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...
Tampa Bay Business Journal American Landmark Apartments has paid $134 million, or about $301,802/unit, for the Pointe on Westshore, a 444-unit apartment property in Tampa, Fla. The local company purchased the property from its developer, Index Investment Group...
Commercial Real Estate Direct Staff Report Ferrado Properties Inc. has paid $39.1 million, or $1,503/sf, for the 26,834-square-foot office property at 801 Boylston St. in the Back Bay section of Boston. The Newport Beach, Calif., investor bought the...
Commercial Real Estate Direct Staff Report American Eagle will vacate the 192,322 square feet it occupies at 393-401 Fifth Ave. in midtown Manhattan as part of a broader consolidation. As reported, the retailer had signed a lease for...
HotelBusiness.com Hudson Bay Capital has provided $55 million of financing against the 561-room DoubleTree by Hilton Hotel Denver. The floating-rate financing has a two-year term, but comes with a 12-month extension option. The loan allows the owners of...
Commercial Real Estate Direct Staff Report Highwoods Properties Inc. had signed 97 office leases for 922,000 square feet during the first quarter, a significant increase from the 520,000 sf of deals inked during the same period a year...
The Real Deal A venture of Intercontinental Real Estate and Harvest Properties is offering for sale the Kohl Building, an 85,600-square-foot office property in San Francisco. Intercontinental, of Boston, and Harvest, of Oakland, Calif., has hired JLL to...
South Florida Business Journal An affiliate of Blackstone Group has bought the 346-room W Fort Lauderdale hotel in Fort Lauderdale, Fla., for $97.65 million, or about $282,225/room. The New York company purchased the property from the Related Cos.,...
The Real Deal Jade Enterprises is offering for sale the 284,500-square-foot office property at 660 South Figueroa St. in Los Angeles. The Los Angeles company has hired Newmark to sell the property, which it acquired in 2014 for...
The Massachusetts Housing Finance Agency has provided $50 million of financing under the U.S. Department of Housing and Urban Development's 223(f) program for the 501-unit Clarendon Hill Towers Apartments in the Boston suburb of Somerville, Mass. MassHousing is...
Commercial Real Estate Direct Staff Report Pier Property Group has sold the Flats at Dorsett Ridge, a 214-unit apartment property in Maryland Heights, Mo., for $54.1 million, or $252,803/unit. The St. Louis developer sold the property to an...
Commercial Real Estate Direct Staff Report The Wasatch Group has sold the 240-unit Crossroads Apartments in West Valley City, Utah. The sales price could not be learned immediately. But the property was appraised last year at a value...
BisNow JPMorgan Chase Bank has taken title to the Foundry, a 256,000-square-foot office property in Washington, D.C., through foreclosure. The bank had provided $58 million of financing against the property, at 1055 Thomas Jefferson St. NW, in 2014...
Commercial Real Estate Direct Staff Report Columbia St. Mary's Inc. has decided not to renew its lease for 130,901 square feet at the East Lake Tower Corporate Center office property in Glendale, Wis. The exit was highlighted recently...
Commercial Real Estate Direct Staff Report KRL Legacy LLC has paid $26.65 million, or $246.76/sf, for Pike Distribution Center, a 108,000-square-foot industrial property in Auburn, Wash. The company, an affiliate of Ace Relocation System Inc., purchased the property...
Commercial Real Estate Direct Staff Report Hagerstown Premium Outlets, a 484,994-square-foot retail property in Hagerstown, Md., has had its appraised value cut again, to $32.5 million, putting it 79 percent lower than the $150 million value pegged to...
Commercial Real Estate Direct Staff Report Benchmark Real Estate has paid $43 million, or $704,918/unit, for the 61-unit apartment property at 194 East 2nd St. in the East Village section of Manhattan. The New York investment manager bought...
Commercial Real Estate Direct Staff Report The appraised value of the 127-unit apartment property at 1209 DeKalb Ave. in Brooklyn, N.Y., has been slashed to $37.2 million, well less than the $46 million mortgage against it. The loan...
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