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NEW YORK — HFF has arranged $85 million in financing for a mixed-use portfolio encompassing 19,409 square feet of retail and 82 residential rental units in New York’s Meatpacking District. HFF worked exclusively on behalf of the borrower, a joint venture between Tavros Holdings LLC and Arel Capital, to secure the floating-rate loan through Blackstone Mortgage Trust. Loan proceeds were used to acquire the property. The portfolio is situated on an 18,453-square-foot lot at the corner of West 14th Street and Ninth Avenue near Chelsea Market, High Line Park, Google’s New York headquarters, the new Whitney Museum and Hudson Yards.  The residential component of the property is 100 percent leased and is comprised of three buildings containing a total of 59 studio, 18 one-bedroom and five two-bedroom units. The retail component is leased to tenants such as Scarpetta, The Diner, Le Pain Quotidien, L’Occitane and Solstice Sunglasses. More than 200 feet of total retail street frontage faces the triangular Ninth Avenue Public Plaza, a notable pedestrian space created in the middle of Ninth Avenue. The portfolio also includes available development rights along West 15th Street. HFF managing director Steven Klein and director Jennifer Keller led the team representing the borrower. …

BOSTON — Berkshire Group, WS Development and Boston Global Investors (BGI) have begun construction on One Seaport Square, a three-acre mixed-use development located within the 23-acre Seaport Square. Seaport Square is the largest master-planned project in the city of Boston. According to The Boston Globe, One Seaport Square’s development costs will total roughly $600 million. Upon completion, which is expected in 2017, the development will include two residential towers, named The Benjamin and VIA, constructed above 250,000 square feet of retail space across the towers’ first three floors. “In our view, the Seaport District is an important growth area in Boston with its emphasis on residential, retail and commercial space all in one neighborhood,” says Steve Wood, partner and head of development of Berkshire Group. “With companies moving into the area and creating new employment opportunities, we expect Seaport Square will attract residents who desire urban living in the Seaport District in close proximity to both professional and entertainment options.” Berkshire Group has partnered with BGI to own and develop the residential component of Seaport Square. WS Development will develop, own and manage the retail component of Seaport Square. One Seaport Square is bordered by Seaport Boulevard, Northern Avenue, Fan …

MIAMI — Property Markets Group has acquired the Empire World Towers site, a two-acre development site in Miami’s urban core, for $80 million. The site is located downtown at 300-330 Biscayne Blvd. The Empire World Towers site is approved for two 93-story towers that can contain 1,557 residential units. The mixed-use towers are also approved for 24,741 square feet of retail space and 3,317 square feet of office space. Upon completion, the towers would be the East Coast’s tallest structure south of Manhattan. The development is situated directly across from Bayfront Park. The Empire World Towers enjoy permanently preserved bay and ocean views. The project will be within walking distance to American Airlines Arena, Miami Dade College, Bayside Marketplace and the 765,000-square-foot Miami World Center Mall, which will soon be developed. Luis Flores and Rebecca Sarelson of Arnstein & Lehr LLP represented Property Markets Group in the transaction. The seller, a trust established for the benefit of CDR Creances S.A.S., was represented by HFF’s Jaret Turkell, Hermen Rodriguez, Manuel de Zárraga and Scott Wadler. Marcos Daniel Jiménez and Gregg Fierman of McDermott, Will & Emery represented CDR in the sale and litigation. “This transaction is highly significant in that it …

CORAL GABLES, FLA. — Pebblebrook Hotel Trust (NYSE: PEB) has acquired The Westin Colonnade Coral Gables for $59.4 million. The 157-room hotel is located in Miami on Miracle Mile in the heart of Coral Gables, a suburb of Miami. The hotel will continue to be operated by Davidson Hotels and Resorts. “We’re excited about the acquisition of The Westin Colonnade Coral Gables and the ability to further expand our presence in Miami, one of the fastest growing markets in the country,” says Jon Bortz, chairman and CEO of Pebblebrook. “This hotel is our second hotel investment in Miami and our first in the Coral Gables submarket. The property’s excellent location in this affluent and dynamic market makes the hotel a leader among its competitors, and its upside opportunity makes it an excellent addition to our high-quality portfolio.” The hotel is located in the Coral Gables commercial district, just south of downtown Miami. It is located near Merrick Park, Miami Marlins Park, the University of Miami, Coral Gables Museum, golf courses and abundant shopping. The hotel’s location is also near corporate tenants including Club Med, ExxonMobil, IBM, Bacardi, Intelsat and Del Monte Fresh Produce. The immediate area includes 140 gourmet restaurants, …

BOSTON — HFF (NYSE: HF) has secured a $500 million refinancing for International Place, a 1.8 million-square-foot, Class A office complex in Boston’s Financial District. Working on behalf of a joint venture between The Chiofaro Company and an institutional partner, HFF placed the fixed-rate loan with New York Life Real Estate Investors and Northwestern Mutual. International Place was completed in 1992. It features two interconnected office towers in the heart of the Financial District. The property offers 360-degree unobstructed views of Boston’s downtown waterfront. Situated at the foot of the Rose Kennedy Greenway, tenants of International Place have easy access to South Station, Interstates 93 and 90, and Logan Airport via the Ted Williams and Callahan/Sumner Tunnels. Senior Managing Director Riaz Cassum and real estate analyst Patrick McAneny led the HFF debt placement team representing the borrower. Major tenants at International Place include investment management firm Eaton Vance; law firms Choate Hall & Stewart and Proskauer Rose; and PayPal. The retail portion of the complex houses tenants such as the Palm Restaurant, Starbucks, Au Bon Pain, Santander Bank and a soon-to-open Republic Fitness. The Chiofaro Company is a privately held, independent firm engaged in the development, investment, leasing, management and …

HONOLULU — The Howard Hughes Corp. (NYSE: HHC) has secured a $600 million non-recourse construction loan from Blackstone Real Estate Debt Strategies for the development of Waiea and Anaha, the first two condominium towers at Ward Village, a 60-acre urban master-planned community in Honolulu. Randy Fleisher of the Dallas Capital Markets group of JLL arranged the financing. “Our vision for Ward Village is to create the premier master-planned community in Hawaii offering an unrivaled vibrant urban lifestyle in the heart of Honolulu,” says Grant Herlitz, president of The Howard Hughes Corp. based in Dallas. “The closing of this loan marks another important milestone as we create the quintessential 21st century neighborhood.” Ward Village will include more than 4,000 high-rise residences and more than 1 million square feet of retail space surrounded by outdoor public gathering places and pedestrian-friendly streets. A four-acre public park will anchor the neighborhood. James K.M. Cheng, an internationally recognized architect based in Vancouver, in collaboration with Honolulu-based firm WCIT Architecture, designed Waiea. The tower will include 171 residences and approximately 8,000 square feet of new retail space. Construction began in June with completion projected in late 2016. Solomon Cordwell Buenz, a global architecture and design firm, …

AUSTIN, TEXAS — An affiliate of Hyatt Hotels Corp. (NYSE:H) has acquired its partners’ 92 percent interest in the 491-room Hyatt Regency Lost Pines Resort and Spa in Austin for approximately $143 million. Hyatt also assumed approximately $65 million of property level debt. The total price, inclusive of debt, implies a valuation of approximately $450,000 per key. The resort has operated as Hyatt Regency Lost Pines Resort and Spa since it opened in 2006. Dallas-based Woodbine Development Corp. developed the resort and has served as the asset manager and managing general partner of Bastrop Resort Partners LP, the partnership entity that has owned the resort since its opening. Hyatt was one of the original co-owners and has managed the resort since its debut. “Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area, where Hyatt has a broad spectrum of lodging experiences,” says Steve Haggerty, global head of capital strategy, franchising and select service for Hyatt Hotels. “This transaction is consistent with our strategy to focus our investing in key areas such as resorts and group-oriented hotels. The resort’s financial and operating success of this property has …

CHICAGO — Aviv REIT has agreed to purchase 29 properties from Diamond Senior Living for $305 million. All of the properties are currently triple-net leased to new Aviv operator Laurel Health Care for a remaining term of 15 years. The acquisition includes 23 skilled nursing facilities (SNFs), four assisted- iving facilities, one independent living facility and one office building. The properties are spread throughout five states, including 11 facilities in Michigan, eight facilities in Ohio, seven facilities in North Carolina, one facility in Virginia and another in Indiana. It also includes Laurel’s corporate office building in Ohio. Two of the properties are leasehold interests, which have terms expiring in 2025 and 2020. Both of those properties will be subleased to Laurel until the end of their respective terms. Aviv will fund about 40 percent of the purchase price, or $125 million, with cash and its available credit line. The remaining 60 percent, or $180 million, will be financed through a secured loan that should be made by GE via its business unit, GE Capital, Healthcare Financial Services. “This is a strategic investment for us at a seminal moment having just announced our merger with Omega Healthcare Investors,” says Craig Bernfield, …

NEW YORK CITY — Vornado Realty Trust (NYSE: VNO) has agreed to sell 1740 Broadway, a 601,000-square-foot office building in Manhattan. The price is $605 million, or just over $1,000 per square foot. The financial statement gain will be approximately $443 million, while the tax gain will be $483 million, deferred as part of a like-kind exchange for the acquisition of the St. Regis Fifth Avenue retail. The sale of 1740 Broadway is subject to closing conditions and is expected to be completed by the end of the year. The company has also completed the purchase of the retail condominium of the St. Regis Hotel and the adjacent retail town house for $700 million. Vornado owns approximately 75 percent of the joint venture which owns the property. Vornado also owns 689 Fifth Ave. on the same block. In total, the company owns 19.8 million square feet of Manhattan office space in 31 properties, four Manhattan residential properties totaling 1,655 units and 2.4 million square feet of Manhattan street retail space. Vornado is a real estate investment trust (REIT) with a portfolio of more than 100 million square feet, primarily located in the New York and Washington, D.C. areas. Vornado’s stock price …

PHOENIX — Berkadia has arranged the sale of a major portion of the MSI National Apartment Portfolio for a total projected sales value of more than $335 million. The apartment communities are located throughout Texas, Ohio, Louisiana, Kansas, Oklahoma and Tennessee. To date, Berkadia has closed $239 million in sales from the portfolio, involving 18 assets across six states. In addition to the already closed transactions, the remainder of the portfolio, consisting of eight properties and 1,230 units, is scheduled to close before the end of the fourth quarter of 2014. The remaining properties are expected to close at a combined price of just under $100 million. “The MSI National Portfolio is certainly one of the largest listed and sold transactions across such a diverse array of markets. Berkadia was well situated with national resources to execute a large, multi- channel marketing campaign on a listing of this magnitude, which resulted in a high level of interest on a local, regional and national basis; maximizing the proceeds for the stakeholders of these assets,” says Brent Long, president of Berkadia investment sales. In 2011, the U.S. District Court placed the portfolio of 5,380 units into receivership due to distressed ownership following …