National

Liquid Capital Real Estate Investment basically transferred ownership of a Midtown Atlanta apartment complex to Audubon Capital. Audubon picked up the remaining unpaid balance on the loan. The Crest at Midtown property was sold outright rather than a foreclosure. The Atlanta Business Chronicle reported the Liquid Capital affiliates acquired Crest at Midtown for $85.2 million …

Healthcare Realty picked up a medical office building, an outpatient care facility in Summerville, SC, and a zoned parcel near that could accommodate another medical-related structure in Chapel Hill, NC. The seller was Hammes. The sales price was $58 million. The Summerville properties include Summerville Medical Campus, a nearly 100,000-square-foot, multi-tenant MOB anchored by the …

Cabot, Cabot & Forbes (CC&F) recently topped off The Bolt, a 180,000-square-foot center for innovation along the New Boston Corridor in Woburn, MA.  Representatives from CC&F, John Moriarty & Associates, the U.S. Environmental Protection Agency, Jacobs, and additional project team members, attended the Sept. 4 ceremony.  “The Bolt is positioned to be a new home for …

Boston Mayor Michelle Wu is proposing a $100-million development incentive program to help jumpstart large residential developments her administration says are stalled by high construction and borrowing costs, the Boston Business Journal reported Monday. The program would start with $31 million for four development projects totaling about 1,400 units, including One Mystic, a 408-unit tower in Charlestown’s …

Marcus & Millichap closed the sale of Tremont Street Apartments, a 62-unit multifamily property located in Avalon on Santa Catalina Island. The property sold for $8.64 million or $139,419 per unit. “Affordable housing transactions often require coordination among multiple parties, and this sale was particularly complex due to the ground lease, HUD approval, HAP contract assignment and Freddie Mac loan assumption,” said Arteen Zahiri, associate director investments. “Successfully navigating …

Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings LLC, is seeking to expand its Northern California portfolio as industrial demand shifts across the region. As AI, advanced manufacturing and technology growth tighten available Class A supply in Fremont and San Jose, BLP is targeting well-located, functional, second-generation assets along the I-880 corridor while also investing in …

Essex Realty Group, LLC has been exclusively engaged to market for sale a 20-unit portfolio, a multifamily investment opportunity comprised of five similar buildings in Chicago’s West Town neighborhood. The portfolio features 20 residential apartments, including 15 three-bedroom, two-bathroom units. Principal Jim Darrow and Director Abe Eilian represent the seller in the offering. All five …

ErieView Development announced the closing of financing for the $218 million conversion of Erieview Tower in Cleveland, Ohio. The project will transform the 40-story 1964 landmark into the 210-key W Cleveland hotel, expected to be the first W Hotel in Ohio, and 215 W Apartments offered for rent rather than for sale, a first for …

Rich Properties obtained a $38.55 million refinancing for Tennis Towers Apartments, a 306-unit multifamily community in West Palm Beach that has been owned and operated by Rich Properties for more than 35 years. Berkadia’s Mitch Sinberg, Scott Wadler, Matthew Robbins, Brad Williamson, and Jared Hill arranged the financing on behalf of Rich Properties.  Berkadia originated …

Fox Ridge Capital, Jax Capital Investments and TKF Real Estate Investment sold the Venture Center, a professional and medical office complex located at 3440 Hollywood Boulevard and 200-300 S Park Road in Hollywood, Florida. The final sale price was $69 million. Cushman & Wakefield’s Scott O’Donnell, Dominic Montazemi, Mike Davis, Rick Brugge, Rick Colon, Mike …

Ares Management Corporation has reached the final close of Japan Logistics Development Partners V LP, the latest vintage in its Japan-focused logistics real estate development fund series. Raising ¥612 billion (approximately US$4 billion), including LP equity commitments and GP commitment, JDP V closed at its hard cap and is nearly 50% larger than its predecessor …

The ranks of U.S. and Canadian tech talent skilled in artificial intelligence grew by 45% in the past year, with AI-related roles now accounting for nearly a third of U.S. tech-talent job listings and boosting office-leasing activity in top tech hubs, CBRE reported. The firm’s 13th annual Scoring Tech Talent report highlights the clustering of AI …

Widely considered an endangered property type following the COVID-19 pandemic, malls are now the top-performing sector in the U.S., the Wall Street Journal reported. Mall values are up 13% over the past year, more than double the increase in overall commercial real-estate prices, the WSJ reported, citing Green Street data. “In terms of how we …

The CRE Finance Council (CREFC) said Friday that Paul T. Vanderslice has been named president and CEO, effective Sept. 30. He succeeds Lisa Pendergast, who led CREFC for a decade before retiring last month. Vanderslice will join CREFC from BMO Capital Markets, where he serves as head of CMBS and oversees the origination, securitization, and …

Taconic Partners, The Prusik Group, L+M Development Partners, and BRP Companies, announced today that they signed a lease with the Upper Manhattan Empowerment Zone Development Corporation (UMEZ) for new headquarters space at the Urban League Empowerment Center at 119 W. 125th St. UMEZ will occupy 9,000 square feet on the sixth floor at the mixed-use …

Avison Young said Monday that it represented A-V Services Realty LLC, an electronics and technology company, in the acquisition of a 40,000-square-foot industrial flex property located at 60 E. Rte. 46 in Fairfield, NJ. The acquisition establishes the company’s first owned headquarters, with renovations set to begin in November. A-V Services was represented by Avison …

Sidford Capital sold the onetime western wear superstore off Interstate 25 in Denver. The 4.8-acre site in Greenwood Village, CO, was purchased by Denver’s Grace Chapel for $11.07 million, which hopes to convert the building into a 1,000-seat worship center. Sidford paid $8.3 million for the property in 2019. Built in 1977, the 86,000 square …

As part of its policy to force most first-year students to live on campus, the University of Arizona in Tucson is building a $247 million, on-campus dorm. Called the Catalina, the dorm will house more than 1,300 students in the nine story structure. It is expected to be open to students in the fall of …

The Urban League of Metropolitan Seattle (ULMS) has launched its Reclamation & Restoration Capital Campaign. The initiative will fund a new Empowerment Center at 23rd and Rainier in the Rainier Valley neighborhood, which will serve as the organization’s headquarters and include residential units. The center will be an integrated program hub for residents, bringing together …

Northmarq’s Pacific Northwest retail investment sales team has completed the $8.2 million sale of J.O. Borgen Plaza, a 28,418-square-foot multi-tenant retail center in North Bend, Washington. Northmarq’s Managing Directors Sean Tufts and Kevin Adatto, Senior Associate Joe Dugoni, and Associate Jack Hallberg represented both the seller and buyer in the transaction. Located in the Seattle …

Partners Real Estate has been selected as the exclusive leasing agent for Intercontinental Center, a nine-story, 200,250-square-foot Class A office building at 15600 John F. Kennedy Blvd. in Houston. Vince Strake and Brad Beasley of the firm’s Office Agency Leasing practice will lead the assignment.  Intercontinental Center sits in the North Houston corridor between the …

180 Multifamily Properties sold The Watson, a 248-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. Wes Racht, Nick Fluellen, and Bard Hoover of Marcus & Millichap represented 180 Multifamily and procured the buyer, Brazos Residential. Brazos’s Wyatt Simmons added this, “The Watson was a particularly complex transaction as it …

JLL recently brokered a nearly 1-million-square-foot industrial space deal in Stafford, Virginia. Lanham-based J.E. Richards LLC, an electrical contractor that serves the data center industry, signed a 935,000-square-foot lease for a newly constructed warehouse at 211 Centreport Parkway. JLL’s John Dettleff represented the landlord, Flint Development. NAI Michael’s Michael DiMeglio and Michael Isen represented JE …

Aggregate Real Estate Investors has completed the $58 million acquisition of an eleven-property commercial real estate portfolio in Northern Virginia from Clarke-Hook Corporation. The assets, contained within four separate business communities in Fairfax and Loudoun counties, consist of nearly 320,000 square feet of retail and industrial space, feature more than 90 tenants, and were cumulatively …