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Swansea Townhome Condos Secure Construction LoanEagleBridge Capital has arranged $5,900,000 construction mortgage financing for Phase One of Cedarbrook Homes in Swansea, MA. The mortgage was arranged by EagleBridge senior director Brian Walsh and principal Ted Sidel. The loan was provided by a leading national lender.
S3 Capital Lends $102M for Hell’s Kitchen Office-to-Resi ConversionDeveloper Hershy Silberstein has sealed $102 million of construction financing to execute an office-to-residential conversion of the Press Building in Manhattan’s Hell’s Kitchen, Commercial Observer can first report.
TA Realty Buys Two Staten Island Retail Buildings for $79MBoston-based real estate investment firm TA Realty has purchased two buildings within Staten Island’s Tysens Park Shopping Center, according to property records made public Monday.
Setting the Pace: A Day in the Life of North Bridge’s John LewisJohn Lewis’s young commercial real estate finance career kicked off in 2014, and has already involved multiple roles and market cycles.
Centerbridge Partners Lends $210M on Orange County, Calif., Condos RepositioningDeveloper Crescent Heights has sealed a $210 million condominium inventory loan for the transformation of a newly acquired former multifamily property in Santa Ana, Calif., into Orange County’s tallest residential complex, Commercial Observer has learned.
Design Firm Pink Sparrow Inks 62K-SF Deal in Long Island CityPink Sparrow, an experiential design and fabrication company, has relocated its headquarters to 30-10 Review Avenue in Long Island City, Queens, from its previous space about 1.5 miles away at 24 Greenpoint Avenue in Greenpoint, Brooklyn, Commercial Observer has learned.
Representative imageFred Astaire Dance Studios Leases First Park Slope LocationThe international dance franchise Fred Astaire Dance Studios is waltzing into Brooklyn’s Park Slope neighborhood. The school’s new lease at 508 Fifth Avenue spans 2,500 square feet of ground-floor retail space previously occupied by shoe store Bobby Sportswear.
EVO To Expand Katy Theater to 70K-SF Entertainment CenterEVO Entertainment acquired the former Xscape Movie Theater in the Katy-Fulshear market. The sale of the 55,000-square-foot theater building was brokered by Newcor’s Rob Banzhaf and Alexander Rizzotti, who represented the seller, Patoka Capital.
Newmark Arranges $52M Refi for Cypress Apartment OwnerNewmark arranged a $52 million cash-out refinance for Cantera at Towne Lake, a 366-unit, Class A garden-style multifamily community located in Cypress, Texas, a high-growth suburb northwest of Houston.
Harbor Group Lands $124.6M Refi on Las Colinas Mixed-Use VentureBerkadia arranged a $124.6 million loan on behalf of Harbor Group International (HGI) to refinance Alesio Urban Center, a mixed-use community featuring 908 apartment homes and 55,499 square feet of retail and commercial space in the Las Colinas submarket of Irving, Texas.
REBNY Chooses Jonathan Mechanic as Next ChairThe Real Estate Board of New York (REBNY) has chosen Jonathan Mechanic as its next chair, according to a Tuesday announcement.
Peachtree Lends $44M on Florida Panhandle Multifamily ProjectArris Holdings has sealed $43.5 million of bridge debt for the completion and lease-up of a multifamily community in the Florida Panhandle, Commercial Observer has learned.
Partners, ViaWest Land $122M Refi on Glendale Industrial ParkPartners Group and ViaWest Group secured $122 million in bridge financing for The Base, a newly constructed, seven-building industrial campus totaling 1,182,865 square feet in Glendale, Arizona, through Pacific Life Insurance Company.
Sunstone Hotel Trades San Francisco Property to Blackstone for $279MSunstone Hotel Investors, Inc. said Tuesday it has agreed to sell the 821-key Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate for a gross sale price of $279 million, or approximately $340,000 per key.
Developer Duo Start Work on 7M-SF DFW Warehouse DevelopmentB-29 Investments and Hughes Commercial broke ground at Camp Howze Industrial Rail Park, a 489-acre master-planned industrial development in Gainesville, Texas.
Google Recommits to Hudson Square with 411K-SF Lease RenewalGoogle has renewed its 411,000-square-foot lease at Jack Resnick & Sons’ 315 Hudson St. in the Hudson Square submarket, according to Colliers’ latest report on Manhattan office leasing.
Real Estate Marketing Leader Nancy Packes Dies at 80Real estate marketing strategist Nancy Packes died June 18 at her home in Rhinebeck, N.Y., the family announced Monday. Packes, the founder of real estate consulting firm Nancy Packes Inc. as well as brokerage Feathered Nest, spent 30 years creating a legacy in the industry.
Austin, San Jose Lead in Rebounding Multifamily FundamentalsAustin and San Jose top Apartments.com and CoStar’s latest U.S. Multifamily Momentum Index amid a period of diminishing supply pressures and stabilizing demand.
Miami-Dade County Sells Apartment Site for $10Cipres paid Miami-Dade County $10 for a lot, enabling them to build an 8-story affordable housing project in the Wynwood neighborhood. With land costs so high in Wynwood, an affordable housing project in the neighborhood wouldn’t pencil out, hence the nominal price. The S.
Berkadia Arranges $124.6M Loan for Refinancing of Irving Mixed-Use PropertyIRVING, TEXAS — Berkadia has arranged a $124.6 million loan for the refinancing of Alesio Urban Center, a mixed-use property in Irving’s Las Colinas district that consists of 908 apartments and 55,499 square feet of commercial space.