Commercial Observer New York investor Cindy Chan has paid $25 million, or $2,506/sf, for the 9,975 square feet of retail space at the base of the Briarcliffe residential condominium building at 171 West 57th St. in midtown Manhattan. Chan purchased [...]
Idaho Central Credit Union has provided $29.5 million of mortgage financing against the 139-room Maxwell Hotel in Seattle. JLL Hotels & Hospitality arranged the 10-year loan. The five-story property is owned by Staypineapple of Bellevue, Wash. It was built [...]
PGIM Real Estate has provided $345 million of financing against a portfolio of five apartment properties with 1,501 units owned by Mill Creek Residential Trust. The fixed-rate loan, funded through the investment manager’s core strategy, allowed Mill Creek, a Boca [...]
Commercial Observer Tyko Capital has provided $158 million of financing for the construction of an 83-unit residential condominium property at 401 East 51st St. in Manhattan’s Turtle Bay section. The property is being developed by SK Development and CB Developers. [...]
AEW Capital Management has provided $75 million of financing against the 300-unit Hadley apartment building in Atlanta’s Midtown area. The loan takes out a $72 million construction loan that PNC Bank had provided for the property in 2020 and provides funding [...]
Convenient Holdings has paid $46.3 million, or $370,400/unit, for the 125-unit Rancho Vista Apartments in Ontario, Calif. The Santa Monica, Calif., investor purchased the property from Clear Capital of Los Angeles, which had acquired it in 2016 for $26.75 million. [...]
The Real Deal Wells Fargo Bank has filed to foreclose against the $60 million mortgage on the 241 Atlantic Ave. mixed-use property in the Boerum Hill section of Brooklyn, N.Y. The loan had matured at the start of the year. [...]
Philadelphia Business Journal Fundamental Income has paid $41 million, or $170.12/sf, for the 241,000-square-foot cold-storage warehouse at 2701 Red Lion Road in Northeast Philadelphia. The Phoenix investment manager bought the property from Quaker Valley Foods of Philadelphia, which is leasing [...]
Commercial Real Estate Direct Staff Report The Oaktree Capital Management fund that owns the 617,476-square-foot Duane Morris Plaza office building in downtown, or Center City Philadelphia, didn’t make the February debt-service payment on the property’s $105.3 million loan. The loan, [...]
BisNow Special servicer Rialto Capital Advisors has filed to foreclose against the $104.5 million CMBS loan against the 139,921-square-foot office building at 90 Fifth Ave. in midtown Manhattan. The loan is securitized through three CMBS deals: a $37 million piece [...]
