General News

The $132.5 million of financing against the Salesforce Tower and its neighboring Circle Building, with a total of 1.1 million square feet in Indianapolis, has been defeased, or replaced by government securities. The collateral property was sold to Square Deal...

Commercial Real Estate Direct Staff Report Hampshire Properties has paid $61 million, or $252,066/unit, for the 242-unit Point at Windermere apartment property in the Philadelphia suburb of West Chester, Pa. The Brooklyn, N.Y., investor bought the complex from Pantzer Properties...

Demand by prospective tenants for office space in certain major markets plunged last year, as a result of lockdowns stemming from the coronavirus pandemic. The seven major markets tracked by VTS, a New York company that markets leasing management software,...

Commercial Real Estate Direct Staff Report Madison Realty Capital has provided $34 million of financing for the two-building office complex at 21555 Oxnard St. in Woodland Hills, Calif. The loan will be used to fund a redevelopment of the 448,072-square-foot...

San Antonio Business Journal Big V Property Group is paying $219.7 million, or about $210.84/sf, for The Rim, a 1.042 million-square-foot outdoor shopping center in San Antonio. The Charlotte, N.C., real estate company is buying the retail property from a...

Commercial Real Estate Direct Staff Report Monmouth Real Estate Investment Corp., a sleepy REIT with a portfolio of 119 net-leased industrial properties totaling 23.4 million square feet, is getting a lot of attention. Blackwells Capital LLC, a New York private-equity...

Guggenheim Investments has committed $600 million to a venture with ElmTree Funds that will pursue net-leased industrial properties across the United States. The venture will specifically target last-mile distribution facilities. ElmTree, a St. Louis investment manager, was founded in 2011...

Commercial Real Estate Direct Staff Report TruAmerica Multifamily has made its first investment in the northeastern United States, paying $90.25 million, or $410,227/unit, for the 220-unit Avalon Cohasset apartment property in the Boston suburb of Cohasset, Mass. The Los Angeles...

Harbor Group International LLC, which last year broadened its investment strategy to include alternative lending, has raised $245 million for that initiative. The Norfolk, Va., investment manager raised $110 million of the equity commitments from the Canada Pension Plan Investment...

The Real Deal Extell Development has secured $380 million of mezzanine financing against the 179-unit Central Park Tower residential condominium project in Manhattan. Sail Harbor Capital and Baupost Group provided the debt, which has a 14 percent coupon and matures...