Commercial Real Estate Direct Staff Report The $180 million mortgage against the Quaker Bridge Mall, a 1.1 million-square-foot enclosed mall near Princeton, N.J., has defaulted and the holder of a subordinate slice has indicated it won't cure the...

Todd Hartman, who was senior vice president of Ivanhoe Cambridge's U.S. western region, has joined Corporate Office Properties Trust as chief operating officer and executive vice president, effective Nov. 30. The 25-year industry veteran is charged with managing...

Dwight Capital has hired Ryan Miles as its chief LEAN/Healthcare loan underwriter. Miles joins the New York lender, the most-active and dedicated U.S. Department of Housing and Urban Development, or HUD, lender in the country, from Lancaster Pollard...

Commercial Real Estate Direct Staff Report The $60.6 million CMBS loan against the Jefferson Mall shopping center in Louisville, Ky., has been extended by four years through June 2026. The loan, securitized through JPMorgan Chase Commercial Mortgage Securities...

Asia Capital Real Estate has provided $78.5 million of financing against the 288-unit City Club Detroit apartment property in downtown Detroit. The six-story complex, which is expected to open to tenants next month, is being developed by City...

REBusiness Online Hillwood Development Co. has acquired the 879,040-square-foot Bailly Ridge 4 warehouse in Monee, Ill., about 38 miles south of Chicago, for $50.3 million, or $57.22/sf. The Dallas developer bought the industrial property, at 25810 South Ridgeland...

Charlotte Business Journal Southwood Realty has bought Gateway at Rock Hill, a 312-unit apartment property in Rock Hill, S.C., for $51.3 million, or about $164,423/unit. The Gastonia, N.C., company acquired the complex, at 820 Sebring Drive, from Graycliff...

Sabal Capital Partners, among the most active originators of Freddie Mac small-balance loans, has been approved by the housing-finance agency to write loans under its Optigo conventional loan program. That gives the Irvine, Calif., lender the go-ahead to...

Vornado Realty Trust, which owns a 70 percent stake in 1290 Avenue of the Americas in midtown Manhattan and 555 California St. in San Francisco, has pulled its interests off the sales market, according to a report in...

Multi Housing News S2 Capital LLC has acquired the 408-unit Jerome Apartments in Glendale, Ariz., for $55 million, or $134,804/unit. The Addison, Texas, company funded the acquisition with a three-year, $47.2 million loan from Benefit Street Partners. An...

Retailers owe more than $52 billion of back rent to their landlords, according to a report on Bloomberg that cited CoStar Group data. That's sure to further impact the sector, which as been facing a number of challenges,...

JLL Income Property Trust Inc. has lined up a $36 million mortgage against the 273-unit Summit at San Marcos apartment property in the Phoenix suburb of Chandler, Ariz. The loan has a 10-year term and pays a 3.28...

Triangle Business Journal An institutional client advised by MetLife Investment Management has paid $236 million for The Dillion mixed-use project in downtown Raleigh, N.C. A venture of Kane Realty Corp. and FCP sold the complex and was represented...

Steven Smith, a real estate and bankruptcy lawyer who most recently was with Frost Brown Todd in Dallas, has joined Dorsey & Whitney LLP as partner in its Dallas office. Smith's practice focuses on representing lenders and borrowers...

Commercial Real Estate Direct Staff Report IQHQ Inc., which was founded last year by the former chief executive and president of BioMed Realty Trust Inc., has raised $1.7 billion of equity commitments through a private placement with institutional...

Rexford Industrial Realty Inc. has acquired two industrial facilities totaling 1.2 million square feet in Southern California for a total of $339.2 million. The Los Angeles REIT paid $296.6 million, or $299.84/sf, for the 989,195-sf Gateway Pointe Industrial...

Commercial Observer Hana Financial Investment is offering for sale two performing construction loans against hotel and office projects in Manhattan. The Korean lender is looking to sell a $145 million loan against a 98-room hotel that Caspi Development...

Dwight Capital has provided $49 million of financing, under the U.S. Department of Housing and Urban Development's 223(f) program for the 266-unit Tamaron Ranch Apartments in Lynnwood, Wash. Loans under the 223(f) program are used to fund existing...

Commercial Real Estate Direct Staff Report Joseph E. Marx Co., which owns the ground beneath the 139,540-square-foot office building at 545 Madison Ave. in midtown Manhattan, has completed its assumption of the building itself. The move came after...

Commercial Real Estate Direct Staff Report StoneBridge Investments has paid $62.5 million, or $191,901/unit, for the 324-unit Columns at Wakefield apartment property in Raleigh, N.C. The Washington, D.C. multifamily specialist bought the property from Passco Cos. of Irvine,...

REBusiness Online Cohen Asset Management has completed the sale of two industrial buildings totaling 292,185 square feet in Tolleson, Ariz., and Tempe, Ariz., for $45.3 million. KKR & Co. acquired the 249,904-sf building at 8313 West Latham St....

Blackstone Real Estate Income Trust Inc. has paid $275 million, or $763.89/sf, for two office buildings with 357,106 square feet at 1143 and 1155 Coleman Ave. in San Jose, Calif. The non-traded REIT bought the buildings, #1 and...

Commercial Real Estate Direct Staff Report Bank of America has provided $280 million of mortgage financing against the global headquarters building of McDonald's Corp. in Chicago. The 575,018-square-foot building, constructed two years ago at 110 North Carpenter St.,...

Kennedy Wilson has purchased a stake in three apartment properties with 880-units in Tempe, Ariz., Colorado Springs, Colo., and Broomfield, Colo., in a deal valued at $198 million. The properties are: Rockrimmon, with 260 units at 5824 Walsh...

Commercial Real Estate Direct Staff Report The Federal Housing Finance Agency, which regulates both Fannie Mae and Freddie Mac, has set a $70 billion lending cap for next year for each of the two agencies. That compares with...