Companies of all sorts that own real estate would find advantageous financing by turning to the sale-leaseback market, where they would sell their properties and lease them back, rather than turning to...
Read moreCommercial 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...
ConnectCRE Stockbridge Capital Group has paid $142.25 million, or $263.19/sf, for two industrial properties totaling 540,478 square feet at 3351 East Philadelphia St. and 4450 East Lowell St. in Ontario, Calif. The San Francisco investor purchased the properties...
Commercial Real Estate Direct Staff Report The $87.24 million CMBS loan against Equitable Plaza, a 688,292-square-foot office property in Los Angeles, has been sent to special servicing as it's not expected to be paid off when it matures...
A venture of Denholtz Properties and Long Wharf Capital has paid $36.5 million, or $143.18/sf, for Silver Star Commerce Center, a 254,915-square-foot industrial property in Orlando, Fla. Denholtz, of Orlando, and Long Wharf, of Boston, purchased the eight-building...
JPMorgan Chase Bank has lent $232.07 million against the 1,193-unit apartment property at 3333 Broadway in the Harlem section of Manhattan. The 49-year-old property, with five buildings near Columbia University's Morningside Heights campus, is owned by a venture...
Regeneron Pharmaceuticals Inc. has signed an office lease for 126,678 square feet at the 820,000-sf Warren Corporate Center in Warren Township, N.J. The space that Regeneron took is owned by a venture of Rubenstein Partners of Philadelphia and...
REBusiness Online Neology Development has lined up $54.5 million of financing against the Pier 19 Residences & Marina, a 199-unit apartment property in downtown Miami. Apollo provided the five-year loan, which has a fixed rate and was arranged...
The Birch Group has paid $43.75 million, or $297,619/unit, for The Pennington, a 147-unit apartment property in Passaic, N.J. The Jersey City, N.J., investor acquired the property, at 211 Pennington Ave., from the Chetrit Group of New York...
BisNow CGI Merchant Group, the owner of the Waldorf Astoria Hotel at 1100 Pennsylvania Ave. NW in Washington, D.C., has defaulted on the property's mortgage, prompting its lender, BDT & MSD Partners, to schedule a foreclosure auction for...
Manny Brown, a 17-year mortgage industry veteran who recently was chief operating officer and president of Plum Lending, has been named COO of Concord Summit Capital, a Miami real estate capital intermediary. Brown had joined Plum Lending, a...
Crain's New York Business A venture of Legion Development Group and EJS Group has paid $57.5 million, or $522.73/sf, for the 110,000-square-foot office property at 5 West 13th St. in the Greenwich Village section of Manhattan. The venture...
ConnectCRE City Realty Group has paid $41 million, or $341.67/sf, for the Chestnut Hill Office Park, with 120,000 square feet at 1280-1330 Boylston St. in Brookline, Mass. The Allston, Mass., investor plans to redevelop the 5.34-acre site into...
Commercial Real Estate Direct Staff Report Average monthly rents for apartment units nationally increased in the first quarter by 0.4 percent from a year ago, to $2,163, according to CBRE. That number is unchanged from the fourth quarter....
A venture of Hines and Trez Capital has lined up $108 million of financing against a portfolio of 13 self-storage properties with a total of 8,952 units in the Dallas-Fort Worth area. New York Life Real Estate Investors...
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