GRANDVIEW HEIGHTS, OHIO — VIUM Capital, a seniors housing and healthcare commercial real estate finance firm, has leased 14,808 square feet of new headquarters space at 995 Yard Street within Grandview Yard in Grandview Heights, just north of Columbus. Clayton Davis of JLL represented the tenant. Grandview Yard is a 125-acre mixed-use development featuring more than 1.2 million square feet of office space, 1,500 residences, hospitality, retail and restaurant uses. The neighborhood is home to businesses such as Nationwide Insurance, OhioHealth, Ernst & Young, Willis, Ineos and Acrisure. The office at 995 Yard St. consists of two connected four-story buildings totaling 245,000 square feet. Amenities include Crossings Café, a fitness center and conference facility. Construction on VIUM’s space is underway, with occupancy slated for the first quarter of 2026.
NEW YORK CITY — A partnership between The Community Preservation Corp., Shelter Rock Builders and the New York City Department of Housing Preservation and Development has completed a 31-unit affordable housing project in Brooklyn. The project represents Phase I of the Bedford-Stuyvesant North & Central development and comprises nine three-family and two two-family buildings with 11 for-sale units and 20 rental units. Phase II of the project will add another 76 units.
NEW YORK CITY — Rithm Capital Corp., a global alternative asset manager, has entered into a definitive agreement to acquire Paramount Group Inc. (NYSE: PGRE), a vertically integrated real estate investment trust (REIT) that owns, operates, manages and redevelops Class A office properties in New York City and San Francisco. The purchase price is approximately $1.6 billion. New York City-based Paramount’s portfolio includes 13 owned and four managed office assets totaling more than 13.1 million square feet, 85.4 percent of which was leased as of June 30. Under the terms of the agreement, which has been approved by the boards of directors of both companies, Rithm will acquire all outstanding shares of Paramount common stock for $6.60 per fully diluted share. Paramount’s stock price closed at $7.38 per share Tuesday, Sept. 16, up from $5.08 per share one year ago, a more than 45 percent increase. Rithm expects to fund the transaction with a combination of cash and liquidity from its balance sheet and potential opportunities from co-investors. New York City-based Rithm says the addition of the Paramount portfolio will create new opportunities for investors to access its real estate platform and bolster its asset management business. “We believe the …
— Tim McKay of Cushman & Wakefield — Seattle’s multifamily market has faced challenges over the past few years. Rent growth has been flat as a significant number of new units were delivered in 2023 and 2024. This new supply also led to concessions and even rent declines in some markets. Submarket supply issues and the new statewide rent control legislation have also contributed to market headwinds. However, 2025 has brought signs of recovery, and there’s optimism about the market’s trajectory over the next few years. It feels like Seattle has bounced off the bottom and is starting to climb back up, similar to the recovery seen in 2011 after the Global Financial Crisis. Rebounding Demand The multifamily market has seen a recent uptick in demand, which can be attributed to several factors. A key driver has been the return-to-office mandates from major employers like Amazon and Starbucks. Seattle’s population is also expected to grow again, and the supply of new units hitting the market has drastically declined. These factors are contributing to renewed growth after a four- to five-year stagnation. Stabilizing Rental Rates Owners are starting to put properties under contract again. Land prices haven’t returned to previous levels, …
RICHARDSON, TEXAS — San Diego-based investment firm MG Properties has purchased Ovation at Galatyn Park, a 361-unit apartment community in the northeastern Dallas suburb of Richardson. Designed by WDG Architecture, Ovation at Galatyn Park offers one-, two- and three-bedroom units that range in size from 500 to 1,700 square feet and are furnished with quartz countertops and various smart-home technologies. Amenities include a pool, fitness center, sky lounge, outdoor game room, arcade, billiards room and a podcast studio. Daniel Baker, Johnathan Makus, Kevin O’Boyle and Chandler Sims of CBRE represented the seller, a partnership between San Francisco-based Legacy Partners and Bridge Investment Group, which completed the project last spring, in the transaction.
ADDISON, TEXAS — Advanced Circuit Services has signed a 98,143-square-foot industrial lease in the northern Dallas metro of Addison. The manufacturer of circuit boards is expanding its footprint by nearly 50 percent within Building 3 at Marsh Business Park West, which features 20-foot clear heights and 14 dock doors. Rich Young of Rich Young Co. represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, GKI Industrial LLC.
SAN ANTONIO — EōS Fitness will open a 48,248-square-foot gym in northwest San Antonio. The Dallas-based operator will backfill a space formerly leased to Conn’s HomePlus at The Village at Summit shopping center. Rise Commercial Partners represented the tenant in the lease negotiations. CBRE represented the landlord, an entity doing business as Summit Income Partners LP. The opening is set for 2027.
THE WOODLANDS, TEXAS — Metro Philadelphia-based CenterSquare Investment Management has purchased Commons at Harper’s Preserve, a 21,777-square-foot retail strip center located north of Houston in The Woodlands. The center was 91 percent leased at the time of sale to tenants such as Five Guys, Jeremiah’s Italian Ice, Little Caesar’s, Dunkin’ and Next Level Urgent Care. The seller and sales price were not disclosed.
NASHVILLE, TENN. — Ashford Hospitality Trust Inc. has obtained a $218.1 million loan to refinance Renaissance Hotel, a 673-room hotel located at 611 Commerce St. in Nashville. Built in 1987, the hotel features meeting and event space, a club lounge, Little Fib Bar, a 24-hour market and a third-floor bar and restaurant in a glass atrium called Bridge Bar, according to the hotel website. The two-year, non-recourse loan refinanced the existing $267.2 million mortgage. The undisclosed lender underwrote the loan with three one-year extension options and a floating interest rate of SOFR + 2.26 percent, which is 172 basis points lower than the interest rate on the previous loan. In conjunction with the debt refinancing, Ashford Hospitality increased the preferred equity investment on the hotel by $53 million.
TAMPA, FLA. — Rockpoint and Newbond Holdings have acquired Westin Tampa Waterside, a waterfront hotel in downtown Tampa. The seller and sales price were not disclosed. The 309-room property is situated on a 1.5-acre site and is the only hotel on the city’s Harbour Island. Westin Tampa is within walking distance of the Tampa Convention Center, Water Street District, Sparkman Wharf and the University of Tampa. Amenities include a fitness studio, heated outdoor pool, multiple dining and bar options and meeting and social event space. Rockpoint and Newbond Holdings plan to renovate Westin Tampa’s guest rooms, lobby and meeting space.