Property Type

JLL Brokers $243.5M Sale of Midtown Manhattan Apartment Tower

by Taylor Williams July 28, 2025

NEW YORK CITY — JLL has brokered the $243.5 million sale of Riverbank, a 44-story apartment tower located at 560 W. 43rd St. in Midtown Manhattan. Barings sold the freshly renovated property to an undisclosed institutional investment firm, with JLL representing both parties in the transaction. JLL also arranged $128.3 million in acquisition financing for the deal. The direct lender and specific loan terms were not disclosed. Originally developed in the late 1980s as a condominium project, Riverbank currently houses 418 rental units comprising 43 studios, 270 one-bedroom units, 62 two-bedroom apartments and 43 three-bedroom residences. The high-rise also features nearly 18,000 square feet of retail space that is fully leased to a nail salon, liquor store and coffee shop. Most of Riverbank’s units have private balconies with city and Hudson River views, and residents have access to a 5,000-square-foot lounge called the Harbor Club that offers poker and billiards tables, a media room and coworking space. Additional amenities include an Olympic-size pool, fitness center, outdoor terrace and grilling stations. Jeffrey Julien, Rob Hinckley, Andrew Scandalios, Steven Rutman and Devon Warren led the JLL Capital Markets team that handled the sale of Riverbank. Kelly Gaines, Geoff Goldstein and Michael Shmuely …

July 28, 2025

Market Reports North Carolina Office Southeast Southeast Market Reports

Charlotte’s Office Market Shows a Shift Toward Expansion, Long-Term Leasing

by John Nelson July 28, 2025

The momentum in Charlotte’s office market continues into 2025, showcasing a strong first quarter marked by positive net absorption and a surge in multi-market tenant prospects. We are currently seeing three times as many expansions as downsizing among tenants, indicating a psychological shift among decision-makers across various industries. Despite some large vacancies affecting the overall market rate, the narrative on the ground in Charlotte is one of optimism and urgency. A few factors contribute to this trend, including companies are increasingly bringing employees back to the office, and those that overcorrected their space needs post-pandemic are reassessing their strategies. Particularly interesting is the demand for Class A office space in Charlotte, a thriving Sun Belt market. The most sought-after buildings in prime locations are nearly full, leading to reduced concessions and rising rents. This stands in stark contrast to reports of distressed assets negatively impacting modern office investments. Furthermore, the number of quality subleases are limited, and new construction is expected to come to a halt soon, particularly as remaining spaces in 110 East and Legacy Union are leased, most likely by year-end. If last year is any indication of a fundamental positive shift in the office sector, we can …

July 28, 2025

Company News Georgia Retail Southeast Tennessee

Pinnacle Financial, Synovus Agree to $8.6B Merger, Operate Under Pinnacle Brand

by John Nelson July 25, 2025

NASHVILLE, TENN. AND COLUMBUS, GA. — Pinnacle Financial Partners (NASDAQ: PNFP) and Synovus Financial Corp. (NYSE: SNV) have entered into a definitive agreement to combine operations in an all-stock transaction valued at $8.6 billion. The price reflects the closing stock prices for the two companies on July 21, the latest date unaffected by the merger announcement — $116.83 per share for Pinnacle and $55.53 for Synovus. Under terms of the agreement, Pinnacle shareholders will own approximately 51.5 percent of the combined company, which will operate under the Pinnacle name and trade under the PNFP ticker symbol on the New York Stock Exchange. Pinnacle Financial will move its headquarters to Atlanta while the retail bank branch division of the combined company, which will operate under the Pinnacle Bank brand, will be based in Nashville. As of June 30, Synovus operates 244 bank branches in Georgia, Alabama, Florida, South Carolina and Tennessee. Pinnacle operates 179 bank branches in Tennessee, Virginia, North Carolina, South Carolina, Georgia, Alabama, Kentucky and Florida, according to the FDIC. The Pinnacle-Synovus merger will create the largest bank holding company in Georgia and the largest bank in Tennessee. The transaction, which is expected to close in first-quarter 2026, has …

July 25, 2025

Acquisitions California Multifamily Western

Concord Capital Partners Buys The Park Wilshire Apartments in Los Angeles

by Amy Works July 25, 2025

LOS ANGELES — Concord Capital Partners has acquired The Park Wilshire, a multifamily building in Los Angeles’ Wilshire corridor. Kitty Wallace and Simmi Dhillon of Colliers represented the institutional seller and the buyer in the deal. The sale included an adjacent 14,002-square-foot parking lot. Originally constructed as a hotel, The Park Wilshire offers 170 apartments and a variety of amenities.

July 25, 2025

California Healthcare Loans Western

Gantry Arranges $85M Refinancing for Southern California Medical Office Portfolio

by Amy Works July 25, 2025

TORRANCE, CALIF. — Gantry has secured two loans, totaling $85 million, to refinance a portfolio of medical office properties serving the Torrance Memorial Medical Center’s physician, specialist and service provider communities. George Mitsanas, Braden Turnbull and Alicia Sabanero of Gantry arranged the loans for the private real estate investor. The 10-year, fixed-rate loans were secured through one of Gantry’s correspondent insurance company lenders and feature an introductory interest-only period, transitioning to 30-year amortization. Located in Torrance, the financed properties include the 10-building, 381,249-square-foot Skypark Medical and Office Center at Hawthorne Boulevard and SkyPark Drive and a 39,611-square-foot medical office building at 3640 Lomita Blvd.

July 25, 2025

Acquisitions California Loans Multifamily Western

Northmarq Brokers $33.5M Sale of Multifamily Property in Glendale, California

by Amy Works July 25, 2025

GLENDALE, CALIF. — Northmarq has brokered the sale and financing of TENTEN Glendale, a mid-rise apartment community at 111 N. Louise St. in Glendale. Amidi Group sold the asset to Regent Properties for $33.5 million. Built in 2019, TENTEN Glendale features 66 studio, one- and two-bedroom apartments with floor-to-ceiling windows, stainless steel appliances, in-home washer/dryers and quartz countertops. Community amenities include a rooftop pool and spa, a fitness center, business center and onsite office/retail space. Northmarq also arranged a $22.7 million bridge loan for the buyer, Regent Properties, through a correspondent relationship with a life insurance company. The transaction was structured on an initial two-year term with three one-year extension options. Vince Norris, Jim Fisher, Mike Smith and Tommy Yates of Northmarq’s Multifamily Investment Sales team represented the seller and secured the buyer in the deal. Joe Giordani, Brendan Golding and Scott Botsford of Northmarq’s Debt + Equity team arranged the financing for the buyer.

July 25, 2025

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 307-Unit Self-Storage Facility in Conroe, Texas

by Taylor Williams July 25, 2025

CONROE, TEXAS — Marcus & Millichap has brokered the sale of Cool Spaces Storage, a 307-unit self-storage facility located about 40 miles north of Houston in Conroe. The property consists of eight single-story buildings on a 12-acre site that were constructed in 2021. Of the facility’s 71,520 net rentable square feet (NRSF) of space, there is 33,600 NRSF of climate-controlled space, 2,500 NRSF of non-climate-controlled space and 35,420 NRSF of RV and boat storage space. Dave Knobler, Mixson Staffel and Charles LeClaire of Marcus & Millichap represented the seller, a Texas-based developer, in the transaction. The buyer was also not disclosed.

July 25, 2025

Development Multifamily Texas

Brem Group Acquires 230-Unit Milo on Westheimer Apartments in West Houston

by Taylor Williams July 25, 2025

HOUSTON — Multifamily investment firm The Brem Group has purchased The Milo on Westheimer, a 230-unit apartment complex in West Houston that was built in 2015. According to Apartments.com, the property features one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground, outdoor grilling and dining stations and package handling services. Brem Group obtained Freddie Mac financing and a $4.5 million preferred equity investment from Chicago-based investment firm 29th Street Capital to secure the acquisition. The seller was not disclosed.

July 25, 2025

California Loans Retail Western

PSRS Secures $9.5M Refinancing for Plaza Las Brisas Retail Center in Murrieta, California

by Amy Works July 25, 2025

MURRIETA, CALIF. — PSRS has arranged $9.5 million in refinancing for Plaza Las Brisas, a retail property in Murrieta. The 43,000-square-foot shopping center, which features 214 parking spaces, was 97 percent occupied at the time of financing. Trevor Blood of PSRS secured the 10-year loan with a 30-year amortization schedule through a correspondent life insurance company for the undisclosed borrower. Loan proceeds refinanced a maturing CMBS loan.

July 25, 2025

Acquisitions Colorado Retail Western

Thrive Preschool Acquires 12,014 SF School Building in Commerce City, Colorado

by Amy Works July 25, 2025

COMMERCE CITY, COLO. — Thrive Preschool has purchased a school property, located at 10000 Chambers Road in Commerce City, for $3.5 million. The 12,014-square-foot property features modern classroom layouts, a fully fenced outdoor play area and ample parking. Thrive Preschool will open enrollment for the new location this fall. Kyle Moyer, Elizabeth Morgan and Cody Stambaugh of Pinnacle Real Estate Advisors represented the buyer in the deal.

July 25, 2025

Newer Posts

Older Posts