News/Events
Wells Fargo Supplies $456M Refi for Family Dollar’s Distribution Center Portfolio
The owners of Family Dollar have secured $455.7 million to refinance existing loans on its 7.1 million-square-foot portfolio of leased distribution centers, Commercial Observer has learned. Wells Fargo provided the floating-rate loan to 1959 RE Holdings, the entity controlled and partially owned by private equity firms Brigade Capital Management and Macellum Capital Management. The refinancing…
JLL Rolls Out New Nontraded REIT Focused On Debt
JLL Property Finance Trust will buy first mortgages and subordinate debt and, to a lesser extent, CMBS loans and CLOs.
McDonald's Unveils $8.5B Plan To Accelerate Restaurant Improvements
With the McDonald's > NEXT strategy, the fast food titan plans to provide $8.5B in partnering support through 2036, including about $5B through 2030.
£400M Milton Park Stake On The Block In Top UK Science Park Sale
A 50% stake in Oxfordshire's Milton Park is for sale, a top UK science and innovation deal.
Fiserv Office Loan Moves To Special Servicing With Lease Expiration Looming
Fiserv's Alpharetta lease is slated to expire in August 2027.
Center City Office Building Faces 34% Valuation Cut Amid Foreclosure Process
The lender and borrower are clashing over foreclosure proceedings at Four Penn Center in Philadelphia.
Conduct AI Takes 7K SF at Capstone’s 140 Crosby Street for First U.S. Office
A London-based artificial intelligence firm developing enterprise software is establishing its first U.S. office presence in Manhattan’s SoHo neighborhood, Commercial Observer has learned. The rapidly growing Conduct AI has signed a 6,705-square-foot lease on the entire third floor of 140 Crosby Street, owned by Capstone Equities, Rugby Realty and Republic Investment Company, according to landlord…
Zara Doubles Footprint at a Macerich Shopping Center in Los Angeles County
Fashion firm Zara is more than doubling its footprint at a Southern California shopping center. The clothing retailer is expanding from 22,000 square feet to a 45,000-square-foot flagship opening next year at Macerich’s 1.3 million-square-foot Los Cerritos Center in southeast Los Angeles County. Zara’s existing store will remain open during construction. The property is at…
Fort Partners Buys Hotel Next to Its Four Seasons Property in Palm Beach
Fort Partners purchased an oceanfront hotel in Palm Beach., Fla., from real estate investor Jeff Greene, next door to the Four Seasons resort it owns. The Fort Lauderdale-based firm paid at least $112.6 million for the Tideline Palm Beach Ocean Resort at 2842 South Ocean Boulevard, property records show, though South Florida Business Journal pegs…
