Transactions: March 2023

A short list of recent major investment sales and financings from coast to coast.

25 Water Street in Manhattan. Rendering courtesy of CetraRuddy

25 Water Street in Manhattan. Rendering courtesy of CetraRuddy

SALES

PropertyLocationNo. of UnitsBuyerSellerNotes / Rep.ValueDate Announced
Southgate TowersMiami Beach, Fla.495AIR CommunitiesGumenick Properties –$289 Million9-Jan.
Ascent UptownCharlotte, N.C.300Sterling American PropertyGreystarNorthmarq arranged the deal.$138 Million3-Jan.
The EddyBoston259Tishman SpeyerThe Green Cities Co. –$135 Million10-Jan.
Stonebridge at Arlington HeightsArlington Heights, Ill.586Bayshore PropertiesThe Connor Group –$131 Million30-Dec.
Mulberry SouthNew York, N.Y.96Empire State Realty TrustBroad Street Development –$115 Million21-Dec.
Vida at Health VillageOrlando, Fla.285Conti OrganizationWood Partners –$107 Million22-Dec.

FINANCING

PropertyLocationType of FinancingNo. of UnitsLenderArranged ByBorrowerAmountDate Announced
Water StreetNew York, N.Y.Construction1,263Athene USA –GFP Real Estate, MetroLoft Management, Rockwood Capital$415 Million28-Dec.
444 Tower IIMiami, Fla.Construction506Truist Bank –Related Group$164 Million3-Jan.
The District at 1515Parsippany, N.J.Construction498New York Life Insurance Co.Cushman & WakefieldStanbery Development Group, Claremont Development, PCCP$147 Million17-Jan.
The District North MarketMontvale, N.J.Refinancing308Nationwide –The S. Hekemian Group$127 Million22-Dec.
Ascent South EndCharlotte, N.C.Construction324Wells Fargo Bank –Greystar$105 Million29-Dec.
Tree HouseJacksonville, Fla.Refinancing458U.S. Bank –Foundation for Affordable Housing$93 Million12-Jan.

To have your transaction featured, submit details to Agota Felhazi at [email protected].

Read the March 2023 issue of MHN.

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