Finance
DivcoWest Closes Fund at $2.25B
DivcoWest Fund VI will primarily target value-add life science, R&D and office assets in gateway markets.
Cushman & Wakefield Brokers North Carolina Storage Sale
Vice Chairman Mike Mele and Executive Managing Director Luke Elliot assisted the seller of the 63,550-square-foot property.
Turnbridge Equities Pays $37M for Durham Office Asset
Knighthead Funding originated a one-year, $21 million loan for the acquisition of Tower at Mutual Plaza.
Columbia Property Trust Recaps $400M San Francisco Asset
The company retains a 55 percent stake in the office tower, while joint venture partner Allianz Real Estate contributed $180 million for a 45 percent ownership interest.
Plymouth Industrial Closes $300M Unsecured Credit Facilities
The unsecured $200 million revolving facility and $100 million term loan have an accordion feature for an additional $200 million of borrowing capacity.
Transwestern Kicks Off $50M New York City-Area Project
The company will renovate a 146,000-square-foot warehouse and build a 151,700-square-foot facility on the 16-acre site.
Luzzatto Lands $49M for Los Angeles Adaptive Reuse Project
The new note will replace old debt and finance the redevelopment of a former Unified Grocers’ dairy plant.
Cushman & Wakefield Arranges $17M Phoenix Office Sale
The firm assisted both parties in the transaction of the three-building, 100,241-square-foot property.
CMBS Special Servicing Rates Surge: Trepp
Retail- and hospitality-secured CMBS hit record-high levels in September.
UMH Properties Secures New Revolving Credit Facility
The $20 million financing agreement is expandable to $30 million and has a three-year term.