Vornado Realty Trust has secured $500 million of financing against Penn 11, a 1.2-million-square-foot office building in Manhattan. The interest-only loan, from an undisclosed lender, pays a coupon of Libor plus 275 basis points and matures in October...

Commercial Real Estate Direct Staff Report Prologis Inc. expects to add another $1.1 billion of industrial projects to its development pipeline this year, increasing its total for the year to as much as $2 billion. That is up...

Oak Coast Properties has paid $123.5 million, or $281,964/unit, for the 438-unit ArtWalk Apartments at City Center in the Denver suburb of Englewood, Colo. The Los Angeles apartment investor bought the 19-year-old property, at 801 Englewood Parkway, from...

Dallas Business Journal Brookwood Financial Partners is offering for sale Heritage One and Two, a pair of office buildings with a combined 367,364 square feet in Dallas. The Beverly, Mass., private equity firm has hired NKF to market...

Pricing Date: 19 Oct., 2020 Collateral balance: $903.49 million Trepp/BBG Ticker: BMARK 2020-B20 Bookrunner(s): Citigroup (37 percent of deal balance), Deutsche Bank (24 percent) Goldman Sachs (21.6 percent), JPMorgan Securities (17.4 percent) Lead Managers: Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan...

Commercial Real Estate Direct Staff Report JLL has provided $25.5 million of Freddie Mac financing against the 285-unit 49th Street Apartments in Pinellas Park, Fla., about 10 miles north of St. Petersburg, Fla. The loan allowed the property's...

Commercial Real Estate Direct Staff Report The Connor Group has paid $101.6 million, or $215,711/unit, for two apartment properties with a combined 471 units in Charlotte, N.C. The properties are the 266-unit Bexley Greenway at 8230 Greenway Village...

Commercial Real Estate Direct Staff Report The Starwood Capital Group venture that owns the Louis Joliet Mall in the Chicago suburb of Joliet, Ill., is negotiating a handover of the property through a deed-in-lieu of foreclosure to its...

CARROLL has acquired three apartment properties with a total of 1,598 units in the Atlanta area for $220 million. The Atlanta investment manager purchased the properties on behalf of Carroll Multifamily Venture VI LP, a $125.2 million investment vehicle...

Commercial Observer Nightingale Group has bought a 75 percent stake in the Whale Building in Brooklyn, N.Y., in a deal that values the 400,000-square-foot office property at $84.1 million. The New York investment manager bought the stake from...

Tom MacManus, a seasoned commercial mortgage lending professional, has been named president of alternative lender Money360. MacManus, who has been in the business for more than 30 years, previously was president of strategic accounts at A10 Capital, another alternative...

A venture between DRA Advisors and Prescott Partners has paid $130 million, or just more than $188/sf, for the 691,036-square-foot Nimbus Corporate Center in Beaverton, Ore. The flex-office property, with 16 buildings at 8910-9775 SW Gemini Drive and...

A venture of Ramsfield Hospitality Finance and funds managed by CarVal Investors has purchased a $31.48 million mezzanine loan supported by a portfolio of 11 Hilton-branded hotels with 2,034 rooms in Tennessee, Florida and Michigan. The loan was...

Commercial Real Estate Direct Staff Report A total of 16.1 million square feet of office leases were signed in Manhattan during the first three quarters of 2020, a 42.1 percent decline from the 27.8 million sf during the...

Western Wealth Capital has paid $117.5 million, or $178,300/unit, for the 659-unit Onnix apartment property in the Phoenix suburb of Tempe, Ariz. The Vancouver, British Columbia, investment manager bought the property, at 1500 East Broadway Road, from Bridge...

Commercial Real Estate Direct Staff Report A venture of Monday Properties and neo capital of London has paid $76 million, or about $326/sf, for the Shirlington Tower, a 233,446-square-foot office property in Arlington, Va. It acquired the eight-story...

Atlanta Business Chronicle LivCor, a unit of Blackstone Group, has bought Cortland Lex, a 360-unit apartment property in the Atlanta suburb of Alpharetta, Ga., for $87 million, or about $241,667/unit. Cortland, an Atlanta apartment company, sold the property,...

Marcus & Millichap Inc., as expected, has struck a deal to buy Mission Capital Advisors, giving it deep capabilities in the loan-sales market and bolstering its equity and debt placement abilities. "Mission's loan sales and consulting services will expand...

Prime Finance has provided $27.1 million of financing to facilitate Old Three Hundred Capital's purchase of the 230-unit Cannon Oaks Apartments in Austin, Texas. The loan was arranged by JLL Capital Markets. Old Three Hundred is an Austin...

Rentv.com Advanced Real Estate Services Inc. has bought The Crossings, a 346-unit apartment complex in Chino Hills, Calif., for $130 million, or $375,722/unit. Berkadia brokered the deal on behalf of the buyer. The seller was not disclosed. The...

Commercial Real Estate Direct Staff Report Pennsylvania REIT has reached a modification agreement with 80 percent of the lenders on nearly $1.1 billion of outstanding debt. The Philadelphia company owns 26 retail properties with more than 20 million...

Commercial Real Estate Direct Staff Report Owners of apartment properties lost an estimated $9.2 billion of revenue from missed rental payments in the third quarter, according to a study by the Mortgage Bankers Association. That was up slightly...

Commercial Real Estate Direct Staff Report Brookfield Properties has put the Centre at Salisbury shopping mall in Salisbury, Md., on the sales block. The investment manager, which had assumed the 881,067-square-foot retail property through its 2016 acquisition of...

A venture of Bain Capital Real Estate and Phase 3 Real Estate Partners Inc. has completed the sale of the Genesis South San Francisco life-sciences complex to Ventas Inc., in a deal valued at $1.02 billion, or $1,280.50/sf....

Commercial Real Estate Direct Staff Report RK Properties has paid $66 million, or $222,973/unit, for the 296-unit Coda Apartments in Orlando, Fla. The Long Beach, Calif., company bought the property on behalf of a Delaware Statutory Trust it...