RECENT NEWS
GSA Taps JLL to Sell 941,463-SF Office Building in Washington, D.C.
Washington Business Journal The General Services Administration has tapped JLL to market for sale the 941,653-square-foot office property at 301 Seventh St. SW in Washington, D.C. The property is situated within L’Enfant Plaza and was constructed in the...
Industrial Property in Sacramento, Calif., Area Sells for $96.3Mln
Commercial Property Executive NorthPoint Development has paid $96.3 million, or $135.11/sf, for the 712,733-square-foot Sierra View Business Park industrial property in the Sacramento, Calif., suburb of Roseville, Calif. The Kansas City, Mo., company bought the property, at 8860-8800...
Ladder Lends $28.54Mln for Units at Busted Condo in Tampa, Fla.
Ladder Capital Corp. has committed to lend up to $28.54 million against 248 units at the 260-unit Serenity Lake garden-style apartment property in Tampa, Fla. The mortgage REIT funded $23.25 million of the commitment and will fund the...
Los Angeles-Area Office Sells for $40Mln
Washington Capital has paid $40 million, or $509.50/sf, for the 78,509-square-foot office property at 501 Santa Monica Blvd. in Santa Monica, Calif., a city that’s 16 miles west of Los Angeles. The Seattle investment manager purchased it from...
CONAM Paid $43Mln for Las Vegas Apartment Property
Commercial Real Estate Direct Staff Report CONAM paid $43 million, or $238,888/unit, for the 180-unit Reverb at Spring Valley apartment property in Las Vegas. The deal previously was reported but the price paid was not known. CONAM, a San...
Brandywine Plans Office-to-Resi Conversion in Wilmington, Del.
Commercial Real Estate Direct Staff Report Brandywine Realty Trust is planning to convert part of the 298,071-square-foot office building at 300 Delaware Ave. in downtown Wilmington, Del., into 232 apartment units. The 17-story building was just 50.6% occupied...
Rudin Associate Julia Hyman Also Victim of Midtown Shooter
Julia Hyman, an associate at Rudin Management, was killed yesterday by gunman Shane Tamura, according to the New York Post. Hyman was one of four people that Tamura killed before taking his own life. The others were Wesley LePatner,...
Anaheim, Calif., Office Property Sells for $62.5Mln
L.A. Business First A venture of ParkTerra and Jen Partners has paid $62.5 million, or $203.78/sf, for the 306,700-square-foot Axis office property in Anaheim, Calif. ParkTerra, of Laguna Beach, Calif., and Jen Partners, of New York, acquired it...
Galvanize Real Estate Pays $112Mln for Md. Industrial Portfolio
Commercial Observer Galvanize Real Estate has paid $112 million, or $163.90/sf, for a portfolio of five industrial properties with 683,330 square feet in Maryland. The San Francisco investor, an affiliate of Galvanize Climate Solutions, which was launched in...
Piedmont Sells Mass. Office Complex for $29.5Mln
Commercial Real Estate Direct Staff Report Piedmont Realty Trust has sold the 321,208-square-foot office complex at 80 and 90 Central St. in the Boston suburb of Boxborough, Mass., for $29.5 million, or $91.84/sf. The Atlanta REIT sold the...
BREIT’s Wesley LePatner Among Victims of Midtown Shooter
Wesley LePatner, chief executive of Blackstone Real Estate Income Trust Inc., was among those killed in yesterday's shooting at 345 Park Ave. in midtown Manhattan, according to a report in the New York Post. LePatner, 43, was shot...
Mesa West Lends $55Mln Against Burton House Beverly Hills Hotel
Mesa West Capital has provided $55 million of mortgage financing against the 186-room Burton House Beverly Hills hotel at the southern end of Beverly Hills, Calif. The loan allowed the property's owner, Seaview Investors of Newport Beach, Calif.,...
Canyon Partners Lends $106.3Mln Against Chicago Apartments
Canyon Partners Real Estate has provided $106.3 million of financing against the 248-unit Saint Grand apartment property in Chicago. JLL Capital Markets arranged the loan on behalf of the property's developer and owner, Mavrek Development of Chicago. Construction...
Empire State Realty Sees Big Jump in Volume of New Leases in Latest Quarter
Commercial Real Estate Direct Staff Report Empire State Realty Trust Inc. recorded 221,776 square feet of office leasing during the second quarter. While that was down from the 261,311 sf it recorded a year ago, the bulk of...
Affinius Lends $340Mln Against 603-Unit Apartment Property in Brooklyn, N.Y.
Affinius Capital has provided $340 million of mortgage financing against the 603-unit apartment property at 313 Bond St. in the Gowanus section of Brooklyn, N.Y. The loan allows the property's developer, Sky Equity Group of New York, to...
Park Hotels Brings Chicago Hotel to Sales Market
Crain's Chicago Business Park Hotels & Resorts is offering for sale the 403-room Midland Hotel Chicago in the city's Loop neighborhood. The Tysons, Va., REIT hired JLL to market the property, at 172 West Adams St., which it...
EastGroup Pays $47Mln for Life-Sciences Building in Durham, N.C.
Triangle Business Journal EastGroup Properties has bought the 250,541-square-foot life-sciences building at 2360 Ferrell Road in Durham, N.C., for $47 million, or $187.59/sf. The Ridgeland, Miss., REIT purchased the property from a venture of Scannell Properties and Manulife...
Weidner Buys Charlotte, N.C., Apartment Complex for $61.2Mln
Charlotte Business Journal Weidner Apartment Homes has bought the CityPark View Apartments, a 448-unit complex in Charlotte, N.C., for $61.2 million, or $136,607/unit. The Kirkland, Wash., company purchased the property from Preferred Apartment Communities of Atlanta. CityPark View, at...
Thorofare Lends $36.04Mln for Industrial Property in Austin, Texas, Area
Thorofare Capital has provided $36.04 million in financing to Olive Co. to refinance a land-acquisition loan and fund the completion and lease-up of the first phase of the McCarty Park industrial complex in San Marcos, a suburb of...
JPMorgan Pays $243.5Mln for Apartments in Manhattan’s Hell’s Kitchen
Commercial Real Estate Direct Staff Report JPMorgan Investment Management Inc. has paid $243.5 million, or $518,535/unit, the 418-unit Riverbank apartment property in Manhattan's Hell's Kitchen neighborhood. The investment manager bought the property from Barings LLC's RB Apartments operation,...
UBS Invests $30Mln in Manhattan’s 20 Exchange Place
UBS' Unified Global Alternatives operation has made a $30 million investment in the 767-unit 20 Exchange Place apartment property in Manhattan's Financial District. The property is owned by a venture of Dermot Co. and Dutch pension fund PGGM,...
180-Unit Apartment Property in Las Vegas Trades Hands
Commercial Real Estate Direct Staff Report CONAM has acquired Reverb at Spring Valley, a 180-unit apartment property in Las Vegas. The purchase price could not be learned immediately. The San Diego investment manager, formed in 1975 as a...
Parkview Lends $64Mln for Construction of Southern Calif. Apartments
Parkview Financial has provided $64 million of financing for the construction of the 248-unit Haven + Arrow apartment complex in Rancho Cucamonga, Calif. Westport Construction of Monrovia, Calif., is building the property at 8500 Haven Ave., about 40...
BentallGreenOak Buys Seattle-Area Industrial Property for $176Mln
Puget Sound Business Journal BentallGreenOak has paid $176 million, or $233.73/sf, for a 753,000-square-foot industrial building at 6921 192nd St. East in Frederickson, Wash. The Miami investment firm acquired the property from its developers, Panattoni and Crow Holdings,...
CBL Sells Shopping Center Near Biloxi, Miss., for $83.1Mln
Biloxi Sun Herald CBL Properties has sold The Promenade shopping center in the Biloxi, Miss., suburb of D’Iberville, Miss., for $83.1 million, or $133.82/sf. The Chattanooga, Tenn., REIT sold the 621,000-square-foot retail property to an unidentified investor. The...
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