General News
Physicians Realty Buys Medical Office Building Near Columbus, Ohio, for $27.69Mln
Physicians Realty Trust has paid $27.69 million, or $467.48/sf, for the 59,233-square-foot New Albany Medical Building II in New Albany, Ohio. The Milwaukee REIT purchased the property from Davis Healthcare Real Estate Group of Minneapolis. The property was built in...
Chicago’s 175 West Jackson Office Building Sees Sharp Drop in Appraised Value
Commercial Real Estate Direct Staff Report The 1.45 million-square-foot office building at 175 West Jackson Blvd. in Chicago has had its appraised value slashed by nearly half to $210 million from the $410 million value pegged to it in 2013,...
JLL Secures $130Mln of Financing for Denver Mixed-Use Property
JLL Capital Markets has arranged $130 million of financing against Market Station, a 339,494-square-foot mixed-use property in Denver's lower downtown neighborhood. The 12-year loan, provided by a life insurance company whose identity couldn't immediately be learned, allows the property's developer...
Apartment Building in Manhattan’s Washington Heights Area Sells for $26.75Mln
The 128-unit apartment building at 555 Edgecombe Ave. in Manhattan's Washington Heights neighborhood has been sold for $26.75 million, or $208,984/unit. The buyer, according to city records, was 555 Roger Morris LLC, an investor group led by Aron Harkham, president...
PacWestern, Square Mile Lend $93Mln for Construction of Fla. Student-Housing Property
Pacific Western Bank and Square Mile Capital Management have provided $93 million of financing for the construction of the 298-unit Theory Gainesville student-housing property outside of the main campus of the University of Florida in Gainesville, Fla. Pacific Western funded...
381-Unit Apartment Property in Chicago Comes to Market
Crain's Chicago Business JDL Development is offering for sale the 381-unit Eight Eleven Uptown apartment property in Chicago's Uptown neighborhood. The local company has hired JLL to market the building at 811 West Agatite Ave. The 27-story property opened in...
Toll Brothers Venture Gets $94Mln Loan for Stamford, Conn., Apartment Project
A venture led by homebuilder Toll Brothers has lined up $94 million of construction financing from Capital One and Comerica Bank for its proposed 355-unit apartment complex at 777 Summer St. in downtown Stamford, Conn. It would be the first...
Arbor Realty Trust Lends $55.2Mln for Maine Apartments
Commercial Real Estate Direct Staff Report Arbor Realty Trust has provided $55.2 million of permanent financing against the 256-unit Latitude at South Portland apartment property in South Portland, Maine. The loan has a 10-year term and allowed the property's developer,...
CBRE Lends $75Mln Against Los Angeles Apartment Property
CBRE Investment Management has provided $75 million of financing against the 900 Apartments, a 193-unit property in Los Angeles' Koreatown neighborhood. The three-year loan allowed the property's owner, which could not be identified immediately, to retire construction debt and facilitate...
KKR Real Estate Lends $169Mln Against Scottsdale, Ariz., Apartment Property
Commercial Real Estate Direct Staff Report KKR Real Estate Finance Trust Inc. has provided $169 million of financing for the purchase of the Moderne, a 369-unit apartment property in Scottsdale, Ariz. A group led by Utah investors Robert Ctvrtlik and...
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