Top News
149-Unit Apartment Property Near San Francisco Sells for $87Mln
Silicon Valley Business Journal Interstate Equities Corp. has paid $87 million, or $583,892/unit, for mResidences Mountain View, a 149-unit apartment complex in Mountain View, Calif., a city that's 39 miles south of San Francisco. The Los Altos, Calif., real estate...
Santander Lends $88Mln for Development of Greenwich, Conn., Apartments
Commercial Observer Santander Bank has provided $88 million of financing for the development of the 120-unit Benedict Court apartment property in Greenwich, Conn. Cushman & Wakefield arranged the financing. The property is being developed at 7-23 Benedict Place by a...
$260Mln CMBS Loan Against Manhattan’s 5 Penn Plaza Gets Term Extension
Commercial Real Estate Direct Staff Report The $260 million CMBS loan against the 5 Penn Plaza office building in midtown Manhattan has been extended by two years through January 2028. The loan, which initially matured this month, transferred to special...
Minneapolis-Area Apartment Property Sells for $50.45Mln
Minneapolis/St. Paul Business Journal Oaks Properties has paid $50.45 million, or $249,752/unit, for the Eddi, a 202-unit apartment property in Edina, Minn., about 11 miles south of Minneapolis. The Minneapolis management company acquired the property, at 4911 West 77th St.,...
Life-Science Property in Queens, N.Y., Sells for $34.5Mln
North River Co. has paid $34.5 million, or $192.54/sf, for the 179,188-square-foot Alexandria Center for Life Science property in the Long Island City section of Queens, N.Y., according to a report in Commercial Observer. The New York investment manager, formerly...
Los Angeles Office Property Sells for $61Mln
Commercial Real Estate Direct Staff Report A venture of Hankey Investment Co. and Barker Pacific Group has paid $61 million, or $187.12/sf, for Sunset Media Center, a 325,995-square-foot office property in Los Angeles. Hankey and Barker Pacific, both of...
Is the Elevated Delinquency for CMBS Mall Loans A Sign of Opportunity?
The $53.23 billion universe of CMBS loans against regional and superregional malls tracked by Trepp Inc. has an 11.2% delinquency rate. It might be an optimistic signal.
Houston’s Kirkwood Tower Office Building Gets New Owner
Houston Business Journal DZMI has purchased Kirkwood Tower, a 285,682-square-foot office building in Houston's Energy Corridor. The local company bought the 15-story property from an affiliate of Apollo Global Management of New York, which had acquired it last summer. JLL...
JRK Property Pays $400Mln for 3-Property Apartment Portfolio
Commercial Real Estate Direct Staff Report JRK Property Holdings has paid $400 million for three apartment properties totaling 803 units in Seattle, Los Angeles, and Hoboken, N.J. The Los Angeles investment manager bought the properties from Equity Residential of...
Cawley Partners Buys Harwood No. 1 Office Building in Dallas
Dallas Business Journal Cawley Partners has bought Harwood No. 1, a 106,000-square-foot office building in Dallas from the lender that had taken title to it late last year. The local company purchased the seven-story property from First United Bank,...
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.
