Commercial Real Estate Direct Staff Report The 382,256-square-foot office property at 750 Lexington Ave. in midtown Manhattan was appraised at a value of $50 million. That's 83 percent lower than the $300 million value pegged to the building...
Commercial Real Estate Direct Staff Report Walker & Dunlop has written a $40.5 million Fannie Mae loan against the 264-unit Eagle Pointe Apartments in Albany, Ore. Gantry arranged the five-year loan, which pays a fixed coupon and doesn't...
Commercial Real Estate Direct Staff Report Northmarq has arranged $50.75 million of financing against a portfolio of 10 apartment properties with 482 units in Los Angeles. The seven-year loan requires only interest payments for the first four years...
A venture of The Hampshire Cos., Federated Hermes and O'Connor Capital Partners has lined up $47.1 million of financing against The Crosslands, a 529,212-square-foot shopping center in Kissimmee, Fla. TD Bank provided the three-year loan, which was arranged...
Jacksonville Business Journal Cedar Grove Capital has paid $65.4 million, or about $107,743/unit, for a portfolio of three apartment properties with a total of 607 units in Jacksonville, Fla. Limited liability companies linked to an unidentified Prosper, Texas,...
Commercial Real Estate Direct Staff Report Blackstone Real Estate Debt Strategies has provided $112.48 million of financing to fund the $171 million purchase of the 390-room Hilton Boston Back Bay Hotel by a venture of Certares Management LLC and...
Commercial Real Estate Direct Staff Report The $250 million CMBS loan against the 956,554-square-foot office property at 25 Broadway in Manhattan's Financial District has transferred to special servicer LNR Partners as it has matured. A $130 million piece...
Commercial Real Estate Direct Staff Report The $350 million CMBS loan against the Westfield Montgomery Mall in Bethesda, Md., has transferred to special servicer SitusAMC as it's expected to default at its August maturity. The loan is securitized...
Commercial Real Estate Direct Staff Report Dwight Mortgage Trust has provided $30.2 million of financing against the Marlette, a 140-unit apartment development in Carson City, Nev. The financing allows the property's owner, Kingsbarns Realty Capital of Las Vegas,...
Commercial Real Estate Direct Staff Report Continental Realty Corp. has raised $105 million of equity commitments for its latest apartment-investment fund, Real Estate Opportunities Fund I. The Baltimore investment manager, which has raised nearly $1.5 billion of commitments...
Commercial Real Estate Direct Staff Report An affiliate of Persis Corp. has paid $111.69 million, or $161.26/sf, for the 692,600-square-foot industrial property at 17500 Perris Blvd. in Moreno Valley, Calif. The Honolulu company purchased the property from Walgrens,...
The Real Deal Food First is looking to sell 20 rent-stabilized apartment properties in Brooklyn and the Bronx, N.Y., through auctions. A representative from the Brooklyn-based nonprofit said that the costs of maintaining the buildings were too high...
San Francisco Business Times GLP Capital Partners has paid $75 million, or $227.27/sf, for the 330,000-square-foot industrial property at 3129 Corporate Place in Hayward, Calif. The Santa Monica, Calif., investment manager purchased the property from Clarion Partners. The...
Houston Chronicle Trigild Texas, the court appointed receiver overseeing Houston's Greenway Plaza, is preparing to bring the 4.3 million-square-foot office complex to the sales block. A venture led by Parkway Inc. previously had owned the 10-building property, which...
Sunstone Hotel Investors Inc. is paying $230 million, or $365,079/unit, for the 630-room Hyatt Regency San Antonio Riverwalk hotel. The Aliso Viejo, Calif., REIT is buying the property, at 123 Losoya St., from an affiliate of Hyatt Hotels...
Commercial Real Estate Direct Staff Report SPI Holdings LLC has paid $33 million, or $103.29/sf, for the 319,485-square-foot industrial property at 8371 Rovana Circle in Sacramento, Calif. The Dallas company purchased the property from Blackstone Group, which had...
Commercial Real Estate Direct Staff Report AEW Capital Management has paid $133.2 million, or $354,255/unit, for Ranch at Moorpark, a 376-unit apartment property in Moorpark, Calif., which is northwest of Los Angeles. The Boston investment manager purchased the...
Northbridge Partners has raised $950 million of equity commitments for its NB Partners Fund IV LP, well exceeding the value-add logistics fund's $800 million target. The investment vehicle is a follow-up to Fund III, through which the Boston-area...
Commercial Real Estate Direct Staff Report Northwestern Mutual Life Insurance Co. has provided $127 million of financing against 465 North Park, a 444-unit apartment property in Chicago's Streeterville neighborhood. JLL Capital Markets arranged the loan, which has a...
The following story has been edited to correctly identify the buyer as Timberlane Partners. Commercial Real Estate Direct Staff Report Timberlane Partners has paid $55.5 million, or $334,337/unit, for the 166-unit Koi Apartments in Seattle. The Seattle developer...
A group of lenders led by Sumitomo Mitsui Trust Bank has provided $911 million of mortgage financing against the 670,000-square-foot office building at 425 Park Ave. in midtown Manhattan's Plaza District. The five-year loan, which pays a floating...
Commercial Real Estate Direct Staff Report An investor group led by Ramin Rostami has paid $36 million, or $679,245/unit, for the Beverly, a 53-unit apartment property in Portland, Ore. The group, based in Calabasas, Calif., purchased the property...
BisNow The two-building office and retail property at 303 West 42nd St. and 300 West 43rd St. in Manhattan's Times Square area has been put up for sale by its owner, KRW Development. Cushman & Wakefield has been...
Commercial Real Estate Direct Staff Report Asking capitalization rates for net-leased properties averaged 7.01 percent in the first quarter, according to the Boulder Group. That's up from the 6.9 percent cap rate posted in last year's fourth quarter and...
Commercial Real Estate Direct Staff Report Olshan Properties has acquired the 50 percent stake it didn't already own in the Fair Oaks Mall in suburban Washington, D.C., as part of a deal that included the negotiation of a...
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