TerraCap Management has paid $103.5 million, or nearly $311/sf, for the Anchor Centre, a 333,014-square-foot office property in Phoenix. The Estero, Fla., investment manager, which is in the process of raising $450 million for a fund to pursue...

Knighthead Funding has provided $42 million of financing for the construction of an 84,746-square-foot medical-office building in the Astoria section of Queens, N.Y. The property, at 30-14 Crescent St., is being developed by an investor group, Astoria Crescent...

Commercial Real Estate Direct Staff Report S2 Capital has paid $26 million, or $154,762/unit, for the 168-unit Windemere Apartments in Raleigh, N.C. The Addison, Texas, investment manager bought the property from Northland Investment Corp. of Newton, Mass. JLL...

Commercial Real Estate Direct Staff Report PC2 Capital, the investment operation launched by former Citi CMBS trader Pasquale Cardone, has had a solid early showing, generating a 14.6 percent net return for its investors since its inception. Cardone launched...

JLL has originated $50.5 million of Freddie Mac financing against the 285-unit Lincoln Pointe Apartments in Aventura, Fla., about 15 miles north of Miami. The loan allowed the property's owners, a venture of LCOR of Berwyn, Pa., and...

Commercial Real Estate Direct Staff Report Berkadia has acquired Moran & Co., broadening the reach of its investment-sales business into the institutional investor market and expanding its geographic footprint. Moran, of Seattle, was founded in 1971 as a...

Commercial Observer Criterion Real Estate Capital has provided $130 million of financing against the unsold units at the 92-unit Bloom on Forty Fifth residential condominium project at 615 Tenth Ave. in Manhattan. According to the StreetEasy Website, nine...

Commercial Observer Madison Realty Capital has provided $53 million of construction financing for the 150-unit apartment project at 875 Fourth Ave. in Brooklyn, N.Y. Meridian Capital Group arranged the floating-rate loan. Heritage Equity Partners is developing the building...

Puget Sound Business Journal Zurich Alternative Asset Management has paid $52.15 million, or $1,174/sf for the 44,400-square-foot Terry Thomas office property at 225 Terry Avenue North in Seattle. The New York investment manager bought the property from a...

Commercial Real Estate Direct Staff Report Younan Properties has paid $18.1 million, or $40.20/sf, for the 450,154-square-foot Two Westlake Park office property in Houston. The purchase by Younan, of Woodland Hills, Calif., was first reported by the Houston...

Virtus Real Estate Capital and Coast Income Properties Inc. have sold the 47,596 square-foot medical office building at 4765 Carmel Mountain Road in San Diego to an undisclosed REIT for $37.35 million, or $784.73/sf. Virtus, of Austin, Texas,...

Commercial Observer Akelius has paid $103 million, or $293,447/unit, for the 351-unit Edition apartment property in Hyattsville, Md., about eight miles northeast of Washington, D.C. The Swedish investor bought the property from a venture of PCCP and Fore...

Commercial Real Estate Direct Staff Report The Destiny USA mall in Syracuse, N.Y., has been appraised at a value of only $203 million, down from the $710 million pegged to it in 2014, when $430 million of CMBS...

Commercial Real Estate Direct Staff Report A venture of One Real Estate Investment and MLG Capital has paid $36.3 million, or $117,097/unit, for the 310-unit Kelston Apartments in Charlotte, N.C. It bought the property from Emma Capital Investments...

REBusiness Online Toda America has paid $34.7 million, or $288.69/sf for the 120,199 square-foot Hites Plaza office property at 5601 Arnold Road in Dublin, Calif. The San Francisco investor acquired the property from an undisclosed seller in a...

Ryan Cos. and Harrison Street have broken ground on a 258-unit seniors-housing property at the corner of Irving Park Road and Milwaukee Avenue in Chicago. Ryan Cos., of Minneapolis, and Harrison Street, of Chicago, received approvals for the...

Hartford Business Journal NorthBridge has paid $24.5 million, or $132.52/sf, for a 184,875-square-foot industrial property in Wallingford, Conn., that is fully leased to Amazon.com Inc. The Wakefield, Mass., real estate investor bought the property from the Fremont Group...

Michael Ware and Taylor Hill have rejoined Marcus & Millichap as senior vice presidents in the company's Institutional Property Advisors unit. The two join from Berkadia, which they had joined just more than five years ago. They're joining...

San Francisco Business Times Harvest Properties has paid $165 million, or $964.37/sf for the 171,096 square-foot office building at 360 Spear St. in San Francisco. The Oakland, Calif., investor acquired the property from a venture of Madison Capital...

Avanath Capital Management has raised $760 million of equity commitments for its most recent fund, exceeding its $550 million target. The vehicle, Avanath Affordable Housing IV LLC, is nearly twice the size of the Irvine, Calif., investment manager's...

Commercial Real Estate Direct Staff Report The average asking rent for ground-floor retail space in Manhattan at the end of last year was $652/sf, a 9.9 percent decline from 2019, according to CBRE. Rents dropped by 1.1 percent...

Sacramento Business Journal Exan Capital has paid $56.34 million, or $388.55/sf, for the 145,000-square-foot warehouse building at 7601 Foothills Blvd. in Roseville, Calif., a suburb of Sacramento, Calif. The Miami investment manager acquired the industrial property from Panattoni...

Commercial Real Estate Direct Staff Report The 600-room Marriott Houston Westchase, which backs a troubled $69.9 million CMBS loan, has been appraised at a value of only $47.5 million. The property's loan is the only remaining asset in...

Postal Realty Trust Inc. has hired Robert Klein as its chief financial officer. Klein joined the Cedarhurst, N.Y., company from Monday Properties, where he was a managing partner and head of capital markets. Postal Realty did not previously...

The Real Deal The St. Paul Fire and Marine Insurance Co. has paid $74.5 million, or $378.17/sf, for the 197,000-square-foot distribution center at 344 Duffy Ave. in Hicksville, N.Y. The affiliate of Travelers Cos. bought the Long Island,...