News/Events
NYC Taxi and Limousine Commission Takes 39K SF at AmTrustRE’s 250 Broadway
This TLC wasn’t exactly chasing waterfalls, just a new office. The New York City Taxi and Limousine Commission is relocating to AmTrustRE’s 250 Broadway across the street from City Hall Park in Manhattan’s Financial District, the property owner announced Thursday. The TLC is relocating its headquarters from another FiDi office at 33 Beaver Street and…
AvalonBay Communities, Equity Residential Merger Produces Vivmark Residential
A new company brings a new name. Two months after multifamily giants AvalonBay Communities and Equity Residential merged to form one of the country’s largest real estate companies — the total enterprise value is calculated at $71 billion — the two firms announced Friday that their new company will be called Vivmark Residential. The new…
AutoCanada Sells Lincolnwood Toyota Dealership
AutoCanada Inc. has completed the sale of Toyota of Lincolnwood in Lincolnwood, Illinois, for approximately $40.1 million in cash, excluding inventory and net working capital. The dealership was part of the company’s U.S. operations, which were classified as discontinued operations at the end of 2024, and generated a net loss of $103.4 million in 2024.…
Goldman Sachs Group Deploys $116M for Syracuse Affordable Housing Overhaul
Goldman Sachs has provided a $116 million construction loan as part of an overall $269 million financing package to facilitate the redevelopment of a long-standing Syracuse affordable housing complex, Commercial Observer can first report. The investment bank’s Urban Investment Group provided the loan on BFC Partners and SAA Canopy Group’s transformation of the Parkside Commons…
Karim Alibhai Started at Best Western. Now He Rents Rooms at $2,500 a Night.
As room rates at the world’s poshest properties push past $2,000 a night, Karim Alibhai has been snapping up high-profile luxury hotels. Alibhai has built an $8 billion portfolio that includes properties from Chicago to Bermuda to Costa Rica. His company, Gencom, this year paid $320 million for the Ritz-Carlton New York, Central Park. Since…
Morgan Stanley Leads Acquisition of Metra Living, Adds 3,200 Greater London Rentals
Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), alongside Ridgeback Group, has acquired the Private Rented Sector business of London & Quadrant Housing Trust (L&Q), which trades as Metra Living, for a total enterprise value of £1.045 billion (approximately US$1.38 billion). The transaction includes a portfolio of approximately…
T&T Supermarkets Continues California Expansion with First East Bay Location
Following the recent opening of its first California store in San Jose, T&T Supermarket, Canada’s largest Asian grocery retailer, announced plans to open its fourth Bay Area location and first East Bay store at NewPark Mall in Newark. The 72,600-square-foot store will occupy the former Macy’s anchor space for T&T’s largest California location to date.…
Declining Empire State Building Visits Drive Q2 Loss for ESRT
New York City’s declines in international tourism over the past year since President Donald Trump assumed office are starting to affect Empire State Realty Trust (ESRT)’s finances. The real estate investment trust (REIT) reported second-quarter funds from operations (FFO) of $57 million, or 21 cents per share, marking a loss of $25.8 million or 15…
KKR Posts Record Earnings as Fundraising Hits $133B
Even as the private equity industry grapples with elevated interest rates and a growing backlog of unsold portfolio companies amid mounting concerns over artificial intelligence’s impact on the software sector, KKR reported record earnings during the second quarter of 2026. Fee-related earnings rose 37 percent annually to $1.21 billion, thanks in part to management fees…
