News/Events
Nscale Closes on $900M Credit Facility to Accelerate Data Center Build-Out
Artificial intelligence infrastructure startup Nscale Global Holdings has closed a $900-million revolving credit facility to accelerate its AI data center build-out and capital deployment across the U.S., Europe and Asia Pacific. The facility was syndicated across a group of banks including J.P. Morgan, Goldman Sachs, Morgan Stanley, MUFG, RBC Capital Markets, Bank of America, Crédit…
Avison Young Had Assets Frozen By Bank Over Unpaid Taxes
A judge has since unfrozen the brokerage’s accounts so that its companies can pay the millions of pounds it owes the government in taxes.
Izo Capital Lends $26M on Wyoming Apartments Near Jackson Hole
Sundance Properties has sealed $25.6 million of construction financing to bring a multifamily development in Alpine, Wyo., across the finish line, Commercial Observer has learned. Izo Capital supplied the 24-month senior construction loan to fund the completion of Phase 1 of the developer’s planned the Flats at Alpine Junction project comprising 64 units. The debt…
PwC Commits to 350K SF at Canary Wharf Complex
Accounting giant PwC has agreed to lease approximately 350,000 square feet at One Eden, a redevelopment of an office property currently known as 33 Canada Square at CWG’s Canary Wharf mixed-use complex in London. Currently occupied by Citigroup’s EMEA headquarters, the space will be redeveloped in advance of PwC’s arrival. The new space will address…
Starwood Capital Closes $10.2B Opportunistic Fund
Starwood Capital Group has held the final closing of Starwood Distressed Opportunity Fund XIII, raising more than $10.2 billion in capital commitments from over 300 new and existing investors across approximately 20 countries. SOF XIII will focus primarily on the U.S. and Europe, with selective exposure to Asia Pacific, targeting residential, data center, industrial, and…
Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ
With OpenAI confirming a new Dublin headquarters for Europe, AI companies are increasingly influencing the city's commercial real estate market.
CW Realty Closes Deal to Buy 55 Smith Street in Downtown Brooklyn for $58M
CW Realty Group closed on a deal to acquire a parking facility in Downtown Brooklyn, Commercial Observer has learned. Cheskie Weisz’ CW Realty entered into a contract to purchase 55 Smith Street in December from New Jersey-based firm Edison Properties, Crain’s New York Business reported at the time. The sale closed on Friday and its…
Kimco Buys Two Broward Retail Centers for $109M
Kimco Realty, one of the biggest owners of grocery-anchored retail centers in the country, has acquired two more in Broward County for a combined $109 million from KPR Centers, property records show. In the largest transaction, the Jericho, N.Y.-based REIT paid $56 million for Sunshine Plaza, a 245,744-square-foot property between 4017 and 4299 West Commercial…
USMCA Renewal Uncertainty Weighs on Cross-Border Logistics
A major long-term headwind faces the North American industrial sector as the U.S.-Mexico-Canada Trade Agreement (USMCA) is poised to miss its initial July 1 renewal deadline, Yardi Systems’ CommercialCafe reported. Although missing the review date doesn’t immediately terminate the pact, it shifts the deal into a rolling annual review process. “As such, this transition introduces…
