News/Events
New York Life Provides $54M Refi for California Self-Storage Portfolio
Investec Real Estate Companies has secured $53.5 million to refinance a portfolio of three self-storage assets in Central and Southern California that span 253,496 rentable square feet and hold 1,818 units, according to a release. New York Life provided the debt, structured as a five-year, full-term, interest-only loan, while Talonvest Capital’s Andrew Marshall, Kim Bishop,…
Electrical Contractor L.K. Comstock Signs 14K-SF Lease at Dumbo Heights Campus
This Dumbo, Brooklyn, office property is about to light up with a new tenant. L.K. Comstock, a specialty electrical contractor focused on transit rail systems, has signed a 13,566-square-foot lease at 55 Prospect Street in the office and mixed-use campus known as Dumbo Heights, Commercial Observer has learned. The length of the lease and the…
Nuveen Green Capital Supplies $93M C-PACE Loan for Cleveland Office Conversion to W Hotel
The increased utilization of Commercial Property Assessed Clean Energy (C-PACE) debt for conversion projects has reached new heights with Cleveland’s fifth-tallest building. ErieView Development has secured a $93.4 million C-PACE loan from Nuveen Green Capital (NGC) to transform the former Erieview Tower building in Downtown Cleveland into Ohio’s first W Hotel, according to the lender.…
Cantor Fitzgerald Provides $141M CMBS Loan for Raleigh Office Complex
A joint venture among East West Partners, CBC Real Estate and Affinius Capital has secured $141 million to refinance a 535,000-square foot office campus in Raleigh, N.C., that serves as the global headquarters of Bandwidth, a publicly traded technology firm. Cantor Fitzgerald provided the debt, structured as a single-asset, single-buyer commercial mortgage-backed securities origination, while…
Investment Firm 26 North Relocates to 84K SF at LeFrak’s 40 West 57th Street
Alternative investment management firm 26 North is relocating its New York City offices to LeFrak’s Midtown office tower at 40 West 57th Street, Commercial Observer has learned. The company has inked an 84,000-square-foot lease at the 36-story property, where it will occupy four full floors following its move from 600 Madison Avenue, according to landlord…
Lawsuit Over Pandemic-Era Eviction Ban Expands To 2,600 Landlords As Feds Eye Settlement
Landlords join lawsuit over eviction ban losses, with a $1B settlement possible. An appeals court favors the plaintiffs.
The Number Of Large-Scale Data Centers In U.S. Projected To Triple By 2030
The AI infrastructure boom is leading tech companies to spend a projected $7T on data centers in the coming years.
Thor Equities Reacquires Retail Portion Of Palmer House After Losing It To Foreclosure In 2023
The company reacquired the 68K SF retail portion of the property at 17 E. Monroe St. in the Loop for $5.1M.
Lululemon Cuts U.S. Expansion Plans, New CEO Takes Helm At Athleisure Staple
Lululemon reduces its store opening plans as new CEO Heidi O’Neill takes charge amid a sales slump.
