Tuesday, July 22, 2025
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New YorkNortheastOfficeTop Stories

Northwood Investors Acquires NYC Office Tower from Chinese Conglomerate for $305M

by Katie Sloan

NEW YORK CITY — Northwood Investors has acquired the 1180 Avenue of the Americas building in Midtown Manhattan from Chinese conglomerate HNA Group for $305 million. The 23-story, 386,921-square-foot office tower was built in 1963, and offers 13,679 square feet of ground-floor retail occupied by tenants including Chick-fil-A and T-Mobile. The fully occupied office component of the property is home to anchor tenant Scripps Networks, which occupies 126,000 square feet at the building. The company’s lease is through November 2021. Jordan Roeschlaub and Dustin Stolly of NKF Capital Markets secured $237 million in financing for the acquisition of the property. The lender was RBC Royal Bank. Founded in 2006, Northwood Investors is a privately held real estate investment advisor. The company invests alongside institutional and private clients in a broad range of real estate globally, with approximately $7 billion worth of assets under management as of Jan. 1, 2018. Haikou, China-based HNA Group is a conglomerate involved in a number of industries, including real estate, tourism, finance and logistics. The company has approximately $145 billion worth of assets, over $90 billion in annual revenues and an international workforce of 410,000 employees globally. HNA has undergone financial struggles in recent months. Following …

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Lancaster Pollard 2018 Seniors Housing and Care Survey
FeaturesMultifamilySeniors HousingTop Stories

Lancaster Pollard Survey: 87 Percent of Seniors Housing Professionals Rate Industry as Highly Competitive

by Jeff Shaw

COLUMBUS, OHIO — Increasing competition is becoming a larger and larger issue within seniors housing, as 87 percent of owners, operators developers and investors rate their local environment as either competitive or extremely competitive. That’s according to the 2018 Seniors Housing and Care Survey conducted by Lancaster Pollard. In December 2017, the Columbus-based real estate services firm sent an online survey to approximately 4,000 leaders at seniors housing and care facilities throughout the United States. Over the course of two weeks, 386 respondents completed the online survey. Out of the respondents, 62 percent were for-profit providers and 73 percent identified themselves as CEOs, CFOs or owners. The majority operated facilities with fewer than 250 units and all aspects of the continuum of care were represented. Generally, respondents reflected the belief that skilled nursing is going through trouble, with only 19 percent rating the outlook for the sector as “good” over the next three years. For comparison, 58 percent rated the assisted living outlook as “good,” and 55 percent said the same for continuing care retirement communities (CCRCs). Other major finds of the survey include that 82 percent of respondents cited a shortage of workers as a key concern over the …

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RetailTexas

Rubicon Begins Work on 45,000 SF Retail Center in Metro Houston

by Taylor Williams

SUGAR LAND, TEXAS — Rubicon Realty Group LLC has begun work on The Crossing at Telfair, a 45,000-square-foot retail center located at the intersection of State Highways 6 and 90 in the southwestern Houston metro of Sugar Land. Tenants will include H-E-B, Jersey Mike’s, Whataburger, Navy Federal Credit Union and AT&T. Delivery is slated for this fall.

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RetailTexas

Marcus & Millichap Brokers Sale of 13,562 SF Retail Property in Magnolia, Texas

by Taylor Williams

MAGNOLIA, TEXAS — Marcus & Millichap has brokered the sale of a 13,562-square-foot retail property located at 32818 Tamina Road in Magnolia, about 45 miles northeast of Houston. The property had a listing price of approximately $2.5 million. David Fisher and Thomas Costello of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not released.  

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LoansMultifamilyTexas

BMC Capital Arranges $4.1M Refinancing of 148-Unit Apartment Asset in Killeen

by Taylor Williams

KILLEEN, TEXAS — BMC Capital has arranged a $4.1 million loan for the refinancing of a 148-unit multifamily community in the central Texas city of Killeen. The 10-year loan features an interest rate of approximately 5 percent and a 30-year amortization schedule. Keith Van Arsdale of BMC Capital arranged the loan through an undisclosed agency relationship. The name of the property and borrower were also withheld.  

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OfficeTexas

NAI Partners Secures 8,297 SF Office Lease Expansion in Metro Houston

by Taylor Williams

KINGWOOD, TEXAS — NAI Partners has secured an 8,297-square-foot office lease expansion at 900 Rockmead Drive in Kingwood, a master-planned community located about 30 miles northeast of Houston. Zach Leger and Jacob Aldridge of NAI Partners represented the landlord, C-III Asset Management, in the lease negotiations. The representative of the tenant, Humble ISD, was not disclosed.

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1600-Market-St-Philadelphia-PA
LoansNortheastOfficePennsylvania

HFF Facilitates $160M Sale, Financing of 1600 Market Street in Philadelphia

by Amy Works

PHILADELPHIA — HFF has arranged the $160 million sale and financing of 1600 Market Street, a 39-story office tower located in Philadelphia’s central business district. An affiliate of American Real Estate Partners acquired the 825,968-square-foot building from Equity Commonwealth for $160 million. Ryan Ade and Cary Abod of HFF secured a three-year, floating-rate loan for the buyer for the acquisition of the property. Doug Rodio and Brett Segal of HFF represented the seller and procured the buyer in the transaction.

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NortheastPennsylvaniaRetail

M&J Wilkow, ALTO Real Estate Acquire 195,165 SF Retail Center in Metro Pittsburgh

by Amy Works

CRANBERRY TOWNSHIP, PA. — M&J Wilkow, along with ALTO Real Estate Funds, has acquired Cranberry Square, a retail center located in Cranberry Township, outside of Pittsburgh. The property was acquired for $23.5 million. At the time of sale, the 195,165-square-foot property was fully occupied by a variety of tenants, including Field & Stream, Best Buy and Barnes & Noble. The name of the seller was not released.

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31-Ocean-Pkwy-NYC
MultifamilyNew YorkNortheast

Rosewood Realty Arranges $33.7M Sale of Apartment Building in Brooklyn

by Amy Works

NEW YORK CITY — Rosewood Realty Group has brokered the sale of an apartment building located at 31 Ocean Parkway in Brooklyn’s Windsor Terrace neighborhood. Steven Frey of Frey Management acquired the property from Sentinel Real Estate Corp. for $33.7 million. Built in 1928, the 90,900-square-foot building features 84 apartment units. Aaron Jungreis of Rosewood Realty represented the buyer and seller in the deal.

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