Commercial Real Estate Direct Staff Report An affiliate of Christopher Todd Capital has paid $56.9 million, or $262,212/unit, for Cottages at McDowell, a built-to-rent property with 217 units in Avondale, Ariz. The Mesa, Ariz., company purchased the property...
Bloomberg LP has renewed its lease, through 2040, for 946,815 square feet of office space at 731 Lexington Ave. in midtown Manhattan. The financial information company has housed its headquarters in the 1.3 million-sf mixed-use building since it...
Austin Business Journal Landmark Properties has added to its Austin, Texas, student-housing portfolio with its purchase of the Pointe on Rio. The Athens, Ga., real estate investor bought the off-campus property, with 321 beds in 122 units, from...
Houston Business Journal Wideman Co. has bought Jones on Main, a two-building office property with a combined 889,000 square feet in Houston. The Orlando, Fla., company purchased the property from Lionstone Investments of Houston. The sales price was...
Commercial Real Estate Direct Staff Report Apartment operating expenses in January had increased by 7.1 percent from a year ago, according to Yardi Matrix. The Santa Barbara, Calif., software and data company said the increase, to $8,950/unit annually...
Commercial Real Estate Direct Staff Report Paramount Group has negotiated the modification of the $575 million mortgage against the 1.6 million-square-foot office building at 60 Wall St. in lower Manhattan, as part of a plan to redevelop it....
Commercial Real Estate Direct Staff Report One City Centre, a 602,122-square-foot office building at 1021 Main St. in Houston, is under contract to be sold. That's according to a CMBS Newsflash by Morningstar Credit Analytics this morning. JLL has...
Crain's Chicago Business Macquarie is offering for sale the 156,263-square-foot office building at 111 West Illinois St. in Chicago. The Australian financial services firm has hired Cushman & Wakefield to market the property, which it took control of...
Commercial Real Estate Direct Staff Report A venture between a Kennedy Wilson investment fund and Haseko Corp. has acquired two multifamily properties with a combined 350 units in Vancouver, Wash., for a total of $74 million. Kennedy Wilson...
Commercial Real Estate Direct Staff Report Northmarq has provided $23.9 million of Freddie Mac financing to facilitate the purchase, by Harbert Management, of the 122-unit Fremont City Center apartment property in Fremont, Calif. Harbert, a Birmingham, Ala., investment...
Commercial Real Estate Direct Staff Report Fannie Mae funded $10.1 billion of multifamily loans during the first quarter, just shy of the $10.2 billion it funded during the same period a year ago and $11.2 billion during the...
Multi-Housing News Tara Capital has paid $63 million, or about $77,778/unit, for Park at Voss, an 810-unit apartment property in Houston's Westchase area. The local real estate investor lined up $55.5 million of financing from BridgeInvest of Miami...
Commercial Real Estate Direct Staff Report Macerich Co. has negotiated a three-year term extension of the $84.37 million mortgage against the Fashion Outlets of Niagara Falls, taking the loan's maturity to October 2026. It would be the second...
Commercial Real Estate Direct Staff Report Greystone & Co. has bought Lumi Hyde Park, a 259-unit apartment complex in Tampa, Fla., for $83 million, or about $320,462/unit. The New York investment manager purchased the five-story property from Conti...
Commercial Observer Hudson Bay Capital has provided a $155 million loan against the 725-room Lexington Hotel in midtown Manhattan. The property, at 511 Lexington Ave., is owned by a venture of Island Capital Group, MCR Hotels and Three...
Commercial Real Estate Direct Staff Report An affiliate of Columbus Properties Inc. has paid $86.1 million, or $279.11/sf, for 24th at Camelback, a 308,481-square-foot office property in Phoenix. The New York investor, an affiliate of Germany's Geschwister Oetker...
Host Hotels & Resorts Inc. has paid $530 million, or $735,090/room, for a two-hotel complex with 721 rooms in Nashville, Tenn. The Bethesda, Md., REIT bought the property, comprised of the 215-room 1 Hotel Nashville and 506-room Embassy...
Commercial Real Estate Direct Staff Report The $38.96 million CMBS loan against 100 Westminster, a 361,462-square-foot office building in Providence, R.I., has been extended by a year through next February, with an option that would allow it to...
Crain's Chicago Business The group that owns the 1.4 million-square-foot office building at 70 West Madison St. in Chicago has been hit with a foreclosure lawsuit. The group, comprised of Hearn, GEM Realty Capital and Farallon Capital, had...
The Real Deal Fortress Investment Group has filed to foreclose, under the Uniform Commercial Code, against a portfolio of real estate in Florida, Manhattan and Westchester County, N.Y., owned by Cohen Brothers Realty Corp. The investment bank claims...
Commercial Real Estate Direct Staff Report Argentic Investment Management has provided $125 million of financing against the 320-unit Station 16 Apartments in Millbrae, Calif. The floating-rate loan was arranged by Walker & Dunlop. It allowed the property's developer,...
A venture of Kayne Anderson Real Estate and Remedy Medical Properties has paid $251.7 million for a portfolio of 37 healthcare properties with 708,000 square feet in 13 states from Broadstone Net Lease Inc. The portfolio is fully...
Commercial Real Estate Direct Staff Report The two-building office complex at 760 and 800 Westchester Ave. in Rye Brook, N.Y., last year had absorbed a 13 percent increase in utility expenses, helping offset the 6.4 percent increase in...
Commercial Real Estate Direct Staff Report Owners of office properties in Manhattan, continuing to face lackluster tenant demand for space, had increased the amount of tenant-improvement allowances they offer at both trophy and class-A buildings. During the first...
The Real Deal Lamar Cos. has paid $63.7 million, or $148.83/sf, for Geneva Commons, a 438,000-square-foot retail center in Geneva, Ill. The Fairfield, N.J., company purchased the property from LaSalle Investment Management, which had acquired it in 2013...
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