Deals & Dealmakers »

[11:50 am, July 23, 2014 | No Comment | ]

Sam Zell, chairman of Equity Group Investments, will keynote the second annual EisnerAmper LLP Real Estate Private Equity Summit when it returns to New York City.
The event will be held at the McGraw-Hill Conference Center on October 1 from 8:00 a.m. to 5:00 p.m.
The event showcases the latest industry trends in real estate private equity, with top industry leaders, including a eynote interview with Zell.
Aaron Kaiser, co-head of EisnerAmper’s Real Estate Practice, is enthusiastic about the event. He said, “This year’s speakers and program are exciting in terms of interest …

Finance & Accounting »

[11:49 am, July 23, 2014 | No Comment | ]

Meridian Capital Group negotiated a $45 million loan to refinance the Continental Portfolio consisting of 13 multifamily properties located throughout the Bronx, NY.
The five-year balance sheet loan features a competitive LIBOR-based rate and was provided by a local community bank.
This transaction was negotiated by Meridian Capital Group managing director Tal Bar-Or, and associate Kyle Kite, who are both based in the company’s New York City headquarters.
The Continental Portfolio totals 597 units and includes assets located at 2442 Morris Avenue, 1711 Morris Avenue, 1704 Morris Avenue, 1685 Morris Avenue, 1727-1729 Walton …

Finance & Accounting »

[11:48 am, July 23, 2014 | No Comment | ]

Mark Scott’s Commercial Mortgage Capital (CMC) closed a $94 million permanent loan for a 365,866 s/f office building, dubbed i.Park Norwalk, located at 761 Main Avenue in Norwalk, CT.
“The property boasts a phenomenal roster of long-term, credit tenants,” said Scott, founder and president of Commercial Mortgage Capital. “We were able to secure a favorable rate for our client and have seen a substantial upswing in the market – particularly for well-located office, multifamily and industrial assets. We expect transaction volume to coSAntAinue growing at a favorable pace as we move …

Finance & Accounting »

[11:45 am, July 23, 2014 | No Comment | ]

Cushman & Wakefield served as the exclusive advisor to a joint venture in arranging a $98 million loan secured by 511-514 West 25th Street, a class-A office and retail/gallery property located in New York, NY.
The floating rate financing was provided by a German bank.
511-541 West 25th Street is comprised of three buildings totaling 193,744 rentable square feet of prime office, retail and high-end gallery/showroom space in Manhattan’s uber-chic West Chelsea submarket.
The property is located in the heart of the West Chelsea Historic District, overlooking the High Line and surrounded by …

REBNY Watch »

[11:44 am, July 23, 2014 | No Comment | ]

By Steven Spinola
In a city with more than eight million people, and another million expected by 2040, we need to focus on New York’s transit system and how important it is to our future.
Our trans-Hudson transportation is in dire need of attention.
New York City’s population has almost doubled since the last rail connection under the Hudson was built over 100 years ago, and the population of the counties on the other side of the river has tripled.
More significantly, almost a third of the city’s workforce is now comprised of suburban …

Deals & Dealmakers, Finance & Accounting »

[11:43 am, July 23, 2014 | No Comment | ]

DTZ’s Real Estate Investment Banking Group has been retained to arrange project finance for a three-tower luxury residential project with marina on the river in downtown Fort Lauderdale, Florida.

At six acres, the project sits on the largest undeveloped prime urban infill site in Fort Lauderdale. Marina Lofts will be developed as a three-phase project and will result in 856 luxury condominium and rental units, several restaurants, a dozen retail shops, and a marina with over 200 wet and dry slips.
Total project capitalization for the three phases is approximately $230 million.
According …

Brokers Weekly, Deals & Dealmakers »

[11:26 am, July 23, 2014 | No Comment | ]

EXR Group, a Brooklyn-based real estate brokerage, announced its official opening today, serving Brooklyn’s real estate needs from a flagship office in Williamsburg.
Founded this year by John Le Vine, Mario Faggiano and Sam Rubin, EXR Group’s agents will work with renters, buyers, landlords and commercial clients.
The company is opening with a combined management and agent team of 15, which will work from a 1,400 s/f office at 160 Havemeyer, on the corner of Havemeyer and South 2nd streets.
“With EXR Group, we want to build a brand, an experience that someone …

Deals & Dealmakers »

[11:25 am, July 23, 2014 | No Comment | ]

CBRE Group, Inc. and U.S. Equities Realty, LLC announced that the companies will combine their Chicago area operations.
U.S. Equities Realty leases and manages 17 million square feet of Chicago property, including the Willis Tower (formerly Sears Tower).
“With today’s announcement, we are re-defining excellence in Chicago real estate services,” said Chris Connelly, executive managing director, Chicago Region, CBRE.
“We’re bringing together two of Chicago’s most highly regarded and successful firms that share common values and a passion for outstanding client service. We are thrilled to have U.S. Equities join us, and we …

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