DRA Advisors acquired a 49% interest in 1301 Avenue of the Americas, a 45-story, 1.7 million-square-foot office tower in Midtown Manhattan valued at $1.3 billion. Rithm Capital will retain a 51% majority interest and continue operating the fully leased property through Elecor Properties.
Millburn & Company acquired Ascend Waterleigh Village, a 280-unit multifamily community in Winter Garden, Florida, from D.R. Horton. Newmark arranged the sale and secured $45 million in Freddie Mac acquisition financing for the buyer, completing the financing in less than 45 days from execution of the loan application. The Class A property was completed in 2025 in the Horizon West master-planned community. The purchase price was not disclosed.
Innovative Industrial Properties committed $245 million in mezzanine financing to IQHQ affiliates for Phase I of Alewife Park, a 27-acre life sciences campus in Cambridge, Massachusetts. IIP funded approximately $111 million at closing, including proceeds to repay an existing $85 million bridge loan, with the remaining $134 million expected to fund through the fourth quarter of 2027. The loan is expected to yield approximately 15.8%, subject to a 14% floor, and matures in February 2028 with a one-year extension option. Phase I comprises 392,000 square feet and is 78% leased to Lila Sciences.
JLL arranged a $41.1 million construction loan for Benchmark at East Islip, a seniors housing development on Long Island being developed by a joint venture of National Development and an affiliate of Benchmark Senior Living. The project will include 64 assisted living units and 26 memory care apartments totaling 104 licensed beds. The direct lender was not disclosed, and construction is expected to be completed in early 2028.
Ken Griffin completed an all-cash $1.1 billion acquisition of Moishe Mana’s 35-acre real estate portfolio in Miami’s Wynwood neighborhood without outside debt or equity partners. The properties are expected to support Griffin’s broader $3 billion commitment involving Carnegie Mellon University, including $2 billion toward the planned CMU Miami campus. The university commitment includes the value of the acquired real estate.
Lititz Run Partnership acquired the 98,000-square-foot former Morgan Paper Mill in Lititz, Pennsylvania, from Penn Medicine Lancaster General Health. The partnership plans to redevelop the property as The Morgan, a mixed-use project incorporating residential, commercial and hospitality uses. CBRE represented the seller in the transaction. The purchase price was not disclosed.
Madison Realty Capital provided a $127 million construction takeout loan for Arcadian, a newly completed 502-unit multifamily development in Fort Lauderdale, Florida. The financing refinances an $84.5 million construction loan provided by Centennial Bank in 2024 as the property leases up toward stabilization.
Phillips Edison & Company acquired South Shore Commons, a 157,347-square-foot outdoor shopping center at 2965 Veterans Road West on Staten Island, for $57 million from Joyland Management. The sale values the property at approximately $362 per square foot. Joyland previously refinanced the property with $41.8 million of debt in 2023.
Publix Super Markets acquired Airpark Plaza, a 204,740-square-foot shopping center at 5705 Northwest Seventh Street in Miami, for $83.25 million from First Washington Realty. Publix already anchors the three-parcel property, which also includes tenants such as Burlington, TD Bank, First Watch and The UPS Store.
SCALE Lending provided Capodagli Property Company with $67.5 million in construction financing for the 200-unit second phase of Meridia Rahway Brownstones in Rahway, New Jersey. The loan has a 30-month term with two six-month extension options and will repay existing senior debt while funding completion of the five-story development.
Asana Partners acquired The Hills Village Center, a 110,000-square-foot grocery-anchored shopping center at 550 Hills Drive in Bedminster, New Jersey, from Lena Centers, a Longpoint Partners subsidiary. JLL represented the seller in the transaction. The fully leased property is anchored by Kings Food Markets and CVS, with additional tenants including Starbucks, PNC Bank and Peapack Gladstone Bank. The purchase price was not disclosed.
CBL Properties completed two land sales for multifamily development at Harford Mall in Bel Air, Maryland, and Friendly Center in Greensboro, North Carolina. Cohere Development acquired 3.9 acres at Harford Mall for a planned 249-unit residential project, while Hines acquired approximately seven acres at Friendly Center for a planned 270-unit multifamily development. The transactions bring CBL’s year-to-date gross proceeds from land sales to mixed-use developers to more than $30 million.
Stockbridge acquired a 202,976-square-foot industrial facility at 8511 Pepco Place in Upper Marlboro, Maryland, for $56.6 million from TA Realty. The property is fully leased to Harris Co., a mechanical contractor serving the data center industry that also occupies 75,000 square feet at a neighboring property. Cushman & Wakefield represented TA Realty in the transaction.
Northwest Bank provided Luzern Associates with $34.5 million in acquisition financing for its $47.75 million purchase of a three-building industrial campus at Cherry Hill Business Park in Beverly, Massachusetts, from R J Kelly. The portfolio totals approximately 200,000 square feet and is anchored by Medtronic, which occupies roughly 70% of the space.
Horizon Storage Group acquired Jefferson Valley Self Storage, a 405-unit facility about 50 miles north of New York City, from Columbia Pacific Advisors for an undisclosed price. Andover Lending, a joint venture between Andover Properties and TPG Angelo Gordon, provided acquisition financing, while JLL represented the seller. The CubeSmart-operated property totals 55,311 rentable square feet and was 87% occupied at the time of sale.
Trustmark Bank completed a $91.7 million sale-leaseback of 34 branches totaling 222,037 square feet across Mississippi, Florida, Tennessee, Texas and Alabama to funds managed by Blue Owl. Trustmark will continue operating the properties under 15-year absolute triple-net leases with 1.5% annual rent increases. JLL represented Trustmark in the transaction.
MonticelloAM and its affiliates provided $195.7 million in financing for a skilled nursing portfolio totaling more than 900 beds across Virginia and Indiana. An undisclosed borrower will use $184.7 million in bridge and mezzanine loans to refinance three Virginia facilities and acquire four properties in Indiana. The financing also includes an $11 million working capital line to support facility operations.
JLL arranged $75 million in financing from AllianceBernstein for Rechler Equity Partners’ Rechler Business District in Medford, New York. The industrial business park includes a newly constructed, fully leased 140,875-square-foot logistics facility, 9.8 acres of fully leased industrial outdoor storage and approximately 45 acres of shovel-ready development land.
Walker & Dunlop arranged a $238 million refinancing from Torchlight Investors for JSB Capital’s The Landmark South, a 631-unit apartment community at 6055 N.W. 105th Court in Doral, Florida. The financing consists of a floating-rate, interest-only bridge loan. The property was completed in two phases in 2017 and 2021.
Victoria Industrial Properties and Lincoln Equities Group acquired a seven-building industrial and flex portfolio in Northern Virginia’s Dulles Corridor for $75 million from Klein Enterprises. The 308,656-square-foot portfolio spans Sterling, Herndon and Chantilly and was 90% leased at closing to tenants including Honeywell, Inova Health, Artis, Nightwing and Capital Electric. JLL arranged acquisition financing and facilitated an equity investment from InterVest Capital Partners. The transaction marks Victoria Industrial’s first acquisition.
The Shoppes at Paradise Pointe, a 73,416-square-foot shopping center in Fort Walton Beach, Florida, sold for $8.4 million to an undisclosed private investor. TSCG represented seller SITE Centers in the transaction. The property was 82.5% leased at the time of sale and is anchored by Publix, which has occupied the center since 2001. The acquisition also included two outparcels occupied by Waffle House and Beach Liquors.
Link Logistics acquired Delta Industrial Park, an 878,104-square-foot Class A distribution facility at 1500 Delta Drive in Gastonia, North Carolina, from Trinity Capital Advisors. Completed in 2023, the property features 40-foot clear heights, a cross-dock configuration and eight megawatts of power. The acquisition expands Link’s Charlotte-area industrial portfolio, which totals nearly 10 million square feet. CBRE represented the seller; the purchase price was not disclosed.
Rockpoint and Rockpoint Industrial acquired Richmond Trade Center, a 1 million-square-foot industrial campus in Chester, Virginia. Built in 2015, the 119-acre property includes four cross-dock warehouses and one light industrial building. Rockhill, a Rockpoint affiliate, will manage the five-building campus. The seller and purchase price were not disclosed.
A joint venture of Lincoln Equities Group, Victoria Industrial Properties and InterVest Capital Partners acquired a seven-building industrial and flex portfolio totaling 308,656 square feet across Sterling, Herndon and Chantilly, Virginia. JLL arranged a floating-rate acquisition loan from a life insurance company and secured InterVest’s joint venture equity investment. The 40-suite portfolio was 90% occupied at closing by tenants across the industrial, healthcare, technology, defense and consumer services sectors.
An affiliate of GID provided PTM Partners with a $125 million construction loan for Edge Collective II, a planned 330-unit multifamily tower in downtown St. Petersburg, Florida. Berkadia arranged the three-year, floating-rate financing. The project is part of the broader Edge Collective development, whose first phase previously received a $42 million construction loan.
PCCP provided a $66.8 million senior construction loan to a partnership of Sterling Properties and Danbro Properties for Plaza Greene, a 145-unit multifamily development in Fair Lawn, New Jersey. All residences will be age-restricted, with 18 units designated as affordable housing. The project will also include ground-floor retail anchored by a 22,300-square-foot Sprouts Farmers Market.
Greystone arranged a $167 million financing package for Related Urban Development Group’s Gallery at Lummus Parc, a 257-unit, two-tower multifamily project in Miami. The financing includes an $80 million construction loan from Greystone Housing Impact Investors through a joint venture with BlackRock Impact Opportunities Fund, $27.4 million in 4% Low-Income Housing Tax Credits from Greystone Real Estate Capital and a Freddie Mac forward tax-exempt loan. The Freddie Mac financing is intended to repay construction costs alongside LIHTC equity.
BMO Bank provided a $43 million acquisition loan to Dauntless Capital Partners for its purchase of the Arlo Wynwood hotel in Miami. Property records show the nine-story, 217-room hotel traded for at least $44.3 million, although that figure excludes furniture, fixtures and business operations and therefore does not represent the full acquisition price.
Elysee Investments acquired Blue Lagoon Shoppes, a 29,205-square-foot shopping center at 1101 Northwest 57th Avenue in Miami, for $28 million from Keystone Holdings Group. Completed in 2021 on 2.4 acres, the property is fully leased to 13 tenants, including Starbucks, Chipotle, Panera Bread, Jersey Mike’s and BankUnited. Borda Commercial Real Estate represented the buyer, while Avison Young represented the seller.
Charney acquired a vacant 100,000-square-foot commercial building at 143 Roebling Street in Brooklyn’s Williamsburg neighborhood for $20 million from Calmwater Capital. BH3 Fund Advisors provided acquisition financing, while JLL represented the seller. The property was built in 1907 and has previously included retail and residential uses. Charney plans to redevelop the building but has not disclosed specific plans.
Brixmor Property Group and Everview Partners agreed to acquire Slate Grocery REIT in a $2.34 billion transaction covering 115 grocery-anchored shopping centers. Brixmor will directly acquire 23 properties in Florida, Georgia and the Carolinas for $636 million, while a joint venture involving Everview and the Abu Dhabi Investment Authority will acquire the remaining 92 assets for $1.71 billion. The transaction expands Brixmor’s portfolio of open-air, grocery-anchored retail properties.
Hendrie Lane Capital and V12 Investments acquired two flex and R&D properties at 3 and 6 Riverside Drive in Andover, Massachusetts, for $43.5 million from Ciminelli Real Estate Corporation and Gordon Brothers. JLL arranged $28.61 million in acquisition financing from Washington Trust and represented the sellers in the transaction. The properties total 171,764 square feet and are fully leased to four tenants across the medical equipment, musical instrument, aerospace and defense, and analytical instrumentation sectors, with three tenants maintaining their headquarters at the campus.
Slate Property Group and The Carlyle Group filed a foreclosure lawsuit against MG Developer alleging $31.1 million in defaults under a $105 million construction financing package for Metro Parc South, a 347-unit multifamily project in Hialeah, Florida. The lenders allege MG allowed construction liens on the property, missed required reserve deposits and failed to pay 2025 property taxes. The suit followed several default notices and an expired forbearance agreement. MG said it remains in negotiations and is seeking an additional investor to help resolve the dispute.
Seaport Entertainment Group sold 85 South Street in Lower Manhattan for $8.25 million to an affiliate of MD Squared Property Group and Churchwick Partners. The eight-story property includes 21 multifamily units and 5,500 square feet of additional leasable space and had been owned by Seaport Entertainment’s former parent, Howard Hughes Holdings, since 2014. JLL represented Seaport Entertainment in the transaction.
Daryl Hagler acquired the under-construction mixed-use project at 3-50 St. Nicholas Avenue in Ridgewood, Queens, for $75.8 million in cash. Hagler’s CDK assumed $75 million in outstanding mortgages from Madison Realty Capital that remain on the property. The transaction also includes a 99-year ground lease for an accompanying parcel valued at $10.2 million and transfers a project previously tied to Arch Companies and AB Capstone.
Related Ross acquired the 124-acre Boca Raton Innovation Campus, a former IBM facility comprising 1.7 million square feet of office space in Boca Raton, Florida. The campus’s two connected main buildings are more than 90% leased, with quantum computing company D-Wave Quantum among its recent tenants. The acquisition expands Related Ross’s Palm Beach County portfolio, where the firm has more than 3.2 million square feet of existing or under-construction office space in West Palm Beach. The purchase price was not disclosed.
A judge approved the $70 million sale of Philadelphia’s Centre Square office complex to PMC Property Group and developer Dean Adler, down from a $471 million appraisal in 2019. Nightingale Properties and InterVest Capital Partners acquired the two-tower property at 1500 Market Street for $328 million in 2017 and refinanced it with a $368 million CMBS deal in 2020, when it was about 93% leased; occupancy has since fallen to 28%. The buyers are considering converting portions of the complex into a 300-room luxury hotel and as many as 500 apartments. Strategists expect approximately 44 cents on the dollar of recovery on the CMBS, with seven lower-ranking tranches expected to be wiped out and losses potentially reaching securities originally rated AAA.
Berkadia arranged acquisition financing for an Ohio-based private investor’s purchase of MQH Apartments, a 92-unit multifamily community at 100-600 Quail Hill Street in Fuquay-Varina, North Carolina. Berkadia’s Charlotte investment sales team represented seller Mesos Capital LLC, while Director Adam Erickson secured the buyer’s financing. The 11.37-acre property comprises the adjacent Quail Hill and Manchester communities, with 10 buildings constructed in 1996 and 1998. The transaction closed Sept. 18; the purchase price, lender and financing amount were not disclosed.
MassDevelopment signed a letter of intent to sell a 6.6-acre parcel at Adams Circle in Devens, Massachusetts, to Metro West Collaborative Development for a planned 65-unit affordable housing project. The development would serve households earning between 30% and 80% of area median income. The proposal is among the first housing projects to advance following the 2024 removal of Devens’ 282-unit housing cap.
Family Dollar completed a $74.7 million sale-leaseback of 47 retail properties totaling 387,945 square feet across 19 states. An institutional real estate investor acquired the portfolio from FD Retail Properties, with JLL Capital Markets and GA Group Real Estate representing the seller. Family Dollar will remain in the properties under long-term leases. The transaction is the second major Family Dollar portfolio sale arranged by JLL in 2026, following a 46-property transaction earlier this year.
The federal government acquired the Defense Health Agency’s headquarters campus at 7700 Arlington Boulevard in Falls Church, Virginia, for $285 million from GBA Associates. The 44-acre property includes three Class B office buildings totaling approximately 686,000 square feet and a separate parcel with 2,000 parking spaces. The Defense Health Agency has occupied the campus since 2011 under a 15-year lease, and federal officials expect the acquisition to reduce annual leasing costs.
Prestige Companies and MV Real Estate Holdings reacquired 118 units at Atlantica at Dania Beach through a $27.3 million deed in lieu of foreclosure. S2 Dania Property previously acquired the 124-unit rental complex for $36.75 million and obtained a $30 million loan as part of plans to convert the property to condominiums, but sold only six units. The deed-in-lieu transaction returns most of the project to Prestige and its partner at nearly $10 million below the property’s previous sale price.
JLL arranged a joint venture between Tower Management Service and Lakerock for the acquisition of Jasmin Terrace II, a 56-unit apartment building at 412 Whiton Street in Jersey City’s Bergen-Lafayette neighborhood. JLL also secured a $16.5 million, five-year, fixed-rate acquisition loan from RWC Lending for the new partnership. The eight-story property was completed in 2024 and marks Tower Management’s entry into the Jersey City market.
Berkadia arranged a $9.8 million refinancing for a 61,504-square-foot retail center on Crandon Boulevard in Key Biscayne, Florida. A correspondent life insurance company provided the undisclosed owner with a 10-year, fixed-rate loan at a 23% loan-to-value ratio. The two-story property, built in 1990 and owned by the borrower since 1997, was 98.8% leased, with tenants including Northern Trust and T-Mobile.
BrightSpire Capital priced a $960 million commercial real estate CLO backed by interests in 29 first-lien, floating-rate mortgages secured by 38 properties. The company expects to place $844.8 million of investment-grade securities at an 88% initial advance rate and a weighted-average coupon of Term SOFR plus 1.54%, 15 basis points below its earlier 2026 CLO. Multifamily properties represent 94.2% of the collateral. The transaction is scheduled to close Oct. 16, with BrightSpire planning to redeem its BRSP 2024-FL2 securitization on Oct. 19.
PEBB Enterprises and Sagamore Hill Partners secured a $26.8 million refinancing from City National Bank for Soundview Marketplace, a 188,109-square-foot shopping center in Port Washington, New York. The four-building property sits on nearly 11 acres and includes tenants such as Target, T.J. Maxx, Walgreens, Five Below and Ace Hardware. PEBB and Sagamore Hill acquired the center in December 2020.
Inova Health System acquired Willow Oaks Medical Campus in Fairfax, Virginia, from Stockdale Capital Partners for $97.5 million. The two-building property at 8260 and 8280 Willow Oaks Corporate Drive totals approximately 376,000 square feet and is adjacent to Inova’s 923-bed flagship hospital campus. Newmark represented Stockdale Capital Partners in the sale.
Northeast Private Client Group negotiated the $14.3 million sale of the West End Hartford Portfolio, comprising 23 multifamily properties totaling 167 units in Hartford, Connecticut. The properties are concentrated within three blocks of one another in the city’s West End neighborhood. NEPCG’s Taylor Perun and Brad Balletto represented the seller and procured the buyer, both of which remained undisclosed.
Live Oak Bank provided $20.5 million in refinancing for The Meridian at Brandon, a senior living community approximately 15 miles east of Tampa. The 136-unit assisted living and memory care property is owned by a joint venture between Madison Marquette and Meridian Senior Living.
Stewards completed its $90 million acquisition of Envy Pompano Beach, a 214-unit mixed-use multifamily community in Pompano Beach, Florida. The transaction was financed with a $47.7 million property-level loan from LoanCore Capital Credit REIT, representing approximately 53% of the contractual purchase price, along with approximately $42.7 million of contractual rollover equity. BayBridge Real Estate Capital arranged the financing. The property includes two 11-story residential buildings, retail space and a 26-slip marina.
Lamar Cos. and Real Capital Solutions acquired The Shops at Legacy Square, a 93,785-square-foot shopping center in Linden, New Jersey, from Stockbridge Capital Group and Cypress Equities. The property was about 81% leased at the time of the sale. JLL represented the seller and arranged acquisition financing for the buyers.
The Peterson Cos. sold six retail properties at the Compass Creek development in Leesburg, Virginia, for $20.2 million. The portfolio includes two strip centers and four freestanding properties leased to tenants including Starbucks, Chipotle, Popeyes and Valvoline. Atlantic Capital Partners represented Peterson in the transactions.
George Comfort & Sons, Loeb Partners Realty and Jamestown completed a $386 million refinancing of 200 Madison Ave., a 750,000-square-foot office tower in Manhattan’s Grand Central district. New York Life provided the floating-rate loan, which has a three-year initial term and two one-year extension options. Proceeds will repay existing debt and fund leasing at the property.
InterVest Capital Partners secured an $85 million refinancing for 300 Lafayette Street, a seven-story mixed-use property in Manhattan’s SoHo neighborhood. Hudson Bay Capital provided the loan. Microsoft leases the property's entire 63,000-square-foot office component, while roughly 19,000 square feet of retail space is leased to Neko Health, New Era and Goldwin.
JLL Capital Markets arranged joint-venture equity and acquisition financing for Jasmin Terrace II, a newly built 56-unit luxury apartment property at 412 Whiton Street in Jersey City. Tower Management Service formed a partnership with Lakerock to acquire the property, with RWC Lending providing a $16.5 million, five-year fixed-rate acquisition loan. The deal marks Tower’s entry into the Jersey City market.
RREEF Property Trust, a REIT affiliated with Deutsche Bank asset manager DWS, has approved a plan to liquidate approximately $203 million in assets. The planned wind-down is expected to involve dispositions of the REIT’s real-estate holdings. The company has not reported a Chapter 11 filing or other bankruptcy proceeding.
Ares Commercial Real Estate Corporation sold a multi-building office property in North Carolina for $64 million to an unaffiliated buyer on Sept. 18. ACRE had obtained title to the property through a deed in lieu of foreclosure in September 2024 and subsequently classified it as held for sale. The company estimated approximately $61.9 million in net cash proceeds, subject to transaction costs, prorations and customary post-closing adjustments.
TA Realty acquired the 366-unit Polo Lakes multifamily community in Wellington, Florida, from JPMorgan Chase for $105.5 million, or approximately $288,000 per unit. The 19-acre property at 1950 Polo Lake Boulevard was built in 2000 and comprises 27 three-story buildings. The acquisition adds to TA Realty’s recent investment activity in South Florida.
Corebridge Financial provided a $180 million refinancing for Terrazul, a 1,201-bed student-housing property owned by Adam America Real Estate and JW Capital Management in Sweetwater, Florida, near Florida International University. The financing will retire the property’s existing construction loan and provide cash-out proceeds to the ownership joint venture. Completed in 2024, the 22-story property is 98% occupied.
New Empire secured $75 million in construction financing for a nine-story multifamily development at 757 Flatbush Ave. in Brooklyn’s Flatbush neighborhood. Madison Realty Capital provided a $58 million senior loan, while Naftali Credit Partners provided a $17 million mezzanine loan. The project will include 131 residences and 3,348 square feet of commercial space.