Mid-Atlantic
Citi, Simone Provide NMTC Financing for Metro Center Atrium in the Bronx
Simone and Citi Community Capital, acting in partnership with Monge Capital, provided New Markets Tax Credit financing for the construction of the 370,000-square-foot project which, as home to many healthcare and social services providers, will help fill the gap in medical services in the area.
Harrison Street Completes Largest Self-Storage Portfolio Sale of 2013
Public Storage REIT has acquired a portfolio of 43 self-storage properties totaling 22,500 units in five states from Harrison Street, accounting for the largest self-storage portfolio transaction of 2013 so far.
Trio of Lenders Provide $850M for Tysons Corner Center Refi
Prudential Mortgage Capital, Northwestern Mutual and TIAA-CREF each chipped in $283 million, for a total $850 million, to refinance Tysons Corner Center in metro Washington, D.C.
Sumitomo Relocates, Expands to 98 KSF at 300 Madison Ave. in NYC
Sumitomo Corporation of America went on the hunt for newer, more efficient digs near Grand Central Terminal for the relocation of its North American headquarters in New York City, and it has found just that at 300 Madison Ave.
Associated Estates to Buy 1,600-Unit Apartment Portfolio for $324M
Associated Estates Realty Corp. will add 1,606 residential units to its holdings overnight. The REIT has entered into a definitive agreement with Northwood Ravin to acquire a portfolio of seven existing and under-development apartment assets across three states in the Southeast and Mid-Atlantic for $324 million.
One WTC Launches Build-to-Suit Leasing Program
The Durst Organization, co-developer of One WTC along with the Port Authority of New York and New Jersey, recently launched its pre-build/build-to-suit program, earmarking a total of 94,000 square feet for units ranging in size from 2,000 to 20,000 square feet to accommodate as many as 18 tenants.
HFF Arranges $99M Financing for M-U development in DC
Washington, D.C.’s U Street/North Shaw submarket will see a former plumbing supply company transformed into a 375-unit, Class A, mixed-use development aimed at young professionals.
Tucker Secures $218M in Financing for Phase I of 1 MSF M-U Development in Fort Lee, NJ
A JV of Tucker Development, Ares Management and Kushner Real Estate has secured $218 million in financing for the initial phase of Hudson Lights, a 1 million-square-foot mixed-use redevelopment of an eight-acre site located at the base of the entrance to the George Washington Bridge in the heart of downtown Fort Lee, N.J.
Orbach Buys 33-Building M-F Portfolio in Manhattan for $250M
In a two-part transaction, The Orbach Group has purchased a 33-building, 1,031-unit high-end multi-family portfolio on Manhattan’s Upper West Side for about $250 million.
Clarion Buys ‘Jewel Box’ Boston Building for $54M
One Liberty Square, a 13-story, 157,500-square-foot office building in Boston’s financial district, has been purchased for $54 million by Clarion Partners.