Mid-Atlantic
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.
Washington Property Closes $75M Permanent Loan for M-F Asset in Suburban DC
Washington Property Co. has landed $75 million in permanent financing for Solaire-Metro, the CRE concern’s 295-unit luxury apartment community in the suburban Washington, D.C., city of Silver Spring, Md.
Kimpton to Redevelop Hotel Monaco in Pittsburgh
Kimpton Hotels & Restaurants is continuing expansion of its boutique hotels throughout the U.S., announcing plans to convert a nine-story, 110-year-old Pittsburgh office building into a Hotel Monaco with JV partner PMC Property Group.
Hackman Capital Wins Bid for Hostess Brands’ Assets
Hackman Capital Partners saw an opportunity to turn Hostess Brands leftovers into an appetizing investment by acquiring the remaining assets of the former national bakery brand at a recent bankruptcy auction for $62.5 million.
Design Unveiled for Trump International Hotel in DC
Trump Hotel Collection has released its plan for the $200 million redevelopment of The Old Post Office in Washington, D.C., which will transform the iconic Pennsylvania Avenue landmark into the Trump International Hotel.