News/Events
Barry Sternlicht’s Starwood Scoops Up More Miami-Dade Affordable Housing
Barry Sternlicht’s Starwood Asset Management has bought two more affordable housing properties in Miami-Dade County, following two acquisitions last week, bringing the total to $115.4 million and 570 units. The investment firm purchased the remaining piece of the Lafayette housing complex in Miami’s Little River neighborhood for $27 million, property records show. Called Lafayette Plaza,…
Javits Center Expansion, Tech Upgrades Boosting NYC Hospitality Industry
Five years after the Javits Center underwent a $1.5 billion expansion, the Hudson Yards convention venue is continuing to expand its bandwidth to boost its events business and the adjacent New York City hospitality industry. The 3.3 million-square-foot facility recently underwent a $5 million technology upgrade enabling the Javits Center to become the first convention…
Westphal Company Lands $56M Refi for San Diego Apartments
The Westphal Company has secured $56.1 million in permanent financing for a 354-unit apartment complex in eastern San Diego County. Northmarq arranged the fixed-rate financing through the firm’s Fannie Mae platform. The nonrecourse loan carries a 10-year term with interest-only payments for the full term. Property records identify Westphal Company owns the Wintercrest Village Apartments,…
Fortress Refinances Dania Design Center With $45M After Foreclosure Fight
Fortress Investment Group has refinanced the Design Center of the Americas in Dania Beach, Fla., following a nasty foreclosure fight with its previous owner, New York-based billionaire Charles Cohen. City National Bank of Florida supplied a $45 million loan backing the 780,000-square-foot office and design showroom complex at 1855 Griffin Road, facing the I-95. In…
Keystone Equities Provides $61M Acquisition Debt for IOS Repositioning Site in Newark
KS Group has secured $60.5 million in acquisition debt to buy a 51-acre industrial site in Newark, N.J., that will be repositioned as an industrial outdoor storage property, Commercial Observer can first report. Keystone Equities provided the debt, structured as a senior bridge loan, marking $660 million in capital the firm has deployed since August…
Contractors Feel Squeeze As Prices Rise 7.4%, Backlog Shrinks
Contractors face profit margin pressure amid inflation and tariff challenges.
With Illinois' Senior Population Set To Grow By 40%, Developers Are Facing A Financing Puzzle
Illinois is projecting a 40% growth in the 65-and-over population by 2035. Developers face financing hurdles in creating senior housing solutions.
Brookfield, SWI Form $694M Multifamily Venture, Plan $500M In Sales
Varia US joins Brookfield in a $694M joint venture focusing on high-quality U.S. multifamily properties.
Fort Worth Approves Incentive Deal For Drone Developer Mach Industries
Fort Worth grants $4.5M for Mach Industries' $1.8B defense plant, creating 1,000 jobs.
