Multi-Housing News FPA Multifamily has bought Elevate at Towngate, a 227-unit apartment complex in Moreno Valley, Calif., for $41 million, or $180,617/unit. The San Francisco company purchased the property from Brixton Capital of Solana Beach, Calif., which had bought it [...]
Commercial Real Estate Direct Staff Report A total of $26.5 billion of commercial properties changed hands in January, down 14% from a year ago, according to Colliers. The drop in volume was driven by the retail sector, which saw only [...]
Triad Business Journal StoneRiver Co. has paid $66.9 million, or $232,292/unit, for the 198 Milltown Apartments in Burlington, N.C. The Birmingham, Ala., company purchased the 288-unit property from Zimmerman Development Co. of Wilmington, N.C., in a deal brokered by Berkadia. [...]
Crain’s New York Business A court-appointed receiver has been installed at the 538-unit Parkhill City apartment complex in the Jamaica section of Queens, N.Y. The two-building property is encumbered by a $225 million mortgage that’s been in default since February [...]
TMT Properties has paid $31.5 million, or just more than $195/sf, for the 161,437-square-foot Celebration Office Center in the Orlando, Fla., suburb of Celebration, Fla. The Coral Springs, Fla., investor, which owns retail, office, industrial and parking properties, purchased the [...]
Shorenstein has been unable to strike a deal to modify terms of the $222.9 million mortgage against the 999,828-square-foot office building at 1818 Market St. in downtown, or Center City, Philadelphia. The loan's special servicer will now seek to get [...]
Barings has provided $70.2 million of financing against the 606,343-square-foot Tracy 205 Logistics Center in the Northern California city of Tracy. The five-year loan was arranged by CBRE. The cross-dock facility, on a 29-acre parcel at 1269 East Grant Line [...]
Commercial Real Estate Direct Staff Report The 821-room Hilton Minneapolis hotel, which in 2023 was taken through foreclosure by the CMBS trust that had held a $180 million loan against it, has continued to underperform expectations. That’s prompted Moody’s Ratings [...]
Blackstone Mortgage Trust has provided $278.87 million of mortgage financing against the 788,927 square feet of office space at the Woolworth Building in lower Manhattan. The financing, comprised of a $243.09 million senior note and $35.78 million of junior notes, [...]
BisNow Grant Street Funding has provided $34.3 million of mortgage financing against the 80,780-square-foot office property at 60-66 Long Wharf Drive in Boston. The two-building complex is owned by Capital Properties of Boston, which had purchased it in 2015 for [...]
