News/Events
Feds Raid North Texas-Based Contractor As Part Of HUD Investigation
HUD authorities raided Cadence McShane offices over whistleblower allegations that it exceeded a profit cap on a low-income housing project.
LaSalle IM Buys Stake In 1.5M SF CityWest Office Campus: The Houston Deal Sheet
This week in Houston real estate news, LaSalle Investment takes equity in a prime 1.5M SF Houston office.
KPC Group’s Oceanwide Plaza Bet Started With a Supertall Dream for Manhattan
John Petty, senior partner for KPC Group, had just returned from a site visit at Downtown Los Angeles’ infamous “Graffiti Towers,” the beleaguered mega-development that his firm recently began working to resurrect after it stalled about seven years ago. Like so much of the mixed-use project thus far, cleanup was proving to be tougher than…
Aggregate Buys $58M Northern Virginia Portfolio
The owner of an 11-building industrial and retail portfolio in Northern Virginia has sold the assets for $58 million. Fairfax-based Aggregate Real Estate Investors acquired the 320,000-square-foot portfolio from Clarke-Hook Corporation. The portfolio includes four business complexes in Fairfax and Loudoun counties that combined were 94 percent leased to more than 90 tenants at the…
Dwight Supplies $70M Refi on Newark Multifamily Tower
New Jersey developer Yisroel Berger has sealed a $70 million loan to refinance a newly redeveloped multifamily tower in Newark, N.J., Commercial Observer has learned. A fund managed by Dwight Investment Management (formerly Dwight Mortgage Trust) provided the nonrecourse, interest-only loan for the 216-unit Cosmo 440 project in Newark’s South Ward neighborhood. The development previously received…
Cortland Sells West Palm Rental at Discount for $208M
Multifamily development firm Cortland sold a garden-style rental complex in West Palm Beach, Fla., for $208 million, property records show. The transaction ranks among South Florida’s largest multifamily sales this year, although it marked a discount for the Atlanta-based seller. Fairfield Residential bought the 812-unit asset, called Portofino Place Apartments. The property houses 34 three-story…
Westbridge Realty Group Files Plans for Three 99-Unit Buildings in the Bronx
New York City-based real estate development firm Westbridge Realty Group has filed plans to build three 99-unit residential buildings on a development site in the Bronx’s Soundview neighborhood, the latest example of the trend to cap multifamily projects at 99 units to reap maximum benefit from the city’s 485-x tax incentive. Steven Westreich, president and…
Pilates Studio Sancta Selects Tribeca’s 124 Hudson Street for First Location
A high-end Pilates studio has found its center in Manhattan’s Tribeca neighborhood. Sancta, a studio specializing in reformer Pilates, has inked a 2,350-square-foot lease for its debut location at 124 Hudson Street, Commercial Observer has learned. The studio agreed to a seven-year term with landlord Marx Realty for the ground-floor lease, with an asking rent…
Launch Expeditionary Learning Signs 77K-SF Lease for High School in Sunset Park
A public charter school is leasing space from an independent Catholic order to create a new high school in Sunset Park, Brooklyn. Launch Expeditionary Learning Charter School has signed a 15-year, 77,000-square-foot lease with Redemptorist Fathers of New York at 5902 Sixth Avenue, where it will begin growing its student body in fall of 2027,…
