General News

Commercial Real Estate Direct Staff Report Rents for retail space in the 16 retail corridors tracked by CBRE declined by 1.2 percent in the fourth quarter, to $597/sf. That was the 17th straight quarter in which rents had declined. And...

Sonnenblick-Eichner Co. has arranged $39 million of mortgage financing, from Rockbridge Capital, against the 197-room Moxy Portland Downtown hotel in Portland, Ore. The five-year loan allowed the property's developer and owner, a venture of Graves Hospitality of Minneapolis and KCB...

An affiliate of Lincoln Property Co. has paid $43.2 million, or $264.92/sf, for 300 Jubilee, a 163,067-square-foot industrial property in Peabody, Mass. The Dallas developer purchased the property from Brookwood Financial Partners LLC of Beverly, Mass., which had acquired it...

South Florida Business Journal Vectra Realty LLC has sold the 277,425-square-foot warehouse at 7101 NW 32nd Ave. in Miami's Gladview neighborhood for $47.25 million, or about $170.32/sf. The Bergen, N.J., company sold the industrial property to Realterm Logistics of Annapolis,...

South Florida Business Journal An affiliate of Starwood Capital Group has purchased Marketplace at the Outlets, a 303,705-square-foot shopping center in West Palm Beach, Fla., for $130 million, or about $428.05/sf. The Miami Beach, Fla., company bought the retail property...

JLL Income Property Trust Inc. has paid $39.5 million, or $120.80/sf, for South Louisville Distribution Center, a 327,000-square-foot industrial property in Shepherdsville, Ky. The Chicago REIT, whose shares do not trade on any exchange, purchased the property from its developer,...

MIG Real Estate has paid $54.5 million, or $358,552/unit, for BluWater, a 152-unit apartment property in Everett, Wash. The Newport Beach, Calif., investor purchased the property from Coast Equity Partners of Everett, which had acquired it in 2014 for $25.5 million....

Empire Hotel, with 423 rooms and 61,223 square feet of retail space in Manhattan's Columbus Circle area, has been appraised at a value of $137 million. That's nearly one-third the value pegged to it in 2013, when a $180 million...

Mission Capital Advisors has hired Pierre Bonan as director to handle the origination, structuring and trading of commercial real estate loans and foreclosed properties. Bonan moves to the New York advisory boutique from its parent, Marcus & Millichap, where he...

Commercial Real Estate Direct Staff Report Fannie Mae last year funded nearly $70 billion of financing against multifamily properties. While that's nearly 9 percent less than the record volume it posted in 2020, it bumps up against the lending cap set...