News/Events
Nuveen Green Capital Closes $281M C-PACE Loan for Boston Condos
The steady climb of commercial property assessed clean energy (C-PACE) financing around the U.S. has made its way to one of Boston’s tallest buildings. Millennium Partners has secured a $281 million C-PACE loan to implement energy efficiency upgrades at the 62-story Winthrop Center in Downtown Boston, the developer announced Friday afternoon. Nuveen Green Capital originated…
Nalcorp, Clipper Equity Buy Coney Island Oceanfront Development Site for $20M
Fancy a trip to the Boardwalk? A pair of New York-based real estate development and investment firms — Nalcorp and Clipper Equity — have acquired a land parcel at 2015 Boardwalk West, an oceanfront development in Coney Island, Brooklyn, from seller Bath Site LLC for $20 million, broker TerraCRG announced Friday. The parking lot property,…
Survey: 61% of Investors Hold Negative Multifamily Outlook in 2026, Per Berkadia
Housing isn’t making anyone happy these days. In a survey of more than 100 principals and executives across private real estate investment firms, Berkadia found that 61 percent of respondents characterized their outlook for the multifamily market in the second half of 2026 as negative due to capital markets volatility, Commercial Observer can first report. …
St. Regis Bal Harbour Resort Secures $263M Refi After Special Servicing
Fortress Investment Group has rescued Al Rayyan Tourism Investment Company (ARTIC)’s St. Regis Bal Harbour Resort out of special servicing, supplying a $263 million loan to refinance the oceanfront property. The New York-based lender assumed $188 million in existing debt and added $70 million in new debt backing the 213-room property in Bal Harbour, Fla.,…
First Pioneer Properties Buys Queens Retail Center for $24M
New York-based real estate management and development firm First Pioneer Properties, along with ABS Partners Real Estate, has acquired a Queens retail center from Levy Properties for $23.5 million, property records made public Thursday show. The one-story property at 213-04 Northern Boulevard in Bayside is currently home to an urgent care medical office and Bebeang…
Pinnacle Group Offloads $128M Condominium and Commercial Portfolio in NYC
Pinnacle Group has offloaded a $128 million residential and retail condominium portfolio in New York City, less than a year after selling off its rent-stabilized assets. The massive trade, filed in city records this week, spanned 39 transactions across Queens, Brooklyn and Manhattan. It included nearly 750 residential units, as well as dozens of retail…
PACE Loan Group Adds CRE Finance Vet Kenneth Sacco as CFO
PACE Loan Group (PLG) has hired a commercial real estate veteran and finance leader to shepherd its capital markets momentum in the growing commercial property assessed clean energy (C-PACE) market. The Minneapolis-based lender named Kenneth Sacco, who has advised on more than $10 billion worth of transactions and executed over $30 billion in debt financings…
Skanska JV Lands $2.43B Contract for Light Rail Project in L.A.
Skanska and Stacy Witbeck have secured another contract to build one of Los Angeles County’s largest public transit projects. The joint venture was awarded an additional contract by the Los Angeles County Metropolitan Transportation Authority for the East San Fernando Valley Light Rail Transit Project, bringing the total value of the JV’s work to $2.43…
S3 Capital Lends $35M for Miami-Dade County Apartments
Miami developer Aconcagua Group has landed $35 million of construction financing to complete a multifamily project in Miami-Dade County, Commercial Observer has learned. S3 Capital provided the loan for the third and final phase of the 374-unit Casa Princeton apartment community in Princeton, Fla. The deal closed Friday morning. The phase three portion of the…
