Northeast
Hersha Hospitality Trust Picks Up Philadelphia's Rittenhouse Hotel
The Rittenhouse Hotel in Philadelphia, the premier 111-room lodging destination on the city’s celebrated Rittenhouse Square, became Hersha Hospitality Trust’s first purchase of the year for the sum of $42 million.
Campus Living Villages Completes University of Delaware Student-Housing Refi
Campus Living Villages, a specialist in student housing, has completed the refinancing of Studio Green, a 704-unit, off-campus residential property near the University of Delaware, through C-III Capital Partners.
NY Fed Spends $208M on Downtown Office Building
The Federal Reserve Bank of New York is picking up a building in which it is the primary leaseholder, purchasing the property at 33 Maiden Lane in Downtown Manhattan for $207.5 million from Merit US Real Estate Fund III L.P.
SL Green Closes Sale of NYC's 390 KSF 10 E. 53rd
SL Green continues its busy year with the $252.5 million purchase of the 390,000-square-foot office tower at 10 E. 53rd St. in Midtown Manhattan. The REIT followed the closing with the sale of a 45 percent interest in the Class A building to Canada Pension Plan Investment Board for $57.4 million.
Silverstone, RWN Purchase Manhattan Multi-Family Building for $53M, Plan Repositioning
Silverstone Property Group and equity partner RWN Real Estate Partners have acquired a 109,000-square-foot, mixed-use residential tower in the Murray Hill submarket of Manhattan for $53 million.
Stonehenge Acquires Mixed-Use NYC Asset for $33.8M
Stonehenge has picked up the building at 364 W. 18th St. in Manhattan from Fortuna Realty Group for $33.8 million.
Hudson, RXR Launch Joint Lending Platform for New York Region
Real estate fund manager Hudson Realty Capital L.L.C. and RXR Realty, a private real estate company, have joined forces to create a commercial real estate lending platform focused on the New York Tri-State market.
Empire State to Become REIT? Plans $1B IPO
Malkin Holdings L.L.C., supervisor of Empire State Building Associates L.L.C., owner of the world-renowned Empire State Building in Manhattan, has gotten everyone’s attention with the revelation — in documents filed with the Securities and Exchange Commission — that ESB Associates plans to become a REIT.
HFF Arranges $85M Refi on 22-Property, 3 MSF Portfolio
An affiliate of a real estate fund managed by Oaktree Capital Management and Cohen Asset Management tapped Holliday Fenoglio Fowler to orchestrate a $85 million refinancing for a 22-property portfolio.
Chinese Firm HNA Property Holding Spends $130M on NYC's Cassa Hotel
HNA Property Holding Group Co. purchased the 165-room Cassa Hotel in midtown Manhattan from Assa Properties for $130 million. The transaction was helped by a $65 million senior loan from PCCP L.L.C.