The Real Deal The venture that owns the 1.1 million-square-foot 5 Times Square office building in midtown Manhattan is planning to convert it into 1,250 apartment units. The venture – comprised of Apollo Global Management, RXR Realty, and SL Green [...]
Commercial Observer Exelon Corp. has paid $175 million, or $480.77/sf, for the 364,000-square-foot Edison Place office property at 701 9th St. NW in Washington, D.C. The Chicago utility acquired the property from Brookfield Properties, which had purchased it in 2004 [...]
The Boston office market, like others around the country, is fast becoming bifurcated, with properties classified as trophy performing on a different level than lesser buildings. The post Boston’s Class-B Office Availability Bests Class-A, Trophy appeared first on Commercial Real [...]
REBusiness Online YunExpress has leased the 146,000-square-foot industrial property at 400 Salt Meadow Road in Carteret, N.J. The building is one of three at the 1.2 million-sf Crow Holdings at Carteret industrial complex, owned by Crow Holdings of Dallas. The [...]
Commercial Real Estate Direct Staff Report Blackstone has successfully negotiated a three-year term extension of the $1.33 billion CMBS loan against the 3.79 million-square-foot Willis Tower in Chicago. The giant investment bank had been thought to be close to completing a [...]
Commercial Observer The two adjoining office buildings at 10 and 12 East 33rd St. in Manhattan have changed hands for $27.5 million, or $393.25/sf. They were purchased by an investor group, Han 533 LLC, which has an Old Tappan, N.J., [...]
Xenia Hotels & Resorts has sold the 545-room Fairmont Dallas hotel in in the city’s downtown Arts District, for $111 million, or $203,670/room. The buyer could not be immediately learned. The Orlando, Fla., hotel REIT’s predecessor, Inland American Real Estate [...]
Commercial Real Estate Direct Staff Report An affiliate of Sterling Investors has paid $108.4 million, or $321,661/unit, for Timbers at Issaquah Ridge, a 337-unit apartment property in Issaquah, Wash. The New York investment manager, formed five years ago by Khaled [...]
South Florida Business Journal Bowery Propco has paid $60.25 million, or $242,944/unit, for the Stratford Apartments, a 248-unit complex in Miami. The two-story property, at 9051 SW 122nd Ave., was built in 1992 and last sold a year later for [...]
AZ Big Media A limited liability company led by Mohsin Ilyas and Ahmad Abdelaziz has paid $107.5 million, or $532,178/unit, for Soltra Kierland, a 202-unit apartment property in Scottsdale, Ariz. The Puerto Rico-based LLC acquired it from Leon Capital of [...]
