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NEW YORK, N.Y. — Meridian Capital Group has arranged $325 million in acquisition financing for the purchase of the leasehold interest in an office property located in New York. Meridian arranged the financing for the borrower, RXR Realty LLC. GE Capital provided the five-year loan, which includes a fixed interest rate below 3 percent and interest-only payments for the full term. Rael Gervis of Meridian Capital Group’s New York City headquarters negotiated the financing. The 36-story office property was built in 1987 and is located at 32 Old Slip between Front and South streets. Architect Edward Durell Stone & Associates designed the 1.2-million-square-foot, Class A office tower. The property’s largest tenant is American International Group, whose 260,000-square-foot lease expires at the end of 2017. Other tenants in the building include Daiwa Capital Markets America, Crystal & CO., the U.S. Department of Education and the United States Census Bureau. 32 Old Slip is located on the Manhattan waterfront directly across from the Pier 11 ferry terminal. The property is within a short walking distance from several subway lines and the Staten Island ferry. The office tower also includes unobstructed views of the East River, Downtown Brooklyn and New York harbor. RXR …

SUPERIOR, COLO. — Bell Partners Inc. has acquired the 1,206-unit garden apartment community Horizons at Rock Creek in Superior for $250 million and renamed it Bell Flatirons. Bell Partners will manage the property. Simpson Housing LLLP was the seller of the community, which was built between 1997 and 1999. According to a release, the transaction was one of the largest individual multifamily transactions in Colorado history. Superior is located between Denver and Boulder, seven miles southeast of the University of Colorado Boulder. “This acquisition is consistent with our strategy to expand our footprint into high-growth, liquid and institutionally desirable markets that have compelling economic and apartment growth fundamentals,” says Jon Bell, president of Bell Partners. Bell Flatirons consists of three phases, Watters Edge, Prairie’s End and Cross Creek. The largest phase, Watters Edge consists of 586 units and is mainly townhomes and apartments with one- and two-car attached garages. Prairie’s End (360 units) and Cross Creek (260 units) are traditional garden apartments, each apartment home featuring its own garage. The community’s amenities include a 24,000-square-foot luxury clubhouse with an indoor basketball court, two racquetball courts, a movie theater and a large fitness room. The community also has a beach, a …

SAN FRANCISCO AND NEW YORK — Prologis Inc. (NYSE: PLD), a global owner and developer of industrial real estate, has signed definitive agreements to acquire the real estate assets and operating platform of KTR Capital Partners (KTR) and its affiliates for a total purchase price of $5.9 billion. Prologis has obtained a commitment from Morgan Stanley Senior Funding Inc. to provide a $1 billion bridge loan for the transaction. The 60 million-square-foot operating portfolio comprises 322 industrial properties in markets such as Southern California, New Jersey, Chicago, South Florida, Seattle and Dallas. The acquisition also includes 3.6 million square feet of industrial properties that are currently under construction and a well-located land bank with a build-out potential of 6.8 million square feet. The properties comprise KTR’s three co-investment funds and will be acquired by Prologis U.S. Logistics Venture (USLV), a 55-45 consolidated joint venture with Norges Bank Investment Management (NBIM), manager of the Norwegian Government Pension Fund Global. “It is rare to have the opportunity to acquire a portfolio of such high asset quality, customer profile and market composition that is so consistent with our own,” says Hamid Moghadam, chairman and CEO of Prologis. “I have known KTR’s leadership for …

PHILADELPHIA — Pennsylvania Real Estate Investment Trust (PREIT) (NYSE: PEI) and The Macerich Co. (NYSE: MAC) have reached a tentative agreement with the city of Philadelphia on a redevelopment and rebranding of The Gallery shopping mall and transit center in Philadelphia’s Center City district. If approved by Philadelphia City Council, the Philadelphia School Reform Commission and the Philadelphia Redevelopment Authority, The Gallery will be rebranded as the Fashion Outlets of Philadelphia at Market East following a two-year renovation that will open the site to Market Street. “We believe that the proposed redevelopment will position The Gallery as the next great urban marketplace in the United States, capitalizing on its central location where mass transit, tourism, the residential population and employment bases converge,” says Joseph Coradino, CEO of PREIT. “The redeveloped property will become the foundation of a new, vibrant Market East District, and we are excited to lead this effort.” The project will offer a combination of outlet retail in the form of luxury and moderate brands, traditional mall retail, flagship retail, artisanal food experiences and entertainment offerings. “The exciting plans for The Gallery are a strong strategic fit for Macerich’s proven redevelopment expertise, our leadership in the growing outlet sector and …

PHILADELPHIA — Tutor Perini Building Corp., a subsidiary of Tutor Perini Corp. (NYSE: TPC), has been awarded a contract to build the first phase of the East Market redevelopment project for National Real Estate Development in Philadelphia. The initial contract, which includes demolition and abatement, is valued at approximately $5.5 million and is currently underway. The construction phase of the contract, which will follow, is valued at approximately $112 million. The mixed-use development is located in Center City Philadelphia. At full build-out, Phase I of East Market will include an 18-story, 500,000-square-foot mixed-use complex that will encompass the entire city block between Market and Ludlow, 11th and 12th streets. “We’re pleased to be building again for this owner and proud to be making our contribution to the growth and revitalization of Girard Square,” says Peter Sukalo, executive vice president of Tutor Perini Building Corp.’s Philadelphia office. East Market will feature a 16-story, 322-unit apartment building spanning 230,000-square feet, a 19,000-square-foot amenity level, and an outdoor deck above a two-story, 105,000 square-foot split retail podium. In addition, the property will include 114,000 square feet of parking. National Real Estate Advisors, JOSS Realty Partners LLC, Young Capital LLC, and SSH Real Estate …