RECENT NEWS
Affinius Lends $89Mln to Fund Purchase of Office Space at Manhattan’s CiySpire Building
Affinius Capital has provided $89 million of mortgage financing to facilitate the $135.7 million, or nearly $360/sf, purchase of the 377,000 square feet of office space within the CitySpire building in Midtown Manhattan. The 39-year-old building is at...
TA Realty Buys Miami Industrial Complex for $47.6Mln
South Florida Business Journal TA Realty has paid $47.6 million, or $266.64/sf, for Webster Business Park, a 178,521‑square‑foot industrial complex at 7200 NW 25th St. in Miami. The Boston company purchased the four‑building warehouse property from an affiliate...
Sacramento, Calif., Apartments Sell for $34.5Mln
Oakmont Properties has paid $34.5 million, or $472,603/unit, for the 73-unit 16 Powerhouse apartment property in Sacramento, Calif. The local company purchased the 11-year-old property, at 1606 P St. in the city's Midtown area, from Demmon Partners, also...
Chicago Office to Sell at 90% Discount; Conversion Likely
Crain's Chicago Business Local developer Mike Reschke is said to be paying about $25 million for the 815,074-square-foot office property at 55 West Monroe St. in Chicago's Central Loop neighborhood. The price would represent roughly a 90% discount...
Appraised Value of Retail Space in Manhattan’s SoHo Area Slashed by Nearly 80%
Commercial Real Estate Direct Staff Report The 42,000 square feet of retail space at the base of the 12-story 599 Broadway office building in Manhattan's SoHo neighborhood has had its appraised value slashed by nearly 80% to $32...
INITIAL PRICING: BANK5, 2026-5YR22
Class Amt $mln Sub Level % Avg Life (yrs) Rating Fitch Rating Moody's Rating DBRS Morningstar Price % Yield % Final Pricing (bp) Bnch mrk A-1 1.56 30.00 2.86 AAA Aaa AAA J-spread A-2 60.00 30.00 4.76...
Tucson, Ariz., Apartments Sell for $45.5Mln, Get $40.48Mln Mortgage
Commercial Real Estate Direct Staff Report An affiliate of Bascom Group has paid $45.5 million, or $157,439/unit, for the 289-unit Domain 3201 apartment property in Tucson, Ariz. The Irvine, Calif., investment manager acquired the property, at 3201 West...
Dwight Capital Originates $114Mln HUD Loan for Office-to-Residential Conversion in Milwaukee
Commercial Real Estate Direct Staff Report Dwight Capital has originated a $114 million loan under the U.S. Department of Housing and Urban Development's 221(d)(4) program for the conversion of the 435,629-square-foot office property at 100 East Wisconsin Ave....
$75Mln Lent Against Middletown, N.Y., Retail Property
New York Real Estate Journal National Realty & Development Corp. has lined up $75 million of financing against Orange Plaza, an 811,272‑square‑foot retail property in Middletown, N.Y., about 70 miles northwest of Manhattan. An undisclosed life insurance company...
Venture Buys Norman, Okla., Shopping Center for $82.25Mln
Norman Journal Record A venture of Mazaheri Properties and Champion Hotels has paid $82.25 million, or $197.43/sf, for University Town Center, a 416,766‑square‑foot retail property in Norman, Okla. The venture purchased the shopping center from Rainier Cos. of...
Cohen & Steers REIT Pays $61.2Mln for Charlotte-Area Retail Property
Cohen & Steers Income Opportunities REIT Inc. has paid $61.2 million, or $228.36/sf, for the 268,000-square-foot Winslow Bay Commons retail property in the Charlotte, N.C., suburb of Mooresville, N.C. The REIT, whose shares do not trade on any...
Receiver Brings Bellevue, Wash., Office Property Backing $304Mln of CMBS Debt to Sales Block
Commercial Real Estate Direct Staff Report Braven Office Commons, a 749,694-square-foot property in Bellevue, Wash., has been placed on the sales block by its receiver as its foreclosure process begins. Eastdil Secured has been tapped to market the...
2-Year-Old Apartment Property in Miami Sells for $109.9Mln
South Florida Business Journal An affiliate of Breevast has paid $109.9 million, or $413,158/unit, for Avida Aventura, a 266‑unit apartment property in Miami. The Amsterdam company bought the eight‑story property from an affiliate of Fifield Cos. of Chicago....
Power Outages at Data Centers Declined Last Year
Half of all data-center operators reported that their properties had experienced power outages within the past three years, according to data compiled by the Uptime Institute. That was down from 53% in 2024.
Chicago’s 10 South LaSalle Office Has Appraised Value Slashed Further
Commercial Real Estate Direct Staff Report The appraised value of the 781,426-square-foot office property at 10 South LaSalle St. in Chicago has been reduced once again, this time to $27.2 million. Last September, the property had its value slashed...
Surprise, Ariz., Industrial Property Sells for $63.88Mln
AZ Big Media US Merchants has paid $63.88 million, or $140.72/sf, for a 453,960-square-foot building within West Summit at Surprise, a two-building industrial property with 704,472 sf in Surprise, Ariz., a northwestern suburb of Phoenix. The Beverly Hills,...
Portman Buys Westin Peachtree Plaza Hotel in Atlanta
Atlanta Business Chronicle Portman Holdings has acquired the Westin Peachtree Plaza, a 1,073‑room hotel in downtown Atlanta. The local company purchased the 73-story property through its Portman Hospitality Fund I investment vehicle. Marriott International sold the hotel but...
Sade Real Estate Secures $128.5Mln Loan for Houston Apartment Buy
Houston Business Journal Sade Real Estate has lined up $128.5 million of financing for its purchase of The Arno, a 168‑unit apartment building in Houston. Hudson Bay Capital of New York provided the loan, which was arranged by...
Platte Canyon Buys 2 San Antonio-Area Apartment Properties for $45Mln
San Antonio Business Journal Platte Canyon Capital has paid about $45 million, or $86,538/unit, for a pair of apartment properties totaling 520 units in the San Antonio area. The properties are the Allure Apartments, with 268 units at...
Arbor Realty Lends $125.25Mln for Purchase of Chicago Apartment Property
Commercial Real Estate Direct Staff Report Arbor Realty Trust has provided $125.25 million of agency financing to facilitate the purchase of the 1,115-unit Pavilion Apartments in Chicago. Earlier this month, R.I.G. Capital paid $167 million, or $149,775/unit, to...
208,000-SF Industrial Property Near Toledo, Ohio, Sells for $28Mln
Commercial Real Estate Direct Staff Report Glen Una Management Co. has paid $28 million, or $134.62/sf, for a 208,000-square-foot building within the Innovation Industrial Park in Rossford, Ohio, about six miles south of Toledo, Ohio. The Austin, Texas,...
4 Silicon Valley Office Buildings Sell for $140Mln
Commercial Property Executive Farallon Capital Management has bought a portfolio of nine office buildings totaling 1.4 million square feet within the Pacific Shores Center office campus in the Silicon Valley city of Redwood City, Calif. The San Francisco...
Apartment Building in Manhattan’s SoHo Area Fetches $43.3Mln
New York Business Journal AV Management has paid $43.3 million, or $3.94 million/unit, for an 11‑unit apartment building at 73-75 Sullivan St. in Manhattan. The New York investment manager purchased the property from affiliates of P. Zaccaro Co....
3 Office Buildings in Wilmington, Del., to be Offered at Sheriff’s Sale
Commercial Real Estate Direct Staff Report A portfolio of three Wilmington, Del., office buildings backing distressed CMBS debt are scheduled for sheriff's sale next month. The buildings, with 305,398 square feet at 200, 300, and 400 Bellevue Parkway,...
12-Acre Development Site Along Las Vegas Strip Sells for $70Mln
Commercial Real Estate Direct Staff Report Las Vegas developer Eli Applebaum has paid $70 million for a 12-acre development site along the Las Vegas Strip at the southeast corner of Las Vegas Boulevard and Mandalay Bay Road. Applebaum...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
