Valuation: More than $150 million

Vornado Realty Trust has secured $500 million of financing against Penn 11, a 1.2-million-square-foot office building in Manhattan. The interest-only loan, from an undisclosed lender, pays a coupon of Libor plus 275 basis points and matures in October 2025. The ...

CARROLL has acquired three apartment properties with a total of 1,598 units in the Atlanta area for $220 million. The Atlanta investment manager purchased the properties on behalf of Carroll Multifamily Venture VI LP, a $125.2 million investment vehicle that was ...

Commercial Observer A venture of MAG Partners, Atalaya, Safanad and Qualitas, an Australian asset manager, has secured $173 million of construction financing for a 479-unit apartment project in Manhattan. Madison Realty Capital provided the three-year loan, which was arranged by ...

Pyramid Cos. has reached an agreement for the modification of a CMBS loan against another of its shopping malls. That brings the volume of loans for which the Syracuse, N.Y., developer has reached modification agreements to $2 billion, or 91 ...

Commercial Real Estate Direct Staff Report The $168 million mortgage against the Park Place Mall in Tucson, Ariz., has moved to special servicing as it's expected to default. The property's owner, meanwhile, has indicated that it is unwilling to invest ...

DivcoWest has completed raising capital for its latest fund, DivcoWest Fund VI, after having reached its hard cap of $2.25 billion of equity commitments. The fund, which the San Francisco investment manager had launched a year ago, is its largest ever. ...

Taurus Investment Holdings has acquired a 75 percent stake in six seniors-housing properties with 507 units in the Boston area in a deal valuing the portfolio at $200 million, or $394,477/unit. The properties have been leveraged with $140.6 million of ...

Commercial Observer Credit Suisse has provided $300 million of financing against Factory LIC, a 1.1 million-square-foot office complex in Queens, N.Y. The loan allowed the property's owner, a venture of Atlas Capital Group, Invesco and Partners Group, to retire $160 million ...

Commercial Real Estate Direct Staff Report The owner of the Fontainebleau Miami Beach hotel has negotiated the modification of the property's $975 million CMBS loan. The owner, Fontainebleau Development, is now able to defer the hefty deposits - $285,000 monthly ...

Greystone has written a $289.3 million Freddie Mac loan for the Summit, a recently completed 429-unit apartment building a block and a half from the United Nations headquarters in Manhattan's midtown east area. The loan allowed the 43-story building's developer, ...