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.
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 …
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.
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.
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.
NASHVILLE, TENN. — Wood Partners is set to break ground on Alta Beacon, a 328-unit apartment complex located in Nashville. Construction will begin next month, with the first units scheduled for delivery in the second quarter of 2026. Situated on the edge of the city’s Wedgewood-Houston neighborhood, the wrap-style community will feature a mix of studio, one- and two-bedroom floorplans and will span five stories. Amenities at Alta Beacon will include a clubhouse, fitness center, resort-style swimming pool, indoor sky deck with a large exterior deck, dog yards, pet spa and gate-protected structured parking.
CARY, N.C. — The Sigmund Cos. (TSC) has acquired Millpond Village, an 84,373-square-foot grocery-anchored retail center located in Cary, a suburb of Raleigh. TSC will operate the property as part of a joint venture with a Washington, D.C.-based institutional partner. Anchored by Publix, Millpond Village features other national tenants such as Dollar General and Starbucks. Berkeley Capital Advisors represented the undisclosed seller in the transaction. CBRE will handle leasing at Millpond Village, while Cushman & Wakefield will provide management services.
DALLAS — JLL has arranged a $130 million loan for the refinancing of a portfolio of three build-to-rent (BTR) properties, two of which are in Texas, totaling 608 units. The two Texas properties include Vireo Medical District, a 210-unit property in the northern Dallas suburb of McKinney, and Vireo Twelve Oaks, a 217-unit property in the northern Austin suburb of Georgetown. The third property is located in the Tampa area. Collectively, the three properties are known as the Vireo BTR Portfolio. Jim Curtin, Lauren Dow, Rex Cruz and Obi Eboh of JLL arranged the debt through KeyBank on behalf of the borrower, Georgia-based developer The Vireo Group.
GLENDALE, CALIF. — JLL Capital Markets has arranged a $125 million loan from Oaktree Capital Management for The Amidi Group’s TenTen Campus in Glendale. The loan enables The Amidi Group to retire existing construction debt on the eight-story, newly developed property. Residents began moving in February 2025. The property was 95 percent occupied at the time of the transaction’s closing. Spanning 220,018 square feet, the community’s 228 units are offered as studios, one- and two-bedroom apartments. Amenities include a resort-style pool and hot tub, a rooftop terrace with skyline views, fitness center with steam room and sauna, a business center and approximately 5,200 square feet of ground-floor retail space. Units feature floor-to-ceiling windows, stainless-steel appliances, in-unit washers and dryers, quartz countertops and personal balconies in select units.
DALLAS — BKM Capital Partners has purchased a portfolio of three industrial properties totaling 200,343 square feet in Texas. The properties include Plaza Circle II, which consists of 68,043 square feet across four buildings in Dallas-Fort Worth’s South Stemmons submarket; GSW Circle I, which comprises 73,600 square feet across five buildings in Grand Prairie; and Kinghurst Circle, which totals 58,700 square feet across two buildings in southwest Houston. Trent Agnew, Charlie Strauss, Tom Weber, Pauli Kerr, Lance Young, Brennan Fewin and Alex Fronterhouse of JLL represented the seller, California-based Circle Industrial, in the transaction. The portfolio was 98 percent leased at the time of sale.