The General Services Administration recently found that none of the 9,766 buildings the government occupies meet the 60% utilization threshold mandated by the USE IT Act, which could accelerate its property disposition...
Read more
Commercial Real Estate Direct Staff Report USBank has provided $40 million of financing against the 318,683-square-foot Chandler Airport Business Park industrial complex in Chandler, Ariz. The loan, filed with Maricopa County, Ariz., allowed the property's owner, CapRock Partners,...
Commercial Real Estate Direct Staff Report CBL & Associates Properties Inc. has lined up a $43 million mortgage from Bank of Montreal against the 403,671 square feet of retail space that it owns at the 748,094-sf Northwoods Mall...
South Florida Business Journal Joe Lubeck, chief executive of American Landmark Apartments, has bought the Embassy Suites by Hilton Palm Beach Gardens PGA Boulevard hotel in Palm Beach Gardens, Fla., for $40 million, or $250,000/room. Lubeck purchased the 160-room...
Commercial Real Estate Direct Staff Report Fairfield Residential has paid $109.99 million, or $555,505/unit, for the 198-unit Resort at Encinitas apartment property in the San Diego suburb of Encinitas, Calif. The San Diego investor acquired the property, at...
Federated Hermes Inc. has purchased an 80% stake in multifamily investment manager FCP for $331 million, including $92 million in a potential earnout payment. The acquisition sharply expands real estate as an asset class for Federated Hermes, a...
The Real Deal David Werner Real Estate Investments has agreed to pay about $40 million, or $207.25/sf, for the 193,000-square-foot office property at 311 West 43rd St. near Times Square in Manhattan's Hell's Kitchen area. The New York...
Hoodline Gindi Capital has paid $55 million, or $337.42/sf, for the 163,000-square-foot office property at 25 Elm Place in downtown Brooklyn, N.Y. The Gindi family office—Ralph Gindi founded the Century 21 department store chain in 1961—bought the 106-year-old...
Crain's Chicago Business Barings has provided $156.7 million of financing to facilitate Onni Group's purchase of the 1.1 million-square-foot office property at 161 North Clark St. in Chicago. Onni, of Vancouver, British Columbia, paid $125 million, or $113.64/sf,...
Commercial Real Estate Direct Staff Report JPMorgan Chase Bank has agreed to provide $282.5 million of mortgage financing against the 825,905-square-foot office property at 1325 Ave. of the Americas in Manhattan. The five-year loan is slated to be...
Commercial Real Estate Direct Staff Report Whitestone REIT, which owns 56 community shopping centers with 4.9 million square feet in Texas and Arizona, has struck a deal to be acquired by Ares Real Estate Management for $19/share in...
South Florida Business Journal An affiliate of Nuveen Real Estate has bought Coral Landings III, a 172,526‑square‑foot shopping center in Margate, Fla., for $46.3 million, or $268.37/sf. The Chicago company purchased the retail property from Sterling Organization of...
Commercial Real Estate Direct Staff Report BKM Capital Partners has paid $43 million, or $185.34/sf, for the 232,000-square-foot Northwest Business Park industrial property in Phoenix. The Newport Beach, Calif., investment manager acquired 11-building property, at 2310-2440 West Mission...
Commercial Real Estate Direct Staff Report Concerns of an oversupply of multifamily units and the impact it might have on property fundamentals have pushed the major apartment REITs to pull back on development in 2026. That's according to...
Charlotte Business Journal CBRE has been tapped to market for sale the Queen City Quarter mixed-use complex in Charlotte, N.C. The property, formerly known as the EpiCentre, is being marketed on behalf of CWCapital Asset Management, special servicer for...
South Florida Business Journal Welltower Inc. has purchased the Arbor at Lake Worth, a 377‑unit assisted-living facility in Lake Worth, Fla., for $87.2 million, or about $231,300/unit. The Toledo, Ohio, company bought the property from Focus Healthcare Partners...
Commercial Real Estate Direct Staff Report Beal Bank has provided $176 million of non-recourse mortgage financing against four retail properties owned by CBL & Associates Properties Inc., allowing the Chattanooga, Tenn., REIT to completely refinance what had been...
Crain's Chicago Business Standard Real Estate Investments and Belay Investment Group has paid $61 million, or $238,281/unit, for Martin's Point, a 256-unit apartment property in the Chicago suburb of Lombard, Ill. Standard and Belay, both of Los Angeles,...
Commercial Observer MF1 Capital has provided $170 million of financing for the completion of the 354-unit apartment property at 2366 Bedford Ave. in the Flatbush neighborhood of Brooklyn, N.Y. The property, which is set to open this year,...
National Life Group has provided $26.75 million of financing against the 90-unit 8th & U Apartments in San Diego. Northmarq arranged the three-year loan, which can be extended. The property, at 3843 8th Ave., was developed last year...
The Real Deal A venture of Metro Loft Management and Quantum Pacific Group has agreed to pay about $100 million, or $262.54/sf, for One Whitehall St. in Lower Manhattan, with plans to convert the 380,895-square-foot office building into...
Charlotte Business Journal Ares Management Corp. is offering for sale ThExchange, a 568,811-square-foot office complex in Charlotte, N.C. The Los Angeles investment manager has tapped CBRE to market the 14-building property. It took title to the property in...
Denver Business Journal The Dinerstein Cos. has paid $137.3 million, or $629,816/unit, for Steele Creek, a 218-unit apartment property in Denver. The Houston investment firm acquired the property, at 3222 East 1st Ave., from UDR Inc., which bought...
QuadReal Property Group has provided $144 million of financing for the construction of Carina, a 408-unit apartment property in Santa Ana, Calif. JLL arranged the three-year loan, which pays a floating-rate coupon, on behalf of the property's developer,...
Commercial Real Estate Direct Staff Report Aurora Capital Associates has paid $54 million, or $675/sf, for the 80,032-square-foot Scribner Building and its neighboring Redfern Building in Midtown Manhattan. The Cayre family office, which is led by Robert Cayre,...
Bisnow Allan Bailey Johnson Group has paid $134 million, or $500/sf, for the 268,000-square-foot FBI Boston Division headquarters building at 201 Maple St. in Chelsea, Mass. The agency relocated to the eight-story building from Boston nine years ago....
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.
