Value of 345-Room Hotel in Chicago Drops Again
Commercial Real Estate Direct Staff Report The appraised value of the Hilton Suites Chicago Magnificent Mile, a 345-room hotel in Chicago, has been reduced to $61.9 million. That's down from the $63.1 million value pegged to it last...
Owner of Dallas-Area Office Complex Hit with Foreclosure Suit
Dallas Business Journal Pinnacle Bank has filed a foreclosure suit against Opal Holdings, claiming the New York company defaulted on its $40 million loan against the Centerpoint office complex in the Dallas suburb of Arlington, Texas. Opal had...
Buyer of Bethesda, Md., Apartments Lines Up $34.5Mln Freddie Loan
Corner Lot Advisors has lined up $34.5 million of Freddie Mac financing for its purchase of the 245-unit apartment building at 8200 Wisconsin Ave. in Bethesda, Md. Lument of New York provided the fixed-rate loan, which has a...
SL Green to Sell Manhattan’s 719 Seventh Ave. for $30.5Mln
Commercial Real Estate Direct Staff Report SL Green Realty Corp. has struck a deal to sell the 10,400-square-foot retail building at 719 Seventh Ave. in the Times Square section of Manhattan for $30.5 million, or about $2,933/sf. The...
Bushburg to Pay $160Mln for 1.2Mln-SF Office Building in Downtown Manhattan
The Real Deal Bushburg has agreed to pay $160 million, or $133.33/sf, for the 1.2 million-square-foot office property at 80 Pine St. in Manhattan's Financial District. The New York investor is buying the property from Rudin Management, also...
SL Green to Sell Palisades, N.Y., Event Space for $26.25Mln
Commercial Real Estate Direct Staff Report SL Green Realty Corp. has stuck a deal to sell the Palisades Premier Conference Center, with 48,000 square feet of event space in Palisades, N.Y., for $26.25 million, or $546.88/sf. The pending...
Stephen Zsigary to Replace Rob Hays as Next CEO of Ashford Hospitality
Stephen Zsigary has been named president and chief executive of Ashford Hospitality Inc. Zsigary, who is currently the Dallas REIT's senior vice president of corporate finance and strategy, is replacing Rob Hays, who is stepping down from both...
South Florida Office Complex Sells as 45 Percent Discount
South Florida Business Journal YMP Real Estate Management has bought the Miramar Parkway Collection, a 373,228-square-foot office complex in Miramar, Fla., for $45 million, or about $120.57/sf. The Lauderdale Lakes, Fla., investment and real estate company purchased the...
Abacus Capital Buys Sherman Oaks, Calif., Apartment Property for $72.5Mln
The Real Deal Abacus Capital Group has paid $72.5 million, or $307,203/unit, for the Veda, a 236-unit apartment complex in Sherman Oaks, Calif. The New York investment manager purchased the property from Alliance Residential Co. JLL Real Estate...
596,383-SF Office Building in Tampa, Fla., May Get New Owner
Tampa Bay Business Journal The buzz is that Brookdale Group is buying 100 North Tampa, a 596,383-square-foot office building in downtown Tampa, Fla. The Atlanta company is believed to be paying $150 million, or about $251.52/sf, for the...
Carlyle Buys Brooklyn, N.Y., Self-Storage Facility for $25.6Mln
Commercial Real Estate Direct Staff Report The Carlyle Group has paid $25.6 million, or $457,143/unit, for the 56-unit self-storage facility at 145 18th St. in the Prospect Park section of Brooklyn, N.Y. The Washington, D.C., investor bought the...
Bozzuto Pays $44.5Mln for 132-Unit Apartment Property in Arlington, Va.
Commercial Observer Bozzuto has paid $44.5 million, or $337,121/unit, for Gables 12 Twenty One, a 132-unit apartment property in Arlington, Va., about four miles west of Washington, D.C. The Greenbelt, Md., investor bought the four-story property from Gables...
853,000-SF Mall in Huntington Beach, Calif., Comes to Market
The Real Deal A venture of DJM Capital and PGIM Real Estate is offering for sale the 853,000-square-foot Bella Terra Mall in Huntington Beach, Calif. DJM, of San Jose, Calif., and PGIM, of Newark, N.J., has hired Eastdil...
Appraised Value of Ga. Mall Less Than Securitized Loan’s Balance
Commercial Real Estate Direct Staff Report The appraised value of the Augusta Mall, a 500,222-square-foot retail property in Augusta, Ga., has been reduced to $159.3 million. That's down from the $250 million appraised value pegged to the mall...
Seagis Gets $81Mln Loan for Industrial Property Next to Newark, N.J., Airport
Seagis Property Group has lined up $81 million of financing against the 224,900-square-foot industrial property at 100 Frontage Road in Newark, N.J. JLL Capital Markets arranged the financing, which pays only interest for the life of its five-year...
Hillwood Affiliates Buy Dallas-Area Office Portfolio
Dallas Business Journal Affiliates of Hillwood Development Co. have purchased a portfolio of four office buildings totaling about 518,000 square feet in the Dallas suburb of Irving, Texas. The Dallas development and investment company purchased the portfolio from...
Maturity Extension Granted for $190.1Mln Loan Against Manhattan’s 185 Broadway
Commercial 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...
Springer Capital Pays $240.2Mln for S.C. Apartment Portfolio
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...
$254.9Mln of CMBS Debt Against R.I. Mall Transferred to Special Servicing
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...
380-Unit Apartment Property in Nashville, Tenn., Fetches $51.8Mln
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...
Buyer of Oxnard, Calif., Retail Center Scores $54Mln Loan
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...
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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.
