Commercial Real Estate Direct Staff Report Phillips Edison & Co. has paid $51.5 million, or $165.36/sf, for the 311,440-square-foot Westgate Shopping Center in Fairview Park, Ohio. The Cincinnati REIT purchased the open-air retail property from RH Johnson Co....

Bisnow Shorenstein Properties has paid $84.3 million, or $384.93/sf, for the 219,000-square-foot office building at 901 K St. NW in Washington, D.C. The San Francisco investor acquired it from Carr Properties of Washington. Shorenstein lined up a $74.3...

Commercial Real Estate Direct Staff Report The value of a 699,584-square-foot office portfolio in Midland, Texas, has been slashed to $65.9 million. That's down 40.25% from 2019, when the five-building portfolio's securitized debt was originated. At that time,...

Worcester Business Journal Apollo Global Management has paid $96.18 million, or $386,265/unit, for the 249-unit Parc Westborough Apartments in Westborough, Mass. The New York investor acquired the four-building property from Cottonwood Residential of Salt Lake City, which had paid...

Commercial Real Estate Direct Staff Report Panattoni Development Co. has sold the 169,027-square-foot industrial property at 400 East Parr Blvd. in Reno, Nev., for $20.5 million, or $121.28/sf. The Irvine, Calif., investor sold it to a limited liability...

An affiliate of Ares Management Corp. has paid $50 million for two industrial properties totaling 192,380 square feet in suburban Boston. The Los Angeles investor acquired the properties from Marcus Partners Real Estate of Boston. The properties are...

Multi-Housing News CBRE Multifamily Capital has provided $42 million of financing to facilitate the acquisition of The Maxwell, a 325-unit apartment complex in the Dallas suburb of Frisco, Texas. CONAM Group, through its CONAM Strategic Investments Fund IV...

Commercial Observer Truist Financial has provided a $140 million loan against the 418-unit Shoregate apartment property in the Long Island town of Bay Shore, N.Y. The property is owned by Tritec Real Estate of Ronkonkoma, N.Y. The loan...

South Florida Business Journal Ponte Gadea has bought Veneto Las Olas, a 259-unit apartment building in Fort Lauderdale, Fla., for $165 million, or $637,066/unit. The Miami company, which is led by Spanish billionaire Amancio Ortega, purchased the 46-story...

Commercial Real Estate Direct Staff Report PGIM Real Estate has provided $50 million of financing against Trulee Evanston, a seniors-housing property with 160 units in Evanston, Ill. The loan, which pays a floating-rate coupon, was arranged on behalf...

Commercial Observer SL Green Realty Corp. has hired Eastdil Secured to market for sale two properties at 110 Greene St. and 690 Madison Ave. in Manhattan for a combined $300 million. The New York REIT is looking to...

Crain's Chicago Business An affiliate of Ares Management has paid $58.2 million, or $135.47/sf, for Park 88 Logistics Center, a 429,623-square-foot warehouse property in North Aurora, Ill. The Los Angeles investment manager purchased the two-building industrial property from...

Bridge Housing has paid $55.2 million, or $276,000/unit, for the 200-unit Vue Kirkland apartment property in the Seattle suburb of Kirkland, Wash. The developer was formed in 1983 by the city of San Francisco as the Bay Area...

Commercial Real Estate Direct Staff Report Community HousingWorks has paid $38.3 million, or $303,968/unit, for the 126-unit NOVO Apartments in the Los Angeles suburb of Rowland Heights, Calif. The San Diego nonprofit purchased the property, at 1940 Fullerton...

Atlanta Journal Constitution A venture of CP Group and Bawag Group has paid $200 million, or $90.91/sf, for the 2.2 million-square-foot Piedmont Center office complex in Atlanta. The venture—CP is a Boca Raton, Fla., office investor and Bawag is...

The Real Deal Inmobiliaria Brom has lined up $52.2 million of financing against its Onyx Tower, a 285,400-square-foot office building in Aventura, Fla. Barings provided the loan, which has a three-year term but comes with a pair of...

Blackstone has provided $231 million of financing against a portfolio of 43 industrial outdoor-storage, or IOS, properties owned by Jadian Capital. The loan, funded by the investment manager's real estate debt strategies platform, was arranged by JLL Capital...

The Real Deal Capstone Equities has initiated a foreclosure under the Uniform Commercial Code against the subordinate financing it holds on the 400,000-square-foot office property at 141 Willoughby St. in downtown Brooklyn, N.Y. The property, across from the...

Commercial Real Estate Direct Staff Report Voya Investment Management has provided $31.25 million of financing against the 336-unit Cabana Bullard apartment property in Goodyear, Ariz. BWE arranged the three-year, floating-rate loan on behalf of the property's owner, Greenlight...

Spartanburg Post and Courier BridgeGaps Real Estate has paid $53 million, or $178,451/unit, for the Lively Drayton Mills, a 297-unit apartment complex in Spartanburg, S.C. The New York multifamily investment and management firm purchased the property Orange Capital...

Commercial Property Executive MetLife has provided $52 million of financing against the Shoppes at Westlake Village, a 104,500-square-foot retail center in Thousand Oaks, Calif. The loan allows the owner of the property, Selleck Development Group of Westlake Village,...

MKD Investments LP has paid $23.5 million, or $153.67/sf, for the 152,925-square-foot Pine Creek Business Park industrial property in Santa Rosa, Calif., in the state's wine country. The family office of long-time real estate professionals Patrick and Darla...

Commercial Real Estate Direct Staff Report Apollo Global Management's Athene Annuity and Life Co. affiliate has committed to lend up to $230.8 million for the construction of the 163-unit Andares Residences condominium building in Fort Lauderdale, Fla. The...

The Real Deal Brookfield Properties is nearing a deal to acquire a 49% ownership stake in 63 Madison Ave. in Manhattan's Midtown South area, in a deal that would value the 865,000-square-foot office building at about $400 million....

Crain's Chicago Business Tandem is offering for sale Avra West Loop, a 198-unit apartment property in Chicago. The local owner and developer hired CBRE to market the property, which is expected to fetch around $79 million. Avra West...