News
Silverstone Property Group Sells 247 East 28th Street
Owner-developer and affiliate of Madison Realty Capital, Silverstone Property Group has sold 247 E. 28th St., also known as The Grayson, for $99.7 million.
Economy Watch: Industrial Production Drops in January
The preliminary Reuters/University of Michigan consumer sentiment index for February came in at 81.2, unchanged from January. A dip in the current conditions component of the index, down 2.8 points to 94 — probably because of the recent weather — was offset by improvements in the expectations component, which were up 1.8 points to 73.
TODAY’S DEALS: JV to Renovate 1.5 MSF Dallas Tower
A joint venture acquires vacant Dallas office tower with the intent to convert; a 204-unit, Class A apartment trades for $11.3 million in Ohio; and $2.76M in acquisition financing is closed under Fannie Mae’s Small Loans program
Centerline Capital Unveils New Healthcare Lending Platform
Centerline Capital Group has announced the addition of a national healthcare lending platform. The new program will fund a variety of multifamily healthcare related projects such as community-based residential care, assisted living, memory care and nursing homes.
TODAY’S DEALS: Marcus & Millichap Arranges $14.2M Sale in LA
Marcus & Millichap represents the private buyer and seller in a 71-unit sale; Heritage Capital enters a value-add play in Charlotte; and Eastern Consolidated arranges the sale of a mixed-use property in Tribeca.
Wood Partners Opens North Carolina Apartment Property
The Bristol is now leasing in Morrisville, N.C. The 260-unit property was developed by Wood Partners as part of Park West Village, a 100-acre mixed-use development.
Hartz Buys 266-Unit Apartment in Austin
CBRE represents Hartz Mountain Industries in the acquisition of a 266-unit apartment in Austin’s central business district.
Economy Watch: Retail Sales Drop in January
Census Bureau says retail sales are down month-over-month, but up year-over-year. In addition, the MBA reports a 35 percent increase in January single-family sales from December.