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The deal has a large component of multi-family loans. It comes on the heels of a floating-rate deal that DLJ is marketing.
Patricia Goldstein, Joel Ross, Daniel Abrams and Caryn Effron have formed Citadel Realty, which will provide a variety of advisory services to real estate owners.
The developers of NorthPort Marketplace in Ft. Lauderdale adopted an unusual retailing concept that centered on entertainment. The concept has failed and the property now faces foreclosure.
Eager to take advantage of the glut of capital available for New York office buildings, Crown Properties has decided to sell 61 Broadway instead of refinancing the property, as it originally planned.
The real estate firm recently finished raising $240 million of equity for a mezzanine debt fund run by Heller Financial. It is working on raising another $120 million for its clients.
The 42-year-old building, two blocks from New York's Grand Central Terminal, should sell for $200/sf, when Crown Properties pulls the trigger on a sale.
Competition was fierce among brokers vying for the right to market the former Marathon Plaza, a 700,000 sf office complex in downtown San Francisco that should sell for more than $210 million.
Firms interested in helping government agencies dispose of financial assets are being invited to get on the General Services Administration's list of pre-qualified contractors.
The Witkoff Group, which is recycling its inventory by selling mature buildings for more opportunistic ones, has sold the downtown building to a German mutual fund. Witkoff owned the building in partnership with First Boston.
Haverford Capital, which is currently investing a $50 million fund, will likely look to raise a third fund sometime early next year.
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© 2023 Commercial Real Estate Direct All rights reserved..