Ready Capital Corp., which during the first quarter had reclassified $655 million of its loans as "held-for-sale," has roughly $460 million of those on the sales block. The New York lender, which...
Read moreCommercial Real Estate Direct Staff Report Kayne Anderson Real Estate has paid $36.35 million, or $694.54/sf, for the 52,337-square-foot medical-office building at 147 Milk St. in downtown Boston. The Boca Raton, Fla., investment manager bought the property from...
Commercial Real Estate Direct Staff Report The venture of RFR Holding and Kushner Real Estate Group that owns four office buildings with 753,074 square feet in the Dumbo neighborhood of Brooklyn, N.Y., has negotiated a nearly five-year term...
Commercial Real Estate Direct Staff Report The 500 North Michigan Ave. office building in Chicago is in the process of being sold and its lender, Granite Point Mortgage Trust, has indicated that it would accept a discounted payoff...
San Francisco Business Times Westbrook Partners is in default on the $72.5 million loan against the Four Seasons Embarcadero, a 155-room hotel in San Francisco. The local investment manager is said to be three months behind on its...
Class Amt $mln Sub Level % Avg Life (yrs) Rating S&P Rating Fitch Rating Kroll Price % Yield % Final Pricing (bp) Bnch mrk A-1 1.65 30.00 3.30 AAA AAA AAA 100.000 5.619 +102 J-spread A-2 33.00...
Commercial Observer Four Winds Real Estate has paid $68 million, or $618,181/unit, for The Knox, a 110-unit apartment property at 49 East 34th St. in the Murray Hill section of Manhattan. The New York developer bought the property...
Northwestern Mutual Life Insurance Co. has provided $103 million of financing against The Ivy, a 245-unit apartment property in Chatham, N.J. The property, at Two River Road, is owned by BNE Real Estate Group of Livingston, N.J. JLL...
The Real Deal Nvidia has paid $374 million, or $680/sf, for its 550,000-square-foot headquarters in Santa Clara, Calif. The tech company purchased the property from Preylock Holdings, which had acquired it in 2017 for $240 million. Newmark brokered...
The Mercury News Essex Property Trust has paid $101 million, or $615,853/unit, for Elan Mountain View, a 164-unit apartment property in Mountain View, Calif. The San Mateo, Calif., REIT purchased the property from its developer, Greystar. Elan Mountain...
The 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...
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