Mid-Atlantic
HUD Announces $621M Deal to Refinance Mortgage Loan for NYC Co-op
Backed by a federal mortgage guaranty program that was extended to a co-operative development for the first time, RiverBay Corp. and Wells Fargo Bank have closed on a $621 million deal to refinance the mortgage at Co-op City in the Bronx.
HFF Closes $107M Sale of Office Portfolio in Boston’s Seaport District
HFF has been involved with another multimillion-dollar deal in Boston’s Seaport District, an up-and-coming area along the South Boston waterfront, with the $107 million sale of a four-property portfolio to DivcoWest Properties.
Equity Residential Partners with AvalonBay on $16B Archstone Purchase
In an SEC filing, AvalonBay estimates the weighted average capitalization rate for the combined Archstone portfolio to be in the high 4 percent range.
New York’s Plaza Hotel New Owner Plans Additional Upgrades
“The seller had finished off a positioning of the property and had just finished off a retail level on the lower level,” Greg Rice, Solid Rock’s president, told Commercial Property Executive .
Renaissance Centro Breaks Ground on 360-Unit Apartment Community in Reston, Va.
Renaissance Centro has begun construction on Parc Reston, a planned 360-unit multi-family property in Reston, Va., which also features two penthouse levels with views to Tysons and the Blue Ridge Mountains.
Boston-Based Sibley Acquires 2 MSF Historic Rochester M-U Property
Sibley Redevelopment L.P., an affiliate of WinnDevelopment, the real estate development arm of WinnCompanies, acquired the Sibley Building, located in the central business district of downtown Rochester, N.Y.
New Tenants Signed at Bronx’s 285 KSF Throggs Neck Shopping Center
The Throggs Neck Shopping Center in the Bronx, N.Y., will not open its doors until early 2014, but already the tenant roster is beginning to fill up with national and local businesses.
Zeckendorf Kicks Off Development of $500M Condo Project Near United Nations
A groundbreaking event has marked the start of 50 United Nations Plaza, an upscale condominium property adjacent to the United Nations headquarters in Manhattan.
Muss Signs FEMA to 200 KSF Lease for Sandy Regional HQ in Queens; IndCor Donates Space to Red Cross
FEMA has leased about 200,000 square feet at Forest Hills Tower in Queens to serve as its New York City headquarters while it helps residents and business owners in the region recover from Superstorm Sandy. At the same time, IndCor Properties donated 126,000 square feet of space to the American Red Cross, located near hard-hit areas.
Tishman Lands 129 KSF Tenant at Boston’s One Federal Street
Tishman Speyer, owner of the 1.1 million-square-foot tower, just signed an agreement with Iron Mountain for the information storage and management company to occupy the space as its headquarters under an 11-year lease agreement.