TPG Capital in talks to take over Cassidy Turley
[10:02 am, August 20, 2014 | No Comment | ]

Private equity firm TPG Capital is in talks to buy the commercial brokerage Cassidy Turley, according to a report in Crain’s.
It wasn’t clear how much the Texas-based firm was willing to pay or how far the negotiations had come. Crain’s based its report on anonymous sources familiar with the talks.
Founded in 2008, Washington, D.C., based Cassidy Turley is one of the country’s leading real estate brokerage and services firms with more than 3,000 employees. The deal would be the latest in a wave of consolidations in the commercial brokerage industry. In May, UK-based real estate services firm Savills had bought the New York brokerage Studley for $260 million. In 2011, a merger between brokerages Grubb & Ellis and Newmark Knight Frank created Newmark Grubb Knight Frank.

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Construction & Design »

[7:50 am, August 21, 2014 | No Comment | ]

Harlem homes get new lease on life
Governor Andrew M. Cuomo announced the preservation of Philip’s Senior House, a 14-story Mitchell Lama building with 200 units in Central Harlem.
As part of its rehabilitation and modernization, Philip’s Senior House will also remain affordable for low- and moderate-income seniors for forty years.
“Upgrading Mitchell-Lama developments like the Philip’s Senior House is a central part of our strategy to provide better affordable housing options to New Yorkers,” Governor Cuomo said.
“By completely restoring this building, we have provided a more vibrant and …

Deals & Dealmakers »

[7:46 am, August 21, 2014 | No Comment | ]

As a multi-million dollar capital improvement campaign nears completion, leasing activity at the 90,000 s/f Stamford waterfront office building located at 700 Canal Street continues at a brisk pace.
Nine new tenants have moved into the property over the past year, committing to over 36,000 s/f of office space.
The CBRE team of Brian Carcaterra, senior vice president and Michael McCall, vice president oversee the marketing campaign of the asset on behalf of ownership ClearRock Properties, which acquired the property as part of the 270,000 s/f four-building portfolio, which also included 850, …

Photo Gallery »

[4:11 pm, August 20, 2014 | No Comment | ]

REBNY Annual Golf & Tennis Outing at the North Shore Country Club

Brokers Weekly, Photo Gallery »

[2:18 pm, August 20, 2014 | No Comment | ]

Douglas Elliman’s SrokaWorldwide Team chose a Thursday evening cocktail party at Red Stixs Restaurant in Water Mill, to introduce their new development “The Residences at Baha Mar” in the Bahamas. Top Hamptons brokers and their Guests viewed the unique model, and learned more.                                                                                                   …

Photo Gallery »

[1:50 pm, August 20, 2014 | No Comment | ]

GFI Realty Services hosted it annual Client Event on Wednesday, August 6 at Tourneau TimeMachine. With GFI clients, brokers and executives on site, the company celebrated its successes this year and auctioned off a Tourneau watch.

Deals & Dealmakers »

[12:46 pm, August 20, 2014 | No Comment | ]

Cassidy Turley represented Northeast Fulfillment, doing business as Life Extension, a pioneer in the dietary supplement industry, for 68,043 s/f at 150 Fieldcrest Avenue in Edison, NJ.
Associate vice president Jason Barton represented the tenant. The owner, Summit Associates, Inc., was represented in-house.
Life Extension recently moved from its Long Island, NY, location to the Edison, NJ, property to accommodate its growing business.
The industrial property is near major highways including Interstate 287, U.S. Route 1, the New Jersey Turnpike and Garden State Parkway, and it is in close proximity to public transportation …

Deals & Dealmakers »

[12:44 pm, August 20, 2014 | No Comment | ]

CBRE Group Inc. announced the completion of two industrial lease transactions for Home Depot and Ferguson Enterprises, which rank as the third and fourth largest industrial transactions, respectively, in the past three quarters.
The CBRE team of Mindy Lissner and William Waxman, executive vice presidents, led each transaction team.
“As evidenced by these two large deals in the sector, home building and home improvement are on the upswing, particularly in New Jersey,” said Waxman.
“This echoes the national trend in increased construction spending, which marks an economic uptick steered by the residential market.
The …

Finance & Accounting »

[12:28 pm, August 20, 2014 | No Comment | ]

National Cooperative Bank (NCB), a lender to cooperative housing throughout the Tri-State area, originated $41.2 million in new loans during July for 23 New York area properties.
Manhattan continued to be the area with the most activity, with the bank arranging $26.8 million in financing for 14 co-ops.
Edward Howe III, managing director of the NCB New York office, commented, “The Bank continued to experience a steady stream of financing during July, especially in Manhattan, where the majority of the deals were completed.
“Many cooperatives are taking advantage of the still-low interest rates …

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