Office
Sabal Financial Acquires $158M CRE Loan Portfolio
Through the FDIC’s Small Investor Program, Sabal Financial Group has acquired a $158 million portfolio of performing and non-performing commercial real estate loans from FirsTier Bank of Louisville, Colo.
Empire State Building Turns (LEED) Gold
After receiving its Energy Star certification in July, the second consecutive year of the distinction, the Empire State Building was certified as LEED Gold earlier this week, making it the tallest building in the country to receive the certification.
Brookfield Office Properties Spends $150M for 3 Bethesda Metro Center
The 17-story, 368,400-square-foot 3 Bethesda Metro Center has changed hands, with Brookfield Office Properties spending $150.1 million to purchase it from Meridian Group.
TIAA-CREF Buys Boston’s 33 Arch St. from AREA Capital
The 33-story, Class A office tower at Boston’s 33 Arch St. in the Financial District just moved off the books of AREA Property Partners and its partner, Ivanhoé Cambridge, and into the rolls of TIAA-CREF.
Hudson Pacific Grabs Two Office Buildings in San Francisco’s Booming SoMa Submarket
Hudson Pacific Properties has acquired two office buildings — 625 Second St. and 275 Brannan St. — totaling 187,000 square feet in San Francisco’s SoMa district for an aggregate $90.1 million.
Sutton, SL Green JV Nabs 49 KSF in Times Square for $136.6M
After securing rights to the fee interest in 1552 Broadway in Manhattan’s Midtown market earlier this year, a joint venture of SL Green Realty Corp. and Jeff Sutton announced that it has entered into a 70-year leasehold at the adjacent 1560 Broadway for $136.6 million.
ProLogis Pockets $65.6M on Sale of Korea Assets
ProLogis Inc. has sold eight wholly-owned assets and its interest in the ProLogis Korea Fund in a deal that netted the industrial real estate company $65.6 million in proceeds.
Feature: Ten Years Later, What Have We Learned?
Even for famously immodest Manhattan, the 16-acre WTC redevelopment project is an exercise in superlatives. But the significance of the World Trade Center’s redevelopment – and the shattering event that precipitated it a decade ago – extends far beyond the boundaries of the site.
CommonWealth REIT Purchases 600 W. Chicago for $390M
600 W. Chicago Ave. has changed hands – moving from the books of 600 West Chicago Associates L.L.C. and onto the rolls of CommonWealth REIT – for a purchase price of $390 million.
$79M in Financing Arranged for Miami Office Portfolio
Acting on behalf of a subsidiary of Hines REIT, commercial real estate services firm HFF has orchestrated a $79 million deal for the refinancing of Airport Corporate Center, a 1 million-square-foot office portfolio in Miami.