KeyBank, special servicer of what had been a $285 million CMBS loan against the 248,457 square feet of retail space at 229 West 43rd St. in Manhattan's Times Square area, has hired...
Read moreCommercial Real Estate Direct Staff Report Net Lease Office Properties has sold the two-building office property at 1800 and 3400 Yankee Doodle Road in the Minneapolis suburb of Eagan, Minn., for $60.7 million, or $174.69/sf. The New York...
Portland Business Journal Park Square, a 296,000-square-foot office property in Portland, Ore., is scheduled to be offered at a foreclosure auction on Oct. 30. The property, at 100 SW Market St., is encumbered by a $40.3 million loan...
Pinnacle has lined up $47.3 million of financing for the construction of the 120-unit second phase of the Old Cutler Village affordable-housing complex at 10455 Old Cutler Road in Miami. Pinnacle, a Miami developer, lined up a $9.1...
Commercial Real Estate Direct Staff Report The Kingswood Center mixed-use property in Brooklyn, N.Y., has had its appraised value reduced by 49 percent to $49.5 million. The 129,028-square-foot mixed-use property, at 1630 East 15th St., which is owned...
Commercial Observer Stillwater Capital has lined up $55.3 million of financing against Crystal Springs, a 387-unit apartment property in downtown Fort Worth, Texas. Affinius Capital provided the loan. The two-building property opened last year at 5332 Trinity River...
Blackstone Mortgage Trust Inc., the country's largest mortgage REIT, has formed a partnership with M&T Realty Corp., giving it the ability to offer its borrower clients agency financing for their apartment properties. M&T, a unit of M&T Bank,...
Commercial Observer Goldman Sachs has provided $120 million of financing to fund TZ Capital's $180 million purchase of the 34,000 square feet of retail space at 680 Madison Ave., the former Carlton House building on Manhattan's Upper East...
Beach Point Capital Management has provided $39.6 million of short-term financing, allowing Basis Industrial to refinance a loan against a 60,000-square-foot warehouse in Armonk, N.Y., and its planned development of a self-storage facility and pickleball facility on an...
Multi-Housing News A venture of Accesso and The Meyers Group has lined up $88 million of financing against Avery Dania East, a 336-unit apartment complex in Dania Beach, Fla. BlackRock Realty Advisors provided $80 million, while SteepRock provided...
Dallas Business Journal The 381-unit 3700M apartment building in Dallas is expected to be offered at a July 2 foreclosure auction, according to a notice filed this week with Dallas County. Vero Sade of Houston bought the property...
Commercial Real Estate Direct Staff Report A fund managed by Blue Owl Capital has paid $35.5 million, or $390.66/sf, for the 90,871-square-foot research and development property at 1010 Rincon Circle in San Jose, Calif. The price was first...
Knighthead Funding has provided $22 million of financing against The Luna, a recently completed apartment property with 108 units in Nashville, Tenn. The two-year loan, which pays a fixed coupon, allows the property's developer, CA South of Nashville,...
ConnectCRE BlackRock's US Real Estate Debt team has provided $38.5 million of financing to facilitate the purchase of Chandler Airport Business Park, a 318,683-square-foot industrial property in Chandler, Ariz. Cushman & Wakefield arranged the floating-rate debt. CapRock Partners...
Thompson Thrift has raised $270 million of equity commitments for an investment vehicle that will fund the development and construction of apartment properties in certain suburban markets across the country. The Indianapolis investment manager was founded by John...
Commercial Real Estate Direct Staff Report Apollo Realty Income Solutions Inc. has paid $58 million, or nearly $82/sf, for a recently completed industrial building within the I-269 Industrial Park in the Memphis, Tenn., suburb of Byhalia, Miss. The...
Class Amt $mln Sub Level % Avg Life (yrs) Rating Fitch Rating Moody's Rating Kroll Price % Yield % Final Pricing (bp) Bnch mrk A-1 6.68 30.00 2.75 AAA Aaa AAA 99.999 5.499 +85 J-spread A-2 65.79...
Commercial Real Estate Direct Staff Report The $124.21 million CMBS loan against the 249-room Royalton Park Avenue Hotel in Manhattan has reached its extended maturity without a payoff. So, it's been transferred to special servicer LNR Partners for...
Commercial Property Executive GPR Ventures has paid $42.7 million, or $127.20/sf, for Capitol Industrial Center North & South, a 335,701-square-foot industrial property in Sacramento, Calif. The Campbell, Calif., company purchased the property from BKM Capital Partners. City National...
Crain's New York Business The Vornado Realty Trust venture that owns the 315,000-square-foot office building at 640 Fifth Ave. in midtown Manhattan has paid off its $500 million mortgage, ponying up $100 million of fresh equity and a...
Commercial Real Estate Direct Staff Report The Commodity Futures Trading Commission's plan to relocate from the Lafayette Centre in Washington, D.C., has prompted the transfer of the office property's $243 million CMBS loan to special servicer Rialto Capital...
Class Amt $mln Sub Level % Avg Life (yrs) Rating Fitch Rating Moody's Rating DBRS Price % Yield % Final Pricing (bp) Bnch mrk A-1 0.925 30.00 2.51 AAA Aaa AAA J-spread A-2 55.00 30.00 4.67 AAA...
Commercial Real Estate Direct Staff Report Praedium Group has paid $64 million, or $264,462/unit, for Livano Deer Valley, a 242-unit apartment property in Phoenix. The New York investment manager purchased the property from its developer, LIV Development, in...
Commercial Real Estate Direct Staff Report Arbor Realty Trust has provided $23.08 million of Fannie Mae financing against the 194-unit North Mountain Foothills apartment property in Phoenix. Tower Capital arranged the loan on behalf of the property's owner,...
Alternative lender 3650 REIT has provided $50 million of financing to fund the completion of the 62-unit 1 Park Row residential condominium property in lower Manhattan. The Miami lender funded the loan through its bridge and event-driven lending...
Blue Arch Capital has paid $15.25 million, or $169.30/sf, for Doctors Medical Park, a 90,076-square-foot medical-office property in the Washington, D.C., suburb of Silver Spring, Md. The Aventura, Fla., investment manager bought the property from Medical Center Associates...
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