Northeast
NJ Logistics Properties Land $52M Financing
The loan comprises a senior mortgage and a line of credit, which will pay off existing debt and facilitate the acquisition of equipment and the construction of an additional warehouse.
Downtown Brooklyn Office Gets $152M Refi
PCCP LLC has funded a senior loan for the recapitalization of a vintage Class A creative office property. The funding will also assist the owners with lease-up efforts.
WeWork Leases 200 KSF in Lower Manhattan
W2O Group and the American Foundation for Suicide Prevention have also committed to occupy a total of more than 85,000 square feet at 199 Water St.
FRP Acquires Baltimore-Area Industrial Park
The company intends to perform capital improvements on the 270,000-square-foot Cranberry Run Business Park in Aberdeen, Md. The $6.3 million purchase is part of the firm’s new development strategy.
Ivy Realty Obtains $41M for NJ Portfolio Purchase
Cushman & Wakefield has arranged the financing, which will also help the borrower rebrand the value-add collection of seven industrial assets.
Avison Young Hires New Principal
Scott Martin has more than 15 years of commercial real estate experience. In the new role, he will help grow the firm’s Greater Philadelphia and New Jersey health-care portfolio.
MOB Portfolio Trades for $45M in NY
Jacobson Properties teamed up with Cushman & Wakefield/Pyramid Brokerage Co. to represent the seller in its disposition of five properties totaling more than 200,000 square feet.
Life After Amazon for Long Island City’s One Court Square
Ratings agency DBRS’s new report forecasts outcomes for the property in light of a looming $315 million loan maturity and the 1 million-square-foot vacancy that the e-commerce giant had planned to fill.
Newly Completed Queens Asset Lands $21M Financing
AB Capstone will use the new mortgage to pay off existing debt, as well as for the asset’s final lease-up and stabilization.
DataRobot Relocates Boston HQ
Starting with September, the company will occupy 56,962 square feet in a premier office tower that Oxford Properties Group owns in the city’s central business district.