News/Events
Iconic Jersey Shore Property Hits The Market For $85M As Redevelopment Play
The Atlantic City landmark is on sale for $85M, offering new redevelopment opportunities in hospitality and entertainment.
FedEx's Consolidation Plan Puts $3B Of CMBS Debt In Crosshairs
FedEx's consolidation could trouble industrial landlords with leases expiring before mortgages mature.
FBI Opens Investigation Into Multifamily Investor Lurin Capital
The FBI is probing Lurin Capital after lawsuits claim fraud across its Sun Belt multifamily portfolio. The FBI is seeking more information from victims.
DWS Plans Liquidation Of Nontraded REIT After Heightened Redemption Activity
RREEF Property Trust met all of its July redemption requests but fulfilled only two-thirds of its June requests.
Asian-American Deli Café Hestia Signs 8K-SF Lease at 570 Lexington Avenue
A cafe serving Asian and American cuisine is opening a fourth Manhattan location, Commercial Observer has learned. Café Hestia, a group of family-run delis, has signed a 20-year, 8,000-square-foot lease at the base of the Feil Organization’s 570 Lexington Avenue, which it will likely also use as a catering facility, according to tenant broker Kassin…
Edgewood Capital Provides $27M Refi for Fort Lauderdale Condo Project
Latitude Group has landed a $27.9 million loan to refinance a newly completed condominium project in Fort Lauderdale, Fla., Commercial Observer has learned. Edgewood Capital supplied the loan for the Terraces condo tower set to debut this fall, sources familiar with the deal told CO. Latitude Group previously secured a $24.5 million construction loan from…
Decron Properties Buys 163-Unit Property in L.A.’s Miracle Mile for $114M
Decron Properties has acquired a 163-unit property in Los Angeles’ Miracle Mile for $114 million as the firm’s first L.A. deal in nearly two years. The Los Angeles-based investment firm acquired the asset at 5550 Wilshire Boulevard, a residential and retail property developed in 2010, at what Decron described as a substantial discount to replacement…
Corebridge Financial Refis Meatpacking Office Property With $293M Loan
A joint venture between Aurora Capital Associates and William Gottlieb Real Estate has sealed a $293 million loan to refinance a mixed-use asset in Manhattan’s Meatpacking District, according to a release. Corebridge Financial provided the fixed-rate, permanent loan on the 158,957-square-foot building at 40 10th Avenue. The 2019-built property features 112,241 square feet of office…
Stroller Brand Uppababy Relocates Store to 156 Montague Street in Brooklyn Heights
Known for its distinctive strollers, baby gear brand Uppababy is relocating its store within Brooklyn, Commercial Observer has learned. The high-end baby accessories brand is opening a 3,780-square-foot brick-and-mortar location at Owen Realty’s 156 Montague Street in Brooklyn Heights, according to broker JLL. Uppababy will move next year from 90 Smith Street in Cobble Hill,…
