News/Events
Starwood Lands $483M CMBS Loan to Refi Single-Family Rental Portfolio
Barry Sternlicht’s Starwood Asset Management secured a $482.5 million commercial mortgage-backed securities (CMBS) loan to refinance a nearly full single-family rental portfolio located across 10 states. The floating-rate, interest-only financing — which Japan’s Nomura Securities originated — backs 1,749 properties, according to Fitch Ratings. The debt, which is scheduled to mature in August 2028, has…
Extell Finalizes Deal to Buy 110 East 55th Street for $65M
After months of negotiations, Extell Development has acquired 110 East 55th Street, a 19-story Midtown office property also known as Park 55, from the Parkoff Organization for $65 million, property records made public Monday show. An affiliate of construction company JT Magen — which had previously partnered with Extell on a foreclosure in Boston —…
Terreno Realty Acquires Red Hook Warehouse for $26M
Terreno Realty has acquired a warehouse along the Red Hook, Brooklyn, waterfront. Terreno announced Monday the purchase of the 28,000-square-foot industrial property at 659 Court Street for $26.3 million from California-based LBA Properties, which made a pretty penny since buying it less thana year and a half ago for $7 million, according to property records.…
Goldman Sachs To Buy Sale-Leaseback Specialist LCN For Up To $410M
The investment banking giant is acquiring the net lease and build-to-suit platform in a deal that includes $150M in payout incentives.
Rexford To Sell $1.2B Industrial Portfolio As Part Of Plan To Increase Dispositions
Rexford plans to sell a $1.2B portfolio, aiding debt reduction and share buybacks by investing in development.
EXCLUSIVE: Opal Holdings' Former 700K SF Suburban Chicago Office Campus Hits The Market
A 697K SF office campus in Deerfield is up for sale. Bid deadline is Sept. 10.
CGI Merchant Had A-Rod's Backing And A $650M Fund. Then It Bought Trump's D.C. Hotel And It All Fell Apart
How CGI, which raised a $650M fund from A-Rod and Adi Chugh, crumbled after acquiring Donald Trump's D.C. hotel.
Oceanwide Buyers Want Tax Incentives For 184-Room Hotel
The Oceanwide Plaza buyers are hoping for city tax incentives as they build out the stalled hotel, residential and retail project.
Builders Turning To Prefab Solutions As Speed To Delivery Becomes Critical Consideration
Prefab's speed outpaces costs as builders turn to modular units for rapid delivery in data centers and housing.
