RXR secured $1.45 billion in financing for its 45-story Midtown Manhattan tower, 1211 Avenue of the Americas, extending $1.035 billion in debt from Apollo Global Management to 2028. The recapitalization includes $250–$400 million in equity from investors including Baupost Group, King Street Capital and Liberty Mutual. Roughly $367 million will fund tenant improvements, capital upgrades and leasing costs, including renovations for Fox News and space vacated by Ropes & Gray.
Vanbarton Group plans to convert the office tower, bought from an undisclosed seller, into a residential tower immediately.The buyer said the repurposed 400,000-square-foot tower would include 111 affordable units. Aside from ground-floor retail operations, the property was vacant when purchased.
Fairfield Residential acquired Park Central Apartments, a 286-unit luxury apartment complex in Raleigh. KBS developed the property in 2015 in a JV with Kane Realty. Located at 200 Park at North Hills St., Park Central Apartments features a sky deck with a pool, a clubhouse with a sauna, a dog spa, a fitness center, a conference center and a parking garage.
A JV between GoodHomes Communities and Pilot Real Estate Group will use the loan to support hotel-to-multifamily conversion projects, including properties in Fayetteville, North Carolina; Warwick, Rhode Island and Groton, Connecticut. The financing will refinance existing debt and help complete lease-ups across the 886-unit portfolio. Most of the properties, except Groton, benefit from local tax abatement programs that cap rents based on area median incomes.
Bar Invest Group sold the 300-unit development called Visions at Willow Pond. The 347,790-square-foot complex includes 17 buildings on 14 acres at 4860 Sand Stone Lane. Rents for one- and two-bedroom units range between $1,645 and $3,616 a month
The firm sold off Woodford Square, an 85,323-square-foot shopping center located in Chesapeake, Virginia. Harbor Freights anchors the center, which was fully leased at the time of sale to tenants. The buyer was United Properties.
A JV between PGIM Real Estate, Norges Bank Investment Management and SJP Properties will use the loan to refinance 11 Times Square in Manhattan. The property is a 40-story, 1.1 million-square-foot, LEED Gold-certified office tower. The 2011-completed building is 87.2% occupied and the bottom two floors hold retail space.
The loan is for the refinancing of VOX I and VOX II, a two-building, 262-unit student housing development located in Miami. Situated at 7025 and 7175 SW 59th Ave., VOX I and VOX II collectively feature 726 beds spread over a mix of one-bedroom, one-bath to four-bedroom, four-bath apartments. Units include washer-dryers, air conditioning, dishwashers, hardwood floors, walk-in closets, island kitchens and microwaves.
The company offloaded the site at 970 Franklin Ave. The site is approved for the development of up to roughly 290,000 buildable square feet of product across 355 apartments, all within a 10-story building. The buyer was a private investor.
The loan is for the acquisition of Mason Stuart, a 270-unit multifamily community located in Stuart, Florida. The seller was Waypoint Residential. Located outside Port St. Lucie and encompassing seven buildings, Mason Stuart opened in 2024 and includes a mix of one-, two- and three- bedroom units. The community is 91.5% occupied.
The loan is for 365 W. Passaic St. in Rochelle Park. The 218,000-square-foot property includes a full-service cafe with seating, two elevator banks, ample surface parking and on-site ownership and management. The five-story building also features a full-height atrium lobby.
The firm bought three retail units at 445 Fifth Avenue from Torchlight Investors. Torchlight originally acquired the retail units at 445 Fifth Avenue for $40 million in Sept. 2023. Current tenants of the property's retail units include a design agency and a restaurant.
A JV between Smith Hill Capital and Bain Capital received the loan for the refinancing of the 774-room Westin New York Grand Central Hotel. The hotel features 18,750 square feet of meeting and event space, a fitness center and a full-service restaurant. The joint venture acquired the hotel in 2019, which first opened in 2012, and undertook renovations in 2021.
The company bought the Bell at Broken Sound Apartments at 5500 Broken Sound Blvd. Northwest and 950 Northwest Broken Sound Pkwy. from Bell Partners. The purchase breaks down to $461,111 per apartment. Completed in 2018 and 2019, Bell at Broken Sound consists of 22 three-story apartment buildings and a pair of clubhouses, the units breaking down to 180 apartments and 90 townhouses.
Red Bird Associates unloaded the 93,917-square-foot Red Bird Center shopping mall, which is fully leased. The 5.6-acre property is located at 5761 Bird Rd. The mall was built in 1986.
The real estate firm bought the eight-story, 92-unit apartment building, located at 5 Suburban Dr. The seller was FPA Multifamily. Built in 1965, Renew Worcester features 63 one-bedroom and 29 two-bedroom units.
The company scored the loan to refinance a nearly 219,000-square-foot office building in Rochelle Park. The five-story building has a full-height atrium lobby, a full-service cafe with seating, two elevator banks and ample surface parking to accommodate tenants ranging from 1,000 to 50,000 square feet. Bergman Real Estate Group says he building is a "standout office building with a strong tenant mix and incredible location."
The firm acquired the CubeSmart Self Storage facility at 4520 San Juan Ave., Jacksonville. The seller was Brightwork Real Estate. The three-story, 104,830-square-foot mini-storage was built in 2024 on 1.66 acres. The property previously sold for $1.645 million in 2022.
The company used the loan to acquire the Riverhead Medical Office Park on Long Island. Riverhead Medical Office Park consists of six single-story buildings totaling 101,949 square feet that were fully leased at the time of the loan closing.
The company sold a portfolio of four multifamily buildings totaling 17 units in the Red Hook area of Brooklyn. The buildings are located within six blocks of each other along Van Buren Street and include two retail spaces. Blue Sky Diner was the buyer.
Sotheby’s auction house sold its long-time headquarters at 1334 York Ave., its home since 1980, to Weill Cornell medical school. The building will become an extension of Weill Cornell Medicine’s main campus. Sotheby's is relocating to the Breuer Building at 945 Madison Ave., which it purchased from the Whitney Museum of American Art in 2023.
The loan is for the refinancing of a portfolio of four apartment buildings totaling 1,018 units in Northern New Jersey. The portfolio comprises the 106-unit Meridia Village Commons in South Orange, the 212-unit Meridia Pompton Lakes, the 402-unit Meridia Linden and the 294-unit Meridia Little Ferry. The properties, which collectively house about 30,000 square feet of retail space, were all built between 2022 and 2025.
The firm sold Manor Barrett, a 347-unit apartment complex in Kennesaw, and Town Laurel Crossing, a 360-unit complex in Buford. The buyer of both locations was GSL Properties, which paid $110 million for Town Laurel Crossing and $106 million for Manor Barrett. Both properties were developed by Related in the past two years.
The refinancing loan is for the office building at 27 Drydock Ave. in Boston. The 286,000-square-foot property, developed in the early decades of the 20th century, has a high concentration of life science tenants. Beacon Capital acquired the Seaport District property in 2020 for about $261.9 million.
Fairfield Residential acquired Park Central Apartments, located in the North Hills district, in a JV with Kane Realty Construction. Totaling 286 apartments, the building also features 36,000 square feet of retail space. Amenities at the community include a sky deck with a saltwater pool, clubhouse, sauna, dog spa, fitness center, conference center and a dedicated parking garage.
The firm purchased Village Square Apartments, a 68-unit multifamily community in Ocala, Florida. Built in 1974, Village Square Apartments is located at 1715 Northeast 36th Ave. on a 5.3-acre site comprising eight two-story buildings. Amenities include on-site laundry facilities, a swimming pool and private patios or balconies for every unit. The seller was undisclosed.
The loan is for Pearl House, Vanbarton Group's office-to-residential conversion at 160 Water St. Construction on Pearl House wrapped in Jan. with the former 525,000-square-foot office building redeveloped into 588 rental units. Pearl House's amenities includes a spa, a bowling alley, a pet wash, a game den and a full rooftop bar. Vanbarton purchased the 26-story building in 2022.
A JV between Mast Capital and AEW sold Remi on the River. Valeris Capital acquired the 342-unit apartment property. The eight-story building at 999 Northwest Seventh St. was built in 2024 and is 93% leased.
The loan is for the 114-key ModernHaus SoHo hotel, built in May 2021. ModernHaus SoHo sits at 27 Grand St. and features amenities including a cafe and a rooftop pool and bar. Thor Equities Group acquired the hotel property for $66.3 million in 2017 from PGIM Real Estate.
The company sold 640 Broadway, a nine-story apartment building in Manhattan's NoHo neighborhood. The building houses loft-style residential units and 4,200 square feet of retail space that's fully leased. The buyer was a JV between Pamera North America and Targo Capital.
The company purchased Palm Square, a 77,621-square-foot retail center in Pembroke Pines. Built in 1987 on 8 acres, Palm Square features a mix of tenants including Dunkin', Sherwin-Williams, KFC, Goldfish Swim School, Smile Xperts Family Dentistry & Orthodontics, Florida Medical Healthcare, Fordham Fitness and the Atlantic Montessori Charter School. The seller was undisclosed.
The company purchased the mixed-use buildings at 643 and 647 9th Ave. The buildings include 23 residential units across five- and six-story walk-ups. The seller was undisclosed. Aetna Realty plans to leave the buildings as is.
The company acquired Crown Court, a 120-year-old senior housing facility in Inverness, Florida. Vseva Crown Court plans to upgrade the aging facility to "better serve residents and position it for long-term demand." The seller was undisclosed.
The Home furnishings company purchased the full-building Nike flagship store at 529 Broadway in SoHo. Ikea said it plans to use the first and second floors, about 25,000 square feet, for its second Manhattan store. It will also use the lower level for storage and operations, and plans to renovate the upper floors for office use.
The company acquired two multifamily communities, totaling 377 units, from Avenium. The properties, Parkside Apartments and Creekside Apartments were purchased for $31.5 million and $15.5 million, respectively. Parkside, which contains 281 units, was built in 1971 and is currently 95.7% leased. Creekside, with 96 units, was completed in 2000 and features one-and two-bedroom units.
The loan will refinance the multifamily complex located at 237 McGuinness Blvd. in Brooklyn's Greenpoint section. Called The Dome, the eight-story building features 6,200 square feet of ground-floor retail space. Community amenities include a fitness center, game room and rooftop lounge.
Private equity firm Meadow Partners will be investing preferred equity alongside fresh cash from the building's owner, Edward J. Minskoff Equities. The extra capital will fill a gap that needed to be plugged after Wells Fargo extended a $235 million loan against the 44-story building. Meadow Partners says this shows how corporate landlords are increasingly turning to private credit lenders to help refinance properties that banks have grown more reluctant to fully underwrite following the pandemic.
The loan will refinance the 23,300-square-foot building at 2875 Broadway in Manhattan's Upper East Side. The mixed-use building houses retail and healthcare outfits. The loan borrower was a JV between TPG Angelo Gordon and Premier Equities.
The company used the loan to purchase the Home2 Suites by Hilton hotel in Wayne, located in Northern New Jersey. The hotel was built in 2020. Amenities include an indoor pool, fitness center, complimentary hot breakfast and an onsite restaurant.
The company sold both Town Laurel Crossing, located in Buford, and Manor Barrett, located in Kennesaw, to an undisclosed buyer. Totaling 707 units and both built in 2024, the communities offer one- to three-bedroom units with amenities such as pools, fitness centers, lounges and a dog park.
The firm paid roughly $603 a square foot for a total of 136,000 square feet of combined office space at 3225 Aviation Ave. and 3250 Mary St. Azora Private Solutions paid $47.5 million for the four-story building with roughly 79,000 square feet of office space at 3250 Mary St., which also includes a surface parking lot that can be developed into a second building. The firm also bought the seven-story, fully-leased building with 57,000 square feet of office space at 3225 Aviation Ave. for $34 million.
The landowner acquired a 0.7-acre assemblage at 2200-2230 Northwest Second Ave. and 224 Northwest 22nd Terrace. The site is approved for a five-story mixed-use development that could be either offices or residential with ground-floor retail. The seller was Abingdon Square Partners.
The company bought King's Point Shopping Center and Professional Building, a 77,852-square-foot retail shopping center and professional medical/office property. The building is located at 6600 W Atlantic Ave. in Delray Beach. The seller was undisclosed.
The company sold Peachtree Plaza, a 63,176-square-foot shopping center in Delray Beach. The buyer was a New York-based grocery chain. Peachtree Plaza is located at 5850 Atlantic Ave., completed in 1986 and was fully leased.
The company sold Laurel Lakes, a rental community consisting of 68 townhomes in Seffner, Florida. The buyer was BIP. Built in 2024 and located at 9281 Cape Verde Dr., Laurel Lakes offers community amenities including on-site management, ample parking and pet-friendly spaces.
The company secured a $465 million refinancing loan for The Hub on Causeway, a one million-square-foot mixed-use tower in Boston. Wells Fargo Bank, Bank of America and Morgan Stanley issued the note. The Hub on Causeway features seven stories of retail space and 31 stories of office space, all located at 100 Causeway St.
The global asset manager acquired a 230,976-square-foot warehouse in Weston, Florida. The building, which was constructed in 1995 on a 15-acre site at 3245 Meridian Pkwy., was sold by Cabot Properties. The seller bought the building for $33 million in 2019.
The loan is for an 853,611-square-foot industrial property located at 100-200 Murray Dr. in Warren. The building features include clear heights of up to 70 feet and 59 total dock doors. The loan borrower was a private investor, Yisroel Cherns. The property is 83% leased.
The Boston-based company acquired two fully-leased industrial properties at 121 and 131 Ethel Rd. West in Piscataway, New Jersey. The 101,454-square-foot buildings house tenants in distribution, warehousing, food production and R&D. The seller of the buildings in the off-market deal was undisclosed.
The company purchased 321 Starr St. in Brooklyn neighborhood from Arel Capital. The property last traded hands in 2015 for $9 million. The one-story building is fully-leased, to a restaurant and a sports activity center, and spans about 27,000 square feet
The company sold its 1,368-square-foot downtown office building, located at 2431 First St. in Fort Myers. The buyer was a local unnamed investor. Gecko Holdings paid $265,000 for the building in 2015. The building, renovated in 2017, features four private offices, a conference room and other amenities.
A JV between Lamar Companies and Real Capital Solutions bought Stamford Office Towers, a two-building office complex at 680 and 750 Washington Blvd. The sale also includes a vacant parcel of land adjacent to 750 at 734 Washington Blvd. The office buildings are 326,468 square feet in total, with each building standing 11 stories tall and 83% leased cumulatively.
North Signal Capital and EJF Capital obtained the loan to refinance a Hardeeville, Georgia distribution center portfolio. The three-building portfolio includes RiverPort Buildings 5, 6 and 7, totalling 1,324,186 square feet. Built in 2023, the properties are 9.5 miles from the Georgia Ports Authority container terminal and are 87% leased. Tenants include logistics providers, consumer products distributors and security system manufacturers.
The loan refinances the existing construction loan on Astor Sound at Lake Worth. Located at 2201 Tenth Ave., the 230-unit, garden-style apartment community includes four two- to five-story buildings and a clubhouse on a 6.5-acre site. Units range from one- to three-bedrooms and community amenities include a resort-style pool, fitness center, outdoor entertainment area, dog park, resident co-working lounge and a game room.
IDI Logistics sold the fully occupied 395,750-square-foot industrial asset in Lithia Springs, Georgia. Completed in 2002, the property at 2124 Skyview Dr. sits on 34 acres near Interstate 20. The building features 32-foot clear heights, 47 dock doors, 243 vehicle parking spaces and 53 trailer parking spaces. There is room to add 31 dock doors and the vehicle parking can be expanded to 274.
EMP Capital sold the property, a 19,000-square-foot mixed-use residential and retail property, to a private family-run investment firm. Located at 149 Spring St., the ground floor features 2,254 square feet of vacant retail space.
Albany Road Real Estate Partners bought Park at Bay Plaza, a 186,239-square-foot office campus. The property sits on 13 acres and includes 65 office suites across seven buildings. The property was constructed between 1974 and 1985 and offices range from 379 to 9,348 square feet. The property was 85% leased at the time of sale.
Hunneman arranged the sale, representing the seller and procuring the buyer, both of which remained anonymous. The 14-unit apartment complex is spread across two buildings at 10-12 Greeenway Crt. in the Brookline area of the city. Originally built in 1915, all units are two-bedrooms.
PCCP provided senior loan financing to CBRE Investment Management for eight industrial buildings in Pennsylvania and Florida. The financing will be used to refinance existing debt across three industrial developments. The largest loan, $142.4 million, was for Capital Logistics Center in Middletown, Pennsylvania, which includes six buildings that are 92% leased. The development includes 147 dock doors, 10 drive-in doors, 649 car parking spaces and 129 trailer parking spaces. Another $70 million loan was provided for Centerstate Logistics Center in Lakeland, Florida, a 1 million-square-foot property on a 165-acre site that is 52.5% leased. The final transaction was $33.4 million for Lakeside Logistics Center in Plant City, Florida. The 505,160-square-foot property, which includes 128 dock-high doors, four drive-in doors, 303 car parking spaces and 150 trailer stalls was 50% leased at the time of the loan closing.
The New York-based firm acquired the two development sites in Miami's Wynwood district for significantly below the $62 million the seller paid in 2023. The first assemblage, totaling 1.1 acres, includes a retail building and several vacant lots previously approved for a 12-story mixed-use project with 180 co-living apartments. The second assemblage, 0.7 acres, consists of five vacant lots with city approval for an eight-story hotel with 211 rooms and nearly 20,000 square feet of retail. The sellers were two Delaware entities.