New York
Renovations Commence to Convert Upstate NY Office into MXU
The Rosenblum Cos. has launched renovation on a former location of a building that was the location of the Troy Record newspaper.… Read more
Castle Lanterra Nabs 220 MF Units in Corpus Christi
Suffern, NY-headquartered Castle Lanterra Properties struck a deal with Cottonwood Residential of Utah to acquire the 220-unit San Marin Apartments… Read more
84% of U.S. Jobs Can’t Keep Up with the Cost of Living
According to a new analysis by Indeed.com’s research group, Hiring Lab, only 16% of jobs paid enough to keep up… Read more
TMG, Fortress Divest Final Champion Station Assets for $122M
San Francisco-based TMG Partners and New York-based Fortress Investment Group sold its remaining three properties at Champion Station in North… Read more
Is Free Rent Signaling a Multifamily Market Peak?
In a sign that the San Francisco market has peaked, offers of free rent are cropping up in landlords’ efforts… Read more
Hudson Yards Developers Obtain $1.2B Loan for MXU Tower
Partner developers Related Cos. and Oxford Properties Group secured $1.2 billion in financing from Children’s Investment Fund to build a… Read more
Under Armour Takes Former FAO Schwarz Locale
Under Armour Inc. has taken down 53,000 square feet at Boston Properties Inc.’s General Motors Building at Fifth Avenue and… Read more
Treasury Expands Shell Company All-Cash Deal Program to CA
The U.S. Treasury Department is expanding a program to California deemed successful in Manhattan and Miami that tracks real estate purchases by shell companies.… Read more
Chinese CRE Investment Overseas Hits $17B in First Half of 2016
Chinese outbound property investment reached $17 billion during the first five months of 2016, according to a report released by… Read more
As Death-Rate Drops, Funeral Homes Sell to Developers
During the past two decades, hundreds of funeral homes across New York City have closed down. People are living longer… Read more
NYC’s Park 7 Obtains $86M to Build Southern Student Housing
Park 7 Group, headquartered in New York City, has received a total of $86 million in construction financing to build… Read more
Carey Watermark Diversifies with UTC Marriott Hotel Acquisition
New York-based REIT Carey Watermark Investors 2 Inc. (CWI 2) acquired the San Diego Marriott La Jolla from an affiliate… Read more
NGKF, CBRE Complete $37M Microsoft Deal
An affiliate of Los Angeles-based Hayman Properties acquired Redmond Woods, a 145,221-square-foot, Microsoft-anchored office complex in Redmond, WA from New… Read more
NYC’s Astoria Cove MF Development On Hold
Astoria Cove, a 2.2-milliion-square-foot waterfront housing development in New York City’s Astoria neighborhood, has hit a financing roadblock. The project,… Read more
Analysts Call for 25% Drop in UK CRE Prices
Though UK funds with exposure to commercial real estate in and around Britain have yet to be open for trading… Read more
Bloomberg Signs 204K-SF Expansion Lease in NYC
Leading business and financial information network Bloomberg LP signed an expansion lease covering 204,442 square feet at 919 Third Ave.… Read more
NGKF Handles $165M Playa Vista Deal
New York-based Rockwood Capital is acquiring Playa Jefferson, a 195,668-square-foot creative office property in Playa Vista, CA from Manhattan Beach,… Read more
Sovran Self-Storage to Launch $22M Rebranding Plan
Sovran Self-Storage Inc. will rebrand its 563 storage facilities from “Uncle Bob’s Self Storage” to “Life Storage.” The move comes… Read more