The venture that's redeveloping the Terminal Warehouse mixed-use building in Manhattan into 1.2 million square feet of office space has lined up $1.25 billion of construction financing for the project. The venture is led by L&L Holding Co....

Blackstone Real Estate Income Trust has struck a deal to $5.1 billion in cash for a portfolio of 678 affordable-housing properties with 83,000 units from American International Group. The transaction is scheduled to be completed by the end...

Blackstone Group's real estate assets under management increased in the second quarter by 24 percent to $207.5 billion, when compared with a year ago. The giant investment manager has a total of $684.03 billion of assets under management,...

Bridge Investment Group has paid $88.8 million, or $322,909/sf, for Parc Roundtree Ranch, a 275-unit apartment property in Peoria, Ariz. The Salt Lake City investment manager purchased the property from its developer, Evergreen Devco Inc. of Phoenix, in...

Dallas Morning News Barvin has lined up $57.9 million of acquisition financing for its purchase of the NOVEL Bishop Arts residential property in Dallas. A fund managed by Barings Real Estate of Hartford, Conn., was the lender. Barvin,...

Commercial Real Estate Direct Staff Report Prime US REIT has paid $146 million, or $492.70/sf, for the 296,327-square-foot Sorrento Towers office property in San Diego. The Singapore company bought the two-building complex from Shorenstein Properties, a San Francisco...

Lubert-Adler Real Estate Funds has made an investment in Mosaic Real Estate Credit Funds in a deal that also facilitated the buy-out of co-founder Vicky Schiff, who has left the company to pursue her other interests. The size...

Commercial Real Estate Direct Staff Report Fannie Mae and Freddie Mac funded a total of $59.6 billion of multifamily loans during the first half, down 6.7 percent from the $63.9 billion they funded during the same period last...

Peak Capital Partners has paid $59 million, or $219,330/sf, for the 269-unit Cielo Apartments in Fridley, Minn. The Provo, Utah, investment firm purchased the property from Trident Development of Saint Cloud, Minn., which was represented in the deal...

Charlotte Business Journal EverWest Real Estate Investors has bought The Mint, a 178-unit apartment property in Charlotte, N.C., for $64.1 million, or about $360,112/unit. The Denver company purchased the seven-story complex, at 425 West Trade St., from Spectrum...

Atlanta Business Chronicle A joint venture of 37th Parallel Properties and Apta Properties has paid $53 million, or about $220,833/unit, for the 240-unit Parkside Vista Apartments in Atlanta. An affiliate of First Communities Management sold the property, which...

Commercial Real Estate Direct Staff Report Parkview Financial has provided $34 million of financing against the Shops at Perry Crossing, a 600,000-square-foot lifestyle retail center in the Indianapolis suburb of Plainfield, Ind. The Los Angeles lender's loan, with...

Bisnow Carmel Partners Inc. has paid $152.3 million, or about $132,205/room, for the 1,152-room Washington Marriott Wardman Park Hotel in Washington, D.C., at a foreclosure auction held this week. The previous owner, Pacific Life Insurance Co., threw the property...

Weidner Apartment Homes has paid $53 million, or $193,430/sf, for Vim + Vigor, a 274-unit apartment property in Milwaukee. The Kirkland, Wash., company purchased the property from its developer, a venture of Milhaus Development and Davis Co., which...

Berkadia has provided $33.31 million of financing, under the U.S. Department of Housing and Urban Development's 221(d)(4) program, for the construction of the 264-unit Midtown Station Apartments in College Station, Texas. The property is being developed by a...

InTrust Property Group, which has purchased the 198-unit Atlas Apartment Homes in Las Vegas, has lined up $35.25 million of financing. The three-year loan was arranged by CBRE. InTrust, a Newport Beach, Calif., investor, paid $41.25 million, or...

SL Green Realty Corp. has sold a 49 percent stake in Manhattan's 220 East 42nd St. in a deal that values the 1.1 million-square-foot office building at $790.1 million, or $718.27/sf. The New York REIT sold the stake...

Commercial Real Estate Direct Staff Report A total of $59.6 billion of property sales transactions took place in June, taking volume for the first half of the year to 16,228 properties totaling $251.47 billion, according to Real Capital...

Brian Russell has joined the CBRE capital markets team in Southern California as executive vice president. Russell, a 10-year veteran of the commercial real estate business, had been with Eastdil Secured as a managing director and was involved...

Average daily rates generated by U.S. hotels slipped to $139.19 for the week through July 17 from the all-time high of $139.84 recorded the previous week, according to STR. But the Hendersonville, Tenn., research company noted that ADR...

Ares Management Corp. has paid $920 million for a portfolio of 48 industrial properties with 8.3 million square feet in 13 markets across the United States. The Los Angeles investment manager bought the portfolio from Prologis Inc. of...

An affiliate of Cantor Fitzgerald has paid $30.8 million, or $182.52/sf, for the 168,750 square-foot industrial property at 10801 Madison Ave. in Cleveland. The New York investment bank, which sponsors a pair of non-traded REITs, bought the property...

A venture of Weston Inc., DiGeronimo Cos. and Scannell Properties has paid $31.5 million, or $18.53/sf, for the 1.7 million-square-foot industrial property at 18300 Snow Road in Brook Park, Ohio. Ford Motor Co., the seller of the property,...

Commercial Observer An affiliate of The Meyers Group has sold the Avery Pompano Beach Apartments, a 144-unit property in Pompano Beach, Fla., for $42.9 million, or about $297,917/unit. The Aventura, Fla., company sold the eight-story property, at 275...

Vornado Realty Trust has agreed to take full control of One Park Ave., a 943,000-square-foot building in Manhattan in a deal valued at $875 million, or $927.89/sf. The New York REIT is buying the 45 percent stake it...