NEW YORK CITY — North Bridge, a provider of commercial credit solutions, has provided an $8.5 million C-PACE (Commercial Property Assessed Clean Energy) loan for Herald Towers, a three-building apartment complex located at 50 W. 34th St. in Midtown Manhattan. The borrower, JEMB Realty, will use the loan proceeds to fund infrastructural upgrades and modernize building systems across the 690-unit complex. According to North Bridge, the transaction represents the first multifamily C-PACE deal to close in New York City.
NEW YORK CITY — StoneX has signed a 21,904-square-foot office lease expansion in Midtown Manhattan. The global financial services firm is taking additional space on the 32nd floor at 230 Park Avenue, bringing its total footprint to 94,742 square feet. Mark Weiss, Scott Shelbourne and Melissa Rubenstein of Cushman & Wakefield represented StoneX in the lease negotiations. Brian Waterman, Scott Klau, Erik Harris, Zach Weil and Cole Gendels of Newmark, along with internal agents Andrew Ackerman and Walter Rooney, represented the landlord, RXR.
NEW YORK CITY AND TAMPA, FLA. — Affiliates of Blue Owl Capital (NYSE: OWL), a New York City-based private equity firm, have entered into an agreement to acquire Tampa-based REIT Sila Realty Trust (NYSE: SILA) for $2.4 billion. The deal, which will make Sila a private company, is expected to close late in the second quarter or early in the third quarter of this year. The valuation represents a per-share stock price of $30.38 for Sila. That price constitutes a 19 percent premium over Sila’s closing stock price of $25.53 per share on April 17, the last full day of trading prior to the announcement. The share price also represents a 25.6 percent premium over Sila’s average volume weighted price for the last 30 trading days. BofA Securities is serving as Sila’s exclusive financial advisor, and Hogan Lovells US LLP is acting as Sila’s legal counsel. Citigroup Global Markets Inc. is acting as lead financial advisor to Blue Owl, with Truist Securities Inc. also acting as a financial advisor. Newmark is Blue Owl’s real estate advisor. Kirkland & Ellis LLP is serving as legal advisor to Blue Owl. “The Sila team has curated a highly diversified collection of critically important …
SARATOGA SPRINGS, N.Y. — Dwight Mortgage Trust (DMT), the affiliate REIT of New York City-based Dwight Capital, has provided a $67.5 million bridge loan for the refinancing of Elements at Saratoga Lake, a 260-unit multifamily property in upstate New York. Completed in 2024, the property comprises 26 residential buildings that house 172 one-bedroom and 88 two-bedroom units, as well as a clubhouse building. Amenities include an indoor-outdoor pool, golf simulator, pickleball court and a fitness center with a yoga studio. David Scheer and Alex Izso of Dwight originated the debt on behalf of the borrower, Blue Iron Development.
NEW YORK CITY — Marcus & Millichap has brokered the $7 million sale of a 3,965-square-foot mixed-use building in Manhattan’s West Village. The building at 304 Bleecker St. consists of four newly renovated, market-rate apartments and a 1,550-square-foot retail space that is leased to Joe & the Juice. John Stewart and Dylan Torey of Marcus & Millichap represented the seller, HUBB NYC, in the transaction and procured the buyer, a private investor.
NEW YORK CITY — CIGNA has signed a 32,700-square-foot office lease renewal at 2 Grand Central in Midtown Manhattan. The insurance giant is relocating its offices at the base of the building to two full upper floors. Anthony Dattoma of CBRE represented CIGNA in the lease negotiations. Paul Amrich, Neil King, Meghan Allen, Alexander Golod and James Ackerson, also with CBRE, represented the undisclosed landlord.
NEW YORK CITY — JLL has arranged a $19 million loan for the refinancing of a portfolio of five multifamily buildings totaling 42 units in Brooklyn. Known as the Edifice Portfolio, the newly renovated buildings are located at 431-433 Wythe Ave. and 313 S. 4th St. in Williamsburg and 19-21 Columbia Place in Brooklyn Heights. Jillian Mariutti and John Flynn of JLL arranged the loan through City National Bank on behalf of the borrower, local investment firm Edifice Real Estate Partners.
NEW YORK CITY — Candid Health, a provider of healthcare revenue cycle software, has signed a 28,687-square-foot office lease in Midtown Manhattan. The lease term is seven years, and the space is located on the third floor of the building at 675 Avenue of the Americas. Justin Haber, Kyle Riker and Emma Gill of JLL represented the tenant in the lease negotiations. Anthony Sciacca and Scott Gutnick of Newmark, along with internal agents Jeffrey Gural and Alphie Toro, represented the landlord, GFP Real Estate.
NEW YORK CITY — Perplexity has signed an office lease expansion in Manhattan’s Union Square area. The AI platform now occupies 22,000 square feet across two full floors within the adjoining buildings at 841-853 Broadway. Andrew Wiener, Robert Fisher and Henry Korzec represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. Marcella LaHara, Derek Feinman and Adam Spector of Newmark represented Perplexity.
POUGHKEEPSIE, N.Y. — Regional brokerage firm The Kislak Co. Inc. has negotiated the $8.3 million sale of Hamilton Garden Apartments, a 58-unit building in Poughkeepsie, located north of New York City. The property consists of seven two-story buildings that were built between 1925 and 1965 and house studio, one- and two-bedroom units, as well as onsite laundry facilities. Janet Bortz of Kislak brokered the deal. The buyer and seller were not disclosed.
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