Investment
McKnight Realty Lands $42M in Pittsburgh Office Refi
HFF secured a first mortgage loan through Starwood Mortgage Capital and a mezzanine loan through Morrison Street Capital for a Class A office tower located in the city’s central business district.
SL Green, RXR to Buy Stake in NYC’s Worldwide Plaza
The joint venture will become co-owner of the 2 million-square-foot mixed-use property with the acquisition of a 48.7 percent interest from New York REIT. The deal values the trophy asset at more than $1.7 billion.
Vista Investment Enters Portland Market
The company purchased the 171,828-square-foot Nimbus Oaks flex/business park, located in Beaverton, Ore., a growing submarket of Portland.
Phillips Edison Expands Holdings With Illinois Retail Buy
The REIT is on a mission to enlarge its grocery-anchored shopping center business, this time with the purchase of a Chicago suburb property anchored by local chain Mariano’s.
Peachtree Hotel Group Grows National Footprint
Snapping up the properties in three separate transactions, the company added nearly 400 guestrooms to its holdings, marking another big step in its national expansion plan.
Joint Venture Invests in SC Redevelopment
The Lowenstein Building is the first of several phases of a rehabilitation program taking place within Knowledge Park, a $200 million mixed-use development.
RAF Pacifica Introduces Creative Office Development
The new ground-up project dubbed ‘lift’ is one of three new developments totaling more than $75 million that the firm has begun constructing in Carlsbad, Calif.
Pennrose Secures $171M for NJ Arts Center
The funds ensure the firm’s continued public-private partnership development of the 450,000-square-foot New Brunswick Performing Arts Center, which will feature mixed-income apartments, office space, and two theater venues.
From Rust to Robust: Revamping Industrial Sites for Community Benefit
Nonprofit entities can revitalize neighborhoods and improve local economies by redeveloping unused real estate, according to Donald F. Smith, Jr., president of the Regional Industrial Development Corporation (RIDC) of Southwestern Pennsylvania.
CBRE Closes $28M Sale of SC Office Tower
The seller invested in a $2 million improvement program including an upgraded 24-hour fitness center, common areas and renovated tenant spaces.