Northeast
New Boston Fund Secures Financing for M-F Project
New Boston Fund and Asian Community Development Corp. recently secured city and state funds for the construction of a $130 million, 345-unit mixed-income multi-family property in Boston’s Chinatown.
Jersey City Office Tower Commands Record $378M for Brookfield
Multi-Employer Property Trust, a national real estate equity fund, raises its profile in the metropolitan New York City market.
GGP Reaches Refinancing Goals with $966M of New Mortgages
The four most recent transactions bring GGP’s refinancings to $3.9 billion for the year.
Africa Israel Sells Manhattan’s Clock Tower Building for $165 Million
The sale brings down the curtain on Africa Israel’s plan to convert the 267,000-square-foot property into high-end condominiums.
Philadelphia’s High-Rise Drought Eased by 34-Story Apartment Project
The $104 million project would be the first high-rise in any property category to get under way in the city since the 2008 opening of Comcast Center.
Faneuil Hall Marketplace, 2 Other Properties Fetch $280M for GGP
Taken together, the sales of the three properties remove $95 million in mortgage debt from the retail REIT’s balance sheet, the company said.
Savanna, Feil’s $137M JV in Midtown NYC
Savanna and the Feil Organization have together acquired the 375,000-square-foot building known as 21 Penn Plaza — also known by the address of 360 W. 31st St. — for $137 million.
Cushman Hires Five-Person Brokerage Firm in New Jersey
Cushman & Wakefield has snapped up a five-person office-brokerage team from Jones Lang LaSalle to help bolster its foothold in Central New Jersey. Paul Giannone will serve as executive vice president and will lead the group.
Downtown Renaissance: The World Trade Center Anchors a Thriving Redevelopment Scene
As Manhattan’s biggest redevelopment project in decades, the new World Trade Center towers are the flagships of the Downtown revitalization trend that started in the early years following the terrorist attacks. An update on redevelopment progress in Lower Manhattan.
Taconic Closes $220M Fund for CRE Assets in NYC
New York-based Taconic Investment Partners has closed on Taconic New York City Investment Fund L.P., an investment fund with $220 million in committed equity to acquire commercial properties in the NYC area.