RECENT NEWS
119-Unit Apartment Property Near Los Angeles Sells for $47.6Mln
Multi-Housing News Amoroso Cos. has paid $47.6 million, or $400,000/unit, for Sofi at Topanga Canyon, a 119-unit apartment property in Chatsworth, Calif., about 30 miles northwest of downtown Los Angeles. The Calabasas, Calif., company acquired the property from...
Venture Lines Up $130Mln Loan for Netflix-Leased Manhattan Office
DekaBank and Credit Agricole have provided $130.5 million of mortgage financing for the two-building office property at 880-888 Broadway and 33-35 East 18th St. in Manhattan's midtown south submarket. The loan allowed the 222,436-square-foot property's owner, a venture...
INITIAL PRICING: Morgan Stanley Bank of America Merrill Lynch Trust, 2025-5C2
Class Amt $mln Sub Level % Avg Life (yrs) Rating S&P Rating Fitch Rating Kroll Price % Yield % Final Pricing (bp) Bnch mrk A-2 215.21 30.00 4.80 AAA AAA AAA 100.99781 4.3984 +80 J-spread A-3 262.54...
Hines Pays $63Mln for Tuckahoe, N.Y., Apartments
Hines Interests has paid $63 million, or $583,333/unit, for the 108-unit Quarry Place at Tuckahoe apartment property in the Westchester, N.Y., village of Tuckahoe. The Houston investment manager acquired the property, at 64 Midland Place, from Veris Residential...
Gantry Arranges $48.9Mln HUD Loan for Calif. Apartments
Gantry has arranged a $48.9 million loan under a U.S. Department of Housing and Urban Development program for the 166-unit Silvergate Apartments in Brentwood, Calif., in San Francisco's East Bay region. The 35-year loan allowed the property's owner,...
Plymouth Industrial Agrees to be Acquired in $2.13Bln Deal
A venture of Makarora Management and Ares Management Corp. has agreed to buy Plymouth Industrial REIT Inc. for $22/share in an all-cash deal valued at about $2.13 billion, including the assumption of debt. Plymouth is a former non-traded...
Belk HQ in Charlotte, N.C., Sees Big Drop in Appraised Value
Commercial Real Estate Direct Staff Report The appraised value of the 473,698-square-foot office building at 2801 West Tyvola Road in Charlotte, N.C., has been slashed to $37.7 million. That's down 61.1% from the $96.99 million value pegged to...
Greystone Lends $46Mln Against Durham, N.H., Student-Housing Property
Commercial Observer Greystone has provided a $46 million Freddie Mac loan against the 126-unit Madbury Commons student-housing property near the University of New Hampshire's main campus in Durham, N.H. The 10-year loan requires only interest payments for its...
$188Mln Mortgage on Phila.’s 1700 Market St. Office Headed to Foreclosure
Commercial Real Estate Direct Staff Report The CMBS trust that holds the $188 million loan against the 850,209-square-foot 1700 Market St. office building in downtown, or Center City, Philadelphia has initiated foreclosure efforts. The floating-rate loan is securitized...
TruAmerica Buys Seattle-Area Apartment Property for $47.2Mln
Commercial Real Estate Direct Staff Report TruAmerica has paid $47.2 million, or $240,816/unit, for the 196-unit Plum Tree Park apartment property in the Seattle suburb of Renton, Wash. The Los Angeles investment manager bought the property from an...
Affinius Lends $76.25Mln to Fund Sculptor’s $122Mln Purchase of Ohio Warehouse
Commercial Real Estate Direct Staff Report Affinius Capital has provided $76.25 million of mortgage financing to facilitate Sculptor Real Estate's $122 million, or $93.85/sf, purchase of the 1.3 million-square-foot Scotts Midwest Distribution Center in the Columbus, Ohio, suburb...
Black Diamond Bought Loan Against Palisades Center Mall
Commercial Real Estate Driect Staff Report Black Diamond Capital Management purchased the distressed $418.5 million CMBS loan against the Palisades Center Mall in New York's Rockland County. As reported, the loan's sale resulted in a $231.45 million loss to...
Chandler, Ariz., Apartments Sell for $46Mln, Down 18% Since Last Sale in 2021
Commercial Real Estate Direct Staff Report An investor group led by Spencer David Tam has paid $46 million, or $282,208/unit, for the 163-unit Monument apartment property in the Phoenix suburb of Chandler, Ariz. The group bought the property...
AmTrust RE to Pay $217Mln for Manhattan’s 260 Madison Ave. Office
Correction: The following item has been edited to correct the agreed to purchase price, which previously was overstated. The Real Deal AmTrust RE has agreed to pay $217 million, or just less than $381/sf, for the 570,000-square-foot office...
Webster Bank Lends $33.84Mln for Purchase of Brooklyn, N.Y., Medical Office
Webster Bank has provided a $33.84 million loan to help fund the $42.3 million, or $287/sf, purchase of the 147,520-square-foot medical office building at 6201 15th Ave. in the Borough Park section of Brooklyn, N.Y. The Stamford, Conn.,...
US Bank Lends $63.2Mln for Las Vegas Apartments
Commercial Real Estate Direct Staff Report An affiliate of US Bank has provided $63.2 million of mortgage financing against the 302-unit Aspire at Redwood apartment property in Las Vegas. The 10-year loan, which was arranged by Gantry, requires...
164-Unit Apartment Property in Glendale, Ariz., Sells for $20Mln
Commercial Real Estate Direct Staff Report A California investor group has paid $20 million, or $121,951/unit, for the 164-unit Summer Point apartment property in Glendale, Ariz. The group is led by Charles J. Novogradac, an Orinda, Calif., investor....
Venture Pays $165Mln for Cliffside Park, N.J., Apartments
Hyperion Group has formed a venture that has paid $165 million, or $525,377/unit, for the 314-unit Centre apartment property in the northern New Jersey borough of Cliffside Park. The Miami developer partnered with Lawrence Benenson of New York's...
Cap Rates for Net-Leased Properties Remained Nearly Flat in 3Q
Commercial Real Estate Direct Staff Report The weighted average capitalization rate for net-leased properties that were offered for sale in the third quarter increased by 1 basis point to 6.8% from the second quarter, according to the Boulder...
City of Austin Pays $41.1Mln for 143-Acre Former BAE Systems Campus
Austin Business Journal The City of Austin, Texas, has paid $41 million for 6500 Tracor Lane, a 143-acre parcel that's home to 2.4 million square feet of office, industrial, storage, and parking space in the state capital. Karlin...
Mesirow Fund Buys Atlanta-Area Apartment Complex for $87Mln
Atlanta Business Chronicle A fund sponsored by Mesirow has paid $87 million, or $290,970/unit, for the 1105 Town Brookhaven Apartments in the Atlanta suburb of Brookhaven, Ga. The investment vehicle, Mesirow Financial Real Estate Value Fund V, purchased...
TA Realty Affiliate Buys Palm Beach Gardens, Fla., Apartments for $193Mln
South Florida Business Journal An affiliate of TA Realty has bought the San Merano at Mirasol Apartments, a 476-unit property in Palm Beach Gardens, Fla., for $193 million, or $405,462/unit. The Boston company purchased the complex from LivCor,...
Santander Lends $19.5Mln Against Tucson, Ariz., Apartments
Commercial Real Estate Direct Staff Report Santander Bank has provided $19.5 million of mortgage financing against the 322-unit Villas Las Mandarinas apartment property in Tucson, Ariz. The loan, arranged by JLL Capital Markets, allowed the property's owner, GDL...
Los Angeles-Area Industrial Property Sells for $109Mln
Commercial Property Executive Bridge Logistics Properties has paid $109 million, or $242.22/sf, for the 450,000-square-foot industrial property at 18501 and 18385 San Jose Ave. in City of Industry, Calif., about 24 miles east of Los Angeles. The New...
Northern Washington Apartment Property Sells for $47.9Mln
Commercial Real Estate Direct Staff Report HB Management has paid $47.9 million, or $237,128/unit, for the 202-unit Barkley Apartment Homes in Bellingham, Wash., near the state's border with Canada. The Seattle multifamily investor acquired the property, at 3126...
About
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
