Avanath Capital Pays $119Mln for Chicago Apartment Property
March 31, 2023
Development Site in Center City Phila. Hits Sales Market
March 31, 2023
Valuation: More than $150 million
JPMorgan Lends $500Mln Against Unsold Condos at Manhattan’s Central Park Tower
The Real Deal JPMorgan Chase Bank has provided $500 million of financing against 87 unsold condominium units at Manhattan's Central Park Tower at 217 West 57th St. The loan was used by the property's developer, Extell Development, to retire $380 million ...
NewPoint Writes $153.6Mln Freddie Loan Against Jersey City, N.J., Apartments
NewPoint Real Estate Capital has provided $153.6 million of Freddie Mac financing against The One, a 451-unit apartment property along the Hudson River waterfront in Jersey City, N.J. The property was developed in 2015 by BLDG Management at 110 First ...
Abraham Trust Places Winning Bid of $190Mln for Manhattan’s Flatiron Building
The Real Deal Abraham Trust, led by Jacob Garlick, placed the winning bid of $190 million, or $745/sf, for the iconic Flatiron Building at 175 Fifth Ave. in Manhattan. The 121-year-old property was auctioned through Mannion Auctions in order to ...
BKM/Investcorp Venture Pays $157.8Mln for Las Vegas Industrial Portfolio
Commercial Property Executive A venture of BKM Capital Partners and Investcorp has paid $157.8 million, or $213.24/sf, for a portfolio of four industrial properties with 740,000 square feet in Las Vegas. BKM, of Newport Beach, Calif., and Investcorp, of Los ...
Cash Flow Issues for NYC Apartment Portfolio Prompts Moody’s to Make Downgrades
Commercial Real Estate Direct Staff Report The inability of a portfolio of Manhattan apartment properties to generate the cash flow needed to fully service its $363.1 million of total indebtedness has prompted Moody's Investors Service to downgrade five principal-paying classes ...
Park Place Mall in Ariz. Seen Transferring to CMBS Trust in Deed-In-Lieu
Commercial Real Estate Direct Staff Report The affiliate of Brookfield Asset Management that owns the Park Place Mall in Tucson, Ariz., likely will turn the property over in a deed-in-lieu of foreclosure or other similar arrangement to its lender, the ...
Partners Capital Launches Latest Fund as Previous Vehicle Gets Fully Invested
Partners Capital has started raising what could be $150 million of equity commitments for what would be its largest-ever opportunistic investment fund. Fund V is getting underway as its predecessor has been fully invested. It most recently bought a Houston ...
Hilton Minneapolis Gets Taken Through Foreclosure
Commercial Real Estate Direct Staff Report JPMorgan Chase Commercial Mortgage Securities Corp., 2018-MINN, which held a $180 million mortgage against the 821-room Hilton Minneapolis hotel, has taken the property through foreclosure. The foreclosure, highlighted in a TreppWire report, indicates that modification ...
CMBS Loan on Los Angeles’ Gas Co. Tower Matures, Transfers to Special Servicer
Commercial Real Estate Direct Staff Report The $350 million senior securitized loan against the Gas Co. Tower and nearby World Trade Center Garage, at 350 South Figueroa St., in Los Angeles, formally has transferred to special servicing. The move had ...
Maturing $300Mln Loan Against N.J. Shopping Center Transfers to Special Servicing
Commercial Real Estate Direct Staff Report The $300 million CMBS loan against the Bergen Town Center shopping mall in northern New Jersey has transferred to special servicer KeyBank because it's expected to default at its maturity next month. The loan ...
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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.
