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InterContinental-New-York-Times-Square
AcquisitionsHospitalityNew YorkNortheast

Partnership Acquires 607-Room InterContinental New York Times Square Hotel

by Taylor Williams

NEW YORK CITY — A partnership between two hospitality owner-operators, Gencom and Highgate, as well as New York City-based investment firm Argent Ventures, has acquired the 607-room InterContinental New York Times Square hotel in Midtown Manhattan. According to Hospitality Investor and The New York Business Journal, the sales price was $230 million. The 34-story hotel offers approximately 20,000 square feet of meeting and event space, multiple onsite food-and-beverage options and a 24-hour fitness center. The new ownership plans to renovate guestrooms, public spaces and dining venues. Eastdil Secured represented the seller, a joint venture between Tishman Speyer and MetLife Investment Management, in the transaction and arranged acquisition financing for the deal through Monroe Capital.

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AcquisitionsColoradoMultifamilySeniors HousingWestern

Morgan Stanley Purchases Seniors Housing Portfolio in Metro Denver for $305M

by Amy Works

DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver.  “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI.  “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership.  Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.  

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Topanga-Gateway-Woodland-Hills-CA
AcquisitionsCaliforniaRetailWestern

Space Investment Acquires Topanga Gateway Shopping Center in Woodland Hills, California for $64M

by Amy Works

WOODLAND HILLS, CALIF. — Space Investment Partners has acquired Topanga Gateway, a 123,402-square-foot grocery-anchored retail center located in Woodland Hills for $64 million. Built in 1963 and renovated in 2024, the open-air center was 97 percent leased at the time of sale. Topanga Gateway is home to several tenants including Ralphs, The Container Store, Petco, Chipotle Mexican Grill, Baskin-Robbins, Noah’s NY Bagels and FedEx. Eastdil Secured represented the buyer and the seller, a private investor, in the transaction.  The purchase of Topanga Gateway follows Space Investment’s $118.5 million acquisition of Fullerton Metrocenter, a 395,703-square-foot dual-grocery-anchored center located at 1375 Harbor Blvd. in Fullerton.

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The-Springs-at-Sunnyside-Portland-OR
AcquisitionsLoansMultifamilyOregonSeniors HousingWestern

JLL Arranges Sale, Financing of 87-Unit Seniors Housing Community in Portland

by Amy Works

PORTLAND, ORE. — JLL Capital Markets has completed the sale and financing of Morningstar at Happy Valley, an assisted living and memory care property in Portland. Confluent Development sold the property to Harrison Street, in partnership with The Springs Living, for an undisclosed price. The buyer will rebrand the 87-unit property as The Springs at Sunnyside. The Springs Living will operate the asset. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Dan Baker, Jim Dooley and Dean Ferris of JLL represented the seller. Alanna Ellis of JLL led the financing efforts on behalf of the buyer. JLL secured a five-year acquisition loan with Huntington National Bank for Harrison Street. Built in 2019, The Springs at Sunnyside offers 61 assisted living units across a mix of studios, one- and two-bedroom units in addition to 26 private memory care units. The three-story building features all-day restaurant-style dining, a 24-hour bistro, chapel, theater, library, general store, massage room, outdoor courtyards, barbecue and fire pits, beauty salon, fitness room and raised garden beds. Onsite services include wellness programs and activities, a full-time licensed nurse, 24-hour care staff and scheduled transportation.

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AcquisitionsMultifamilyNew YorkNortheast

Cushman & Wakefield, Pyramid Arrange $36.7M Sale of Upstate New York Apartment Community

by Taylor Williams

GRAND ISLAND, N.Y. — Cushman & Wakefield and Pyramid Brokerage Co. have arranged the $36.7 million sale of Country Glenn, a 336-unit apartment community in Grand Island, located just outside of Buffalo. According to Apartments.com, the property was built in 1974 and offers studio, one- and two-bedroom units that range in size from 425 to 1,340 square feet. Berkley Properties sold Country Glenn to NBM Equities. Niko Nicolaou, Ryan Dowd, Peter Welch, J.P. Hohl and Alexandria Russo Ebers, in collaboration with Pyramid’s Jonathan Weinstein and Robert Stewart, brokered the deal on behalf of both parties. John Alascio, Brad Domenico, Brian Anderson and Chuck Kohaut of Cushman & Wakefield arranged acquisition financing for the transaction.

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Signal-Hill-Commerce-Center-Signal-Hill-CA
AcquisitionsCaliforniaIndustrialWestern

DRA Divests of Signal Hill Commerce Center in California for $24M

by Amy Works

SIGNAL HILL, CALIF. — DRA has completed the sale of Signal Hill Commerce Center, a portfolio of three industrial properties spread across four buildings in Signal Hill. An out-of-state, high-net buyer acquired the portfolio for $24 million, or $268 per square foot. The properties are located at 2698 Junipero, 2300 Walnut and 2700 Rose avenues. Michael Longo, Eric Cox, Grant Goldman, Mark Shaffer, Anthony DeLorenzo and Brian Held of CBRE represented the seller, while Greg Grant and Pete Obradovich of CBRE’s Debt & Structured Finance organized the funding. Totaling 89,438 square feet on 4.3 acres, the portfolio is 87 percent leased to 46 tenants with unit sizes ranging from 1,250 square feet to 4,176 square feet. All four buildings feature a 24-foot clear height and between 12 and 20 ground-level doors.

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DevelopmentLife SciencesMidwestMissouri

Tarlton Begins $100M Redevelopment Project for Washington University Bioscience Hub in St. Louis

by Kristin Harlow

ST. LOUIS — Tarlton is providing preconstruction and construction management services for “Catalyst: Powered by WashU,” a new startup hub for bioscience companies in the Cortex Innovation District from BOBB LLC, an affiliate of Washington University. The $100 million, 163,000-square-foot redevelopment project is located in the Central West End of St. Louis and includes the renovation of the 120,000-square-foot, seven-story former headquarters of MERS Goodwill Industries at 4140 Forest Park Blvd. Tarlton will restore the building, which was occupied by MERS Goodwill Industries from 1944 to 2019. The building was originally constructed for Standard Sanitary Manufacturing Co. and is listed on the National Register of Historic Places. The project also includes the construction of a new 50,000-square-foot, four-story addition. Three new elevators will access laboratory and office spaces. The ground-floor lobby will feature a coffee bar and common meeting spaces. HOK is the project architect.

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AcquisitionsMidwestMissouriMultifamily

MMG Arranges Sale of 407-Unit Apartment Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — MMG Real Estate Advisors has arranged the sale and financing of Union Berkley, a 407-unit apartment community in Kansas City. The transaction marks the largest single-property sale ever recorded in Kansas City, according to MMG. The property was built in 2018 and is situated in the riverfront district. Harry Trotter, TJ Wahl, Brett Meinzer, Colson Bayles and Parker Guffey of MMG represented the seller.

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AcquisitionsIllinoisIndustrialMidwest

JLL Brokers Sale of 314,000 SF FedEx Ground Distribution Facility in Niles, Illinois

by Kristin Harlow

NILES, ILL. — JLL Capital Markets has arranged the sale of a 314,000-square-foot FedEx Ground distribution facility located at 5959 W. Howard St. in Niles. Constructed in 2015 as a build-to-suit for FedEx Ground Package Systems Inc., the distribution center features a clear height of 32 feet, 101 dock doors, six drive-in doors and a fully automated material handling system with six-dimensional package scanning and sorting capabilities. The property includes 291,511 square feet of warehouse space, 14,937 square feet of office space, a 5,180-square-foot maintenance facility and a 2,400-square-foot guard building. There are 562 car parking spaces and 546 trailer parking spaces across the site along with a fueling station. The property includes an additional 11.2 acres of land that FedEx currently utilizes for trailer and auto parking. FedEx has operated from the facility since June 2015.

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DevelopmentIllinoisLoansMidwestMultifamily

Maverick Secures $13.5M Construction Loan for Apartment Building in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Maverick Commercial Mortgage Inc. has arranged a $13.5 million stretch senior construction loan for a 30-unit apartment building in Evanston. A Midwest-based debt fund provided the loan. The borrower acquired the site, previously a parking lot, in 2024. The project site is located four blocks west of Northwestern University. Completion is slated for spring 2027.

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