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Blog
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 […]
Eagle Real Estate JV To Spend up to $1.5B on West Coast Multifamily Assets
Eagle Real Estate Partners, LLC has formed a joint venture with private equity firm TriPost Capital Partners, LLC, which will focus on the housing sector. Particularly, TriPost will contribute more than $50 million in GP co-investment capital, which backs Eagle to purchase as much as $1.5 billion in West Coast multifamily assets and California, along […]
HudsonPoint and Sovereign Partners Pay Around $375M for Midtown Office With Retail
HudsonPoint Capital and Sovereign Partners have joined forces to acquire 575 Fifth Avenue in Midtown, Manhattan. The reporting comes from the Commercial Observer, which could peg the exact price point, but cited sources that said the deal is believed to be worth close to $385 million. That’s around the same price that MetLife paid to take […]
$880M West Little River Mixed-Use Project in Miami Moves Closer To Ground Breaking
Ground-breaking for The HueHub, a planned mixed-use community in Miami, has moved one step closer. The demolition at the site in the West Little River neighborhood is now underway, which will pave the way for the $880 million project to begin. A big part of the plans calls for delivering “attainable housing,” especially for local […]
Amstar Pays $129M for Multifamily Property in Growing Manhattan West Labor Market
Amstar Group senses potential in West Manhattan and has decided to pull the trigger and buy a luxury multifamily property for $129 million. The 225-unit property, Henry Hall, is located in Hudson Yards. Shorenstein Investment Advisers and Dreamscape Companies, through a joint venture, sold the asset, with JLL arranging the transaction. Henry Hall was designed […]