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Blog
NYC’s $126B Budget Makes Key Housing Investments
New York City Mayor Zohran Mamdani and City Council Speaker Julie Menin have reached a deal on a $125.8 billion budget for fiscal year 2027. The big focus under the budget remains improving housing opportunities and affordability. Notably, it invests $175 million during fiscal year 2027, with a baseline of another $125 million in fiscal […]
Kennedy Wilson Venture To Deliver 4,000 Affordable Housing Units to LA
Kennedy Wilson and Jamison are taking on a big Los Angeles affordable housing plan under a new partnership. The two are aiming to deliver 4,000 units across the city through ground-up development and adaptive reuse projects. Through the new partnership, Jamison will leverage its recently debuted affordable housing division, Arden Residential and Kennedy Wilson will […]
Digital Realty Snags $3.5B Stake in Virginia Data Centers From Blackstone
Digital Realty has agreed to purchase Blackstone’s 64 percent interest in a Northern Virginia data center portfolio for $3.5 billion. This values the three facilities in the deal at a combined gross $7.8 billion, with an initial stabilized capitalization rate that exceeds 6.5 percent. Digital Realty is using $2.3 billion in stock and $1.2 billion […]
New Industrial Platform With $350M in Commitments Launches, Targeting Small Bay
A new industrial platform, Speed Bay Warehouse Solutions, has launched, with $350 million in commitments already secured. Black Creek Group founders and platform executives Evan Zucker and Jimmy Mulvihill have poured in $100 million, with $250 million coming from investment service BDT & MSD Partners. The new platform is planning on focusing solely on multi-tenant, […]
Madison Capital Snags $223M in Bridge Financing for Flexibility in Sun Belt Portfolio
Madison Capital Group has secured a financing package exceeding $223 million for a multifamily portfolio that’s located in the Sun Belt. Through multiple debt fund lenders, Walker & Dunlop arranged the bridge loans with floating rates to support the deal. The transaction covers five communities and a total of 1,345 units, which all closed in […]
Ulta Beauty in $400M Lease To Take Over American Eagle’s Space in Times Square
Ulta Beauty has signed a $400 million lease to take over the space that’s currently occupied by American Eagle at 1551 Broadway in Times Square. America’s largest beauty retailer will take all four floors in the building, which spans 26,000 square feet, as reported by The Real Deal. The term of the deal, which also includes […]
Rithm Capital Plans $250M in Office Improvements Across New York and San Francisco
Rithm Capital is making a big bet in the office sector in two major coastal cities. The asset manager, along with joint venture partners, is planning to pour about $250 million into capital improvements across an office portfolio that’s managed by its subsidiary, Elecor Properties. The entity was formerly known as Paramount Group, which just […]
Vornado Acquires 49% Stake in $1.1B Park Avenue Plaza Office
Vornado Realty Trust has acquired a 49 percent stake in Park Avenue Plaza, a trophy Class A office building that holds a gross asset valuation of $1.1 billion. The equity was purchased from Closer Properties, while Fisher Brothers will continue to remain the majority 51 percent owner in the property located at 55 East 52nd […]
$72M Refi At Park Avenue Office to Support Repositioning
Joint venture owners of 430 Park Avenue have secured a $72 million loan to refinance the leasehold interest in the building and use the funds to reposition the asset. The JV, which has owned the building since the 1954 construction, consists of Midwood Investment & Development Inc., Marx Realty and Oestreicher Properties. Axonic Capital LLC […]
MDH Partners Lands $196M Everest Loan for 1.6M SF Warehouse Portfolio Acquisition
MDH Partners has secured an Everest Loan, totaling $195.9 million. The move backs its recent buy of a warehouse portfolio that spans 1.6 million square feet. Capital One provided the financing, with its Senior Vice President and Southeastern Market Manager, Mary Lucy Lester, originating it. Matthew Ludwig, head of debt capital markets, represented MDH. The […]