News/Events
PPM America Provides $236M Acquisition Debt for 20-Property Industrial Deal
A joint venture between SparrowHawk and Almanac Realty Investors has secured $236 million in acquisition debt to buy a 4.4 million-square-foot, 20-property U.S. industrial portfolio, according to a release. Fidelity Investments reported earlier that the joint venture purchased the portfolio from EQT for just under $400 million. PPM America provided the $236 million debt, structured…
Nationwide Life Insurance Company Provides $51M Refi for D.C.-Area Retail Center
Zuckerman Gravely has secured $50.75 million to refinance Potomac Place Shopping Center, an 80,000-square-foot, Class-A grocery anchored retail center in Potomac, Md., a suburb just outside of Washington, D.C., Commercial Observer can first report. Nationwide Life Insurance Company provided the debt, structured as permanent fixed-rate financing with a seven-year term. Northmarq’s Jason Smith and Kenneth…
Podcast: How Landlords Can Solve the Tenant Visibility Problem – Sytes’ Rafael Weiss
Rafael Weiss is the co-founder of Sytes, a marketplace platform that connects commercial real estate landlords, developers, and brokers with tenants actively looking for space in real time. Rafael came to the problem as a developer who lost a deal because tenant demand was invisible until it was too late, and built Sytes to fix the…
Barry Sternlicht’s Starwood Scoops Up More Miami-Dade Affordable Housing
Barry Sternlicht’s Starwood Asset Management has bought two more affordable housing properties in Miami-Dade County, following two acquisitions last week, bringing the total to $115.4 million and 570 units. The investment firm purchased the remaining piece of the Lafayette housing complex in Miami’s Little River neighborhood for $27 million, property records show. Called Lafayette Plaza,…
Javits Center Expansion, Tech Upgrades Boosting NYC Hospitality Industry
Five years after the Javits Center underwent a $1.5 billion expansion, the Hudson Yards convention venue is continuing to expand its bandwidth to boost its events business and the adjacent New York City hospitality industry. The 3.3 million-square-foot facility recently underwent a $5 million technology upgrade enabling the Javits Center to become the first convention…
Westphal Company Lands $56M Refi for San Diego Apartments
The Westphal Company has secured $56.1 million in permanent financing for a 354-unit apartment complex in eastern San Diego County. Northmarq arranged the fixed-rate financing through the firm’s Fannie Mae platform. The nonrecourse loan carries a 10-year term with interest-only payments for the full term. Property records identify Westphal Company owns the Wintercrest Village Apartments,…
Fortress Refinances Dania Design Center With $45M After Foreclosure Fight
Fortress Investment Group has refinanced the Design Center of the Americas in Dania Beach, Fla., following a nasty foreclosure fight with its previous owner, New York-based billionaire Charles Cohen. City National Bank of Florida supplied a $45 million loan backing the 780,000-square-foot office and design showroom complex at 1855 Griffin Road, facing the I-95. In…
Keystone Equities Provides $61M Acquisition Debt for IOS Repositioning Site in Newark
KS Group has secured $60.5 million in acquisition debt to buy a 51-acre industrial site in Newark, N.J., that will be repositioned as an industrial outdoor storage property, Commercial Observer can first report. Keystone Equities provided the debt, structured as a senior bridge loan, marking $660 million in capital the firm has deployed since August…
Contractors Feel Squeeze As Prices Rise 7.4%, Backlog Shrinks
Contractors face profit margin pressure amid inflation and tariff challenges.
