The hotel sector has been, well, on fire since Covid restrictions were lifted and the national economy was flush with capital, thanks in part to the federal government's largesse. But there are...
Read moreThe Real Deal TZ Capital has paid $180 million, or $5,294/sf, for 680 Madison Ave., a 34,000-square-foot retail property in midtown Manhattan. The West Palm Beach, Fla., investor, bought the property from Thor Equities of New York, which...
MetLife has provided $55.6 million of short-term financing against the 220-unit Arcadia Gardens, an age-restricted apartment property in Palm Beach Gardens, Fla. The three-year loan was arranged by Aztec Group of Miami. Arcadia Gardens was developed by a...
Bank OZK has provided $93 million of financing for the development of Matrix Logistics Park-Mount Olive, a 781,748-square-foot industrial project in the northern New Jersey township of Mount Olive. The property, at 2000 and 3000 Continental Drive, will...
Northmarq has moved into the investment management business. The commercial real estate capital markets company, which helps clients raise equity and debt for their properties, has acquired Morrison Street Capital. The Lake Oswego, Ore., company manages a series...
Washington Business Journal An affiliate of Amazon.com Inc. has paid $218 million for a development site at 14237 and 14209 Dumfries Road in Manassas, Va., that's approved for a data center. The e-commerce retailer's data-center arm, Amazon Data Services...
Commercial Observer The $315 million loan against the 760,000-square-foot office building at 340 Madison Ave. in midtown Manhattan has defaulted and now faces a potential foreclosure. The 22-story property, between 43rd and 44th streets, is owned by RXR...
Commercial Real Estate Direct Staff Report Goldman Sachs has provided $82.46 million of financing against the 274,758-square-foot Sunroad Centrum office building in San Diego. JLL Capital Markets arranged the five-year loan on behalf of the property's owner, Sunroad...
Commercial Real Estate Direct Staff Report BH Properties has acquired Pacific Place, a 335,000-square-foot retail center in Seattle. The purchase price could not yet be learned. The Los Angeles investor purchased the property from Madison Marquette, which had...
Commercial Real Estate Direct Staff Report Cardinal Group has paid $31.4 million, or $153,921/unit, for the Flats at Norman, a 204-unit student-housing property in Norman, Okla. The Glendale, Colo., investment firm purchased the property from Horizon Realty Advisors,...
Commercial Real Estate Direct Staff Report The 69,392-square-foot office building at 379 West Broadway in Manhattan's SoHo area lost WeWork Inc. as a tenant in March. That would reduce the building's occupancy rate to 13 percent, putting the...
Crain's Chicago Business Next Realty is offering for sale Lincolnshire Commons, a 133,024-square-foot retail center in Lincolnshire, Ill., about 32 miles north of Chicago. The Skokie, Ill., company has hired JLL to market the property, which it had...
The Real Deal Rexford Industrial Realty has paid $94.2 million, or $337.63/unit, for the 279,000-square-foot industrial property at 1901 East Rosslynn Ave. in Fullerton, Calif. The Los Angeles REIT purchased the property from American Realty Advisors, which had...
Commercial Real Estate Direct Staff Report JPMorgan Chase Bank and alternative lender 3650 REIT have provided $62 million of financing against the Columbus Business Park, a 2.18 million-square-foot industrial property in Columbus, Ohio. The five-year loan requires only...
Commercial Real Estate Direct Staff Report The Herald Center mixed-use property, with 249,063 square feet in Manhattan, has had its appraised value lowered by 52 percent to $276 million. That's just $31 million more than is owed against...
Commercial Real Estate Direct Staff Report The $20.65 million of CMBS financing against Cascade Station I & II, a 127,718-square-foot office property in Portland, Ore., has been sent to special servicing as it wasn't paid off at its...
Commercial Real Estate Direct Staff Report The $168.5 million CMBS loan against the 536,520-square-foot office property at 522 Fifth Ave., which hasn't received a payment since January, has transferred to special servicing. In addition, the collateral property hasn't...
Commercial Real Estate Direct Staff Report Los Angeles' Gas Co. Tower, with 1.38 million square feet of office space, has been appraised at a value of $214.5 million. The latest appraisal, highlighted in a CMBS Newsflash by Morningstar...
Commercial Real Estate Direct Staff Report Developer Chesapeake Real Estate Group is turning its sights to buying existing industrial, office and retail properties. The Baltimore-area company, which has completed more than 45 properties with 15 million square feet...
The Real Deal Monarch Alternative Capital has taken a stake in the limited liability company that owns Pendry West Hollywood, a 149-room hotel and 40-unit condominium property at 8430 Sunset Blvd. in West Hollywood, Calif. That LLC is...
Houston Business Journal The 284,896-square-foot office building at 2425 West Loop South in Houston is being offered for sale at a bankruptcy auction. Hilco Real Estate Sales of Northbrook, Ill., is overseeing the auction. Bids for the 11-story...
Commercial Real Estate Direct Staff Report Bernstein Management Corp. has paid $64 million, or $231,884/unit, for The Argonne, a 276-unit apartment property in Washington, D.C. The local investment manager, which owns more than 5,300 units in the greater...
Commercial Real Estate Direct Staff Report Bell Partners has paid $146.5 million, or $297,764/unit, for the 492-unit Silverado Apartment Homes in Murrieta, Calif. The Greensboro, N.C., investment manager purchased the property through its Value Add Fund VIII investment...
Commercial Real Estate Direct Staff Report Procaccianti Hotel REIT Inc. has lined up $23.67 million of financing from Liberty Bank, allowing it to refinance a pair of CMBS loans totaling $23.03 million against a pair of its hotels,...
Commercial Real Estate Direct Staff Report The $95 million that a venture led by Quadrangle Development Corp. had paid for 1099 New York Ave. NW in Washington, D.C., results in a capitalization rate of 8.59 percent, based on the...
Commercial Real Estate Direct Staff Report The 740,387-square-foot office building at 1440 Broadway in midtown Manhattan has had its appraised value lowered to $320 million as of last month, from the $540 million value pegged to it three...
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