Business Specialties
Greystone, Bassuk Form JV to Focus on ‘Creative’ M-F Financing
Greystone and The Bassuk Organization, both of New York, have formed a joint venture intended to provide expanded real estate and financial services, including “creative debt and equity financing,” to CRE clients with multi-family assets across the United States.
Orbach Group Acquires Manhattan, Pennsylvania M-F Buildings for $70M
The Orbach Group acquired two portfolios totaling 635 rental apartment units across New York City and Pennsylvania for $70 million, increasing its multi-family holdings to more than 5,000 total units.
IPA Arranges $67M Student Housing Sale in Tucson
Institutional Property Advisors, a multi-family brokerage division of Marcus & Millichap, brokered the sale of The District on 5th Avenue, a new 208-unit student housing community located about one-half mile from the University of Arizona.
Joshua Green Corp. Invests $200M in Urban Renaissance Group
With an investment valued at $200 million, the Joshua Green Corp. has taken its relationship with real estate operating company Urban Renaissance Group L.L.C. to a new level.
Grainger to Use JV to Broaden Funding of $280M German Apartment Portfolio
A joint venture to be formed by Grainger, of Newcastle upon Tyne, England, and Heitman, of Chicago, will invest in a German rental residential portfolio of nearly 3,000 units, currently wholly owned by Grainger.
Economy Watch: Foreclosed Property Discounts, LV Short Sales Down; Consumer Confidence Up
In some positive signs for the market, Zillow reported a reduced discount between the prices at which foreclosed and non-foreclosed residential properties sold in September, while a Las Vegas real estate group found fewer homes selling out of foreclosure and consumer confidence rose in early November.
Oxford Properties to Build $3B M-U Redevelopment Project in Downtown Toronto
Oxford Properties Group, one of Canada’s largest pension funds, has unveiled its proposal for a $3-billion-plus mixed-use project in downtown Toronto.
Emaar Properties Launches Two M-U Projects in Cairo
Developer of the Burj Khalifa, Emaar Properties PJSC has recently launched two ambitious projects: the mixed-use Emaar Square in Uptown Cairo and Boulevardi in Cairo.
NYRR to Purchase 149 KSF NYC Office Tower for $65M
American Realty Capital New York Recovery REIT Inc. has been doing quite a bit of buying over the last couple of months and now it is on the verge of adding a fully leased Manhattan office property to its portfolio.
Hersha Hospitality Closes $400M Senior Unsecured Credit Facility
Just weeks after announcing its acquisition of a new midtown Manhattan hotel for $74 million, Hersha Hospitality Trust has closed on a $400 million senior unsecured credit facility that can expand to $550 million.