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.
Real Capital Solutions is under contract to purchase MetroWest, a 10-story, 207,714-square-foot office building at 55 Shuman Blvd. in Naperville, Illinois. The firm has been actively acquiring discounted office properties nationwide, targeting assets with significant markdowns from pre-pandemic values and aiming for long-term recovery.
The City of Boston, Leggat McCall Properties, and Joseph J. Corcoran Company secured $172 million in construction financing for a nine-story, 266-unit mixed-income housing project in Charlestown, Boston. Cottonwood Group provided $122 million in construction debt, while Boston’s Housing Accelerator Fund invested $50 million in equity.
Sage Realty secured a $160 million refinancing loan from Wells Fargo for its 39-story office building at 437 Madison Ave. The loan replaces a larger $185 million previous mortgage on the 846,710-square-foot property, which has undergone recent upgrades and earned LEED Silver certification. The tower remains anchored by a mix of financial and professional tenants, along with ground-floor retail space.
ACRES Capital provided a $96 million construction loan for the development of 70 Westchester, a multifamily project in White Plains. The building will feature upscale unit finishes and a wide range of amenities, including a pool, coworking space and esports lounge. The project is expected to be completed in fall 2027.
Gindi Capital acquired control of two interconnected Downtown Brooklyn commercial properties for a combined $70 million from PIMCO Prime Real Estate through three transactions. The largest portion of the deal included a $40 million purchase of the office building at 25 Elm Place plus a $15 million leasehold, alongside another $15 million for nearby retail condo units at 486-496 Fulton Street. The acquisitions, backed by $50.4 million in financing, expand Gindi’s footprint in a mixed-use complex with major office and retail tenants.
Nuveen acquired the Coral Landings III retail center in Broward County for $46.3 million, marking its return to property buying in South Florida. The 172,526-square-foot open-air complex was financed with a $52.2 million loan and reflects steady value growth since its last sale. The deal aligns with Nuveen’s broader retail investment strategy following recent high-profile asset sales in the region.
SYU Properties sold three retail developments along Myrtle Avenue in Bedford-Stuyvesant for $35.5 million to Secured Management. The properties, originally acquired for $11.4 million in 2009, had been on the market for years following a previously failed deal.
Arrow Real Estate Advisors arranged an $8.8 million construction loan from S3 to fund a new mixed-use project at 1532 Bergen St. in Brooklyn’s Crown Heights. The development will include a six-story building with 25 residential units, two commercial spaces and on-site parking. The financing was structured to support the sponsor’s largest project to date, with planned amenities such as a fitness center and roof terrace.
Welltower acquired The Arbor at Lake Worth, an assisted living facility in Lake Worth, Florida, for $87.2 million. The 366,036-square-foot property includes 377 units and various amenities, and was previously purchased by Focus Healthcare Partners for $64 million two years ago, marking a 36% increase in value. The acquisition follows Welltower's recent securing of a $6.25 billion revolving credit facility and continues its expansion in the assisted living sector.
JLL arranged the $115 million sale of a seven-property, grocery-anchored retail portfolio totaling approximately 558,000 square feet across four states. Medipower acquired the portfolio, which includes Lewandowski Commons in Lyndhurst, New Jersey, and four Atlanta metro properties. Additional assets are located in Myrtle Beach, South Carolina, and Virginia Beach, Virginia. The properties are 99.6% leased and have been institutionally maintained.
LNR Partners sold the commercial office and retail properties at 597-599 Fifth Ave., including the 12-story Scribner Building, for $54 million to Aurora Capital. The sale follows Starwood Property Trust's foreclosure on the asset in January 2024, when it was valued at $84 million. The property previously defaulted on a $105 million commercial mortgage-backed securities loan, with unpaid interest and fees reaching $124 million by 2023.
Empire State Realty Trust (ESRT) agreed to sell its 26-story office building at 250 West 57th St. in Midtown Manhattan to Namdar Realty Group for approximately $280 million. The 540,000-square-foot property, located along Billionaires’ Row, is currently 84% leased. Namdar Realty is acquiring the building at a discount from ESRT’s original $350 million asking price, partnering with Empire Capital. ESRT has invested about $140 million in capital improvements since acquiring the building prior to its 2013 IPO.
JLL arranged a $20.5 million, five-year fixed-rate loan for the refinancing of Stafford Park, a 140,893-square-foot shopping center in Stafford Township, New Jersey. The loan was secured through an undisclosed investment manager on behalf of Walters Group, a regional owner-operator. The center, developed in 2007, is fully leased.
MF1 Capital provided a $170 million loan to Clipper Equity to refinance a 354-unit multifamily apartment project at 2366 Bedford Ave. in Flatbush, Brooklyn. The loan replaces a previous $140 million construction loan from Scale Lending. The project, part of a larger redevelopment of the former Sears building site, benefits from a 35-year tax credit under the former 421a tax abatement program due to its affordable housing component.
MassDevelopment issued $38 million in tax-exempt bond financing for the redevelopment of Lakeside Apartments in Worcester, Massachusetts. The project, led by a partnership between an affiliate of Tremont Development Partners and E3 Development, will construct two buildings with 116 affordable housing units. Of these, 29 units will be for households earning 60% or less of the area median income (AMI), and 87 units will be reserved for those at 30% or less of AMI.
Marcus & Millichap brokered the $11.9 million sale of Coral Reef Plaza, a 29,115-square-foot retail and office center in Palmetto Bay, Florida, located at 15295 and 15315 S. Dixie Highway. The nearly 2-acre property includes 34 suites, featuring a freestanding Taco Bell, a multi-tenant retail strip, and a mixed-use building.
Brax Realty arragand the $10.2 million sale of a multifamily development site on Long Island City, Queens. The buyer and seller were not named. The site at 42-73 and 42-71 Hunter St. can support 24,885 buildable square feet of residential product.
Safely Store acquired a redevelopment site at 3131 Kennedy Blvd. in North Bergen, New Jersey, previously a 73,398-square-foot vacant movie theater built in 1999. The company plans to convert the property into a four-story, 103,000 net rentable square foot, climate-controlled self-storage facility. JLL represented the seller, Madison International Realty, in the transaction.
Related Ross acquired a two-building office campus and a vacant 2.3-acre parcel in Coral Springs, Florida, for $36.5 million. The transaction includes $18.3 million in seller financing from First Data Corporation, which has owned the property since the 1990s. First Data also signed a three-year leaseback to remain on site.
A group of commercial office and retail buildings at 91-105 Canal St. in Manhattan's Chinatown was sold for $21.14 million to an entity named 99-91 Canal Project. The transaction follows a related $1.48 million purchase of 93 Canal St. by an entity at the same Catskill, N.Y. address. The properties, which include storefronts and office space, have multiple partial vacate orders and violations on record. The sellers were four co-owning entities that acquired the block in 2019.
Delshah Capital acquired 34 Berry Street, a 142-unit multifamily property in Williamsburg, Brooklyn, from LCOR for $76 million. The property, built in 2010, includes 80 a mix of studio apartments, 47 one-bedrooms and 15 two-bedroooms. Amenities include a 24-hour attended lobby, a landscaped courtyard, a rooftop terrace and a resident lounge with billiards and ping pong. The deal was brokered by JLL Capital Markets, with acquisition financing of $62.25 million arranged through Ares.
BC Wood Properties acquired the 184,106-square-foot Fairfield Shopping Center in Virginia Beach, Virginia for $34.9 million. The shopping center, anchored by Food Lion and T.J. Maxx and 93% leased at the time of sale, includes tenants such as Truist Bank, Starbucks Coffee and Verizon Wireless. Berkeley Capital Advisors represented the seller, Crosland Southeast and a joint venture partner.
CBRE Investment Management landed an $850.5 million loan from Blackstone to refinance a 17-asset portfolio of Class A industrial facilities across nine major U.S. logistics markets, including Memphis, Atlanta, Dallas-Fort Worth, Columbus, Phoenix, Lehigh Valley, New York, New Jersey and California's Inland Empire. The refinancing will pay off existing debt and provide a partial return of equity to investors. The 9.1 million square foot portfolio is currently 98% leased. The transaction was arranged by CBRE's debt and structured finance team.
Related Ross acquired the Coral Springs office campus of payments processor Fiserv for $36.5 million in a sale-leaseback transaction. The deal includes $18.3 million in seller financing and covers a 21.8-acre site with two office buildings totaling over 200,000 square feet and 2.1 acres of vacant commercial land. Fiserv will remain as a tenant under a lease through March 2029.
Ladder Capital provided a $29.5 million loan to MJ Orbach to refinance a 176,000-square-foot office building at 260 West 39th Street in Midtown Manhattan. The loan was arranged by Arrow Real Estate Advisors. The building, located in the Garment District, is leased to tenants in the fashion, design, creative and professional services sectors, and includes ground-floor retail.
Naftali Credit Partners provided $203 million in financing (including a $167 million senior loan and a $36 million mezzanine loan) to Yellowstone Real Estate Investments for the office-to-residential conversion of a 25-story building at 221 West 41st St. in Midtown Manhattan. The project will feature 25% affordable housing and amenities such as a fitness center, spa, golf simulator, lounge and outdoor terrace. No construction timeline was announced.
SL Green Realty secured $1.6 billion in CMBS debt to refinance One Madison Ave., a fully leased office property in Manhattan. The five-year, fixed-rate loan, led by Wells Fargo Bank with participation from Goldman Sachs, J.P. Morgan, Bank of America, Deutsche Bank, and Crédit Agricole, was priced at a spread of 181 basis points over the U.S. Treasury index, resulting in a 5.81% all-in interest rate. This refinancing replaces a previous $1.25 billion construction facility.
Cousins Properties secured a five-year, $1.2 billion unsecured credit facility, increasing its borrowing capacity by $200 million and replacing its previous facility. The company also amended its $400 million and $100 million unsecured term loans, adding two six-month extension options to each.
JLL secured $136 million in financing for 655 Union, a 193-unit apartment building in Brooklyn's Gowanus neighborhood. The financing package includes a Freddie Mac loan, with CenterSquare Investment Management joining the capital stack. The 15-story property, completed in 2025, features both market-rate and affordable housing units, as well as retail space and a range of amenities. The transaction was managed by JLL representatives for the owner, a partnership between Avery Hall Investments and Gindi Capital.
Rockpoint acquired a six-building industrial portfolio totaling nearly 280,000 square feet in North Carolina. The properties include the recently delivered Garner Commerce Center in Garner, a suburb of Raleigh, and I-77 Commerce Center in Charlotte. The seller and sales price were not disclosed. Rockpoint will manage and operate both properties in partnership with Rockhill Management and Rockpoint Industrial.
Marcus & Millichap announced the sale of Brookgreen Mobile Home Park, an 88-lot manufactured housing community in Conway, South Carolina, for $7.75 million. The property includes park-owned homes, lot rentals, and additional land for future expansion, and is located in one of the fastest-growing regions in the country.
A joint venture between Broad Street Development, PCCP, and One Investment Management secured a $175 million construction loan from Derby Lane Partners for the office-to-residential conversion of 80 Broad St. in Lower Manhattan. The project will transform the 400,000-square-foot office building into a 326-unit apartment complex. Newmark arranged the financing, and the development will utilize New York City’s 467-m office-to-residential tax incentive program.
Blackstone acquired the Pompano Business Center, a four-warehouse industrial campus in Pompano Beach, Florida, for $163.1 million. The 623,256-square-foot property, previously owned by Clarion Partners, sold for more than double its 2016 purchase price, reflecting strong market momentum driven by e-commerce growth and regional population increases.
A single-story building at 225 Worth Ave. in Palm Beach was sold for $43 million. The sale price is more than double what the property sold for in 2021. The seller was 225 Worth Avenue Holdings LLC, a limited-liability company affiliated with a Baltimore-based investment group.
Broad Street Development (BSD) secured approximately $250 million in recapitalization for its office-to-residential conversion at 80 Broad St. in New York's Financial District. The financing includes $175 million in construction debt from Derby Lane Partners, with additional capital from private equity firm PCCP and One Investment Management. Newmark facilitated the construction financing and broader recapitalization. The project will convert a 423,000-square-foot office building into a 336,000-square-foot, 326-unit residential property, featuring amenities such as a fitness studio, restaurant, doctor’s office, co-working space, bike storage, and a pool.
BHI, the U.S. lending arm of Israel-based Bank Hapoalim, provided a $203 million loan to Yellowstone Real Estate Investments for the conversion of the Candler Building at 220 West 42nd St. from office to residential use. The project will create 176 apartments and 18,174 square feet of retail space, with 44 units designated as affordable housing under the 467m program. Naftali Credit Partners contributed an additional $36 million in mezzanine debt.
Madison Realty Capital provided a $121 million condominium inventory loan to Taurasi Group for the newly completed South End Lofts, a 110-unit mixed-use condo development in Hoboken, New Jersey. This follows a previous $97 million construction loan from Madison Realty Capital for the same project. The property features 97,000 square feet of ground-floor retail and a 141,000-square-foot parking garage. Approximately 30% of condo units are pre-sold.
Lightstone, a New York real estate company, acquired the 122,000 square foot biomanufacturing property at 100 Technology Way in Smithfield, Rhode Island for $68 million. The property was previously purchased by The Davis Cos. in 2022 for $18.5 million, reflecting a significant increase in value. The transaction was brokered by Newmark.
David Sedaghati, owner of Ultimate Shoes, sold a 1.92-acre development parcel in Miami’s Wynwood neighborhood for $54 million to Gary Krat of Highland Beach, Florida. The site, located at 2401 Northwest Sixth Ave. and currently holding 64,629 square feet of low-rise commercial buildings, previously received approval for a major redevelopment: two 36-story towers with 1,300 apartments, 1,099 parking spaces, and 21,601 square feet of commercial space.
Institutional Property Advisors, a division of Marcus & Millichap, brokered the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot retail property in Derby, Connecticut, located about eight miles west of New Haven. The center was developed in phases from 1985 to 2023. Both the seller and buyer were not disclosed.
MidPoint Capital Partners launched a $500 million private real estate lending fund, MidPoint Capital LLC, to provide short-term, senior secured bridge loans to real estate investors in high-growth U.S. markets. MidPoint Capital LLC will focus on commercial real estate development and acquisition financing, offering loans with a maximum loan-to-value ratio of 75%. The fund plans to deploy capital across 60 to 100 loans per cycle, with an average loan size of $5 million, and expects total deployment to reach approximately $1.5 billion over 36 months.
Sunday PropTech secured $286 million in financing to acquire and reposition a portfolio of 38 U.S. hotels, with a total capitalization of $375 million. The financing includes $242 million in acquisition debt from Citigroup and $44 million in mezzanine debt from Access Point, a subsidiary of Intervest Capital Partners. The transaction involved the purchase of eight hotels from a Blackstone and Starwood Property Group joint venture for $31 million in Nov. 2025, with the remaining 30 hotels acquired in March. Sunday PropTech will partner with G6 Hospitality to finance, reposition, and rebrand the hotels from Extended Stay America Select Suites to Studio 6 hotels.
JLL Capital Markets arranged a $74.5 million, three-year loan through FS Credit Real Estate Income Trust to refinance the Shops at Stonefield, a 267,294-square-foot shopping center in Charlottesville, Virginia. The loan was secured on behalf of O’Connor Capital Partners. The center is 98% leased and part of a larger 43.5-acre master-planned community that includes a hotel, a Northrop Grumman manufacturing facility, and multiple residential properties.
A partnership between Acram Group and Bulldog Real Estate Partners purchased 88 University Place in Greenwich Village for $46 million. CIM Group took control of 88 University Place in Greenwich Village through a UCC foreclosure sale in 2024 after Arch Companies defaulted on a $70.5 million refinancing. The default followed the loss of the building's major tenant, IBM, during the pandemic.
Ridgecut Road acquired a 5.5-acre industrial service facility and outdoor storage center at 76 National Road in Edison, New Jersey, from K Group for $24.5 million. JLL Capital Markets arranged both the sale and acquisition financing, which was secured through a regional bank. The property features a 25,000-square-foot warehouse and is occupied by FedEx Ground Package System, with the remainder leased to a regional trucking and logistics firm. The site offers direct access to major highways and is positioned within a one-day drive of 244 million consumers.