South Florida Business Journal Konover South has lined up $26.7 million of construction financing for the Coconut Crossing retail center in Palm Beach Gardens, Fla. The Deerfield Beach, Fla., developer borrowed the loan from City National Bank of Florida. It’s [...]
Last year, 37 million square feet of office space was removed from the country's roughly 5.5 billion-sf inventory, according to an estimate by Capital Economics. A large chunk of that is being converted into apartments, with RentCafe estimating that 70,700 [...]
Commercial Real Estate Direct Staff Report Vornado Realty Trust is looking to either sell or redevelop Rego Park I, the 338,000-square-foot retail property at 61-35 Junction Blvd. in Queens, N.Y. The property is fully occupied by Burlington and Marshalls, but [...]
ConnectCRE A fund managed by BlackRock Realty Advisors has paid $103.1 million, or $345,973/unit, for the 298-unit Commons at Southfield apartment property at 200 Trotter Road in the Boston suburb of Weymouth, Mass. The fund bought the property from John [...]
Crain’s New York Business Beach Point Capital Management, which last year had purchased the $112 million loan against the 284-room Hotel Bossert in Brooklyn, N.Y., is foreclosing against the loan. The Santa Monica, Calif., company had paid $90 million, or 80 [...]
ConnectCRE HM Cragg has agreed to pre-lease 92,224 square feet of industrial space at Nexus at Opus Park, a 174,230-sf industrial project in Eden Prairie, Minn. Great Places Co. represented the tenant, a distributor of power products, while CBRE represented [...]
Puget Sound Business Journal. Community Roots Housing is offering for sale Heartwood, a 126-unit apartment property in Seattle. The local company has hired Kidder Mathews to market the property, which has an appraised value of $28.1 million, or $223,015/unit. Heartwood, [...]
Commercial Real Estate Direct Staff Report The appraised value of the 142,762 square feet of office space at 315 West 36th St. in Manhattan’s Garment District has been reduced to $26.4 million, marking the third time the space’s appraised value [...]
PCCP has provided $72.4 million of mortgage financing to fund the acquisition, by an affiliate of WPT Capital Advisors, of a pair of warehouse buildings with 1.11 million square feet at the Elizabeth Creek Gateway industrial complex in north Fort [...]
Commercial Real Estate Direct Staff Report Vornado Realty Trust is ready to build an office property at 401 Seventh Ave. in Manhattan, a site that previously had housed the 1,700-room Hotel Pennsylvania. The hotel, which the New York company had [...]
