Stellar Management Names Matthew Lembo, Ryan Jackson as Co-CEOs
Stellar Management, a New York‑based real‑estate investment firm, has appointed longtime managing partners Matthew Lembo and Ryan Jackson as co‑CEOs, succeeding founder Laurence “Larry” Gluck who died in June 2024. Lembo and Jackson, with ten‑plus years at the firm, assume leadership immediately. Stellar oversees more than 13,000 apartments and roughly 3 million square feet of office and retail space, primarily in NYC. The appointment follows recent activity such as the $20.3 million sale of a Brooklyn apartment building.
Ken Griffin and Goldman Properties Land $118M for Wynwood Office
Ken Griffin and Goldman Properties secured a $118 million loan from J.P. Morgan Chase to finance 545 Wyn, a 10‑story office tower in Miami’s Wynwood district. The duo purchased the 499,370‑square‑foot asset for $180 million in January, just three months after acquiring it. The...
Broward Health Lands $97M to Build Another Medical Office
Broward Health secured a $97 million loan from UMB Bank to construct a six‑story, 114,000‑square‑foot medical office in Deerfield Beach, featuring 75 exam rooms focused on cardiovascular, neuroscience and orthopedics. The facility, adjacent to the Broward Health North campus, is slated...
New York Life Lends $75M on Apartments at Queens Shopping Center
New York Life Real Estate Investors is providing a $75 million construction loan to Cord Meyer Development for the Residence at Bay Terrace, a 145‑unit multifamily project built atop the Bay Terrace Shopping Center in Queens. The development features two five‑story...
Market Insights Firm Optiver Expands by 92K SF at BXP’s 360 Park Avenue South
Optiver has expanded its footprint at BXP’s 360 Park Avenue South by an additional 92,000 square feet, bringing its total occupancy to roughly 115,000 square feet. The expansion is part of a broader leasing activity that adds four new tenants...
Electrified Industrial Outdoor Storage Gains Fans Among Investors and Tenants
Industrial outdoor storage is evolving into electrified industrial outdoor storage (EIOS), attracting investors and tenants seeking high‑capacity power sites. Rents for EIOS properties with 4,000 amps or more are up to 49% higher, and tenants are willing to pay a 20‑30%...
Sentinel’s Nicholas Stein On Multifamily Investment in the U.S. and Australia
Nicholas Stein, managing director at Sentinel Real Estate, outlines his unconventional path from the United Nations to commercial real‑estate finance and his role overseeing the firm’s multifamily portfolio. Sentinel now controls $9.6 billion in assets, managing over 29,000 apartment units across...
Colorado Investor Buys Downtown West Palm Rental for $79M
Colorado‑based Griffis Residential acquired the 263‑unit Griffis North Olive multifamily complex in downtown West Palm Beach for $78.5 million. The deal was financed with a $56.7 million Fannie Mae‑backed loan that runs until 2036 and marks the first purchase from the firm’s $500 million...
Airline Caterer Gate Gourmet Inks 63K-SF Lease at Queens’ Inwood Logistics Center
Airline catering firm Gate Gourmet signed a 63,437‑square‑foot lease at the Inwood Logistics Center in Queens, while Chinese third‑party logistics provider Yanwen Express took an additional 23,800 square feet. The two deals total 87,237 square feet on the 10‑building, 1970s‑era...
Life Sciences to Normalize in 2026 After Post-Pandemic Saturation: Report
Life sciences real estate is entering a normalization phase in 2026 after a pandemic‑driven construction surge left the market oversupplied. Investors are pulling back, vacancy rates are climbing, and venture capital funding fell 25% to $33 billion in 2025. Demand may...
Irvine Company Trades Pasadena Office for 32% Discount
The Irvine Company exchanged its 270,000‑square‑foot Western Asset Plaza in Pasadena for $97.9 million, roughly $360 per square foot, representing a roughly 32% discount from the $144.5 million it paid in 2012. The building, 90% occupied, was previously anchored by Western Asset...
Crestline Refis Coral Gables Office Building With $25M Loan
Westside Capital Group refinanced its 2000 Ponce De Leon Boulevard office building in Coral Gables with a $24.7 million five‑year loan from Crestline Investors, replacing a $20 million Amerant Bank loan taken in 2024. The eight‑story, 1999‑built property was bought for $14.1 million in 2022 and...
Retail Leasing in Midtown South Growing Faster Than Rest of Manhattan: Report
Midtown South’s retail market is rebounding sharply after pandemic‑induced closures, with storefront vacancy falling 19% over the past two years. The area’s leasing activity now outpaces Manhattan overall by 41%, driven largely by a mixed‑use rezoning that permits new residential...
Savills Reaches $1.1B Deal to Acquire Eastdil Secured
Savills has closed a $1.1 billion acquisition of Eastdil Secured, buying out Guggenheim Investments and Temasek Holdings. The deal brings a leading U.S. real‑estate investment‑banking platform under Savills’ global advisory umbrella. Leadership will shift, with founder Roy March becoming executive chairman...
Eagle Partners Pays $163M for Two Senior Housing Complexes Near San Diego
Eagle Partners, an affiliate of Eagle Real Estate Investment Group, closed a $162.5 million purchase of two adjacent senior housing complexes in Escondido, San Diego County, adding 551 units to its portfolio. The deal was financed primarily by J.P. Morgan Chase...
Peachtree Lends $103M in Miami Beach Convention Center Hotel Recap
Peachtree Group originated a $103 million bridge loan to recapitalize the Hilton Miami Beach Convention Center Hotel, a joint venture of The Jesta Group, The Lotus Group, and Chetrit Group. The financing will fund the completion of the 289‑key property, scheduled...
Le Colonial Plans Manhattan Return With 10K-SF Restaurant at 50 West 57th Street
Le Colonial, the French‑Vietnamese restaurant that shuttered its New York flagship in 2019, has secured a 15‑year lease for roughly 9,600 sq ft at the base of 50 West 57th Street, slated to open in summer 2027. The new space will accommodate 215...
Property Management Firms Akam, Orsid Acquired by Audax Private Equity
Audax Private Equity announced the acquisition of Akam and its subsidiaries, including Orsid New York, marking its entry into residential property management. The deal follows Akam’s recent merger with Metro Management and its November acquisition of Orsid, which added roughly...
Steve Cohen’s Point72 Takes 60K SF at Tishman Speyer’s Spiral
Steve Cohen’s Point72 Asset Management has signed a lease for 59,746 square feet across the 31st floor and part of the 21st floor of Tishman Speyer’s 66‑story Spiral tower in Hudson Yards. The lease, priced at $130 per square foot,...
Welltower Secures $6.25B Revolving Credit Facility to Fund Capital Deployment
Welltower announced a $6.25 billion revolving credit facility, split into a $4.25 billion A‑tranche maturing in 2030 and a $2 billion B‑tranche due in 2029, with optional extensions. The line will be used to retire more than $1.25 billion of existing debt and may...
CIRE Equity Pays $116M for Industrial Campus in L.A.’s San Fernando Valley
CIRE Equity, a San Diego‑based private equity firm, closed on a 19‑acre, 307,000‑square‑foot industrial campus in Van Nuys for $116 million. The two adjacent, fully‑leased buildings were purchased from Link Logistics, Blackstone’s industrial arm, with $136.5 million in acquisition financing from PGIM Real...
Aviation Services Firm ASAK Solutions Leases 17K-SF Warehouse by JFK Airport
Aviation services provider ASAK Solutions signed a 16,515‑square‑foot lease on the ground floor of Longpoint Partners’ 152‑15 Rockaway Boulevard warehouse in Jamaica, Queens, at $28 per square foot. The space, featuring eight drive‑in loading doors, is positioned within a short...
NoMad’s Senton Hotel Trades Hands for $27M
Stayway Holding Group, linked to Lee Fung Fong and Henry Zheng, purchased the 71‑room Senton Hotel in Manhattan’s NoMad district for $27.2 million. The seven‑story property at 39 West 27th Street was sold by Calvin Kamuluddin, with Avison Young brokering the...
Bernstein Proposes 24-Acre, Mixed-Use Development in Reston, Va.
Bernstein Management has filed a rezoning application for a 24‑acre mixed‑use project called Reston Crossing, located just south of the Reston Town Center Metro station. The development will deliver 1,650 residential units, roughly 1.5 million square feet of office space and...
Parent Company of Food Bazaar Buys Astoria Retail Property for $101M
Bogopa Enterprises, the parent of Food Bazaar, and Shorewood Real Estate Group purchased the 42-02 Northern Boulevard grocery property in Astoria for $101.1 million. The site houses a Food Bazaar store with 74,637 sq ft of retail space and carries 656,464 sq ft of air...
M&T Realty Capital Refis Buffalo Tower With $120M CMBS Loan
M&T Realty Capital closed a $119.5 million CMBS loan to refinance Douglas Development’s Seneca One tower in downtown Buffalo. The mixed‑use asset comprises over 800,000 sq ft of office space, roughly 70,000 sq ft of ground‑floor retail and 115 luxury apartments. The refinancing, delayed by...
TD Securities Expands to 181K SF at SL Green’s 125 Park Avenue
TD Securities, the investment arm of TD Bank, has expanded its footprint at SL Green’s 125 Park Avenue to 181,447 square feet, adding 51,081 square feet on the 21st and 22nd floors. The new space brings its total occupancy to the eighth, 19th,...
PGIM Provides $103M Facility to Alterra IOS Secured By 23 U.S. Assets
Alterra IOS secured a $103 million senior debt facility from PGIM’s real‑estate credit arm, backed by 23 industrial outdoor storage properties across 18 U.S. markets. The financing will fund future IOS acquisitions, marking Alterra’s first debt partnership with PGIM. Executives called...
Carlyle Group Inks 150K-SF Deal at SL Green’s 245 Park Avenue
Carlyle Group has signed a 10‑year lease for 150,036 square feet at SL Green’s 245 Park Avenue and an additional 52,121 square feet at Irvine Company’s 200 Park Avenue, bringing its new Manhattan footprint to more than 202,000 square feet. The 245 Park lease commands $175...
S3 Capital Lends $49M for New Jersey Multifamily Project
S3 Capital has extended a $49 million construction loan to RedHoek+ for a new multifamily development in Allenhurst, New Jersey. The project will deliver 28 townhomes and 23 affordable‑rate apartments, complementing a planned 30‑unit condominium on Main Street. S3’s managing director...
Investment Firm Brown Advisory Takes 35K SF at 520 Madison Avenue
Brown Advisory, a leading investment advisory firm, has signed a 15‑year lease for 34,748 square feet at Tishman Speyer’s Plaza District tower at 520 Madison Avenue. The lease covers the entire 27th floor and part of the 26th floor, and the...
Phillips Edison Buys SoCal Shopping Plaza for $26M
Phillips Edison & Company, a retail‑focused REIT, acquired the 46,786‑sq‑ft West Covina shopping plaza for about $25.8 million. The center, located near Plaza West Covina, was 88 % occupied with tenants such as Bank of America, California Fish Grill, Urbane Cafe and...
Excelsior Care Group Buys Queens Nursing Home for $75M
Excelsior Care Group announced the acquisition of Union Plaza Care Center, a 280‑bed nursing home in Flushing, Queens, for $75 million. The 146,042‑square‑foot facility was purchased from Marx Development, which refinanced the property for $32 million in 2022. The transaction adds to...
Moishe Mana Buys Discounted Downtown Miami Office Tower for $110M
Moishe Mana purchased the 31‑story One Downtown office tower in downtown Miami for $110 million, securing roughly a 14 percent discount from its 2018 price. The 770,195‑square‑foot building houses 450,000 sq ft of office space, a 750‑spot garage, and ground‑level retail, and is currently...
Dwight Capital Expands Servicing Platform With Midland State Bank Deal
Dwight Capital has purchased Midland States Bank’s HUD mortgage‑servicing rights portfolio, encompassing more than $500 million in unpaid principal balance tied to skilled nursing facilities, assisted living centers, and hospitals. The acquisition pushes Dwight’s total loan‑servicing assets above $15 billion, reinforcing its...
Multifamily Man: The Dermot Company’s Andrew Levison
Andrew Levison, who started buying small New Haven apartments after college, now serves as chief investment officer of The Dermot Company, a 35‑year‑old multifamily firm that manages roughly $5 billion in assets and over 7,500 units. Under his leadership Dermot has...
Witnick Real Estate Buys Three Upper West Side Apartment Buildings for $23M
Witnick Real Estate Partners purchased three adjacent walk‑up apartment buildings on Manhattan’s Upper West Side for $22.5 million from Schreiber Properties. The properties—206, 202 and 204 West 96th Street—total 53 units and were fully renovated in 2024 with modern kitchens and...
Bally’s Pays $157M for City-Owned Land in the Bronx for Casino
Bally’s has purchased a 16‑acre, city‑owned parcel in the Bronx for $156.6 million to develop a 500,000‑square‑foot casino complex. The site, part of the former Golf Links at Ferry Point, will anchor a 3‑million‑square‑foot entertainment hub that includes a 500‑room hotel...
Affinius Capital Provides $110M Acquisition Loan for Dermot’s Palm Beach Purchase
Affinius Capital originated a $110 million acquisition loan for Dermot Company’s purchase of The Quaye, a 340‑unit Class‑A multifamily complex in Palm Beach Gardens. Dermot, together with partners PGGM and TD Asset Management, bought the asset from PGIM for $131.8 million, adding...
GO Residential REIT Buys Three New York City Apartment Complexes
GO Residential REIT is set to acquire three Manhattan apartment complexes— Ivy Tower for $150.5 million and the 411 and 444 West 35th Street towers for $230 million—bringing the total transaction value to roughly $380.5 million. The properties add 320 units in a 45‑story tower...
MDH Partners Acquires Inland Empire Warehouse for $105M
MDH Partners, an Atlanta‑based investment firm, acquired a 410,000‑square‑foot warehouse in Chino, California for $105 million, paying roughly $256 per square foot. The purchase is part of a broader seven‑property industrial portfolio totaling 1.6 million square feet across five states. The portfolio...
Tishman, GIC To Sell Midtown’s CitySpire to Delshah, AM Property for $135.7M
CitySpire, the 70‑story Midtown office‑condo tower, is under contract to be sold by Tishman Speyer and GIC for $135.7 million to DelShah Capital and A.M. Property Holding. Newmark arranged the transaction and is sourcing acquisition debt at a 65% loan‑to‑cost ratio. The...
SoCal Apartments Set for Conversion to Affordable After $75M Sale
The Towbes Group sold its 272‑unit Hancock Terrace complex in Santa Maria for $75 million to a consortium of Step Up Housing, Sack Capital Partners and Align Financing Partners. The buyers intend to convert the 2016‑built property into affordable housing, marking...
Howard Hughes Holding’s Earnings Wobble as Ackman Asks For More Time
Bill Ackman's Pershing Square bought Howard Hughes Holdings for $900 million in May 2025 and is reshaping the commercial‑real‑estate firm into a diversified holding company. The firm announced a $2.1 billion acquisition of Vantage Group’s insurance business, slated to close this quarter....
