Keith Loria
SL Green Closes $925M in Financing for Iconic NYC Building
SL Green Realty has arranged $925 million worth of bridge acquisition financing for New York City’s iconic Sony Building at 550 Madison Ave., which was purchased by New York-based developer The Chetrit Group for $1 billion from Sony Corp.
Paladin Realty Forms JV with Brazilian Homebuilder, YOU
Paladin Realty Partners, a real estate investment fund manager focused on Latin America, has formed a new programmatic joint venture with YOU Inc. Incorporadora e Participações S.A. to develop middle-income housing in São Paulo, Brazil.
NAR Sees Growth in Commercial Sector
The NAR released its quarterly commercial real estate forecast and showed that most major commercial real estate sectors are continuing to slowly improve.
PKY Deerwood Closes on $130M Jacksonville Office Portfolio
Parkway Properties affiliate PKY Deerwood has acquired an eight-building, 1 MSF portfolio in Jacksonville from Flagler for $130 million.
Chesapeake Lodging Trust Acquires Hyatt Place New York Midtown South
Chesapeake Lodging Trust has closed on its acquisition of the newly developed, 185-room Hyatt Place New York Midtown South for $76 million.
JDS Development Acquires Murray Hill Lot with $172M in Meridian Financing
JDS Development Group has acquired a 730,426-square-foot development site in New York City’s popular Murray Hill neighborhood from Sheldon Solow for a reported $172 million, with plans to build two multi-family towers on the two-acre vacant lot.
TGM Buys Two-Property M-F Community in Chicago Area for $101M
New York-based multi-family investor TGM Associates has purchased TGM Willowbrook, a two- and three-story garden property, totaling 712 units in 76 buildings, located in Willowbrook, Ill., for $101 million.
myCREOpoint Creates Site to Decrease Risk, Improve Performance for CRE Pros
A new site created by CREOpoint will offer an advanced customizable real time business intelligence hub exclusively for the global commercial real estate industry.
Potential Impact of Sequestration on CRE
Now that the March 1 sequestration deadline has come and gone without any solution to the budget crisis, John Guinee, a REIT analyst with Stifel Nicolaus, is expecting significant rent cuts by major Washington, D.C., office players.
Clarion Partners Sells SF Office Tower for $100M
Clarion Partners has completed the sale of 100 Spear St., a Class A, LEED Gold office tower in the heart of San Francisco’s Central Business District for $100 million.