Commercial Real Estate Direct Staff Report Bank OZK has provided $43 million of senior financing and PGIM Real Estate has provided $19.78 million of mezzanine debt to fund the construction of the first phase of Mack Innovation Park...
Crain's New York Business Wells Fargo Bank has provided $450 million of financing against the Sven, a 958-unit apartment property in the Long Island City section of Queens, N.Y., that's owned by the Durst Organization. The developer had...
Commercial Real Estate Direct Staff Report The 56-room Hudson River Hotel near the Hudson Yards area of Manhattan has sold for $18.2 million, or $325,000/room, allowing for the resolution of a long-troubled $13.21 million securitized mortgage. The property,...
Crain's New York Business Island Capital has paid $51.8 million, or $475,229/unit, for the 109-unit Echelon Chelsea apartment property in the Chelsea section of Manhattan. The New York investor acquired the property, which is subject to a ground...
Jacksonville Daily Record An affiliate of Bixby Land Co. has paid $53.5 million, or about $126.33/sf, for two industrial buildings totaling 423,480 square feet in Jacksonville, Fla. The Newport Beach, Calif., real estate company purchased the properties, Crossroads...
Commercial Real Estate Direct Staff Report Everlake Life Insurance Co. has provided $41 million of financing to facilitate the purchase of the 220-unit Landing at Fiesta Village apartment property in Mesa, Ariz. The property was purchased by Millburn...
Apple Hospitality REIT Inc. has paid $79.5 million, or $303,435/room, for the 262-room Embassy Suites by Hilton Madison Downtown hotel in Madison, Wis. The Richmond, Va., REIT bought the newly built property, at 231 South Pinckney St., two...
Commercial Real Estate Direct Staff Report A venture of Sendero Capital and TPG Angelo Gordon has paid $24.3 million, or $361.26/sf, for the 67,264-square-foot medical-office building at 65 Walnut St. in Wellesley, Mass. The property was sold by...
Commercial Real Estate Direct Staff Report Charlotte Plaza, a 632,283-square-foot office building in Charlotte, N.C., has had its appraised value reduced for the second time this year, to $66.4 million. The latest appraisal was highlighted in a TreppWire...
Commercial Real Estate Direct Staff Report A venture of RFR Holdings and Kushner Cos. has sold the 90,886-square-foot office building at 81 Prospect St. in the Dumbo section of Brooklyn, N.Y., for $33.75 million, or just more than...
The Real Deal Sovereign Partners has paid $178 million, or $349.01/sf, for the 510,000-square-foot office property at 780 Third Ave. in midtown Manhattan. The property, which was built in 1983, was sold by Nuveen Real Estate of New...
Commercial Real Estate Direct Staff Report Northmarq has written a $26 million Fannie Mae loan against the 360-unit Diamond Sands Apartments in Las Vegas. The 10-year loan requires only interest payments for its entire term and pays a...
Commercial Real Estate Direct Staff Report A venture led by Ulysses Development Group has paid $39 million, or $325,000/unit, for the 120-unit Eagle Villas Apartments in Eagle, Colo. Ulysses, of Denver, partnered on the transaction with the Eagle...
Trinity Financial, which is redeveloping the historic Aeolian Co. building in Meriden, Conn., into 82 apartment units, has lined up a total of $78.4 million of equity and debt financing for the project. KeyBank led the financing. Its...
Commercial Real Estate Direct Staff Report Menlo Equities, owner of the 360,864-square-foot office property at 2941 Fairview Park Drive in Falls Church, Va., has requested that the property's $90 million loan be transferred to special servicing so it...
Commercial Observer Principal Financial Services has filed a motion to foreclose on the $60.6 million loan it holds against the 176,016-square-foot Liberty Building at 1129 20th St. NW in Washington, D.C. The building is owned by a venture...
Bravo Capital has originated a $57.8 million loan under the U.S. Department of Housing and Urban Development's 223(f) program for the 200-unit Ithacan Residences apartment property in Ithaca, N.Y. Loans under the program typically are written to fully...
Commercial Property Executive Voya Investment Management has provided $67 million of financing to facilitate LM Real Estate Partners' purchase of the Premier Distribution Center, a 1.4 million-square-foot industrial complex in Charlotte, N.C. LM, of New York, purchased the...
Commercial Real Estate Direct Staff Report The 1.1 million-square-foot office building at 1407 Broadway in the Times Square South area of Manhattan has been appraised at a value of $136 million. That compares with the building's $510 million...
Crain's Chicago Business MLG Capital has paid $48 million, or $176,470/unit, for Orchard Village, a 272-unit apartment property in Aurora, Ill. The Brookfield, Wis., investment manager purchased the property from National Property REIT, which was an equity investor...
PincusCo.com Northwestern Mutual Life Insurance has provided a $165 million loan against the 387-unit Capitol Chelsea apartment property at 776 Sixth Ave. in Manhattan's Chelsea neighborhood. The 37-story property is owned by JPMorgan Asset Management, which had acquired...
Commercial Real Estate Direct Staff Report The 185,233-square-foot office building at 25 West 45th St. in midtown Manhattan, whose $63.95 million CMBS loan had transferred to special servicing last November, has been appraised at a value of $65 million....
The Real Deal Barclays Capital has provided $290 million of financing against the 512-room TWA Hotel at John F. Kennedy International Airport in Queens, N.Y. The property is owned by MCR Hotels of New York. The financing provided...
Boston Business Journal Grossman Cos. has paid $41.5 million, or $415/sf, for the 100,000-square-foot retail property at 130-132 Granite St. in the Boston suburb of Quincy, Mass. The local investor acquired the property from Regency Centers of Jacksonville,...
Crain's New York Business The CMBS loan against 731 Lexington Ave., a 1.3 million-square-foot office building in midtown Manhattan that serves as Bloomberg's headquarters, has been extended through October. The loan, with a $500 million balance, has been...
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