The loan will finance a two-property apartment tower portfolio in Washington, D.C.'s suburban Maryland region. The portfolio covers Solaire 7607 Old Georgetown, a 22-story, 198-unit tower in Bethesda and Solaire 1150 Ripley, a 16-story, 295-unit property in downtown Silver Spring. The towers were built in 2022.
The firm bought a 43-acre industrial development site near Miami from Blackstone. The site is located along Route 924 and split between 33 acres at 12691 Northwest 42nd Ave. and 10 acres at 12705 Northwest 42nd Ave. in Opa-locka, Florida. Blackstone bought Gramercy Property Trust for $7.6 billion in 2018.
Scannell Properties unloaded the 990,670-square-foot warehouse located at 19800 S. Obrien Road in Groveland, a town outside Orlando. The industrial building, on an 89-acre site, was built in 2023. The warehouse is occupied by a logistics company.
A JV between Kushner Companies and PTM Partners have locked the financing for 2000 Biscayne, a luxury apartment building in Miami's Edgewater neighborhood. The JV delivered the 36-story, 420-unit apartment building in Oct. 2024, which features views of Biscayne Bay and close proximity to nearby restaurants, shopping and entertainment. The building is 75% leased, with amenities that include coworking spaces, community dining areas, a children’s play area and a dog park.
The two-building industrial property totals 218,316 square feet at 400 Main St. and 50 Leland Ave. in Ashland, Massachusetts. The seller was a JV between Pout Rock and Cold Spring Brook. The property is fully leased to a single tenant, United Technologies. The 18-acre site encompasses two buildings with manufacturing, warehouse and back-office operations.
Rudin Management secured the refinancing loan for 3 Times Square, its 950,000-square-foot office tower in Midtown Manhattan. The 30-story building came online in 2001 and was renovated in 2024. Upgrades include an expanded lobby and a dedicated amenity floor including a cafe, a coffee bar, customized catering services, a lounge area and a fitness center.
The firm acquired Crabtree Mall, a shopping mall approximately 1.3 million square feet in Raleigh, North Carolina. The mall has 200 stores, dozens of restaurants and three anchors. Macerich said it plans to implement a series of property improvements over the next three years to "maximize the center's performance."
Royal Senior Care sold its 127-unit senior living facility in Miami-Dade County to a JV between Winterpast Capital Partners and Vitality Senior Living. The facility, called Oasis at Coral Reef, is located at 15005 to 15060 S.W. 97th Ave. The senior facility has 102 independent living, 71 assisted living and 28 memory care rooms, a dining room, a clubhouse, a pool, a fitness center and a spa.
A JV between Kolter Group and Perko Group bought out all the owners of a 38-unit condominium property on the Intracoastal Waterway in West Palm Beach. The group bought out the condo owners to build an 18-story, 39-unit project with nearly 1,000 square feet of retail space. A construction timeline for the rebuild wasn't disclosed.
The company sold six commercial units in the Brill Building, located at 1619 Broadway, to John Gore Brill Holdings. Current tenants of the Brill Building include CVS and TD Bank. Neither party commented on the transaction.
The company used the loan to acquire the 110,551-square-foot Springfield Avenue Marketplace. The shopping center is 96% leased with ShopRite as its anchor and a diverse tenant roster including national and credit retailers. Springfield Avenue Marketplace was built between 2015 and 2016 and is located near companies and universities.
The private equity firm traded Tysons International Plaza, at 1919-1921 Gallows Rd., to Fortress Investment Group for $54 million, 60% less than the $136 million Rockpoint paid for it in 2018. Built in 1987, the plaza spans roughly 454,000 square feet. Rockpoint also sold Tysons Dulles Plaza, at 1410-1430 Spring Hill Rd., to JBG Smith for $42.3 million for 68% less than the $130.5 million Rockpoint paid for it in 2017. JBG Smith plans to redevelop one of the buildings at Tysons Dulles Plaza into residential use.
The portfolio consists of an 88,000-square-foot facility in Taunton, located south of Boston, and a 104,380-square-foot structure in Haverhill, a northern suburb of the state capital. Both buildings were fully leased at the time of sale. The buyer was Ares Real Estate.
The firm bought a 232,310-square-foot building at 13006 Sam Neely Rd. in Charlotte, North Carolina. The seller was LBA Logistics, which purchased the 19-acre site in 2022 for $8.7 million. Further details on the sale weren't provided.
The firm traded its roughly 94,000-square-foot warehouse at 950 South Pickett St. in Alexandria to WareSpace. WareSpace provides co-warehousing properties to small businesses. Douglas paid about $11.3 million for the office in 2021.
The company acquired the five-story office building at 540 Broadway in Manhattan's SoHo neighborhood from Broadway Continental. The sale price breaks down to $1,197 per square foot. The building was completed in 1910 and has space for five commercial tenants plus ground-floor retail space.
The company purchased One Tower Creek, a 100,000 square-foot building at 3101 Tower Creek Pkwy. in the Cumberland/Galleria submarket. The seller was Mivne Group, who purchased the building in 2004. One Tower Creek said this is the firm's first foray into a traditional office building of this size.
The loan will refinance The Plaza Grande, a 507-unit adult-only residential building located in Cherry Hill, New Jersey. Units are reserved for renters age 55 and above. Amenities include an 18,500-square-foot clubhouse, golf simulator, indoor and outdoor pools, tennis and pickleball courts, a theater and lounge areas.
The firm acquired Evolve at Parkway, a garden-style multifamily property in the Charlotte suburb of Concord, N.C. The 300-unit asset, at 50 Fenway Place Southwest, was built in 2023 and is almost fully leased. Evolve Companies was the seller of the property, which includes a saltwater pool, a fitness center, a pet wash station and a dog park.
The company purchased the 23,703-square-foot building at 1101 Oak Point Ave. in Hunts Point from PepsiCo. Neither party in the sale commented on the transaction. The distribution center is occupied by Frito-Lay and it's unknown if they'll stay.
The refinancing loan is for Manassas Mall, a 941,574-square-foot shopping center located in Washington, D.C. Originally developed in 1972, the center was expanded in 1988 and renovated in 2016. Manassas Mall features more than 80 retailers including Macy’s, JCPenney, Sears, Target, Walmart, H&M, American Eagle Outfitters and Old Navy, as well as a theater and arcade.
A JV between Condyne Capital Partners and UBS Realty Investors sold its 165,625-square-foot warehouse in Windsor. The building at 105 Baker Hollow Rd. was completed in 2022 and features 32-foot clear height, 38 loading docks, one drive-in door and parking for 117 cars and 58 trailers. The buyer was NorthPoint Development.
The loan is the refinancing of a 189,836-square-foot industrial property in Wall Township, New Jersey. Built between 2001 and 2006, the property at 1800 Route 34 consists of four buildings on an 11-acre site. The property is fully leased to businesses in the fields of engineering, construction, healthcare and manufacturing.
The firm bought 11-40 Borden Ave., a two-story, 36,000-square-foot industrial property located in Long Island City. The seller was Wickersham Realty. The property is 100% leased to an unnamed distributor.
The company bought 101 Station Landing, a 160,482-square-foot office building located in Medford, Massachusetts. The five-story building includes a café, outdoor plazas and garage parking. The seller was the James Campbell Company.
The company sold 180 Main St., a three-story, 7,416 square foot office building in Annapolis, Maryland. The buyer plans to occupy the building. The seller was Annapolis Business Park and the sale was an off-market transaction.
The firm scored the refinancing for The Monterey, a 522-unit luxury community in Manhattan, New York. The 1992-completed community encompasses studio and one- to three-bedrooms, as well as penthouses, ranging from 488 to 1,700 square feet. Located at 175 E. 96th St., amenities comprise a business center, resident lounge, sauna, rooftop terrace and a gym.
A JV between Real Capital Solutions and Silverline Equities bought Tysons Pointe, a two-building, 373,617-square-foot campus in Tysons, Virginia. The two office buildings were purchased through a receivership sale. Rockpoint purchased the asset for $90 million in 2017 before it eventually fell into distress, forcing Rockpoint to hand the keys to the lender, U.S. Bank. The two buildings at Tysons Pointe are about 75% leased to 28 tenants.
The firm scored a $48.1 million bridge loan for its 117,000-square-foot warehouse at 153-44 South Conduit Ave., also known as the JFK Conduit Logistics Center, the lender announced Monday. The building opened in 2023 and is currently available for lease. Wildflower said the warehouse has secured underground parking, strong regional connectivity and is "well-positioned for long-term success."
An entity managed by Sedano's Supermarkets CEO Agustin Herran sold four contiguous vacant parcels to Mount Sinai. The 2.3-acre assemblage is located at 4401, 4431 and 4475 Northwest Seventh Ave. and 790 Northwest 44th Ave. Mount Sinai will use the Blue Lagoon site to build an outpatient center, which will be a 37,700-square-foot facility with an emergency department on the first floor and medical offices on the second floor.
The company sold off Pinecrest Square, a 40,409-square-foot shopping center located in the Fort Lauderdale neighborhood of Cypress Creek. The center has space for lease, but has current tenants including ChenMed, 7-Eleven, Jiffy Lube, Cheers Food and Spirits and Veterinary Emergency Group. The buyer was 903 Cypress Creek.
The company acquired the site of a 5-story rental building at 392 St. Marks Ave. The seller was All Year Management. The building was vacant at the time of sale, and Smart didn't divulge its plans for the property.
The loan is for Eastchester Gardens, which was built in 1950. The property consists of 10 residential buildings, offering a total of 877 units. The loan, provided by Merchants Capital, aims to improve the property's community center, senior center, plumbing, heating and cooling systems, electric systems, kitchens, bathrooms, while adding new lighting and flooring. NYCHA will also use portions of the loan to add community and outdoor spaces and offer supportive services through a partnership with BronxWorks and abide by requirements under the Americans with Disabilities Act.
A JV between KRE Group and Brookfield Properties secured the financing for 111 Worth St. The loan refinances an existing $83.7 million outstanding balance and a $41.3 million gap mortgage. The property spans 19 stories and houses 331 residential units.
The company bought the 15-story tower at 345 Banyan Blvd. from a JV between Woodfield Development and Northwestern Mutual Life Insurance Company. Called Griffis West Palm, the 223-unit tower also includes 3,100 square feet of retail space. No other details on the purchase were disclosed.
The loan is for the refinancing of a 152-unit apartment building in Manhattan's West Village neighborhood, which is 99% occupied. The 10-story building at 110 Horatio St. includes 87 studios, 42 one-bedroom residences, 18 two-bedroom units and five penthouses. Amenities include a resident lounge, onsite laundry facility and a fitness center.
The firm paid $52 million for Fairfax Court, a roughly 250,000-square-foot retail plaza at 11200 James Swart Circle in Fairfax, Va. The seller was WPG. Current tenants at Fairfax Court, Great Wall Supermarket and LA Fitness. Edens is planning renovations at the 15-acre Fairfax Court.
The company bought the 150,000-square-foot office building, located at 5201 Gate Pkwy in Jacksonville. Deutsche Bank fully occupies the property on a long-term, corporate-guaranteed lease. Built in 2006, the three-story building sits on 13 acres. The seller was a New York-based institutional investor.
The firm acquired Griffin Yard - Mac's Millions of Parts, a 4.8-acre industrial property located at 1200 Old Griffin Rd. in Dania Beach, Florida. The property was sold by 1200 Old Griffin Rd. Griffin Yard features a 5,000-square-foot industrial building comprising approximately 20% office and 80% warehouse space. The fenced facility, built in 1977, includes 18-foot clear ceiling height and six grade-level loading doors.
A JV between EDEN Living and an institutional investment partner landed the loan to refinance and support upgrades at EDEN at Heritage Lakes in West Melbourne and EDEN at Kendall West in Jacksonville. Situated at 4850 Heritage Lakes Blvd., EDEN Heritage Lakes is a 373-unit property with amenities including package service, door-to-door trash pickup, planned social activities, a pet play area and washing stations. Located at 9105 Tredinick Pkwy., EDEN at Kendall West is a 265-unit with amenities including controlled access, a business center, pet play area, cabanas, clubhouse and door-to-door trash pickup.
The company acquired a two-building, office portfolio in Tysons, Virginia. The acquisition was a court-appointed receivership sale. The portfolio includes 8300 Greensboro Dr. and 1600 International Dr., totaling 373,617 rentable square feet. The buildings are over 75% leased to 28 tenants. 8300 Greensboro Dr. is a 12-story tower offering 277,466 square feet, and 1600 International Dr. is a four-story building totaling 96,151 square feet.
The company unloaded its office property at 33-41 Farnsworth St. The 98,000-square-foot building was purchased by a limited liability corporation tied to Connecticut-based Starwood Property Trust. The building was previously occupied by General Electric before being converted into life sciences lab space, which currently sits vacant.
The loan refinances the 400,000-square-foot Crossroads Office Portfolio in Hauppauge and Islandia, New York. The Crossroads Office Portfolio is situated at 1707-1797 Veterans Memorial Hwy. in Islandia and 1363-1393 Veterans Memorial Hwy. in Hauppauge. Constructed between 1984 and 1989, the 13-property portfolio features a mix tenants from sectors including communications, healthcare, government, insurance and financial services.
The REIT purchased Homewood Suites by Hilton Tampa-Brandon, a 126-room hotel at 10240 Palm River Rd. The Homewood Suites was previously owned by an unnamed Atlanta investor that paid $20.29 million for it in 2023. Apple says it is planning to renovate the hotel, though it did not offer details of the work to be done.
The company sold Habersham Crossing, a 149,397-square-foot shopping center located in Cornelia, Georgia. Goodwill, Tractor Supply Co., Ross Dress for Less and Dollar Tree anchor the center, which was fully leased at the time of sale. Additional tenants include Bath & Body Works, Palm Beach Tan, TB Nails & Spa and Habersham Package. The buyer was not disclosed.
The Miami-Dade Aviation Department purchased the 7.2-acre site at 2301 Northwest 33rd Ave. Neology Development Group paid $32.2 million for the land in 2021 and planned to build 1,250 residential units across three buildings. Miami-Dade Aviation Department plan to use the site to facilitate upgrades at Miami International Airport.
The development firm bought the property at 2200 Biscayne Blvd., which will be combined with an adjacent site already owned by Trilogy. The seller was undisclosed. Trinity is planning to use the combined sites to build a complex with 834 residential units.
Goldman Sachs Alternatives parted with Springfield Avenue Marketplace, a 110,551-square-foot mixed-use center located in Newark, New Jersey. A 71,000-square-foot Shoprite anchors the property, which was 97% leased at the time of sale. Developed in 2016, the property also features a 152-unit residential component. The buyer was Medipower.
The firm purchased a nearly 30-year-old warehouse in Champlin, Maryland from Link Logistics. The 240,400-square-foot property was bought by Link Logistics for $18.1 million in April 2021. The property sits on a 14.27-acre site at 9000 109th Ave. N.
The company bought 70 Central Lofts, a 31-unit apartment building in Jersey City. Completed in 2024, the five-story building includes a 32-space parking garage and a 1,696-square-foot retail space, as well as 7,000 square feet of amenity space. The seller was Legacy Development.
The company acquired a pair of single-story buildings at 266-272 W. 135th St. and 262-264 W. 135th St. from 266 West 135th Lotus. The side-by-side commercial properties include an assortment of retail and restaurant options. With the buildings both mostly vacant, the buyer is considering redeveloping both into residential dwellings.
The loan is for the refinancing of The Park at SouthSide Works, a 247-unit apartment building located in Pittsburgh, Pennsylvania. Built in 2024, the seven-story building houses one- and two-bedroom units. Amenities include a pool, a courtyard, a fitness center and a game lounge.
The company acquired Posner Commons, a 731,000-square-foot regional shopping center located in Davenport. The seller was PREP Property Group. Posner Commons was 95.5% leased at the time of sale and features tenants JC Penney, Dick's Sporting Goods, Best Buy, Staples, Books-A-Million, Dollar Tree and others.
The loan is for the refinancing of the Galaxy Industrial Portfolio, a collection of 20 warehouse buildings in the Miami suburb of Medley. The portfolio was 97.4% leased at the time of financing. The portfolio assets were built between 1982 to 1995 and are located within one mile of each other.
A JV between Community Preservation Partners and Beacon Communities acquired Brewery Square Apartments in New Haven, Connecticut. The JV plans extensive renovations to the two-building, 104-unit property, which was originally built in 1896. Located at 1 Brewery Square, the property was originally built as a brewery and then redeveloped into housing in the 1980s.
The company purchased a portfolio of nine buildings totaling 48,145 square feet in Montauk, Long Island. Known as Gosman's Dock, the portfolio covers 11.6 acres and includes four restaurants, a fish market, six retail stores, four staff residences, a parking area, marina, fish charter facilities and a boat rental site. The sale also includes vacant land that can support the development of a hotel.
The company sold the Veneto Las Olas apartment tower to Ponte Gadea USA. Related built the 650,000 square-foot, 259-unit high-rise at 201 South Federal Highway in Nov. 2021. The tower also features retail space, a pool, a spa and a sky lounge.
KRE Group secured the loan to refinance Beacon Hill, an apartment complex in Marlboro, New Jersey. The property features 285 units, including 63 affordable units, across 47 acres. Located at 100 Buckingham St., Beacon Hill features mainly two-bedroom units and includes on-site amenities such as a 4,000-square-foot clubhouse, a fitness center, a coworking lounge, a dog park and a resort-style pool.
The landlord sold 901 K St. NW to Shorenstein. Carr developed the 219,000-square-foot building near the convention center in 2009 and renovated it in 2021. Tenants at the office building include Baker Donelson, Seward & Kissel, Unite Here Local 25 and Microsoft.
The permanent financing is for Bridge Point AVE, a nearly 600,000-square-foot industrial park located within the master-planned development of AVE Aviation and Commerce Center in Miami. State Farm Life Insurance was the lender. Bridge Point AVE features three buildings that span 199,800 square feet, 110,588 square feet and 279,499 square feet. The property was 95% occupied at the time of financing, with roughly 30,286 square feet available for lease.