Finance
Friedman Secures 2 Loans for Suburban Detroit Office Assets
The financing totaled $26.5 million and features a 10-year term as well as prepayment flexibility. Director Ryan Denomme originated the loans.
PACE of Change
This innovative strategy for funding energy upgrades is progressing in some states while continuing to meet roadblocks in others.
Ardent Cos. Receives $284M for Atlanta Acquisition, Refi
A real estate debt fund associated with Brookfield Asset Management provided the floating-rate loan. An HFF and Cushman & Wakefield team worked on behalf of the borrower.
Denver-Area Office Asset Sells for $18M
The seller, City Office REIT, had purchased the three buildings totaling nearly 200,000 square feet in mid-2014 for more than $25 million.
Northmarq Hires New Miami SVP
Michael Balan brings more than 20 years of experience to his new role, where he will be responsible for assisting local and national clients with the entire capital stack.
Taurus Investment Trades Orlando Office Campus
The $33.5 million sale includes three Class B buildings totaling nearly 200,000 square feet. The seller purchased the asset in 2016 for approximately $17 million.
Indianapolis Office Commands $32M
Tryperion Partners purchased the recently developed, 137,000-square-foot asset, home to Allied Solutions’ headquarters, with Morgan Stanley providing more than $17 million in acquisition financing.
Marriott Secures $40M Loan for Tucson Asset
The 136-key AC Marriott is the first hotel to be built in the city’s downtown since the early 1970s. Walker & Dunlop arranged the financing.
Opportunity Zones Program Takes a Step Forward
Recent IRS hearings aimed to clarify the new vehicle, which holds significant potential for investment in low-income communities across the U.S.
Optimus Properties Acquires LA-Area Office
The one-story structure 20 miles south of central Los Angeles contains more than 60,000 square feet. The county government is the only tenant the building.