PGIM sold The Ponce, a 348,473-square-foot two-building office complex in Coral Gables, for $97.8 million to Intalex Capital, Itero Investments and Greenwall Capital. CBRE represented PGIM and arranged a $105 million acquisition loan from ACORE Capital. The buyers plan to invest $30 million in renovations, including upgrades to common areas, amenities, building systems and courtyards, with completion targeted for 2027.
ICON Real Estate Advisors arranged the $3.1 million sale of 604-618 Van Houten Avenue in Clifton, New Jersey, a mixed-use asset with 11 apartments, five fully occupied retail spaces and about 30 parking spaces. The property drew multiple offers during a broad marketing process, with ICON's David Betesh representing both Van Houten Investors LLC and the buyer. The asset's appeal centered on stable retail tenancy and upside in the residential units, with transit access to Northern New Jersey and New York City adding to investor interest.
Chicago Atlantic Real Estate Finance, completed a $62.5 million transaction involving second-lien notes secured by thirty-two cannabis retail properties managed by Koach Properties Manager LLC. Koach issued the notes to REFI in exchange for $4.3 million common shares valued at $14.53 per share. The notes carry 10.0% cash interest, 2.0% PIK interest, a 2.5 times commitment exit fee, and have an aggregate weighted average maturity of about 12 years.
Midtown Capital Partners purchased Cypress Park, a 256,838-square-foot industrial property near Orlando International Airport, for $56.1 million. JLL Capital Markets represented seller Herbert Management Corp. in the sale of the five-building asset, which spans roughly 23.4 acres and was 99% leased at closing to 26 tenants across nine industries.
Crescent Heights secured a $332 million refinancing for NEMA Chicago, the 76-story, 800-unit apartment tower at 1210 South Indiana Avenue. JLL Capital Markets arranged the debt package, which includes a $275 million five-year fixed-rate senior loan from New York Life Insurance Company and a $57 million mezzanine loan from PGIM Real Estate. The financing replaces a $340 million floating-rate loan from KKR Real Estate Finance Trust and shifts the property to fixed-rate debt amid stronger downtown Chicago multifamily fundamentals.
Property records show Woori America Bank provided a $17.6 million mortgage tied to the $25 million sale of 7 Cornelia Street in Manhattan's West Village. Hyun Jun An, an investor and business partner of SoJo Spa Club owner Eun Rae Jo, signed the mortgage documents as authorized signatory, while the buyer was masked behind a shell corporation. The deal adds to a recent string of Manhattan acquisitions involving An and Jo, including 893 Broadway for $31 million and 16 East 18th Street for $16.3 million.
Redstone Bank provided a construction loan as part of a $217 million financing package for Phase III of the Alafia affordable housing redevelopment in Brooklyn, a project led by Apex Building Group and L+M Development Partners. The financing also includes federal and state tax credit equity and other subsidies. Phase III will add 273 affordable units for households earning 70% or less of area median income, plus a one-acre public park, with construction expected to be completed in 2029.
JLL Capital Markets arranged a $111 million three-year construction loan through S3 Capital for Sense22, a 328-unit multifamily development in Miami’s Edgewater neighborhood, on behalf of borrower HA Emprendimientos. The project, slated for completion in 2028, will rise 36 stories and adds to JLL’s prior involvement after securing the land and predevelopment loan for the property in 2025.
Aspen Hospitality, a division of Aspen One, plans to develop The Nell New York, a 134-key luxury hotel within existing space at 10 Rockefeller Plaza. The project, representing an investment of more than $350 million, will repurpose former space and is scheduled to open in fall 2027 as Rockefeller Center’s first and only hotel.
An affiliate of Dallas-based Crow Holdings acquired Carrollwood Village Shoppes, a 45,353-square-foot retail center at 12904–13050 N. Dale Mabry Highway in Carrollwood, in a deal valued at approximately $120 million, according to property records. The seller Carrollwood V Group LLC, bought the property in 2015 for $13.7 million. The shopping center sits at North Dale Mabry Highway and West Fletcher Avenue, a heavily trafficked commercial corridor that includes restaurant, retail and service tenants such as Chili’s Bar & Grill, Anthony’s Coal Fired Pizza, Maple Street Biscuit Company, Side Splitters Comedy Club, Tampa Family Health and The UPS Store.
Berkadia secured a combined $85.4 million refinancing for two multifamily communities in the Orlando area through Walton Street Capital on behalf of borrower Taurus Investment Holdings. The deal covers the 280-unit Summit at MetroWest in Orlando and the 252-unit Legends at ChampionsGate in Davenport.
A trio of Bronx apartment buildings at 3572 and 3576 Dekalb Ave. and 3224 Grand Concourse sold for $16.7 million. The sellers were entities tied to Chaim Eli Bleeman, and Bronx GS Properties LLC was the buyer.
American Express broke ground on its headquarters at 2 World Trade Center, a project that will complete the 16-acre World Trade Center campus redevelopment in Lower Manhattan.
NewPoint Real Estate Capital provided $34.6 million in financing for GoodHomes Communities’ $35 million acquisition of Arlington Court Suites in Arlington, Va. GoodHomes plans to convert the 187-key extended-stay hotel into a 180-unit apartment building, extending an adaptive reuse trend in the region and the buyer’s strategy of repositioning aging hospitality assets into multifamily housing.
Longpoint Partners paid $38.8 million for a 121,579-square-foot industrial complex in Medley, Miami-Dade County, consisting of three fully leased small-bay warehouses on 5.2 acres. The deal, equal to about $319 a square foot, adds to Longpoint’s ongoing South Florida industrial investment strategy following its prior $260 million and $331 million portfolio acquisitions in the region.
Brookfield Properties and New England Development acquired the 1,400-acre former South Weymouth Naval Air Station site in metro Boston from Washington Capital Management for $65 million. The joint venture plans a major mixed-use redevelopment spanning Weymouth, Rockland and Abington, with 6,500 housing units and about 2 million square feet of commercial and retail space, following local approvals and support from the State of Massachusetts.
Sedano’s Supermarkets bought the 107,034-square-foot open-air retail center at 8601 Bird Rd. in Miami-Dade County for $32 million, adding control of an 8.7-acre property anchored by its own store and leased to tenants including Denny’s and Office Depot. The buyer assumed the seller’s $6.7 million loan and increased it by $33.4 million, bringing total debt to $40.1 million with Ocean Bank as lender. The seller, Hecht Bird Road Property, an affiliate of Amdur Management, had owned the asset since 2004.
Sunrise Senior Living completed the $7.5-million acquisition of a 2.84-acre development site at 374 Atlantic Ave. in Oceanside, New York, nearly nine years after the parties signed the purchase contract in 2017. The transaction involved a prolonged entitlement process, municipal approvals, public hearings, COVID-19-related delays and legal proceedings before closing in 2026. Sunrise plans to develop an approximately 77,400-square-foot assisted living and memory care community on the site.
Grubb Properties obtained $377 million in financing for its under-construction 462-unit residential tower at 8 Carlisle St. in Manhattan’s Financial District, including a $300 million senior construction loan from Maxim Capital Group and $77 million in mezzanine financing from Skylight Real Estate Partners and GreenBarn Investment Group. The 64-story project, marketed as 8 Carlisle, is one of a limited number of ground-up residential developments in FiDi.
CBRE arranged $105 million in financing through ACORE Capital for a partnership of Intalex Capital, Itero Investments and Greenwall to acquire The Ponce, a 365,000-square-foot office portfolio in Coral Gables, Florida, for $97.8 million. The financing will support the acquisition and future capital improvements, with the new owners planning to invest $30 million in renovations to common areas, tenant offices and amenities.
Walker & Dunlop arranged $232.35 million in financing for Aspen Square Management’s five-property, 1,585-unit multifamily portfolio across Arkansas and Florida. The deal was structured through a Tier 3 Fannie Mae credit facility as a single 10-year, fixed-rate, interest-only loan backed by primarily workforce housing communities, including one income-restricted affordable housing property.
PGIM sold the 717,805-square-foot Ponce office complex in Coral Gables, Florida, for $97.8 million to a buyer group including Intalex, Itero, Greenwall Capital Management and the family office of Carl DeSantis. Acore Capital provided a $105 million acquisition loan tied to the transaction. The new owners also plan to invest about $30 million to renovate the 65% leased complex, with work expected to be completed next year.
Grubb Properties secured a $377 million construction loan for its under-construction rental tower at 8 Carlisle Street in Manhattan’s Financial District. The financing came from Maxim Capital Group, Skylight Real Estate Advisors, GreenBarn Investment Group, Axonic Capital and Meadow Partners. The 64-story project will include 462 units and, at 789 feet, is expected to rank among Lower Manhattan’s tallest residential buildings.
JLL originated a $13.5 million Fannie Mae loan to refinance Carrier Woods, an 84-unit apartment complex in Scarborough, Maine, on behalf of borrower Chestnut Realty Management. The seven-year, fixed-rate agency loan covers a property built in 2018 with 80 market-rate units and four affordable units.
InvestMates acquired the single-story retail property at 150 Green St. in Greenpoint, Brooklyn, for approximately $26 million from Green Art Holdings, after securing a $21 million acquisition loan from Northwind Group. The developer plans to redevelop the site into a 73-unit condominium building with ground-floor retail and had already filed demolition plans with the New York City Department of Buildings.
Aimco sold its last known New York City assets at 165-173 East 90th St. for $22.85 million, marking the company’s exit from the city as it continues a broader liquidation. The sale follows stockholder approval in February of a plan to sell Aimco’s 12 remaining U.S. assets and dissolve the company after a yearlong strategic review, with the company also having sold two Chelsea apartment properties for $47 million in April.
Waste Connections acquired a 12-acre trucking terminal site at 17707 Northwest Miami Court in Miami Gardens for $51 million from CenterPoint. The property includes a surface parking lot with 370 spots and a 3,786-square-foot building, and marks CenterPoint’s second Miami-Dade trucking terminal sale in the past year.
The former 440,000-square-foot Macy’s space at 422 Fulton St. in Downtown Brooklyn is being redeveloped into BKX, a five-floor retail and amusement destination by co-owners United American Land and the Jackson Group, with Dreamscape Retail & Entertainment leading the conversion and tenant recruitment. The project represents a major repositioning of one of New York City’s largest available retail blocks into a mixed-use-style retail, dining, entertainment and experiential venue aimed at flagship retailers and next-generation brands.
Southwest Florida’s industrial real estate market is showing renewed momentum in 2026, with first-quarter absorption of 115,777 square feet of flex and industrial space after 189,303 square feet of negative absorption in fourth-quarter 2025, according to Colliers. Leasing activity has already outpaced all quarters in 2025, driven by pent-up demand from users that delayed decisions last year, even as overall vacancy rose to 9.7% from 7.2% a year earlier due to a recent supply increase rather than weakening fundamentals.
Kennedy Wilson purchased Carraway, a 421-unit apartment community in West Harrison, New York, for $237 million, alongside partners Kenedix and Hulic. The deal adds a recently built multifamily asset in Westchester County to Kennedy Wilson’s portfolio, highlighting continued large-scale investment activity in New York-area residential real estate.
Southwood Realty Co. purchased Mason Augusta, a 462-unit apartment community in Augusta for $87 million. Cushman & Wakefield represented seller Waypoint Residential in the transaction. The property, developed in 2022 and 2024 and 95% occupied at the time of sale, adds a recently built multifamily asset to the buyer’s portfolio.
Citigroup supplied a $35 million loan to refinance a newly built 95-unit multifamily property at 406 Remsen Ave. in Brooklyn’s East Flatbush neighborhood. Meridian Capital Group arranged the debt.
RFR developer Aby Rosen has put 190 Bowery in Manhattan up for sale, marking the first offering of the former Germania Bank building in more than a decade. Rosen bought the six-story property in 2015 for $55 million in an off-market deal and has since restored and modernized it; the building now has 33,000 square feet of office space and ground-floor retail that are 100% leased, with office space leased to Industrious at a $95 per square foot asking rent.
A lakefront apartment complex in Pembroke Pines sold for $80.5 million to an out-of-state property company. The 358-unit property spans 25 acres and previously sold in 2016 for $23.4 million, marking a notable multifamily real estate transaction in the local market.
A Commercial Observer roundup highlighted several major real estate deals, but for commercial banking and legal-sector readers the clearest market signal was in New York City office leasing, where Colliers reported second-quarter leasing volume doubled to 11.02 million square feet, the strongest velocity since 2002. Asking rents rose 5.7% year over year to $78.03 per square foot, with law firms accounting for roughly 30% of leasing activity, alongside large renewals such as Cerberus Capital Management’s 131,000-square-foot extension at 875 Third Avenue.
Sun Life Financial acquired Bell Partners, bringing the apartment company's extensive multifamily portfolio, including three Jacksonville properties, into BentallGreenOak's global real estate investment platform.
A warehouse at 44-68 Vernon Boulevard in Long Island City sold for $15.5 million. Queenbea 44-68 LLC sold the roughly 15,800-square-foot property to LIC Vernon 45 LLC.
The loan is for 31 W. 52nd St., a 785,087-square-foot office tower in Manhattan's Plaza District. The asset has been under Rithm Capital's ownership since 2007. Completed in 1986, the office property rises 20 stories and features a 120-spot parking garage and nearly 33,000 square feet of retail space. The office building is 86.5% leased to 16 tenants.
A JV between Kennedy Wilson, Kenedix and Hulic bought Carraway, a 421-unit multifamily community in West Harrison, New York. Completed in 2021 by Toll Brothers Apartment Livin, the Class A property is located at 105 Corporate Dr. in West Harrison and includes approximately 6,400 square feet of ground-floor retail. The property was the developer's first completed project in New York.
The $61 million bridge loan is for Braddock Park West, a 10-story apartment building located outside of New York City in North Bergen. Completed earlier this year, Braddock Park West features 135 units in studio, one- and two-bedroom floor plans with an average size of 801 square feet. Amenities include a fitness center, coworking lounge and a rooftop terrace.
The company acquired Perimeter Woods, a 127,000-square-foot retail center in Charlotte, from Kite Realty. The retail center is 95% occupied. Perimeter Woods was part of a six-property acquisition by DLC, which owns and operates open-air shopping centers.
HF NYC bought the properties located at 8301 and 7705 Bay Pkwy. in Bensonhurst and 1201 and 1640 Ocean Pkwy. in Midwood. All four properties are multifamily spaces. No other details on the sale were provided.
They purchased the 12-story mixed-use building at 118 West 22nd St. in Manhattan's Flatiron District. The approximately 100,000-square-foot property, built in 1911, was sold by Adlie Associates, which had owned it since 1986, while GFP Real Estate continues to manage the building. Current tenants include Walter B. Melvin Architects, Kleinfeld Bridal Boutique and NY Cake, which occupies a 10,500-square-foot ground-floor retail space.
The firm sold Maitland 200, a 207,000-square-foot four-story atrium-style office building located at 2301 Maitland Center Parkway in Orlando, Florida. The property is just over 50% occupied. The buyer was undisclosed. The building features a pristine lobby, a modern common conference center, lakeside views, an on-site deli and 885 parking spaces.
A 16,500-square-foot development site at 863 Dean St. in Brooklyn’s Prospect Heights neighborhood has sold for $16 million. The property is zoned for residential or mixed-use development, signaling continued transaction activity for redevelopment sites in New York City. Marcus & Millichap represented the seller, a local family, and also procured the buyer, though both parties requested anonymity.
SRS Real Estate Partners arranged the $4.5 million sale of a single-tenant restaurant property in Orlando within a new 75-acre mixed-use development under construction. Chipotle occupies the 2,493-square-foot building under a 15-year corporate-guaranteed absolute triple-net lease. SRS represented the seller, a Florida-based developer and investor, and the buyer was a Columbus, Ohio-based investor.
Charney Companies acquired 143 Roebling Street, a five-story, 49-unit loft and rental property in Williamsburg, Brooklyn, from Calmwater Capital for $20 million. The developer plans to restore and modernize the long-vacant 1907 building, while BH3 Fund Advisors provided $30 million in financing for the acquisition, predevelopment and planning of the project.
Digital Realty agreed to buy Blackstone-affiliated funds’ $3.5 billion equity stake in a three-property data center portfolio in Sterling and Manassas, Virginia, a commercial real estate transaction with a gross portfolio value of $7.8 billion. The deal covers Blackstone’s 80% interest in two Manassas data centers and 50 percent interest in one Sterling facility, including assumed debt and remaining capital expenditures. The assets total 288 megawatts of IT capacity, are fully leased for 15 years to investment-grade hyperscale customers and are expected to stabilize in 2027 and 2028.
Urban Realty Partners and MarMar Realty, the Macaluso family’s private development arm, acquired the 81K SF Whitestone Lanes property at 30-05 Whitestone Expressway in Queens for $45M, according to a deed filed Tuesday. The joint venture can redevelop the historic bowling alley site into a nine-story, 406K SF multifamily project with up to 415 apartments and public space following a 2023 rezoning approval, with the project also expected to include affordable housing and qualify for incentive programs.
Benchmark Real Estate Group secured the CMBS refinancing from Citigroup for its 61-unit multifamily property at 194 East Second Street in Manhattan’s East Village. The loan refinances the six-story apartment building Benchmark bought in 2024 for $43 million, with JLL arranging the financing.
A Broward judge entered a final foreclosure judgment in April against the ownership entities of Hillsboro Beach Resort after they defaulted on a $26 million loan from an Emerald Creek Capital affiliate, with accrued interest and fees bringing the debt to about $40 million. The 81-room, six-story resort's amenities include an outdoor pool, fitness center, beach access and a restaurant. The foreclosure auction for the 70,800-square-foot oceanfront resort at 1159 Hillsboro Mile is scheduled for July 16.
Sioni Group acquired the 12-story office building at 38 West 21st Street in Manhattan’s Flatiron District, according to city records. The seller was Jack Vogel Associates, which had owned the property since 1968. BKREA marketed the 1908-built asset, located in the Ladies’ Mile Historic District, as a potential office-to-residential conversion candidate, though broker Bob Knakal said late-stage bidding from office investors intensified competition and benefited the seller.
United Commonwealth Bank provided a $15.25 million fixed-rate acquisition loan for Collier Place I and II, a 60,572-square-foot two-building office complex in Naples, Florida. JLL Capital Markets arranged the financing for borrower Collier Place Owner, an affiliate of KMB Southern Ventures. The property is 97.4% leased and the new owners plan to make capital improvements.
An investment firm affiliated with billionaire Sergey Brin, Amphitheatre, reportedly sold its stake in an A&E Real Estate-managed New York fund holding nearly 5,900 multifamily units. Records cited in the article put the gross value of the stake at roughly $79 million, while A&E said the exiting investor accepted six cents on the dollar on its original equity investment to leave the New York City multifamily sector.
Cushman & Wakefield arranged an undisclosed amount of acquisition financing and joint venture equity for an approximately 8-acre industrial outdoor storage facility in South Plainfield, New Jersey. The financing was secured on behalf of sponsor Ridgecut Road for the property at 200 Saint Nicholas Ave., which includes two maintenance facilities totaling 10,000 and 20,000 square feet.
Wells Fargo provided financing for a 476-unit development called NUVO Delray Beach at 9494 Ilumina Way. The garden-style project is expected to be completed by late 2028. In 2022, NADG paid $42 million for the parcel on which the multifamily project is being built.
The firm purchased The Landings at Pembroke Lakes, a 358-unit, garden-style apartment community located at 10650 Washington St. in Pembroke Pines. The buyer plans to invest in light capital improvements to the property’s interiors and common areas. Built in 1989 around a 45-acre lake, The Landings at Pembroke Lakes is situated on a 27-acre site and offers a mix of one- and two-bedroom apartments. The seller was not disclosed.
The loan is for the refinancing of Latitude, a 35-acre office campus located in Parsippany, New Jersey. Latitude features 524,859 square feet of office space across multiple buildings. The borrower, a JV between Rubenstein Partners and Vision Real Estate Partners, first acquired Latitude in 2017 and subsequently renovated and expanded the campus.
A JV between CP Group and Rialto Capital Management secured the loan to reposition the CTR building in Downtown Atlanta. The loan will be used to transform the 1976-built property into a mixed-use campus and retail district. Located at 190 Marietta St. NW, the historic building has sat vacant since CNN relocated its operations in early 2024.
The firm acquired 101 Marietta, a 36-story, 673,819-square-foot office tower at 101 Marietta St. NW in downtown Atlanta. The building is currently 54.1% leased. Originally constructed in 1975 and renovated in 1999 and 2016, 101 Marietta has seen over $12 million in capital improvements completed by prior ownership, including lobby renovations, tenant amenities, building systems upgrades and digital signage enhancements.