Commercial Real Estate Direct Staff Report Washington Capital Management Inc. has paid $41 million, or $1,901/sf, for the 21,565-square-foot retail portion of 500 North Michigan Ave. in Chicago. The Seattle investment manager bought the space from an investor...

Washington Business Journal KBS REIT III is offering for sale 3001 and 3003 Washington Blvd., a pair of office buildings totaling 305,890 square feet in Arlington, Va. The Newport Beach, Calif., REIT has tapped Newmark to market the...

The venture of Rabina and New Blueprint Partners that's developing the VIC apartment property in Vancouver, Wash., has lined up $75 million of construction financing for the 250-unit project. The loan was arranged by JLL Capital Markets. The apartment...

Commercial Real Estate Direct Staff Report The $135.98 million CMBS loan against the Poughkeepsie Galleria shopping mall in suburban New York has once again transferred to special servicing. It marks the second time the loan has been in...

Crain's Chicago Business R.I.G. Capital has paid $167 million, or $149,775/unit, for the 1,115-unit Pavilion Apartments in Chicago, near O'Hare International Airport. The local investment firm acquired the property, at 5441 North East River Road, from Brookfield Asset...

Baltimore Business Journal Reisterstown Shopping Center in the Baltimore suburb of Reisterstown, Md., has changed hands for $40.6 million, or just more than $266/sf. The 159,522-square-foot property, at 11989 Reisterstown Road, was purchased by a venture of Rappaport...

Boston Business Journal An affiliate of Elliott Management has paid $124 million, or $512,397/room, for The Godfrey Hotel, a 242‑room property in Boston. The West Palm Beach, Fla., investment firm acquired it from Union Investment, a German asset...

Denver Business Journal Ares Management Corp. has paid $64.7 million, or $227.82/sf, for Verve Commerce Center, a two-building industrial property with 284,000 square feet in Broomfield, Colo., a northern suburb of Denver. The Los Angeles investment manager acquired...

Commercial Real Estate Direct Staff Report The Vornado Realty Trust venture that owns the 194,000-square-foot office building at 61 Ninth Ave. in Manhattan's Chelsea neighborhood has lined up a $161 million mortgage from UBS. Vornado owns the eight-year-old...

A venture led by CenterSquare Investment Management has paid $17.15 million, or nearly $161/sf, for the 106,643-square-foot Philips Highway Industrial Park in the Southside area of Jacksonville, Fla. The Conshohocken, Pa., investment manager bought the 10-building property from...

Commercial Real Estate Direct Staff Report The freestanding Lord & Taylor store in the Westchester County, N.Y., town of Scarsdale has been sold for $79.6 million, or nearly $401/sf. The 198,523-square-foot property, on 11 acres at 750 White...

Dwight Capital has originated a $130 million loan under the U.S. Department of Housing and Urban Development's 223(f) program against the 358-unit Gardens Residences in downtown North Miami. The loan allowed the property's developer, Omega Real Estate Management...

Philadelphia Business Journal A venture of Finmarc Management and KPR Centers is offering for sale Providence Town Center, a 760,000‑square‑foot shopping center in Collegeville, Pa. CBRE has the listing for the retail property, which sits on an 82‑acre...

Nashville Business Journal Cushman & Wakefield has been tapped to market for sale the Radius Building, a 265,000‑square‑foot office property in Nashville, Tenn. Rubicon Equities owns the 10-story building at 601 11th Ave. North in the city's Capitol...

Washington Business Journal The NHP Foundation has paid $53.7 million, or $246,330/unit, for Hadley Germantown, a 218‑unit affordable-housing complex in Germantown, Md., about 25 miles northwest of downtown Washington, D.C. The New York nonprofit acquired the apartment property...

Charlotte Business Journal Miramar Capital has paid $55.8 million, or $315,254/unit, for a pair of build‑to‑rent townhome communities with a total of 177 units in Charlotte, N.C. The Los Angeles investment firm purchased the properties from Hopper Communities...

Boston Business Journal Boylston Properties has paid $46 million, or $292.99/sf, for a 157,000‑square‑foot office property at 30‑44 Washington St. in Wellesley, Mass. The Boston company purchased the five‑building complex from the Haynes family, which had owned it...

PCCP has provided $130 million of senior financing for the construction of a 304-unit apartment property and adjoining 47,892-square-foot grocery store in the Mott Haven area of the Bronx, N.Y. The property, dubbed The 360, is being developed...

Commercial Real Estate Direct Staff Report The Hagerstown Premium Outlets retail property in the Maryland panhandle has had its appraised value reduced for the fourth time since its CMBS loan got into hot water in 2020. The 484,994-square-foot...

Crain's Chicago Business Ansonia Properties has paid $91 million, or $258,522/unit, for Villages at Canterfield, a 352-unit apartment property in Dundee, Ill., a western suburb of Chicago. The Chicago real estate firm acquired the property from VennPoint Real...

Commercial Real Estate Direct Staff Report The Heinz 57 Center office and retail building in downtown Pittsburgh has been reappraised at a value of only $19.8 million. The 14-story building was constructed in 1913 at 339-357 6th Ave....

Commercial Real Estate Direct Staff Report Drawbridge Realty has paid $255 million, or $497/sf, for the 513,000-square-foot Bridgestone Tower in downtown Nashville, Tenn. The San Francisco investment manager bought the 30-story property from Highwoods Properties Inc., a Raleigh,...

Universe Holdings Development has paid $28 million, or $538,462/unit, for the 52-unit Park Encino apartment property in the Los Angeles suburb of Encino, Calif. The Los Angeles investment manager bought the 12-year-old property from affiliates of Blackstone Property...

Commercial Real Estate Direct Staff Report The Macerich Co. venture that owns the Deptford Mall in the southern New Jersey township of Deptford paid off the property's $131.74 million mortgage when it matured last month. The loan, securitized...

Commercial Real Estate Direct Staff Report Berkadia has provided $30 million of Fannie Mae financing against the 166-unit Havenly Superstition apartment property in Apache Junction, Ariz. The seven-year loan pays a fixed coupon and requires only interest payments....