The volume of CMBS loans that are more than 30 days late with their payments spiked in March by $3.08 billion, to $45.83 billion, marking the largest one-month increase in delinquency volume...
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Crain's Chicago Business Braemar Hotels & Resorts is offering for sale Sofitel Chicago Magnificent Mile, a 415-unit hotel in the city's Gold Coast neighborhood. The Dallas REIT, formerly known as Ashford Hospitality Prime Inc., hired JLL to market...
Commercial Real Estate Direct Staff Report Morningstar DBRS estimates that the three Club Quarters hotels in Chicago, San Francisco, and Philadelphia that back a $240.7 million mortgage securitized through BX Trust, 2017-CQHP, would recover only $142.7 million in...
Commercial Real Estate Direct Staff Report Capital Group has agreed to pay $210 million, or $150/sf, for Los Angeles' Bank of America Plaza, a 1.4 million-square-foot office property in the city's downtown. The financial services company, the building's...
Commercial Real Estate Direct Staff Report White Lodging has paid $27.75 million, or $78,612/room, for the 353-room Sheraton Raleigh Hotel in the city's downtown area. The Merrillville, Ind., hotel management company purchased the property from an affiliate of PM...
Commercial Real Estate Direct Staff Report Cottonwood Group has provided $102 million of financing for the construction of the 216-room Kimpton Hotel in downtown Salt Lake City. Walker & Dunlop arranged the loan on behalf of Domain Cos....
Northwind Group has provided a $50 million construction loan for the proposed 34-unit residential condominium project at 10 West 17th St. in Manhattan's Flatiron area. The project is being developed by Prosper Property Group of New York on...
Jacksonville Business Journal An affiliate of U.S. Realty Advisors has paid $66.9 million, or $436.87/sf, for the 153,136-square-foot industrial building at 4125 West Cisco Drive in Jacksonville, Fla. The New York company purchased the property from its developer,...
The Real Deal Seagis Property Group has bought the 200,000-square-foot industrial property at 9500 NW 108th Ave. in Medley, Fla., for $48.8 million, or $244/sf. The Conshohocken, Pa., company purchased the warehouse from local clothing supplier Intradeco Apparel, a...
Bank Hapoalim and Naftali Credit Partners have provided $203 million of financing for the conversion of Manhattan's Candler Building into 176 apartment units. The 221,357-square-foot office building, at 221 West 41st St., is being redeveloped by Yellowstone Real...
Sonnenblick-Eichner Co. has arranged an $80 million mortgage against the 162,031-square-foot Del Rey Campus office property in the West Los Angeles area of Marina del Rey, Calif. The loan, which requires only interest payments for its five-year term,...
Commercial Real Estate Direct Staff Report A venture led by Terrace Group has paid $29.63 million, or $109.73/sf, for the 270,022-square-foot River Tech Workplace industrial-flex property in Fridley, Minn., a northern suburb of Minneapolis. Terrace, of St. Paul,...
Commercial Real Estate Direct Staff Report Acacia Capital Corp. has paid $183 million, or $639,860/unit, for the 286-unit Sofia apartment property in the San Francisco Bay Area city of Santa Clara, Calif. The San Mateo, Calif., investment manager...
Commercial Observer A venture led by Patriot Real Estate Holdings has paid $40.5 million, or $810.79/sf, for the 49,951-square-foot office property at 168 Canal St. in Manhattan's Chinatown area. Patriot Real Estate, of Nashville, Tenn., teamed with investors...
South Florida Business Journal Maxx Properties has bought Bell at Plantation, a 250-unit apartment complex in Plantation, Fla., for $70 million, or $280,000/sf. The Purchase, N.Y., company acquired the property from Bell Partners of Greensboro, N.C., which had bought...
South Florida Business Journal An affiliate of Link Logistics has paid $163.1 million, or $261.69/sf, for a portfolio of four industrial buildings in Pompano Beach, Fla. The industrial real estate arm of Blackstone bought the portfolio from Clarion...
Commercial Property Executive Equus Capital Partners has bought the Greylyn Business Park, a 648,060-square-foot industrial complex in Charlotte, N.C., for $102 million, or $157.39/sf. The Newtown Square, Pa., company purchased the 19-building property from Weston of Cleveland, which...
Commercial Observer Industrious has signed four leases totaling 124,500 square feet of office space in Manhattan. The coworking company signed a lease for 43,000 sf at 110 East 42nd St., 33,000 sf at 609 Greenwich St., 24,500 sf...
Commercial Real Estate Direct Staff Report TruAmerica Multifamily has paid $116.23 million for two apartment properties with 157 units in Los Angeles. The Los Angeles investment manager bought the 97-unit Haven at 11924 West Washington Blvd. from Cityview,...
Provident Industrial has sold the Red Bluff Distribution Center, a 162,180-square-foot industrial building in Houston. The industrial unit of Provident Realty Advisors of Dallas completed the property's development last summer. The buyer could not be determined immediately. The...
Commercial Observer Madison Realty Capital has provided a $90 million loan against the 300-unit Clifton & Co. apartment property in the northeast New Jersey city of Clifton. Newmark arranged the financing. The three-story property, at 691 Clifton Ave.,...
Derby Lane Partners has provided $175 million of financing to fund the conversion of the 400,000-square-foot office property at 80 Broad St. in Lower Manhattan into 326 apartment units. The property is being converted by a venture of...
Commercial Real Estate Direct Staff Report An affiliate of Noble Investment Group has paid $37.4 million, or $174,766/room, for the 214-room Renaissance Reno Downtown Hotel in Reno, Nev. The Atlanta investor acquired the property, at 1 Lake St.,...
Commercial Real Estate Direct Staff Report The $425 million CMBS loan against the 1.19 million-square-foot JACX office complex in Queens, N.Y., is unlikely to get refinanced by its September maturity. As a result, the loan, securitized through BAMLL...
A venture of Bulldog Real Estate Partners and Acram Group has paid $46 million, or $460/sf, for the 100,000-square-foot office property at 88 University Place in Manhattan's Greenwich Village area. The venture acquired the property from CIM Group, which...
Commercial Real Estate Direct Staff Report Outlet Shoppes at Gettysburg, a 249,937-square-foot retail property in Gettysburg, Pa., was reappraised at the end of last year at a value of $14.8 million. CBL & Associates Properties Inc. owns the...
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