Big Manhattan Apartment Loan Transfers to Special Servicing

The $539.5 million of CMBS financing against The Yorkshire & Lexington Towers apartment buildings in Manhattan's Upper East Side has transferred to special servicing. The loan was underwritten two years ago with the assumption that cash flow would have increased [...]

By |2024-12-18T23:42:27+00:00December 18, 2024|Blogs|0 Comments

ACORE Lends $85.23Mln for Construction of Modular Apartments in San Diego

Commercial Real Estate Direct Staff Report ACORE Capital has provided $85.23 million of financing for the construction of the 483-unit Mission Gorge modular apartment property in San Deigo. JLL Capital Markets secured the three-year loan. The brokerage also arranged $27 [...]

By |2024-12-18T23:42:26+00:00December 18, 2024|Blogs|0 Comments

Seven Hills Lends $45Mln to Fund Purchase of Boston’s Club Quarters Hotel

Commercial Real Estate Direct Staff Report Boston’s Club Quarters Hotel, with 178 rooms at 161 Devonshire St., has been sold for $75 million, with Seven Hills Realty Trust providing $45 million of financing to fund the purchase. The property was [...]

By |2024-12-18T23:42:26+00:00December 18, 2024|Blogs|0 Comments

Manufactured-Housing Property in Federal Heights, Colo., Sells for $62Mln

Commercial Real Estate Direct Staff Report Rudy I Holdings LLC has paid $62 million, or $162,303/unit, for Denver Cascade, a manufactured-housing community with 382 spaces in Federal Heights, Colo. The investor group purchased the property in a deal arranged by [...]

By |2024-12-18T23:42:26+00:00December 18, 2024|Blogs|0 Comments

Miami’s Gates Hotel South Beach Fetches $52.5Mln

South Florida Business Journal Elliott Investment Management has paid $52.5 million, or $228,261/room, for the 230-room Gates Hotel South Beach in Miami. The West Palm Beach, Fla., company purchased the property from Rockpoint Group of Boston. Deutsche Bank has provided [...]

By |2024-12-18T20:42:15+00:00December 18, 2024|Blogs|0 Comments

Bowery Properties Buys Lauderhill, Fla., Apartments for $44.1Mln

South Florida Business Journal An affiliate of Bowery Property Holdings has bought the Windward Vista Apartments, a 352-unit complex in Lauderhill, Fla., for $44.1 million, or $125,284/unit. The Miami company purchased the property from FCP Partners of Chevy Chase, Md., [...]

By |2024-12-18T20:42:14+00:00December 18, 2024|Blogs|0 Comments

Wilmorite Negotiates Term Extension of $210Mln Loan on Mall Near Rochester, N.Y.

Commercial Real Estate Direct Staff Report Wilmorite Management Group has negotiated another term extension for the $210 million mortgage against its Eastview Mall and Commons shopping mall and power center in the Rochester, N.Y., suburb of Victor, N.Y. The loan [...]

By |2024-12-18T20:42:13+00:00December 18, 2024|Blogs|0 Comments

Publix Pays $40Mln North Miami Shopping Center

South Florida Business Journal Publix Super Markets Inc. has bought the 90,188-square-foot shopping center that it anchors in North Miami for $40 million, or $443.52/sf. The Lakeland, Fla., supermarket chain purchased the retail property from a venture of the Gordon [...]

By |2024-12-18T20:42:12+00:00December 18, 2024|Blogs|0 Comments

$227Mln Loan on Washington, D.C., Office Gets Lengthy Term Extension

Commercial Observer Rockrose Development has negotiated a four-year term extension for the $227 million of financing against Lincoln Square, a 414,204-square-foot office building at 555 11th St. NW in Washington, D.C. The financing includes a $90 million CMBS loan that’s [...]

By |2024-12-18T20:42:12+00:00December 18, 2024|Blogs|0 Comments

Law Firm to Relocate Atlanta Offices, Taking Less Space

Atlanta Business Chronicle Eversheds Sutherland officially signed a lease for 94,000 square feet at the 55-story Bank of America Plaza office building in Atlanta. The deal was first reported in November. At the time, the exact amount of space was not [...]

By |2024-12-18T20:42:11+00:00December 18, 2024|Blogs|0 Comments
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