Property Type

Reports: Midtown Manhattan Office Building ‘Stable’ Following Yesterday’s Evacuation

by Taylor Williams July 8, 2026

NEW YORK CITY — The Midtown Manhattan office building that is under construction on East 42nd Street and was evacuated on Tuesday, July 7 following reports of buckling columns, sagging floors and falling debris is in “stable” condition, according to reports from USA Today and NBC News on the morning of Wednesday, July 8. Both publications cited a Tuesday evening statement from Ahmed Tigani, commissioner of the New York City Department of Buildings, in reporting this assessment. USA Today also reports that Tigani told reporters that “jacks were in place to stabilize the weak points, and new steel was being installed to create additional stability.” In addition, CNN reported this morning that New York City officials are “confident” in the efficacy of the emergency measures undertaken over the past 24 hours but have not ruled out the possibility of a partial, or “localized” collapse. CNN also reported that additional stabilization practices will be implemented in the coming days. About a year ago, a partnership between Metro Loft Management and David Werner Real Estate Investments announced plans to execute a residential conversion of the 10-story office building at 219 E. 42nd St. The partnership planned to merge the converted space at …

July 8, 2026

Acquisitions New Jersey Northeast Office

RCS, Lamar Acquire 368,049 SF Office Building in Jersey City

by Taylor Williams July 8, 2026

JERSEY CITY, N.J. — A partnership between Real Capital Solutions (RCS) and Lamar Cos. has acquired 30 Montgomery, a 368,049-square-foot office building in Jersey City. The 16-story waterfront building was 61 percent leased at the time of sale to tenants such as Bluevine Capital, Wayste (Sourgum), Asset Based Lending and Outcomes Matter Innovations. The building has also received $30 million in recent capital improvements, including upgrades to the lobby, façade, building systems and common areas. The seller and sales price were not disclosed.

July 8, 2026

Company News Industrial Maryland Southeast

Merritt Properties Receives $750M Investment, Announces Leadership Changes

by John Nelson July 8, 2026

BALTIMORE — Merritt Properties, a privately held commercial real estate developer and owner based in Baltimore, has received a $750 million investment led by Centerbridge Partners LP. The investment includes capital to grow the company’s shallow-bay industrial portfolio in existing markets in Maryland, Virginia, North Carolina and Florida, as well as new markets. As part of the investment, Centerbridge acquired the ownership interest previously held by Almanac, the private real estate investment arm of Neuberger that has partnered with Merritt since 1997. Almanac is also part of the investment group led by Centerbridge. Jefferies Private Capital Advisory served as financial adviser to Merritt in connection with the transaction, and CBRE National Partners served as real estate adviser. Miles & Stockbridge PC and Kramon & Graham PA provided legal counsel to Merritt. Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge, and Seyfarth Shaw LLP represented Almanac. Additionally, Merritt has announced changes to its C-suite of executives. Robb Merritt, the company’s current president, has been appointed to CEO, while previous CEO Scott Dorsey will transition to executive chairman. Bobby Lanigan, who previously led Merritt’s acquisitions and strategic growth initiatives, will become the firm’s new president.

July 8, 2026

Loans Multifamily Oregon Western

Gantry Places $40M in Loans for Suburban Portland Multifamily Communities

by Amy Works July 8, 2026

CLACKAMAS AND TIGARD, ORE. — Gantry has placed two $20 million permanent loans for a single sponsor to refinance maturing debt for a pair of apartment communities near Portland, Ore. Blake Hering and Kristin Lapinskas of Gantry’s Portland office arranged the loans on behalf of the undisclosed borrower. The five-year, fixed-rate, nonrecourse permanent loans were provided by one of Gantry’s correspondent life company lenders. The loans feature full-term, interest-only payment schedules. Gantry will also service the loans. The properties are Squires Court in Clackamas and Riverwood Heights in Tigard. Totaling 475 units, the garden-style assets feature a mix of one-, two- and three-bedroom floor plans. Community amenities include pools, clubhouses and “well-maintained” structures and landscaping.

July 8, 2026

Acquisitions Affordable Housing California Multifamily Western

Marcus & Millichap Negotiates $9.7M Sale of Affordable Housing Property in Oakland

by Amy Works July 8, 2026

OAKLAND, CALIF. — Marcus & Millichap has negotiated the $9.7 million sale of Garden Villas, an affordable housing property located at 1256 99th Ave. in Oakland. Adam Levin of Marcus & Millichap’s Levin Johnston team represented the undisclosed seller and procured undisclosed buyer in the deal. Constructed in 1943, Garden Villas consists of 18 four-plex buildings offering a total of 73 one- and two-bedroom units. Community amenities include a leasing office, laundry facility, recreation space, onsite manager’s residence and private parking. More than half of the units have been renovated with updated kitchens and interiors, dishwashers, vinyl plank flooring, tiles and other modern finishes.

July 8, 2026

California Loans Office Western

MMCC Arranges $5.7M in Financing for Office Property in Los Angeles

by Amy Works July 8, 2026

LOS ANGELES — Marcus & Millichap Capital Corp. (MMCC) has arranged $5.7 million in financing for an office building located at 9221 Corbin Ave. in the Northridge neighborhood of Los Angeles. Situated near the California State University, Northridge campus, the 48,954-square-foot building is occupied by a tutoring service, internet service provider, computer repair service, consulting firm, real estate agency and an accounting firm. Dean Giannakopoulos of MMCC’s Chicago office originated the three-year loan at 65 percent loan-to-value through a regional bank on behalf of the undisclosed borrower. Other terms of the loan include a 6 percent interest rate and a 25-year amortization schedule.

July 8, 2026

Acquisitions Arizona Restaurant Retail Western

Cushman & Wakefield Brokers $2.4M Sale of Black Rock Coffee Bar in El Mirage, Arizona

by Amy Works July 8, 2026

EL MIRAGE, ARIZ. — Cushman & Wakefield has brokered the $2.4 million sale of a newly developed restaurant building located at 12443 NW Grand Ave. in El Mirage, located west of Glendale. The sales price was $2.4 million. Black Rock Store Operations LLC occupies the 620-square-foot building via one of its 181 Black Rock Coffee Bar locations across seven states. The coffee bar offers specialty coffee, energy drinks, breakfast sandwiches, bagels, egg bites and grab-and-go pastries. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the deal. Both parties were limited liability companies.

July 8, 2026

Acquisitions Georgia Hospitality Southeast

Machine, Lionshead Capital Purchase 641-Room Atlanta Airport Marriott Hotel

by John Nelson July 8, 2026

ATLANTA — A joint venture between Machine Investment Group and Lionshead Capital Partners has purchased Atlanta Airport Marriott, a 641-room hotel located on a 16-acre site adjacent to Hartsfield-Jackson Atlanta International Airport. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports that the Pennsylvania Public School Employees’ Retirement System was listed as the previous owner on Fulton County property records. William Hodges and Michael Tormey of Hodges Ward Elliott brokered the transaction. The new ownership group has selected White Label Asset Management to serve as asset manager for the 16-story hotel. The property includes 30,178 square feet of indoor meeting space, including a 9,928-square foot ballroom; multiple food-and-beverage outlets; an indoor/outdoor pool complex; and a large fitness center with six pickleball courts. Machine and Lionshead Capital plan to invest in a significant capital improvement program for Atlanta Airport Marriott, whose guestrooms were last renovated in 2017.

July 8, 2026

Acquisitions Florida Office Southeast

Partnership Acquires Coral Gables Office Portfolio in South Florida for $97.8M

by John Nelson July 8, 2026

CORAL GABLES, FLA. — A partnership between Intalex Capital, Itero Investments and Greenwall has acquired The Ponce, a three-building office portfolio spanning 365,000 square feet in Coral Gables. The acquisition includes 2525 Ponce de Leon, 2555 Ponce de Leon and 152 Valencia Avenue. Chris Lee, Sean Kelly, Tom Rappa and Matthew Lee of CBRE represented the undisclosed seller, which sold the portfolio for $97.8 million. Amy Julian and Andrew Chilgren, also with CBRE, arranged $105 million in financing for the acquisition and future capital improvement through ACORE Capital. The partnership plans to invest $30 million in renovations to common areas, tenant offices and amenities. The owners have retained Hines Management as property manager and Ryan Holtzman and Lena Weeks of Cushman & Wakefield as leasing agents at The Ponce.

July 8, 2026

Development Multifamily South Carolina Southeast

Woodfield to Begin Construction on 285-Unit Apartment Community in Charleston

by John Nelson July 8, 2026

CHARLESTON, S.C. — Woodfield Development plans to soon break ground on Westbourne Ashley Landing, a 285-unit apartment community in Charleston. The property will serve as the multifamily component of Ashley Landing, a 31-acre mixed-use redevelopment in Charleston’s West Ashley neighborhood. EDENS is the master developer of Ashley Landing, which will feature 240,000 square feet of retail and commercial space, including a Publix grocery store. TD Bank provided an undisclosed amount of construction financing for the multifamily development, while PGIM Real Estate is providing equity financing. Upon completion, which is expected by third-quarter 2028, Westbourne Ashley Landing will feature studio, one-, two- and three-bedroom apartments ranging in size from 384 to 1,663 square feet. Amenities will include EV charging stations, indoor mail rooms with package concierge services, fitness facilities with private studios, a business center with work pods, grab-and-go market, pet spa and park, pickleball court and a saltwater pool with a sunbathing deck. The project team includes Housing Studio, Seamon Whiteside, Shah Interiors, S Wilkins Interiors, SPX and Carter and Carter.

July 8, 2026

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