Scott Baltic
Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect’s Newspaper. He earned a master’s in journalism from Northwestern University’s Medill School of Journalism and has a bachelor’s from North Park University.
Vintage NYC Building Scores $430M Refi
The 675,000-square-foot, Class A property was built in 1909 and consists of two contiguous buildings near Union Square, Gramercy Park and Madison Square Park.
Xenia Sells 5-Hotel Portfolio for $163M
The properties, which total 812 guestrooms, are located in Fort Worth, Kansas City, Pittsburgh and Baltimore.
Alexander’s Cashes Out Nearly $200M in Manhattan Refi
The office portion of 731 Lexington Ave. in Manhattan received $500 million in refinancing, which matures in June of 2024.
Parking Asset REITs Plan to Merge
Las Vegas-based MVP REIT Inc. and MVP REIT II Inc. will merge into a wholly owned subsidiary of MVP II. The transaction remains subject to various approvals and conditions.
Downtown Atlanta Trophy Asset Changes Hands
The iconic 100 Peachtree was developed by Equitable Life Insurance Co. in 1969 and designed by Skidmore, Owings & Merrill. The tower is currently 82 percent leased.
China Life Invests $950M in ElmTree Portfolio
The majority of the assets are recently constructed, build-to-suit industrial, office and health-care properties in secondary and tertiary markets.
Phillips Edison REIT to Acquire $1B in Sponsor Assets
The combined company, which is expected to reach a total enterprise value of $4 billion, will own 230 shopping centers in 32 states.
NAIOP Index Tips Upward for First Time in 2 Years
The semi-annual survey indicates that CRE players are optimistic about the conditions of the real estate market, especially when it comes to employment growth and occupancy rates for new projects.
Avera to Develop Rail-Served Industrial Facility in Houston
The 143-acre Bayport Logistics Park will feature 7,000 feet of frontage on a Union Pacific rail line and will eventually comprise three or four buildings.
Condor Hospitality Trust Boosts Acquisition Fund
KeyBanc Capital Markets, BMO Capital Markets and Huntington National Bank were the joint lead arrangers of the additional $60 million to the company’s credit facility.