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News
Rexford to Sell $2B in Assets After Posting $507M Loss in Q2
1+ day, 23+ hour ago (728+ words) Rexford Industrial Realty is dramatically accelerating its shift from being the most aggressive industrial buyer in Southern California into perhaps the region’s biggest seller. The Los Angeles-based real estate investment trust (REIT) has identified about $2 billion of “noncore assets” for…...
West Palm Beach Multifamily Asset Converted From Condos Fetches $91M
1+ day, 20+ hour ago (277+ words) The seesaw history of a West Palm Beach residential complex has a new chapter. A joint venture between the Kamson Corporation and Joel Gluck’s Scopus Property Management has closed on a $90 million acquisition of Ponte Verde at Palm Beach Lakes,…...
Waste Management Buys 146-Acre Miami-Dade Development Site for $380M – Commercial Observer
1+ day, 22+ hour ago (196+ words) Waste Management has paid nearly $380 million for about 146 acres in Medley, Fla., where the Houston-based company will likely build another landfill, property records show. The land sits parallel to Route 27 at 9515 Northwest 95th Avenue near the Everglades national park. About half…...
Carlyle Group, Haussmann File Plans for 99 Units at 566 Grand Avenue
1+ day, 22+ hour ago (304+ words) Carlyle Group and Haussmann Development have plans to partner on a 99-unit apartment complex in Brooklyn’s Crown Heights neighborhood. The two developers filed plans Thursday with the New York City Department of Buildings (DOB) to bring a new 12-story mixed-use…...
Lightstone Capital Refis San Diego Apartments With $34M Loan
1+ day, 23+ hour ago (239+ words) Developer Jeff Svitak has landed $34.25 million of bridge debt for a newly completed San Diego multifamily project, Commercial Observer has learned. Lightstone Capital originated the senior loan for Svitak’s Kaya Apartments development in San Diego’s Bankers Hill neighborhood. John Zubak,…...
Protective Live, Berkadia Make $50M Refi for Senior Living Facilities
2+ day, 2+ hour ago (259+ words) Senior Living Transformation Company (SLTC) and Sabal Investment Holdings have secured $50 million to acquire and improve two senior living communities that specialize in assisted living and memory care: Daylesford Crossing in Paoli, Pa., and the Villages of Windcrest in Fredericksburg,…...
Tishman Speyer, Bellco Capital Provide $90M Life Sciences Campus Refi
2+ day, 3+ hour ago (362+ words) The life sciences boom isn’t finished yet. Gemdale USA has secured $90 million in mezzanine debt to refinance Aperture Del Mar, a 538,000-square-foot Class A life science campus that recently opened in San Diego, Calif. Tishman Speyer and bellco capital, through…...
Nomura Prices Largest Single-Bank SASB CMBS in Two Years
2+ day, 17+ hour ago (453+ words) As it approaches its first birthday, Nomura Securities’ commercial real estate lending platform has an extra reason to celebrate: It just sealed the largest sole-bank single-asset, single-borrower commercial mortgage-backed securities (SASB CMBS) deal in almost two years. The $719 million KELR…...
No, the Pfizer Near-Disaster Won’t Slow New York’s Conversion Wave
2+ day, 19+ hour ago (1260+ words) New York City is relying, in part, on more than 16,000 units planned via office-to-residential conversions to ease its enduring housing crisis. So, when the country’s largest conversion, sitting in the heart of Midtown, starts to buckle, it’s not taken lightly....
Durst Secures Three Leases at 1133 Avenue of the Americas
3+ day, 58+ min ago (379+ words) The Durst Organization has announced three leases totaling 11,223 square feet for prebuilt office suites at the company’s 1133 Avenue of the Americas, Commercial Observer has learned. In the largest of these, software company Quantexa signed a new lease for 5,263 square feet…...