Finance
JV to Redevelop Historic Sunshine Theatre in NYC
A partnership between East End Capital and K Property Group purchased the 29,200-square-foot building for $31.5 million. The historic Houston Street cinema will close in January 2018, and will be transformed into a mixed-use development.
Upcoming Las Vegas Retail Property Snags $38M Financing
Remington Nevada is developing a 25-acre grocery-anchored shopping center at the entrance of Mountains Edge Master Planned community. The property is scheduled to come online in late 2018.
Brooklyn Reuse Project Receives $150M Bridge Loan
Glacier Global Partners and Triangle Assets landed the short-term financing for 10 Jay St., an 1890s building at the entrance of the newly developed 85-acre Brooklyn Bridge Park.
HFF Arranges Financing for First OC Creative Office Campus
The development is located at NWC Armstrong Avenue & Barranca Parkway and is the first office structure to be built within the 1,600-acre Tustin Legacy master-planned project.
Mt. Taylor Manufacturing to Invest $1M in South Valley Expansion
The New Mexico company will receive $100,000 in funds from the Economic Development Department.
Fifth Avenue Tower Lands $200M in Financing
Groundbreaking is scheduled for 2018, three years after Ceruzzi Holdings and SMI USA acquired the New York City development site for $275 million from Thor Equities.
Lingerfelt CommonWealth Debuts in Houston with $50M Buy
The Richmond, Virginia-based firm acquired a 14-story office tower located in the Galleria/Uptown submarket. The asset was 81 percent occupied at the time of the deal.
New Hotel Coming to Downtown Baltimore
The historic property—which recently traded for $3 million—landed a $10 million acquisition and renovation loan. In the making since before the Recession, the project at 101 N. Charles St. is slated for completion in 2018.
Natixis Originates $55M Redevelopment Loan for Philadelphia Retail Asset
Sun Equity Partners plans to rebrand the former 429,617-square-foot Cheltenham Square Mall as Greenleaf at Cheltenham. The asset is 60 percent leased.
Columbia, Allianz Form $1.3B Partnership
Each company is contributing one or more unencumbered assets to the JV. Besides New York City and San Francisco, the firms are eyeing Boston and Washington.