REBusinessOnline

CBRE Arranges $180M Construction Loan for Life Sciences Development in New Haven, Connecticut

NEW HAVEN, CONN. — CBRE has arranged a $180 million construction loan for the development of a life sciences facility at 101 College Street in New Haven.The project will total 525,000 square feet and include office and biomedical lab space. The property is already over 70 percent pre-leased to tenants including BioLabs and Arvinas, which will move its headquarters to the property. Yale University will serve as the anchor tenant, occupying 125,000 square feet of space in the building and …

Bloomingdale’s Announces Smaller-Footprint Bloomie’s Store to Open in Metro Washington, D.C.

FAIRFAX, VA. — Bloomingdale’s has announced plans to open its first Bloomie’s store at the Mosaic District shopping center in Fairfax on August 26. Bloomingdale's is the latest retailer to unveil an updated store concept designed to reflect the changing wants and needs of shoppers following the COVID-19 pandemic.The new, smaller-footprint concept will span 22,000 square feet and feature an evolving mix of merchandise from top brands alongside tech-enabled stylist services and a …

JLL Arranges $296M Refinancing for Trophy Office Tower in Chicago’s River North

CHICAGO — JLL’s Capital Markets group has arranged a $296 million loan for the refinancing of 321 N. Clark, a 936,240-square-foot trophy office tower in Chicago’s River North submarket. The 35-story property was originally built in 1987 and underwent an $85 million renovation in 2019.The office tower offers a riverfront location and is served by a variety of public transportation options. Amenities include a fitness center, tenant lounge, conference center, parking garage and bike …

Deloitte Signs Anchor Lease at Foundry Mixed-Use Project in Downtown Cincinnati

CINCINNATI — Deloitte, one of the Big Four global accounting firms, has signed a 30,000-square-foot anchor lease at Foundry, a mixed-use development underway in downtown Cincinnati. The developer and landlord is Cincinnati Center City Development Corp. (3CDC), a 501(c)(3) nonprofit developer that was created in 2003 by a City of Cincinnati task force.“We hope this is the first of many exciting announcements to come over the next few months, as we work to fill this essential building in …

CP Group Acquires 1.2 MSF CNN Center Office Building in Atlanta

ATLANTA — CP Group has acquired One CNN Center, a 1.2-million-square-foot office building in downtown Atlanta, for an undisclosed price. The acquisition was completed via a joint venture with funds managed by Miami-based Rialto Capital Management LLC.The transaction makes CP Group the second largest office owner in the state of Georgia, according to the company. The seller, WarnerMedia, will lease back the CNN Center for several years. WarnerMedia is the parent company of 24-hour news …

CP Group Acquires One Biscayne Tower in Downtown Miami for $225M

MIAMI — CP Group, formerly Crocker Partners, has acquired One Biscayne Tower, a 38-story office tower in downtown Miami, in a joint venture with funds managed by Rialto Capital Management and Sabal Capital Partners. Dow Chemical sold the asset for $225 million, according to the Daily Miami News. L&B Realty has managed One Biscayne Tower on behalf of Dow for the last 20 years.Located along the waterfront, the property overlooks Bayfront Park, Biscayne Bay, Miami Beach and the Atlantic …

Partnership Receives $223M in Construction Financing for Sendero Verde Affordable Housing Project in Harlem

NEW YORK CITY — A partnership between Jonathan Rose Cos., L+M Development Partners and Acacia Network has received $223 million in financing for the second and final phase of Sendero Verde, an affordable housing project in East Harlem that will add 347 units to the local supply.The development team topped off the 360 units that were part of Phase I of the project in November. Construction of Phase II is set to begin in the coming weeks and completion is slated for 2024. Units will serve …

SL Green Receives $3B Loan for Refinancing of One Vanderbilt Office Building in Manhattan

NEW YORK CITY — Locally based real estate giant SL Green Realty Corp. (NYSE: SLG) has received a $3 billion loan for the refinancing of One Vanderbilt, a 1.7 million-square-foot office tower in the East Midtown neighborhood of Manhattan.Designed by Kohn Pederson Fox Associates and located across the street from Grand Central Station, One Vanderbilt rises 77 stories and 1,401 feet, making it the tallest building in Midtown Manhattan. SL Green developed the property, which carried a price …

Ventas Agrees to Acquire Independent Living Owner New Senior Investment Group in $2.3B Deal, Including 103 Properties

CHICAGO AND NEW YORK CITY — Ventas Inc. (NYSE: VTR) has entered into a definitive merger agreement to acquire New Senior Investment Group (NYSE: SNR), a New York City-based owner of independent living communities across the country. The deal between these two seniors housing real estate investment trusts (REITs) is valued at $2.3 billion, including $1.5 billion of debt.The transaction will bolster the number of independent living communities for Ventas, which as of March 31 owned (fully …

Swerdlow Group Breaks Ground on $300M Sawyer’s Walk Mixed-Use Development in Miami

MIAMI — Swerdlow Group has broken ground on Sawyer’s Walk, a 1.4 million-square-foot mixed-use development in Miami’s Overtown neighborhood that will include 250,000 square feet of retail space below 578 apartments designated for low-income seniors. Swerdlow Group is collaborating with the Southeast Overtown/Park West Community Redevelopment Agency (CRA) on the $300 million project.Swerdlow Group and its partners, Delray Beach, Fla.-based SJM Partners and Miami-based Alben Duffie, …

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