Monday, December 22, 2025
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IowaLoansMidwestMultifamily

MMCC Secures $7.6M in Financing for Multifamily Property in Burlington, Iowa

by Kristin Harlow

BURLINGTON, IOWA — Marcus & Millichap Capital Corp. (MMCC) has secured $7.6 million in financing for Urbane 424, a 52-unit multifamily property in Burlington, a city in eastern Iowa. The five-story property at 424 N. 3rd St. is situated near the Great River Bridge with views of the Mississippi Riverfront. The asset features a mix of studio, one- and two-bedroom units along with 3,000 square feet of first-floor retail space. Amenities include a rooftop terrace, bike storage and lounge. Robert Bhat of MMCC arranged the financing with a national bank on behalf of a private client. The nonrecourse loan features a five-year term with interest-only payments for the full term and a 70 percent loan-to-value ratio.

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District of ColumbiaMarket ReportsRestaurantRetailSoutheastSoutheast Market Reports

D.C. Retail Remains a Great Opportunity, If You Know Where to Look

by John Nelson

The Washington, D.C., commercial real estate market is intricate, shaped by broad economic trends and local dynamics. The recent federal government shutdown underscored ongoing challenges, intensifying uncertainty and slowing local transactions. Continued ambiguity around trade and tariff policies further complicates business planning, adding to the region’s cautious dealmaking environment. Anxiety affects the region’s key economic source: federal workers and contractors, who make up 40 percent of its economy. Since January 2025, federal job losses here have outpaced the national average, increasing the risk of a local slowdown. Despite the area’s wealth, ongoing job uncertainty should guide all investment and operational choices. The interplay between federal employment trends and local business activity means that investors and operators must remain vigilant, adapting strategies to respond to shifting workforce dynamics and consumer sentiment. Tale of two marketsThe D.C. retail market is split: downtown faces challenges due to office vacancies and low weekday traffic, while suburban and residential-heavy urban areas are thriving. Affluent spots in Northern Virginia and Suburban Maryland have the lowest vacancy rates thanks to stable local shoppers. These areas benefit from consistent foot traffic and resilient spending patterns, which help insulate them from broader economic volatility. From a capital markets perspective, …

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $20.5M Sale of Metro Boston Multifamily Property

by Taylor Williams

ARLINGTON, MASS. — Marcus & Millichap has brokered the $20.5 million sale of Mystic Grove Apartments, a 60-unit multifamily complex located on the northwestern outskirts of Boston. Built in phases between 1925 and 1963, Mystic Grove offers studio, one-, two- and four-bedroom apartments, as well as a fitness center and onsite laundry facilities. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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DevelopmentIndustrialNew JerseyNortheast

Brookfield Completes 151,676 SF Industrial Project in Union, New Jersey

by Taylor Williams

UNION, N.J. — Brookfield Properties has completed a 151,676-square-foot industrial project in the Northern New Jersey community of Union. Known as Union Distribution Center, the development features a clear height of 36 feet, 28 dock doors, two drive-in doors, 4,000 square feet of office space and parking for 16 trailers and 123 cars. PREMIER Design + Build Group handled both the architectural and general contracting aspects of the project.

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AcquisitionsNew JerseyNortheastOffice

Colliers Negotiates Sale of 66,500 SF Vacant Office Building in Bridgewater, New Jersey

by Taylor Williams

BRIDGEWATER, N.J. — Colliers has negotiated the sale of CenterPointe I, a 66,500-square-foot vacant office building in the Northern New Jersey community of Bridgewater. Allstate Insurance previously occupied the building, which according to LoopNet Inc. is part of a larger campus known as CenterPointe at Bridgewater. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller, Signature Acquisitions, in the transaction. The buyer was an undisclosed nonprofit organization.

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Leasing ActivityNew YorkNortheastOffice

EQT Partners Signs 38,358 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — EQT Partners has signed a 38,358-square-foot office lease expansion in Midtown Manhattan. The global investment organization now occupies 114,562 square feet across the 32nd, 33rd and 34th floors of 245 Park Avenue, a 44-story, 1.8 million-square-foot. Michael Movshovich and Ethan Silverstein of Cushman & Wakefield represented the tenant in the lease negotiations. Bruce Mosler, Harry Blair, Ron LoRusso, Justin Royce and Pierce Hance, also with Cushman & Wakefield, represented the landlord, SL Green.

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Affordable HousingDevelopmentLoansMultifamilyNew YorkNortheastOfficeTop Stories

Walker & Dunlop Arranges $867M Financing Package for Office-to-Residential Conversion Project in Lower Manhattan

by John Nelson

NEW YORK CITY — Walker & Dunlop Inc. has arranged an $867 million financing package for 111 Wall Street, a 24-story, waterfront office building in Lower Manhattan’s Financial District. The development team, led by borrower InterVest capital partners, a global alternative investment manager based in New York City, plans to convert the fully vacant office building into a 30-story luxury apartment building housing 1,568 rental units. Approximately 25 percent of the units will be designated as affordable housing for residents earning an average of 80 percent of the area median income (AMI), qualifying the project for New York City’s Affordable Housing Conversion Program. Dustin Stolly, Aaron Appel, Adam Schwartz, Keith Kurland, Jonathan Schwartz, Sean Reimer and Sean Bastian of Walker & Dunlop arranged a $778.6 million construction loan through Apollo Global Management, J.P. Morgan Chase & Co. and TYKO Capital. The closing of this financing marks the largest single-building office-to-residential conversion loan in New York City history as well as the country, according to Walker & Dunlop. Walker & Dunlop also advised on the extension of an existing $88.4 million C-PACE loan from Petros that remained in the capitalization, bringing the total financing package to $867 million. “With office vacancies …

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Adamo Distribution Center
AcquisitionsFloridaIndustrialSoutheast

JLL Arranges $92.5M Sale of Industrial Portfolio in East Tampa

by Abby Cox

TAMPA, FLA. — JLL Capital Markets has arranged the sale of a nine-building portfolio located across two industrial parks in Tampa on the east side of the city’s central business district. East Capital Partners purchased the 492,957-square-foot portfolio for $92.5 million, according to the Tampa Bay Business Journal. Luis Castillo, Cody Brais and David Orta Jr. of JLL represented the seller in the transaction. Melissa Rose, Jovi Rodriguez and Duncan Miller, also with JLL, secured financing for the acquisition on behalf of the new owner. The portfolio spans 25.6 acres and includes Adamo Distribution Center and Commerce Distribution Center. The small-bay industrial parks were 94 percent leased at the time of sale to 28 tenants across multiple industries such as utilities, logistics, manufacturing, consumer goods, building materials, biotech, medical supplies and technology.

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hialeah-industrial-portfolio
AcquisitionsFloridaIndustrialLoansSoutheast

Basis Purchases Industrial Portfolio in Hialeah, Florida for $84.8M

by Abby Cox

HIALEAH, FLA. — Basis Industrial has purchased a portfolio of 42 small-bay industrial buildings totaling 396,135 square feet in Hialeah, a suburb of Miami, for $84.4 million. Jose Lobón of CBRE represented the seller, TA Realty, in the transaction. Anthony Scavo internally represented Basis Industrial. BankUnited and Seacoast Bank provided financing for the acquisition, while NexPoint Advisors provided more than $20 million of preferred equity. The portfolio includes 24 buildings totaling 282,000 square feet at West 31st Place, West 32nd Place and West 33rd Place; 17 buildings totaling 93,116 square feet in the east pocket at West 8th Court, West 27th Street and West 28th Street; and one 20,119-square-foot building at 7395 W. 18th Lane. The industrial buildings feature a mix of cross-dock and front-load configurations with dock-high and grade-level loading, 14- to 22-foot clear heights, with roughly 5 to 12 percent of the space dedicated to offices. The portfolio was 85 percent leased to 79 tenants at the time of sale in industries relating to home design and improvement, as well as many other small family-owned businesses. The average tenant size is approximately 4,280 square feet.

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AcquisitionsDevelopmentDistrict of ColumbiaLeasing ActivityOfficeSoutheast

BXP Buys D.C. Office Building for $55M, Plans Redevelopment Following Sidley Austin Anchor Lease

by Abby Cox

WASHINGTON, D.C. — BXP has acquired 2100 M Street, a 300,000-square-foot office building located in the West End of Washington, D.C., for $55 million. The publicly traded, Boston-based office REIT plans to demolish the existing building and develop a new 320,000-square-foot office tower. BXP expects to commence construction of the project in 2028. Eastdil Secured represented the undisclosed seller in the transaction. Additionally, Sidley Austin LLP has signed a 240,000-square-foot lease to anchor the future trophy property, occupying 75 percent of the building. The global law firm will be situated on the fourth through 10th floors and is scheduled to move into its new space in 2031. Lou Christopher and Jordan Brainard of CBRE represented Sidley Austin in the lease transaction.

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