Northeast
New York REIT to Sell NYC Office Tower for $255M
The agreement to sell the 345,000-square-foot building at 333 W. 34th St. to Brookfield marks yet another step forward in the REIT’s plan of liquidation.
Boston-Area Office Portfolio Lands $23M Refi
Working on behalf of KS Partners, Washington Trust secured $22.5 million in financing for a three-building flex/office portfolio in Newton, Mass.
Kronos HQ in MA Trades for $12M
The property is situated along the busy Route 129 corridor and will serve as an administrative building for the buyer, Digital Federal Credit Union.
Stark Enterprises Enters NYC Market
In a joint venture with Sun Equity Partners, the firm purchased an asset leased long-term to Con Ed New York for $98 million.
Brandywine Breaks Ground on $3.5B Philly Project
The firm will begin construction on the first phase, which will comprise educational facilities, research laboratories, corporate offices and more. Brandywine is partnering with Drexel University on the master-planned project.
NJ Shopping Center Receives $17M Financing
HFF secured the five-year, fixed-rate loan, which is accompanied by a $3.4 million construction line that will be used to fund capital and tenant improvements, as well as leasing commissions.
Apollo Commercial Provides $250M for Manhattan Office Project
The finance REIT’s loan is part of the $479 million construction financing package backing Cove Property Group’s Hudson Commons, a 700,000-square-foot office redevelopment and repositioning endeavor in the Hudson Yards/Penn Station submarket.
New Bronx Hotel Developments Land $18M
Meridian Capital Group arranged a 24-month construction loan featuring full-term, interest-only payments for the development of a Best Western and Sleep Inn hotels.
Kimco Begins $186M Staten Island Redevelopment
A redevelopment of the former Hylan Plaza shopping center—the 460,000-square-foot “The Boulevard”—is scheduled to open in early 2020.
Manhattan Tower Lands $479M Construction Financing
Cove Property Group teamed up with an institutional partner to redevelop Hudson Commons into a 700,000-square-foot trophy office building. HFF arranged the loan through affiliates of Apollo Global Management.