Commercial Real Estate Direct Staff Report Average monthly rents for apartment units nationally increased in the first quarter by 0.4 percent from a year ago, to $2,163, according to CBRE. That number is unchanged from the fourth quarter....
A venture of Hines and Trez Capital has lined up $108 million of financing against a portfolio of 13 self-storage properties with a total of 8,952 units in the Dallas-Fort Worth area. New York Life Real Estate Investors...
The Real Deal WS Communities is offering for sale 11 apartment properties with 399 units in Santa Monica, Calif. The local development firm has hired JLL to market the properties, which it has owned since the early 2000s....
Commercial Real Estate Direct Staff Report The $21.5 million loan against a portfolio of three Oklahoma hotels with 320 rooms has transferred to special servicing as it had defaulted at its maturity last month. The transfer, to special...
REBusiness Online BentallGreenOak has paid $44 million, or $425.12/sf, for Baylis 495 Business Park, a 103,500-square-foot industrial property in the Long Island, N.Y., hamlet of Melville, N.Y. The Miami investment manager acquired the property, at 125 Baylis Road,...
Commercial Real Estate Direct Staff Report Mill Creek Residential has paid $26.25 million for a 139,223-square-foot development site in Kirkland, Wash., on which it will develop an apartment property. The Boca Raton, Fla., developer purchased the property from...
Commercial Observer L+M Fund Management has paid $84.6 million, or $53,207/unit, for Knickerbocker Village, a 1,590-unit affordable-housing property in lower Manhattan. The affiliate of L+M Development Partners of Manhattan acquired the property, at 10-20 Monroe St., from Stellar...
Commercial Observer JPMorgan Chase Bank has provided a $430 million loan against Tower 77, a 766-unit apartment property in Brooklyn, N.Y. The three-building property, at 77 Commercial St., is owned by Clipper Equity of Brooklyn. Galaxy Capital of...
BisNow AIR Communities has paid $129.8 million, or $361,559/unit, for Flats 8300, a 359-unit apartment property at 8300 Wisconsin Ave. in Bethesda, Md. The Denver REIT acquired the property from Invesco Real Estate of Atlanta, which had purchased...
Commercial Real Estate Direct Staff Report The Oglethorpe Mall in Savannah, Ga., has been re-appraised at a value of $129.7 million, just less than the $133.28 million that is owed against it. Its indebtedness is split into two...
Crain's Chicago Business Two suburban Chicago apartment properties with a combined 656 units are being offered for sale. Broadshore Capital Partners has hired Berkadia to market for sale Ascend St. Charles, with 400 units at 100 Lakeside Drive...
Commercial Real Estate Direct Staff Report QR Real Estate Capital, an affiliate of QuadReal Property Group, has provided $102.5 million of financing for the proposed 228-unit apartment property at 870-888 Atlantic Ave. in Brooklyn, N.Y. QuadReal is a...
Milstein Properties has inked leases with five tenants for a total of 460,000 square feet at 22 Vanderbilt, a 1.19 million-sf office property across from Grand Central Terminal in midtown Manhattan. Bain & Co. took 235,000 sf and...
Tampa Bay Business Journal An affiliate of Blackstone Group has paid $94.5 million, or $157.50/sf, for Tampa Commerce Center, a 600,000-square-foot industrial complex in Tampa, Fla. The New York investment giant purchased the four-building property from Hines of...
Commercial Real Estate Direct Staff Report The pending departure of American Eagle Outfitters as a tenant at 393-401 Fifth Ave. in midtown Manhattan likely will make it challenging for the office building's $95 million mortgage to get refinanced. As...
Commercial Real Estate Direct Staff Report The 210,002-square-foot industrial property at 940 Ridgebrook Road in the Baltimore suburb of Sparks Glencoe, Md., which last year lost its sole tenant, has been appraised at a value of only $9.5...
The Real Deal A venture of Goldman Sachs and Ballast Investments is said to be surrendering to its lender a portfolio of 82 apartment properties with 1,200 units in San Francisco in a deed-in-lieu of foreclosure. The venture...
The Real Deal Bank of America has provided $150 million of financing against Westwood Gateway II, a 549,000-square-foot office property in Los Angeles. The 10-year loan pays a fixed rate of 5.56 percent and is expected to be...
Commercial Real Estate Direct Staff Report CBRE has provided $35.38 million of Fannie Mae financing to facilitate the purchase of Parc Lofts, a 258-unit apartment property in Tolleson, Ariz., about 12 miles from Phoenix. Millburn & Co. bought...
Commercial Real Estate Direct Staff Report Illinois Center, a two-building office complex with 2.1 million square feet in Chicago's East Loop submarket that long has struggled with occupancy, last month missed a debt-service payment on its $243.88 million...
Madison Realty Capital and Unity Capital have provided $100 million of financing for the development of a 299-unit apartment property at 144 Broadway Place in Long Branch, N.J. Madison Realty funded an $85 million construction loan, while Unity...
The Real Deal Metropolitan Life Insurance Co. is offering for sale the 372,600-square-foot office property at 550 West Washington Blvd. in Chicago. The New York company has hired JLL to market the property, which it had purchased in...
Commercial Real Estate Direct Staff Report Yellowstone Real Estate Investments paid $185.9 million, or $308/sf, for the 603,928-square-foot office building at 1740 Broadway in Manhattan. The New York investment manager had been expected to buy the distressed $308 million...
Terreno Realty has paid $364.5 million for a portfolio of 28 industrial buildings with 1.2 million square feet in the New York, New Jersey, Los Angeles and San Francisco areas. The portfolio, believed to have been acquired from...
REBusiness Online Thrivent has provided $41 million of financing to facilitate Hillwood Investment Properties' purchase of an industrial portfolio with 893,458 square feet in the Memphis, Tenn., area. CBRE Capital Markets arranged the financing. Hillwood, a Dallas company...
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