Newmark arranged a $94.4 million refinancing loan for Hotel Cala in downtown Tampa, Florida. The financing was provided by Bain Capital and Smith Hill Capital for the borrower, a partnership between Newbond Holdings and Apollo. The ownership is undertaking a comprehensive repositioning strategy, including a full renovation and rebranding of the property under the Curio Collection flag. Upgrades will be made to guest rooms, meeting spaces, and amenities, including a flagship food-and-beverage concept.
Kurv Industrial (formerly Bridge Industrial) sold the Bridge Point Pompano Beach Commerce Park, a 17-acre warehouse campus in Pompano Beach, Florida, for $52 million to Bain Capital Real Estate. The campus consists of three warehouses totaling 380,496 square feet, built in the 1980s and 1990s, and is located between the Florida Turnpike and Interstate 95. Kurv Industrial had previously acquired the property for $46.3 million.
Aimco sold two of its three remaining New York City assets as part of its ongoing liquidation process. Following a February announcement to sell all assets and dissolve the company, Aimco sold its mixed-use properties at 120 West 23rd St. and 237-239 Ninth Ave. in Chelsea for $46.5 million to Hubb NYC. Aimco stockholders approved the plan for the sale and liquidation of the company’s 12 remaining U.S. assets earlier this year.
BridgeCity Capital provided a $47.4 million, two-year construction loan to Castell Group for a 170-unit multifamily development at 1029 Dean St. and 1104 Pacific St. in Prospect Heights, Brooklyn. The deal closed at an 81% loan-to-cost ratio. BridgeCity highlighted Castell as a repeat borrower and noted strong rental demand in the area. The project is expected to be completed in mid-2027.
Avison Young brokered the $23.5 million sale of a fully leased 22,285-square-foot retail building at 446 W. 14th St. in Manhattan's Meatpacking District. The seller was Meatpacking Retail, and the buyer was a joint venture between Klosed Properties and Namdar Realty Group.
Extell Development acquired the former Friars Club building at 57 East 55th St. in New York City for $19 million. The landmarked property, originally built in 1908 and owned by the Friars Club since 1957, was foreclosed upon by its lender, Kairos Investment Management, after the club defaulted on a $13 million loan.
A joint venture between Real Capital Solutions and Lamar Cos. acquired the 16-story office building at 30 Montgomery St. in Jersey City's Exchange Place district. The purchase price was not disclosed. The property, totaling 368,049 square feet, recently underwent $30 million in renovations, including upgrades to the lobby, façade, building systems, and common areas. The building is currently 61% leased, with over 140,000 square feet available.
Related Group and BH Group secured a $360 million construction loan from Tyko Capital to develop Icon Beach Waterfront Residences, a 38-story, 350-unit luxury condo tower in Hollywood, Florida. The project, located at 3724 South Ocean Dr. next to the Diplomat Beach Resort, is set to begin construction in May with completion expected in 2028. The developers assembled the nearly 8-acre parcel in 2023 for $51.5 million.
CEDARst Companies obtained a $68.5 million construction loan for the development of Flats Flagler Gateway, a 215-unit Class A multifamily project located at 745 N Andrews Ave. in Fort Lauderdale. The financing supports the ground-up development of a 12-story, approximately 350,000-square-foot residential building situated on a 1.46-acre site in the city’s rapidly evolving Flagler Village neighborhood. Construction is anticipated to commence in May, and completion is projected for mid-2028.
Lument provided a $58.2 million Freddie Mac loan to refinance The Village at Unity and The Hamlet, a 332-unit seniors housing property in Rochester, New York, owned by Wegman Cos. The loan carries a 10-year term with interest-only payments for four years, a fixed interest rate and a 30-year amortization schedule.
The Moinian Group launched an adaptive reuse project at 17 Battery Place in Lower Manhattan. The project will convert approximately 150,000 square feet across five floors of the historic office property into a modern residential building featuring 220 residential units. Construction is underway, with completion anticipated in the first quarter of 2027.
A Williamsburg building housing a Trader Joe’s has been transferred to lender G4 Capital Partners for $65 million after its owners defaulted on a loan and a foreclosure process was completed. The property, developed in 2020 by Cornell Realty and partners, had been financed with over $84 million in debt that ballooned to $140.5 million before the takeover. It’s unclear whether previously proposed plans to expand the site into a larger residential development will move forward under G4’s new ownership.
Extell Development filed plans for an 86-story, 430-unit residential tower with retail space at 80 West 67th St., signaling continued expansion on Manhattan’s Upper West Side. The 1.2 million-square-foot project would significantly exceed the height of surrounding buildings and is part of a broader development push by the firm in the area.
Newmark Group arranged an $830-million portfolio financing for RHP Properties and an institutional capital partner, with Wells Fargo providing the loan. The financing supports the acquisition and refinance of a 36-asset manufactured housing portfolio, comprising 8,340 pads in high-occupancy, all-age communities. The portfolio is concentrated in supply-constrained markets with strong population growth and limited new development, supporting stable performance and continued rent growth.
National Health Investors (NHI) agreed to sell a portfolio of 35 properties, including 32 skilled nursing facilities and 3 independent living facilities, to National HealthCare Corporation for $560 million. The transaction, expected to close July 1, will reduce NHI’s skilled nursing exposure and increase its focus on private-pay senior housing.
MAG Partners and Safanad closed a $148.7 million bridge loan from Real Estate at Goldman Sachs Alternatives, refinancing the construction loan for Mabel, a mixed-income residential building at 335 Eighth Ave. in Manhattan's Chelsea neighborhood. The refinancing, arranged by JLL, follows the building's rapid lease-up and full occupancy less than a year after completion.
Shorewood Real Estate Group and Bogopa Enterprises secured $130 million in construction financing from PCCP to develop The 360, a 13-story, grocery-anchored residential property in Mott Haven, Bronx. JLL Capital Markets arranged the financing. The project will deliver 304 apartment units, including 228 market-rate and 76 affordable units, and nearly 48,000 square feet of ground-floor retail.
JLL secured a $15.1 million, five-year fixed-rate acquisition loan from M&T Bank for Vigilant Real Estate Holdings to purchase two fully leased industrial buildings totaling 129,380 square feet in Avon, Massachusetts. The properties, located at 20 and 40 Ledin Dr. within Avon Industrial Park, are leased to Waste Management.
Colliers brokered the sale of a portfolio of six office buildings totaling approximately 160,000 square feet in Marlton, New Jersey. The portfolio includes two fully leased single-story buildings at 1 and 3 Eves Drive (33,317 square feet) and the Evesham Corporate Center, a 14.2-acre development with four office buildings totaling 133,822 square feet, which was about 65% leased at the time of sale. The identities of the buyer and seller were not disclosed.
Blue Owl Capital’s real estate investment arm is acquiring Sila Realty Trust, a net lease real estate investment trust, for $2.4 billion. Sila owns 137 real estate properties and three undeveloped land parcels across 65 U.S. markets. Blue Owl’s acquisition focuses on Sila’s diversified healthcare net lease portfolio, which features long-term triple-net leases and strong tenant fundamentals.
CSC Real Estate secured $108 million in construction financing from SCALE Lending for the office-to-residential conversion at 300 East 42nd St. in Manhattan. Arrow Real Estate Advisors arranged the financing. The project will convert 12 of 18 floors into 140 residential units, with 25% designated as affordable under the state's 467m tax abatement program. The redevelopment, which includes 11,000 square feet of amenities, is scheduled for completion in the first quarter.
North Bridge provided an $8.5 million C-PACE loan to JEMB Realty for Herald Towers, a 690-unit apartment complex at 50 W. 34th St. in Midtown Manhattan. The loan will fund infrastructural upgrades and modernization of building systems. This transaction marks the first multifamily C-PACE deal to close in New York City.
CBRE brokered the sale of a portfolio of three medical office buildings located at 945, 999, and 1275 Summer St. in Stamford, Connecticut. The properties, which house 15 medical and dental practices, were sold by Summer Street Properties to an affiliate of Albany Road Real Estate Partners.
Time Equities secured a $160 million construction loan from M&T Bank for a multifamily development in Boynton Beach, Florida. The financing will support a phase of the Town Square public-private partnership, which includes an eight-story building with 465 apartments, 50,000 square feet of amenities, 6,300 square feet of retail space, and a 1,005-space parking garage. Additionally, the Boynton Beach Community Redevelopment Agency approved a $20 million tax increment revenue financing agreement, with conditions on retail rent pricing and tenant build-out funding.
MAG Partners, in partnership with Safanad, secured a $148.7 million bridge loan from Goldman Sachs Alternatives to refinance the construction loan for the Mabel, a 188-unit mixed-income residential building in Chelsea, New York. The loan was arranged by JLL. The Mabel is nearly fully leased less than a year after completion and includes a 23,000-square-foot Lidl grocery store opening this fall.
Concord Wilshire Capital acquired a 43-acre mixed-use development site in Royal Palm Beach, Florida, for $60 million. The property, previously approved for multifamily, retail, office, and hospitality uses, was sold after the prior owner filed for Chapter 11 reorganization. Concord Wilshire Capital plans to rebrand and develop the site as Main Street at Tuttle Royale, featuring 401 multifamily residences, 426,764 square feet of retail, a 125-room hotel, and an 82,875-square-foot office building.
Spear Street Capital acquired a 10-story office building at 74-76 Eighth Ave. in Manhattan’s West Village for $50.5 million from G4 Capital Partners. The property features 30,000 square feet of office space and ground-floor retail, with Wells Fargo Bank as a retail tenant. The building was previously sold for $18 million in 2019.
Bank of America, PNC, and Wells Fargo continued to reduce their nonperforming commercial real estate loan portfolios in Q1, despite economic uncertainty caused by the war with Iran and rising inflation. BofA reported a 44% year-over-year drop in nonperforming commercial loans to $1.2 billion and reduced its reserves for credit losses by $200 million, citing a conservative approach to client selection and portfolio quality. PNC's nonperforming loan portfolio decreased 26% year-over-year to $630 millino, while Wells Fargo saw a 2.6% decline to $3.7 billion, representing 2.8% of its total CRE loans.
Newmark provided a $111.4 million Fannie Mae loan to refinance Abbey Lane Apartments, a 470-unit multifamily property in Danbury, Connecticut. The financing was originated on behalf of the owner, Abacus Capital Group. The property offers a range of amenities including a pool, coworking lounge, and children’s playroom, and features studio to three-bedroom units with modern appliances.
Concord Wilshire Capital acquired a 43-acre development site in Royal Palm Beach, Florida, for $60 million through a bankruptcy sale, ending a nearly two-year legal dispute with previous owner Brian Tuttle. The site, formerly known as Main Street at Tuttle Royale, is planned for a large mixed-use project including 401 apartments, a 125-key hotel, 426,800 square feet of retail, and an 82,900-square-foot office building.
Greystone provided a $49.2 million Fannie Mae loan to refinance SoNo Central, a 150-unit apartment building in Norwalk, Connecticut. The property includes residential units and 12 commercial spaces.
JLL Capital Markets facilitated the sale of 8000 Baymeadows Way, a 458,617-square-foot office campus in Jacksonville’s Butler/Baymeadows submarket. The buyer, Orlando-based Foundry Commercial, plans to redevelop the five-building property, which previously served as an office campus. The identities of the seller and the sales price were not disclosed.
Linear Retail Properties acquired Needham Center Shoppes, a fully leased neighborhood retail property in Needham, Massachusetts, for $7 million. The single-story center totals approximately 11,330 square feet and occupies a prominent location near the town common, municipal parking, and the MBTA commuter rail station. The property features a mix of service-oriented and dining tenants, including a bank, wine shop, Japanese restaurant, bagel shop, beauty services, and an educational center.
Colliers has brokered the sale of a 14,000-square-foot historic building at 46-52 West Broad St. in Bethlehem, Pennsylvania. The property, originally built in 1925 for Lehigh Valley National Bank, was purchased by private investor Rocco Ayavoz, who plans to reposition it as a retail, restaurant, and entertainment destination. Financial details weren't disclosed.
Marcus & Millichap brokered the $8.4 million sale of a 17,400-square-foot retail center at 1690 Jeremiah St. in Middleburg, Florida, within the Clay Town Center mixed-use development. The property, built in 2025 on 3.2 acres, is fully leased to eight tenants, including Mattress Warehouse, Firehouse Subs, Domino’s Pizza and Wingstop. The seller was a Delaware-based LLC, and the buyer is a New York-based LLC.
CBRE brokered the sale of Casselberry Square, a 96,946-square-foot fully leased shopping center in Casselberry, Florida, to an affiliate of Present Equity, a value-add retail and industrial investment firm. The transaction included two vacant outparcels.CBRE and Maury L Carter & Associates represented the seller. Financial details weren't disclosed.
Aaron Butler, head of Avenue Real Estate Partners, acquired a vacant quarter-acre site at 500 Lincoln Road, Miami Beach, for $8.4 million from the Miami Beach Community Church. The site is approved for a two-story, 20,000-square-foot commercial project with a rooftop terrace, designed by Touzet Studio. The purchasing entity, 500 Lincoln Road Property Holding, is affiliated with Lincoln Rd Partners, which includes Butler, Noble 33 co-founder Michael Tanha, and attorney Jason Brooks. Noble 33 will lease the second level and rooftop for its Mēdüzā Mediterranïa restaurant, while a retailer will occupy the ground floor.
Eastman, a New Jersey-based owner-operator, recapitalized The Eisenhower, a 385,000-square-foot office complex in Livingston. The recapitalization involved $24.2 million in financing from Ladder Capital and approximately $14 million in additional equity. The Eisenhower, situated on a 24-acre site, features amenities such as a conference center with a 200-seat auditorium, a full-service cafeteria and a fitness center. Cushman & Wakefield advised Eastman on the transaction.
Merritt Properties acquired the 46,000-square-foot Beach Commerce Center in Jacksonville, further expanding its portfolio of light industrial properties in the region. This acquisition adds to their existing developments at Gate Parkway, Imeson Landing, and Oakleaf.
Stone City Capital will develop Seamist Commons, a 68-acre mixed-use project in Summerville, South Carolina, near Charleston. The development will feature retail and restaurant space, office space, residential units, a 28-acre forest preserve, and infrastructure for golf carts and electric vehicles. Outparcels will be available for build-to-suit and ground-lease tenants.
National Development received approval from the Town of Hudson, Massachusetts, for a 950,000-square-foot industrial conversion project at 75 Reed Rd., a 148-acre site formerly occupied by Intel. National Development acquired the property in late 2023 and plans to support advanced manufacturing, warehouse, and logistics uses. Construction will begin once an occupant is secured.
A Cushman & Wakefield report finds that nearly a quarter of Manhattan office relocations from 2023 to 2025 moved into the Penn Station submarket, with most tenants expanding their space. Over 3.5 million square feet of relocations flowed into Penn Station, mainly from Midtown, and financial services firms accounted for 24% of the new space. The Penn Station area has seen significant commercial real estate development, with 14 office buildings added or renovated in the past decade, increasing inventory by 124.2% and maintaining a low vacancy rate of 6.5% compared to Manhattan's overall 19.9%.
A Delray Beach real estate firm and its global investment partner completed an off-market acquisition of two Orlando industrial properties after more than a year of negotiations. This transaction positions the partners for a broader national expansion, indicating momentum in commercial real estate finance and industrial asset acquisition.
Slate Property Group acquired the former Radisson Hotel New York Wall Street at 52 William St. in the Financial District for $95 million. The 20-story, 119,467-square-foot building, previously used as a migrant shelter, has now been leased to Highland Park Community Development Corporation, a nonprofit focused on homelessness. The lease may extend the building's use as a shelter.
Ridgecut Road acquired a nearly eight-acre industrial outdoor storage property at 200 St. Nicholas Ave. in South Plainfield, New Jersey, for $37 million. The site includes two buildings totaling 30,069 square feet and is located near Interstate 287. The property comes with a short-term license agreement with the seller, JESCO Equipment. This purchase adds to Ridgecut Road’s portfolio of low-coverage industrial assets, reflecting continued competition for infill industrial outdoor storage sites in New Jersey.
Sovereign Partners and HudsonPoint Capital are under contract to acquire the 40-story Midtown office skyscraper at 575 Fifth Ave. from Beacon Capital Partners and MetLife. The 544,000-square-foot building, marketed by Eastdil Secured with a target price of at least $400 million, is believed to be selling for closer to $385 million, the price MetLife paid in 2005. The property was divided into four condominium units in 2008, with MetLife selling a 50% stake to Beacon in 2015. The office portion covers about 504,000 square feet, while retail units account for roughly 40,000 square feet.
Blackstone secured a $154 million refinancing for the 2 and 3 MiamiCentral office complex in Downtown Miami, where it also maintains its own office. The financing was provided by CIM Group’s private credit fund, with Eastdil Secured brokering the transaction. The two-building, 339,000-square-foot property, purchased by Blackstone for $230 million in 2021, includes significant office and retail space and is connected to the MiamiCentral station.
Brookfield Properties sold the Deerfield Corporate Park, a four-building industrial campus in Deerfield Beach, Broward County, Florida, for $77.6 million to Lincoln Property Company. The sale price is more than double Brookfield's 2019 purchase price of $36.3 million, reflecting significant appreciation likely driven by regional population growth and the rise of e-commerce. The 247,079-square-foot property sits on 14.7 acres and the acquisition was financed with a $52.3 million loan from Walton Street Capital.
JLL arranged a $19 million loan from City National Bank to refinance the Edifice Portfolio, which consists of five renovated multifamily buildings totaling 42 units in Brooklyn. The properties are located at 431-433 Wythe Ave. and 313 S. 4th St. in Williamsburg, as well as 19-21 Columbia Place in Brooklyn Heights. The loan was secured on behalf of Edifice Real Estate Partners.
Private investors purchased an eight-acre industrial property at 51 Tannery Rd. in Somerville for $14.75 million, in a transaction arranged by The Boniakowski Commercial Real Estate Group. The site, which includes a 22,000-square-foot warehouse and is approved for outdoor storage, is fully occupied by multiple tenants.
DHL Supply Chain will develop a 1.2 million-square-foot industrial facility in Annville, Pennsylvania, within the Clear Springs Logistics Park. The project will feature 40-foot clear heights, 120 dock doors, four drive-in doors, and extensive parking for cars and trailers. Construction is expected to be completed before the end of the year.
RJ Capital Holdings and Top Rock Holdings are in contract to purchase the Forest Hills Jewish Center (FHJC) at 106-06 Queens Blvd. in Forest Hills, Queens, for $39 million. The sale, authorized by the New York State Attorney General's Charities Bureau, involves a roughly 55,000-square-foot property and is being executed through 106QB Development, an entity linked to RJ Capital and Top Rock principals. The FHJC is also authorized to take out a loan for a new facility.
A 129,000-square-foot office building at 300 Executive Dr. in West Orange, New Jersey, was sold for $17 million. The property, fully leased and renovated with amenities such as a new lobby, fitness center, and tenant lounge, was sold by an LLC. Cushman & Wakefield brokered the deal and arranged acquisition financing for the buyer, Executive Drive W Orange. The building's location near Interstate 280 and the Essex Green Shopping Center, along with its modern amenities and proximity to new luxury housing, contributed to its appeal as a high-performing commercial real estate asset.
Cushman & Wakefield facilitated the $4.5 million sale of a mixed-use development site at 1192 Sussex Turnpike in Randolph, New Jersey. The site is approved for 25 townhomes and a mixed-use building with 4,055 square feet of retail space on the ground floor and 10 apartments above. The seller, Ludiro Inc., was represented by Cushman & Wakefield, and the buyer is OES Properties.
Kurv Industrial acquired the East Pompano Industrial Center, an 818,611-square-foot, five-building industrial park in Broward County, South Florida, from QuadReal Property Group for $220 million. The purchase is part of a $789 million joint venture between Kurv and Canada Pension Plan Investment Board. At the time of sale, the property was 50% leased.
A REIT acquired an Amazon warehouse for $155 million. The property is located just five miles from downtown Boston, making it one of the closest distribution centers to the region’s population hub.
Foundry Commercial brokered the $24.5 million sale of The Exchange, a 42,800-square-foot mixed-use building in downtown Winter Garden, Florida. The property, delivered in 2021 and fully leased to office tenants and retailers, was acquired by private investor James Larweth.
Quinlan Development Group secured $23.5 million in acquisition financing from Mavik Capital for a planned 23-story multifamily tower at 130 Saint Felix St., Fort Greene, Brooklyn. The financing covers acquisition and pre-development costs. Quinlan acquired the vacant lot from Gotham Organization, which previously faced neighborhood opposition for a condo project at the site. The project will include 149 apartments and ground-floor retail, with a portion designated as affordable housing, qualifying for a 485x tax abatement.
Atlantic Capital Partners brokered the $10 million sale of two office buildings totaling 61,888 square feet in Wilmington, Massachusetts, a northern suburb of Boston. The properties at 226 and 230 Lowell St. are 40,899 and 20,989 square feet, respectively, and offer potential for additional uses. Both the seller and buyer were undisclosed.
Crossroads Cos. and Wafra acquired the 348,763-square-foot Interstate Shopping Center in Ramsey, Bergen County, New Jersey, under an equity partnership arranged by CBRE. The property consists of seven buildings with 42 retail units. CBRE’s National Retail Partners team facilitated the partnership, highlighting the competitive process and Wafra’s selection as the preferred equity partner.