PCCP provided a $130 million senior construction loan for Phase II of the Ballantine, a 501-unit multifamily development in Newark, New Jersey. A joint venture of Bogopa Enterprises and Shorewood Real Estate Group is developing the seven-story project, which will include 400 market-rate apartments, 101 affordable units and a 57,500-square-foot Food Bazaar grocery store. Completion is expected in late 2028.
Bank OZK provided a $92 million construction loan for Ibex at Ridge Hill, a 282-unit multifamily development in Yonkers, New York. The loan is part of a $135 million financing package that includes $43 million of limited partner equity from Eagle Realty Group. Saber-Hightower is developing the 17-story project with Rafferty Real Estate and Eagle Realty, with completion expected in 2028.
Western-Southern Life Insurance Company provided an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte, North Carolina. CBRE arranged the financing for the RK Investors-led development team. The four-building project is part of the Greenway at Piper Glen master-planned development, with initial units scheduled for delivery in March 2028.
GreenOak originated a $52 million loan to refinance AJ Capital Partners’ 180-room Graduate by Hilton Princeton at 10 Chambers Street in Princeton, New Jersey. The financing carries a three-year term with two 12-month extension options.
Tyko Capital provided an $817 million construction loan to Fortune International Group and KAR Properties for a two-tower Faena-branded condominium development on the Miami River. The two 68-story towers will contain 217 units each on a 1.8-acre waterfront site, with completion expected in 2030. The developers have reported more than $500 million in sales to date.
Cohen Brothers Realty secured full project financing for West Palm Point, a $400 million office development under construction in West Palm Beach. Cooper Horowitz arranged the financing for the 23-story, 438,000-square-foot Class AA+ office tower, which will include ground-floor retail and a 1,200-space parking structure. The project is expected to deliver in the first quarter of 2029.
Namdar Realty Group acquired the leasehold of the 11-story, Class B office-and-retail building at 71 Fifth Avenue in Manhattan for $62 million. The property has roughly 90 years remaining on its ground lease and includes tenants such as WeWork and Adyen.
Fortune International Group and KAR Properties secured an $817 million construction loan from Tyko Capital for the planned Faena Residences Miami on the Miami River. The project consists of two 68-story towers with 434 units at 24 Southwest Fourth Street; developers report more than $500 million of presales, and completion is expected in 2030.
Cohen Brothers Realty obtained a $385 million construction loan for its West Palm Beach Point office project, a more than 400,000-square-foot development. Robert Horowitz of Cooper Horowitz arranged the financing; the lender was not disclosed.
Rithm Capital formed a joint venture with a DRA Advisors fund at 1301 Avenue of the Americas, a fully leased, 1.7 million-square-foot Midtown Manhattan office tower. DRA reportedly acquired a 49% interest at a $1.3 billion property valuation, while Rithm retained a 51% stake and continues to operate the 45-story building through its Elecor Properties platform. Tenants include KeyBank, Piper Sandler and Crédit Agricole.
Shorenstein Properties acquired 148 Lafayette Street, a fully leased, roughly 154,000-square-foot Class A office and retail property in Manhattan's SoHo neighborhood, from Tishman Speyer for $132.5 million. Tishman had acquired the property for $105.5 million in 2025. Newmark represented Tishman in the sale.
AVRS Partners acquired an 11% interest in BXP’s planned 343 Madison Avenue office tower in Midtown Manhattan. The 46-story, 930,000-square-foot project is expected to cost approximately $2 billion and be completed in 2029. BXP previously secured a $1.2 billion construction loan led by Wells Fargo, with Bank of America, BNY Mellon and JPMorgan Chase also participating.
Moishe Mana said he sold his Wynwood real estate portfolio in Miami for $1.1 billion. The portfolio consists of Mana’s substantial property holdings in the Wynwood neighborhood, with the transaction tied to plans involving Ken Griffin and Carnegie-related operations in the area.
Lightstone is acquiring a 174-unit multifamily property at 323 W. 96th Street on Manhattan’s Upper West Side from Pinnacle Group for a reported $88 million. JLL arranged acquisition financing from MF1, a subsidiary of Berkshire Residential Investments. The 15-story property totals 136,651 square feet and was built in 2004.
Driftwood Capital, Merrimac Ventures and MV Real Estate Holdings secured a $145 million loan for the Miami Riverside Wharf mixed-use development. The financing is part of a broader wave of capital flowing to South Florida development projects.
Madison Realty Capital provided a $463 million construction debt package to Fortune International Group and Château Group for the St. Regis Residences in Sunny Isles Beach, Florida. The financing will refinance existing Bank OZK debt and fund completion of the development’s 170-unit South Tower. Bank OZK had provided $418 million to the project since 2024.
Morgan Stanley Investment Management acquired a 935,000-square-foot Class A industrial facility in Stafford, Virginia, for $172.1 million. The transaction represents a significant institutional investment in a large-scale industrial asset in the Northern Virginia region.
Faropoint acquired a three-building light-industrial portfolio in Carlstadt, New Jersey, for $44.3 million through its Value Fund IV. The properties total 182,255 square feet and are located within a quarter mile of one another in the Meadowlands industrial submarket.
KKR provided a $95 million, 10-year fixed-rate loan to refinance a newly built 17-story multifamily property at 544 Carroll Street in Brooklyn’s Gowanus neighborhood. JLL arranged the financing for a joint venture of Avery Hall Investments, Bridge Investment Group and Declaration Partners. The loan replaces approximately $71.1 million of prior debt.
Golden East Investor acquired One Boca Place, a 286,890-square-foot office property in Boca Raton, Florida, from Harrison Street and CP Group for $78.88 million. City National Bank of Florida provided the buyer with an $82.1 million construction loan. The four-story property sits on 7.75 acres and currently has approximately 75,900 square feet available for lease.
Sagard Real Estate acquired a 223,977-square-foot distribution facility at 27 Distribution Way in Monmouth Junction, New Jersey, from CenterPoint Properties for $56.9 million. JLL represented CenterPoint in the transaction. The single-tenant industrial property includes 28 loading doors, 225-foot truck courts and parking for 57 trailers and 126 cars.
Endeavor Real Estate Group acquired Carnegie Point, a 108,000-square-foot Class A office building in Charlotte’s SouthPark submarket, from Redline Property Partners for $38.8 million. The five-story property is approximately 92% leased and has undergone a series of recent renovations and amenity upgrades. The transaction marks Endeavor’s first acquisition in Charlotte.
Everly, a 253-unit multifamily community at 421 W. Tremont Avenue in Charlotte’s South End, sold for nearly $93 million in a transaction that closed Oct. 22. The property is a five-story apartment development in one of Charlotte’s major urban submarkets.
Grover Corlew acquired the 21-story 200 East Broward office tower in Downtown Fort Lauderdale from Banyan Street Capital for $69.7 million. The property includes 235,211 square feet of office space and is 75% occupied. Grover Corlew plans to invest approximately $20 million over the next two years in upgrades including an amenity deck, fitness center and conference facilities.
Paul Profeta sold a 685,000-square-foot industrial campus occupied by Sherwin-Williams at 400 Winter Haven Boulevard in Winter Haven, Florida, for $133 million. The nearly 40-acre property serves as a major Sherwin-Williams distribution center and is subject to a corporate-guaranteed triple-net lease with a new long-term extension. The property was expanded in 2026 with additional warehouse and office space.
BGO and Banner Property Group acquired an approximately 160,000-square-foot cold-storage facility in Opa-Locka, Florida, for $36 million, or about $237 per square foot. The property is fully leased to Quirch Foods and sits on approximately 12.6 acres in the North Miami submarket. JLL advised the seller and arranged acquisition financing.
ZD Jasper secured a $90.8 million condominium inventory loan from Derby Copeland Capital for VITA, its two-building, 121-unit development at 499 and 501 Ninth Avenue in Manhattan’s Hell’s Kitchen neighborhood. The financing, secured by 85 units, will help repay a $117.5 million construction loan provided by Maxim Capital Group in 2023. Arrow Real Estate Advisors arranged the financing.
David Werner acquired a 49% interest in 605 Third Avenue, a 43-story, 1 million-square-foot office tower in Midtown Manhattan, and will partner with Fisher Brothers on the property. The purchase price was not disclosed; J.P. Morgan Asset Management had marketed the stake at a $425 million valuation in July. Werner plans to retain the property as office space rather than pursue a residential conversion.
Urban Edge Properties acquired Woodfield Plaza, a 142,893-square-foot shopping center in Boca Raton, Florida, from Invesco for $90.3 million. The 14.6-acre property is anchored by Publix and includes tenants such as Walgreens, Toojay’s and Dunkin’. The transaction appears to mark Urban Edge’s first acquisition in South Florida.
Related Ross acquired North 40, a 380,823-square-foot office complex at 5201 Congress Avenue in Boca Raton, Florida, for $64 million from Mainstreet Capital Partners and Partners Group. The two-building, 23-acre property is 74% occupied. The acquisition follows Related Ross’s purchase of the nearby 124-acre BRiC office campus.
Brasswater acquired two Hampton Inn properties in Palm Beach County, Florida, from Hospitality Investors Trust for more than $48 million, backed by $42.2 million in financing from Axonic Capital. The acquisitions include the 164-room Hampton Inn & Suites Boynton Beach for at least $29 million and the 110-room Hampton Inn West Palm Beach Florida Turnpike for more than $19 million.
Pine Tree acquired SITE Centers’ sponsor interest in a 10-property, 3.5 million-square-foot retail portfolio appraised at $644 million in partnership with an international investor. The primarily grocery-anchored portfolio includes properties in the New York metropolitan area, Hartford, Richmond and Raleigh, as well as Wilmington, North Carolina, and five other U.S. markets. The transaction is the largest in Pine Tree’s 31-year history and brings its assets under management to more than $4 billion.
S3 Capital provided $52.5 million in construction financing to a joint venture of Grand Cru Real Estate and Visabe for a 28-unit condominium development at 1527 York Avenue on Manhattan’s Upper East Side. The planned 20-story tower will include one- to five-bedroom residences, with construction expected to begin in early 2027.
Phillips Edison acquired Alafaya Square, a 168,532-square-foot grocery-anchored shopping center at 81 Alafaya Woods Boulevard in Oviedo, Florida, for $69.1 million from a joint venture of MCB Real Estate and an institutional investor. The 21.1-acre property is 96% occupied and anchored by Publix. JLL, which represented the seller, said the transaction was the largest single-asset retail sale in Seminole County history.
Lubert-Adler Partners is marketing its 595,000-square-foot office building at 2400 Market Street in Philadelphia as a $220 million loan on the property approaches its December maturity. The loan moved to special servicing and Lubert-Adler requested an extension to May 2027 to allow additional time to complete a sale, although the firm said it remains current on debt service. The property was 99% occupied as of June, and JPMorgan Chase recently signed a 62,000-square-foot lease.
April Housing secured a $369 million Fannie Mae credit facility for an 11-property affordable housing portfolio across Florida, with Newmark arranging the financing. The interest-only facility includes a $221.4 million fixed-rate draw and a $147.6 million floating-rate draw. April Housing said the financing will support the long-term preservation and affordability of the communities.
A $175 million bond offering backed by the mortgage on 475 Fifth Avenue in Midtown Manhattan was postponed amid weaker credit conditions and interest-rate volatility. The 24-story office tower near Bryant Park was 93.4% occupied as of Sept. 1 and houses Penske Media Corp.’s East Coast headquarters. A $74.12 million AAA-rated tranche had been marketed at a spread of approximately 180 basis points over the benchmark.
ACORE Capital provided a $45.5 million nonrecourse loan to a joint venture of Wharton Properties, Aurora Capital Associates and ACHS Management to refinance 511 Fifth Avenue in Midtown Manhattan. The 18-story office property has undergone redevelopment and recently signed tenants including GE Aerospace, WeWork and Wavestone.
A $175 million bond offering backed by the mortgage on 475 Fifth Avenue in Midtown Manhattan was postponed amid challenging credit-market conditions. The offering included a roughly $74 million AAA-rated tranche marketed at approximately 180 basis points over the benchmark. The 23-story office property was 93.4% occupied as of early September and is anchored by Penske Media Corporation.
A Blackstone multifamily CMBS loan entered special servicing after missing its October maturity, with $517.7 million remaining outstanding, according to Morningstar Credit. The remaining collateral consists of six properties totaling 1,842 units, down from an original 21-property portfolio. Blackstone received a three-month forbearance to pursue sales of the remaining assets.
Kingsley Orchard Realty Limited Partnership sold a 120-unit multifamily portfolio in Somerville, Massachusetts, for $39 million. The portfolio comprises three apartment buildings at 18 Day Street, 49 Dover Street and 123 Orchard Street in the Davis Square neighborhood. Matthews, which represented the seller, said the transaction was the largest multifamily portfolio sale in the Davis Square submarket in the past 15 years.
Affinius Capital provided a $143 million construction loan to Goose Property Management for redevelopment of the former Arrow Linen site at 441-467 Prospect Avenue in Park Slope, Brooklyn. Goose acquired the property for $55 million last month and has filed plans for four 10-story residential buildings totaling more than 396 units, including approximately 100 affordable apartments.
SMBC provided a $107.5 million loan to Ares Real Estate to refinance a nearly 600-unit multifamily portfolio comprising Skye 750 in King of Prussia, Pennsylvania, and Axis 110 in Richardson, Texas. CBRE arranged the portfolio financing through its global institutional debt advisory group.
L&B Realty Advisors acquired Prickett Preserve, a 56,252-square-foot shopping center in Yardley, Pennsylvania, from DeLuca Homes and Envision Land Use for $39 million. The property, completed between 2023 and 2024, was 99% leased at closing and is shadow-anchored by a 90,427-square-foot Wegmans. JLL, which arranged the sale, said the transaction achieved the highest price per square foot for a shopping center sale in the Philadelphia metropolitan area.
STRE Management and Lloyd Jones secured a $50.8 million, five-year fixed-rate CMBS loan to refinance The Vibe, a 194-unit multifamily property in Miami’s Little Havana neighborhood. JLL arranged the financing for the 96.4%-leased property, which also includes 7,625 square feet of fully leased commercial space. The development benefits from a 75% property tax exemption on qualifying workforce housing units under Florida’s Live Local Act.
BridgeCity Capital provided $83.5 million in acquisition and construction financing to CSC Real Estate for the conversion of 136 East 57th Street in Midtown East into 136 luxury apartments. The 20-story, 92,582-square-foot office property was acquired by CSC from Cerco Funding for $10 million in March. The loan closed Oct. 13.
Embrey secured $76.2 million in construction takeout financing for Citron at The Packing District, a 354-unit Class A multifamily community in Orlando, Florida. Newmark arranged the financing for the five-story property, which was completed in 2025. Citron is part of The Packing District, a $700 million, 202-acre mixed-use redevelopment.
Two newly constructed retail properties at Springfield Crossing in Springfield, Massachusetts, sold for $35.3 million. The buildings total 159,344 square feet and are leased to BJ’s Wholesale Club and Hobby Lobby. The assets are part of Springfield Crossing, a 228,756-square-foot, 99%-occupied redevelopment of the former Eastfield Mall.
BXP sold a 10.6% equity interest in its 343 Madison Avenue office development in Midtown Manhattan to AVRS Partners for an undisclosed amount. The 46-story project is valued at approximately $2 billion and is substantially preleased. BXP said it may sell additional minority interests in the development in the future.
Eagle Bank provided a $58.6 million construction loan to Duball for the conversion of 1090 Vermont Avenue NW in Washington, D.C., into 150 apartments with ground-floor retail. Duball and an institutional partner acquired the 160,000-square-foot office building for $23.1 million in July. The developer said debt and equity are secured for the $100 million project, with construction work expected to begin within 45 to 60 days.
Pearlmark provided an $81 million construction loan to Empira Group for Aurelian, a 160-unit multifamily development at 114 Calabria Avenue in Coral Gables, Florida. The 12-story project has broken ground and is expected to be completed in 2028.
Related Urban Development Group secured $129 million in financing for Gallery Lummus Parc, a 257-unit transit-oriented affordable housing development in Downtown Miami. Greystone Real Estate Capital is providing $80 million in construction financing and identified a $60 million Freddie Mac tax-exempt permanent mortgage. The capital stack also includes LIHTC proceeds and state, county and city financing.
Sapir Organization secured $105 million in senior and mezzanine financing from Genesis Credit for its 28-story office building at 261 Madison Avenue in Manhattan. Newmark arranged the financing. Sapir has dropped plans for a residential conversion and instead plans to reposition the property through interior and exterior improvements aimed at attracting tenants and increasing rents.
Lake Forest Bank & Trust provided Sitex Group with a $39.4 million refinancing for its 146,583-square-foot industrial outdoor storage property at 58-80 Borden Avenue in Maspeth, Queens. JLL arranged the financing. Sitex acquired the property for $50 million in 2021, and part of the site is leased to the New York City Fire Department under a 20-year lease.
ACORE Capital provided $216 million in bridge financing to refinance 568 Broadway, a 390,745-square-foot mixed-use property in Manhattan’s SoHo neighborhood. Walker & Dunlop arranged the financing for owners Aurora Capital, Allied Partners and A&H Acquisitions. The 12-story property includes approximately 70,870 square feet of fully leased retail space, with office tenants including Zocdoc, The Farmer’s Dog and Milk Makeup.
Barings provided a $463 million floating-rate bridge loan to refinance construction debt on Thompson Thrift’s eight-property multifamily portfolio, with JLL arranging the financing. Six of the properties are in Florida and total 1,828 units across Orlando, Pensacola, Vero Beach, Rockledge and the North Port-Sarasota-Bradenton market. The eight properties were delivered in phases during 2025 and 2026.
Madison Realty Capital provided a $40 million acquisition and predevelopment loan for Jemal Real Estate Strategies and DivcoWest’s planned conversion of 1255 23rd Street NW in Washington, D.C. The joint venture plans to convert the 342,000-square-foot office building into approximately 323 apartments, including up to 36 affordable units, while retaining 22,000 square feet of ground-floor retail. DivcoWest, the existing owner, will retain an equity stake in the project.
Asana Partners acquired Shops at Somerset Square, a 115,000-square-foot retail and office center in Glastonbury, Connecticut, from Poag Shopping Centers for $29.5 million. The 13.6-acre property is 84% leased and includes retail, restaurant and office space. Poag acquired the center for $30.07 million in 2022 and added several tenants during its ownership.
Wilder and J.P. Morgan Asset Management acquired The Marketplace at Huntingdon Valley, a 257,000-square-foot community shopping center about 20 miles north of Philadelphia, from New Century Associates. The property was 95% occupied at the time of sale and is anchored by Weis Markets. Wilder will oversee leasing and management and plans targeted redevelopment initiatives at the center.
Investcorp acquired eight industrial properties across Woburn, Marlborough, Randolph, Franklin and Westborough, Massachusetts, from Longfellow Real Estate Partners for $76.5 million. Longfellow acquired the properties between 2021 and 2022 for approximately $62.3 million. The portfolio includes assets along the I-495 corridor and in Greater Boston and Central Massachusetts.