Rosewood Realty Group announced the $36.5 million sale of 159-161 West 54th Street, a 15-story, mixed-use building on the corner of West 54th and Seventh Avenue in Hell’s Kitchen. Rosewood Realty’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the buyer,  Duc Huang, a private family office and the sellers, Sol... The post Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building appeared first on Real Estate Weekly. Rosewood Realty Group announced the $36.5 million sale of 159-161 West 54th Street, a 15-story, mixed-use building on the corner of West 54th and Seventh Avenue in Hell’s Kitchen. Rosewood Realty’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the buyer,  Duc Huang, a private family office and the sellers, Sol Kurtz, a private investor and Rubin Schron of Cammeby’s International. The building features 42 residential apartments, five commercial spaces and 11 office spaces. The 85,309 sq. ft. building, that was built in 1923, also features 27,806 sq. ft. of air rights.  The building sold for a Caprate of 3.86%, a GRM of 10.5 and a price per sq. ft. of $427. The building was 70% free market apartments and a large portion of the building was delivered vacant.“This transaction represents a prime trophy Manhattan elevator asset with the ability to implement a value-add strategy through conversions and renovations to the vacant apartments,” said Fuchs. “Even in a tough interest rate environment, we were able to close this transaction smoothly.” “Also the property traded in the most tenuous real estate environment in the past 30 years,”  added Khakshoor. “The fact that we were able to achieve a sub 4% cap rate goes to show that there will always be a strong demand for prime Manhattan elevator buildings.” The post Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building appeared first on Real Estate Weekly......»»

Avison Young has arranged a 99-year long-term ground lease at 301-307 Third Avenue on behalf of Snake River Development, who is managed by BNS Real Estate. The value of the long-term lease is estimated at $21.5 million, which equates to $300 per zoning floor area (ZFA), and contains an existing... The post Avison Young arranges 99-year ground lease for an estimated $21.5 million appeared first on Real Estate Weekly. Avison Young has arranged a 99-year long-term ground lease at 301-307 Third Avenue on behalf of Snake River Development, who is managed by BNS Real Estate. The value of the long-term lease is estimated at $21.5 million, which equates to $300 per zoning floor area (ZFA), and contains an existing two-story building, with flexibility in development plan for market rate rentals, affordable rentals, or institutional use. The owner was represented by Charles Kingsley, Principal; Neil Helman, Principal; Erik Edeen, Principal and Director of Tri-State Investment Sales; James Nelson, Principal and Head of Tri-State Investment Sales; and Brandon Polakoff, Principal and Executive Director of Tri-State Investment Sales, all located in Avison Young’s New York City office. The lessee, Naftali, represented themselves. “Our client had a desire to continue their ownership of this asset at a prominent corner at the confluence of two Manhattan neighborhoods – Gramercy and Kips Bay,” said Kingsley. “This transaction allows them to remove any management burden and the ability to transfer the development risk to another party in exchange for a long-term annuity.” The corner lot with a combined 172’ of frontage along Third Avenue and East 23rd Street offers flexibility in development along with a desirable location near Madison Square, Union Square, and Stuyvesant Square Parks. Flexibility in proposed development plans allow for a maximum of 72,268-square-feet (sf) of ZFA as-of-right or 86,721-sf of ZFA when taking advantage of an Inclusionary Housing bonus. The post Avison Young arranges 99-year ground lease for an estimated $21.5 million appeared first on Real Estate Weekly......»»

Artificial intelligence (AI) and machine learning are touching the corners of every industry in a rapidly changing and exciting way. The data center will serve as the backbone to support its explosive growth at massive scale. According to JLL’s new 1H 2023 North American Data Center Report, AI requirements, along... The post AI and cloud adoption propel data center demand to record levels for 2023 appeared first on Real Estate Weekly. Artificial intelligence (AI) and machine learning are touching the corners of every industry in a rapidly changing and exciting way. The data center will serve as the backbone to support its explosive growth at massive scale. According to JLL’s new 1H 2023 North American Data Center Report, AI requirements, along with continued adoption of cloud services, are the main drivers of hyperscale expansion, driving record growth in the data center sector. The first half of 2023 finished with record absorption as hyperscalers, financial firms, healthcare companies and other major enterprises raced to secure data center space. Most of the supply that will be delivered in the third and fourth quarter of 2023 has already been preleased or is under exclusivity. Due to primary market power constraints, supply coming online in 2024 will also be preleased, resulting in limited options for users who are not in the market far in advance of their preferred go-live date.  “The data center industry is continuing to experience explosive growth in demand which is leading to completely sold-out primary markets, secondary market expansion and the development of newer tertiary markets,” said Andy Cvengros, Managing Director, JLL. “Major markets and most secondary markets have reached a state of supply and demand imbalance; the development timeline for new data centers has grown to three to five years – or more in some cases. If you want a new data center within that timeframe, start planning for it now, as we don’t see any sign of this demand slowing or the power situation getting any better.” When it comes to primary data center markets, Phoenix and the Northwest have outpaced Northern Virginia as the leader in absorption with 194.5 MW and 185.9 MW, respectively, compared to 184 MW for the first half of 2023. Primary markets already have a limited inventory of colocation space, leading data center operators to increase pricing by up to 20 to 30%. JLL Research anticipates secondary markets, including Columbus, Salt Lake City, Reno and Austin, to continue to support the overflow from these constrained primary markets.    AI changes everything AI is expected to accelerate this demand as more and more industries adopt AI as a tool to achieve corporate objectives. The last three years have seen massive investments in AI and machine learning through venture capital, private equity and M&A. So far, 2023 has seen $32 billion in investments through Q1.  “AI implementation requires significant computing power and resources, which translates to increases in leasing,” said Kari Beets, Senior Manager, Research, JLL. “AI needs also require higher power densities which require additional infrastructure in most data centers.”  Additionally, the demand for edge computing is accelerating. Generative AI, like ChatGPT, is also driving demand for edge computing requirements, as cloud companies are leveraging edge to enhance scale and deliver AI applications for faster, better responses. AI models are also changing data center infrastructure, with some large requirements driving densities to 50-100 kW per rack. Many colocation providers have adjusted the voltage delivered to the floor to 415 volts, which can reduce the upfront cost of delivering power to these high-density clusters.    “Data centers are massive power users and require significant efforts to keep cool,” said Matt Landek, Managing Director, Data Centers & Telecom, Work Dynamics, JLL. “Given hyperscaler and colocation provider sustainability goals, the data center industry will need new innovations to improve cooling and energy efficiency for AI uses.”   Data center investment market remains strong Even with a high interest rate environment, data center lender and investor demand remain strong, a bright spot for the capital markets. The sector is still attracting a variety of lenders, including life companies, banks, debt funds and CMBS/SASB, and the record-setting M&A activity of the last two years in the data center sector continues, with a flurry of recent major announcements. “Evidence of growing investor demand is apparent when analyzing the trend of M&A valuation and EBITDA multiples, which is, simply put, a measure of a company’s return on their investment,” said Carl Beardsley, Managing Director, Capital Markets, JLL. “In the trailing 12 months, EBITDA multiples have averaged 26.5x versus an average of 23.2x since January 2017, meaning that investment value is increasing.” The post AI and cloud adoption propel data center demand to record levels for 2023 appeared first on Real Estate Weekly......»»

The Westchester County’s Local Development Corporation (LDC) voted on August 23 final approval of $195 million in tax-exempt bond financing for the development of a new 162,626-square-foot Patient Care Tower on the campus of Westchester Medical Center in Valhalla. “Today’s historic approval by the Local Development Corporation is yet another... The post Local Development Corp. Votes Final Approval of $195 Million Bond Financing for Construction of New 162,626 SF Patient Care Tower at Westchester Medical Center appeared first on Real Estate Weekly. The Westchester County’s Local Development Corporation (LDC) voted on August 23 final approval of $195 million in tax-exempt bond financing for the development of a new 162,626-square-foot Patient Care Tower on the campus of Westchester Medical Center in Valhalla. “Today’s historic approval by the Local Development Corporation is yet another example of how we are working with our not-for-profit community in securing tax-exempt bond financing benefits that are provided at no cost or risk to the taxpayers of Westchester County. This magnificent new project will further enhance our County’s world-class healthcare sector while providing a boost to our region’s economy,” said Westchester County Executive George Latimer. “The Local Development Corporation is very pleased to approve the bond financing for this very important healthcare development at the Westchester Medical Center campus. As a result, nearly 900 construction jobs and new full-time jobs will be created and the County will receive more than $3.5 million in total economic benefits,” said Local Development Corporation Chair Joan McDonald. “The LDC has a clear vision for the future of Westchester County, and we’re happy that vision includes projects such as the Patient Care Tower,” said Michael D. Israel, President and Chief Executive Officer, Westchester Medical Center Health Network (WMCHealth). “The Patient Care Tower on the Westchester Medical Center campus will be the Hudson Valley’s hub of critical care medicine as it will bring together critical care and medical-surgical specialties in one location, enabling Westchester Medical Center to convert to all private inpatient rooms across the rest of the campus. Additionally, the Patient Care Tower will advance our academic mission by giving medical residents and students a state-of-the-art facility in which to train.” According to a cost benefit analysis prepared for the LDC, the project would provide the County with total benefits of $3,531,780 over 30 years. The total benefits are comprised of $722,468 in sales tax revenue from construction; $2,528,062 of sales tax revenue from operations over 30 years, and $281,250 in fees to be collected by the LDC based on the bond proceeds. The project is also estimated to create more than 770 construction jobs and 127 new full-time jobs.    The $221.3 million Patient Care Tower project would feature a five-story, 128-bed structure with all of its inpatient rooms ICU-equipped and a patient-centric design with leading edge amenities that will create a soothing, healing environment. It will house vital services for WMCHealth patients and their families including trauma, neurosciences, cardiology and general surgery. The Local Development Corporation assists Westchester not-for-profit organizations in securing tax-exempt bond financing benefits. These benefits are provided at no cost or risk to the taxpayers of Westchester County. Since its inception in 2012, LDC has assisted not-for-profit organizations in securing tax-exempt bond financing totaling over $500 million. The post Local Development Corp. Votes Final Approval of $195 Million Bond Financing for Construction of New 162,626 SF Patient Care Tower at Westchester Medical Center appeared first on Real Estate Weekly......»»

Miller Construction Company, a statewide, privately-held construction firm, has begun site work on an 80,000-square-foot warehouse for MSI in Orlando, Florida. MSI is the leading nationwide distributor of flooring, countertops, wall tile and hardscaping products in North America. The build-to-suit project will serve the company’s evolving storage and distribution needs... The post Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando appeared first on Real Estate Weekly. Miller Construction Company, a statewide, privately-held construction firm, has begun site work on an 80,000-square-foot warehouse for MSI in Orlando, Florida. MSI is the leading nationwide distributor of flooring, countertops, wall tile and hardscaping products in North America. The build-to-suit project will serve the company’s evolving storage and distribution needs in the Southeast. Located at 2140 North John Young Parkway in Orlando, the industrial site spans 3.53 acres with convenient access to the area’s major highways: I-4 and 408 Expressway. The tilt wall structure is scheduled to be delivered in the first half of 2024. “Central Florida has had immense growth over the last few years with many major businesses setting up shop locally and we are excited to partner with MSI on their first project in the area,” said Brian Sudduth, President of Miller Construction. “Our firm plans to execute our construction plan efficiently with top-notch service and reliability for our client.” The warehouse will have 25 columns with 50-foot by 54-foot spacing, 29 parking spots, 13 dock doors (some with recessed truck wells for deliveries), full warehouse lighting, exhaust fans and louvers. Miller will also include tenant buildouts of four private office spaces and one open office space measuring roughly 9,500 square feet. Additionally, Miller’s team is installing a unique internal crane rail system to lift and move flooring and countertop products around the warehouse. MSI has valued Miller’s preconstruction team during the planning process as the site is extremely tight for a tilt-wall construction project. Precision will be key for the team with only about eight feet of clearance between the neighboring Tesla Dealership on the south side of the property line. The project team includes Eleven18 Architecture, Construction Engineering Group (MEP), Gutherman Structural Inc. (structural) and NV5 (civil). The post Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando appeared first on Real Estate Weekly......»»

Camber Property Group announced today the acquisition and preservation of the Oakland Heights Apartments, a 12 acre 106-unit affordable housing community located at 360 Oakland Street in Manchester, Connecticut. Oakland Heights marks Camber’s first Connecticut transaction and is part of the firm’s regional expansion strategy bringing its disciplined resident-centric approach... The post Camber Property Group Closes on $23 million Oakland Heights Apartments appeared first on Real Estate Weekly. Camber Property Group announced today the acquisition and preservation of the Oakland Heights Apartments, a 12 acre 106-unit affordable housing community located at 360 Oakland Street in Manchester, Connecticut. Oakland Heights marks Camber’s first Connecticut transaction and is part of the firm’s regional expansion strategy bringing its disciplined resident-centric approach to affordable housing development, investment, and ownership. Camber partnered on the acquisition with the Community Preservation Corporation (CPC), which provided a portion of the equity. Real estate services firm Cushman & Wakefield served as the exclusive capital markets advisor to Camber Property Group in the procurement of the FNMA Affordable acquisition financing from Greystone. Oakland Heights Apartments is a 100 percent Project-Based Section 8 development made up of 15 buildings. The complex offers tenants a mix of one-bedroom, two-bedroom and three-bedroom townhomes with an amenity package featuring a clubhouse with community room, 200 parking spaces, laundry facility and a maintenance shop and garage.  As part of the closing, Camber has signed a new 20-year Housing Assistance Payments (HAP) contract with the U.S. Department of Housing and Urban Development (HUD), which will preserve affordability at the complex for decades to come. Additionally, Camber will complete deferred maintenance and undertake sustainability and energy efficiency upgrades at the property. “Affordability is a national issue, and our acquisition of the Oakland Heights Apartments will help to contribute to a more stable Connecticut and preserve quality homes for those families who need them the most,” said Rick Gropper, Principal at Camber Property Group. “We look forward to working with our residents to build an even better community at this complex, and thank our partners Cushman & Wakefield for their exceptional work on this closing.” “Preserving quality affordable housing like the Oakland Heights Apartments is critical at a time when towns and cities across the country are feeling the effects of a housing affordability and supply crisis,” said Tell Metzger, Senior Vice President, Equity Investments at CPC. “With nearly five decades of experience in affordable housing finance, at CPC we understand that investing alongside partners like Camber is an investment in the long-term stability of the property, the community, and the future of the residents.” “The property’s convenient location offers residents a premier living experience with immediate access to the area’s main business district as well as extensive shopping, dining and entertainment options,” said John Alascio of Cushman & Wakefield’s Equity, Debt & Structured Finance team. “The high-quality asset’s fantastic accessibility coupled with an experienced sponsor with success in the affordable housing space made this an exciting financing.”  Oakland Heights Apartments is located near Interstates 84 and 91, providing connectivity to Downtown Hartford and the greater Northeast corridor. Additionally, it is within a short drive to numerous restaurants, malls and attractions across Manchester and Hartford.  Cushman & Wakefield’s Equity, Debt & Structured Finance team of Alascio, Alex Hernandez, Chuck Kohaut, TJ Sullivan and Jason Blankfein represented the borrower in the transaction. The Fannie Mae loan was provided by Greystone.  The post Camber Property Group Closes on $23 million Oakland Heights Apartments appeared first on Real Estate Weekly......»»

 Rudin announced today that Curtis + Ginsberg Architects has signed a 12,602 square-foot lease at One Battery Park Plaza in Lower Manhattan. The NYC-based firm, known for providing award-winning architectural services and specializing in quality sustainable design, will relocate its headquarters to a portion of the 27th floor of the 35-story, 870,000 square-foot office tower as... The post Curtis + Ginsberg Architects To Relocate HQ To Rudin’s One Battery Park Plaza appeared first on Real Estate Weekly.  Rudin announced today that Curtis + Ginsberg Architects has signed a 12,602 square-foot lease at One Battery Park Plaza in Lower Manhattan. The NYC-based firm, known for providing award-winning architectural services and specializing in quality sustainable design, will relocate its headquarters to a portion of the 27th floor of the 35-story, 870,000 square-foot office tower as part of its 11-year lease. The practice is expected to move from its current 10,307-square-foot office at 55 Broad Street in the third quarter of 2023. Rudin recently finalized the sale of 55 Broad Street to Silverstein Properties and Metro Loft Management, which intend to convert the building to 571 residential units. Rudin will retain an equity stake in the project. “We are pleased to be able to accommodate Curtis & Ginsberg’s move to One Battery Park Plaza as 55 Broad Street embarks on its next chapter. Their decision to remain within our portfolio is indicative of Rudin’s history of creating long-term relationships with our tenants,” said Michael Rudin, Executive Vice President of Rudin. “We are excited to stay in Lower Manhattan and look forward to expanding our space at One Battery Park Plaza, which will enhance our collaborative work environment and mission of providing designs that enhance communities,” remarked R. Darby Curtis AIA, Managing Partner of Curtis + Ginsberg. One Battery Park Plaza was originally constructed by the Rudins in 1971 and features original architecture by Emery Roth & Sons and a renovated Italian marble lobby by Specter DeSouza Architects. Floor plates in the building range from 27,000 to 29,000 square feet and offer sweeping views of New York Harbor, the Statue of Liberty, Ellis Island, Governors Island, and Battery Park. One Battery Park Plaza has achieved the WELL Health-Safety Rating, is WiredScore Platinum certified and utilizes Nantum, the world’s most advanced building operating system. Nantum OS is the flagship product of Prescriptive Data, a privately held smart building automation company focused on using artificial intelligence to improve efficiency, decrease carbon emissions and optimize tenant comfort. This follows last year’s announcement of five new leases, totaling more than 100,000 square feet with SFA Agency LLC, Nationwide Mutual Insurance, the International Refugee Assistance Project, Abrams, Gorelick, Friedman & Jacobson, and Cullen and Dykman. Additional major tenants at the property include Hughes Hubbard & Reed, Seward & Kissel, Meridian Capital, The Partnership for New York City, the New York City Fire Pension Fund and CetraRuddy. Kevin Daly, Vice President at Rudin, represented building ownership in the transaction. Curtis + Ginsberg was represented by Ruth Colp-Haber of Wharton Property Advisors. The post Curtis + Ginsberg Architects To Relocate HQ To Rudin’s One Battery Park Plaza appeared first on Real Estate Weekly......»»

 NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has been named the exclusive brokerage for 110 Route 23 in Riverdale, N.J. NAI James E. Hanson’s Jonathan Kristofich and John Schilp will oversee the marketing of the property. Located near the intersection of... The post NAI James E. Hanson Tapped to Sell 133,032-Square-Foot Retail Power Center in Riverdale, N.J. appeared first on Real Estate Weekly.  NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has been named the exclusive brokerage for 110 Route 23 in Riverdale, N.J. NAI James E. Hanson’s Jonathan Kristofich and John Schilp will oversee the marketing of the property. Located near the intersection of Route 23 and Interstate 287 in northeastern Morris County, 110 Route 23 is a 14.51-acre, 133,032-square-foot component of Riverdale Plaza, a large retail power center. 110 Route 23 has been triple-net leased to BJ’s Wholesale Club, a leading warehouse club operator consistently offering 25% or more savings on groceries, general merchandise and ancillary items, and double-net leased to Staples, an office supply retail company and industry leader in workspace products like furniture, technology, cleaning products and traditional office supplies, since its construction in 1998. The active power center is shadow-anchored by Home Depot and Target. The strategically located property casts a very wide trade with ideal accessibility to Morris, Passaic and Bergen counties via nearby Interstate 287. In addition, it has become a preferred shopping destination for residents in nearby Bergen County who are impacted by Bergen County Blue Laws that prohibit the sale of certain retail items on Sundays including electronics, clothing and furniture. “110 Route 23’s combination of accessibility, visibility and in-place leases with two national tenants make it an ideal retail property in the current market,” said Kristofich. “We’re honored to represent the seller in the assignment, and we look forward to procuring a purchaser for this fantastic piece of real estate.” To stay connected with NAI James E. Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook, Twitter and LinkedIn. The post NAI James E. Hanson Tapped to Sell 133,032-Square-Foot Retail Power Center in Riverdale, N.J. appeared first on Real Estate Weekly......»»

 Concord Summit Capital, LLC (“Concord Summit”) arranged a $42 million bridge loan for The Promenade at Sunset Walk – Margaritaville Resort, a 14-building, 192,659-square-foot retail center located within the larger 325-acre master planned entertainment community of Sunset Walk in Kissimmee, Florida. Chairman Kevin O’Grady and Managing Director Justin Neelis, both of... The post Concord Summit Capital Closes $42 Million Bridge Loan for Orlando, Florida Retail Property appeared first on Real Estate Weekly.  Concord Summit Capital, LLC (“Concord Summit”) arranged a $42 million bridge loan for The Promenade at Sunset Walk – Margaritaville Resort, a 14-building, 192,659-square-foot retail center located within the larger 325-acre master planned entertainment community of Sunset Walk in Kissimmee, Florida. Chairman Kevin O’Grady and Managing Director Justin Neelis, both of Concord Summit’s Miami office, advised the borrower and sourced the financing. The bridge loan will be used to repay the original construction loan and provide the borrower, Encore Capital Management, a long-time Concord Summit client, with cash out at closing. The Promenade completed construction and started tenancy in December 2019 and 2020. Currently, the property is 100% leased with inline space and only one vacant pad space available for rent. Tenants include Sketchers, BurgerFi, Cold Stone Creamery, Studio Movie Grill, Fat Tuesdays, Ford’s Garage, among others. “Sunset Walk is one of the most creative, thoughtfully designed master-planned entertainment destinations in the country, and we have financed many. The activity, culture, and draw are second-to-none. Concord Summit is pleased to help finance such a successful project and all its different components from the beginning,” Neelis said.  The property is located on one of the busiest thoroughfares in the Orlando MSA (US 192) and is a very short distance from Walt Disney World’s Magic Kingdom, EPCOT Center, and MGM Studios.  Other major Orlando theme parks are minutes away. The post Concord Summit Capital Closes $42 Million Bridge Loan for Orlando, Florida Retail Property appeared first on Real Estate Weekly......»»

 NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces they have negotiated a 1,750-square-foot office space lease at 18 West Passaic Street in Rochelle Park, N.J. NAI James E. Hanson’s Josh Levering, SIOR, and Jonathan Kristofich represented both the landlord, Passaic Street Associates, LLC,... The post NAI James E. Hanson’s Expertise Helps Landlord Secure Tenant in Rochelle Park, N.J. appeared first on Real Estate Weekly.  NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces they have negotiated a 1,750-square-foot office space lease at 18 West Passaic Street in Rochelle Park, N.J. NAI James E. Hanson’s Josh Levering, SIOR, and Jonathan Kristofich represented both the landlord, Passaic Street Associates, LLC, and the tenant, State Farm, in the transaction. Located near the interchange of Routes 4 and 17 as well as the Garden State Parkway, 18 West Passaic Street is a one-story, 7,724-square-foot office building with executive-covered parking and professional on-site management. Tapped as the exclusive brokerage firm for the property, NAI James E. Hanson utilized its extensive list of local contacts to connect the landlord with prospective tenants and ultimately brokered a deal between the landlord and tenant. The tenant will relocate from Hackensack and utilize its new space to operate a State Farm agency and office. “Transactions like this emphasize the importance of hiring an experienced commercial brokerage to lease available space,” said Kristofich. “Brokerages with an extensive background in the market and local contacts can open the door to a much larger pool of potential tenants. We’re proud to have helped the landlord fill space in short order while also assisting the tenant in relocating from their longtime location in Hackensack. We wish them both a successful and long-lasting relationship.” 18 West Passaic Street is an elevator building that also features covered parking. For remaining availabilities, contact Jonathan Kristofich at jkristofich@naihanson.com or 201-488-5800 x103. The post NAI James E. Hanson’s Expertise Helps Landlord Secure Tenant in Rochelle Park, N.J. appeared first on Real Estate Weekly......»»

J. Calnan & Associates, Inc. (JC&A), a leading construction management firm in the Northeast specializing in world-class preconstruction services and challengingconstruction projects, is proud to announce the successful completion of a significant project for Biocytogen Pharmaceuticals. The grand opening of Biocytogen’s new 37,000 sqft. facility in Waltham, MA marks a... The post J. Calnan & Associates Completes Biocytogen Pharmaceuticals’ New State-of-the-Art Facility appeared first on Real Estate Weekly. J. Calnan & Associates, Inc. (JC&A), a leading construction management firm in the Northeast specializing in world-class preconstruction services and challengingconstruction projects, is proud to announce the successful completion of a significant project for Biocytogen Pharmaceuticals. The grand opening of Biocytogen’s new 37,000 sqft. facility in Waltham, MA marks a notable achievement in advancing research and development in the global biomedical sector. JC&A has worked alongside LeftField Project Management, Hammel, Green & Abrahamson, and AHA Engineers to bring this project to life. Located at 300 Third Avenue, this state-of-the- art facility integrates BSL2 Lab & Vivarium space with sophisticated Class A office space, fostering synergy and innovation among researchers and office workers. The collaboration signifies a significant milestone in the field of biomedical research, propelling Biocytogen Pharmaceuticals (HKEX: 02315) as a leader in integrated solutions for next-generation antibody drug development. The facility’s highlights include a climate-controlled 4,000 cage vivarium, advanced cell culture and procedure suites, and an open-concept design that encourages cross-disciplinary collaboration among teams and partners. This achievement solidifies Biocytogen’s commitment to providing exceptional preclinical contract research services and distributing specialized animal model products (“BioMice”). These products are increasingly sought after by clients spanning North America and Europe. With an extensive portfolio encompassing over 500 strains of specialized mice, Biocytogen has positioned itself as a global frontrunner in humanized animal models. The facility’s cutting-edge resources, such as the flagshipRenMabTM model and second-generation RenMiceⓇ-based platforms, empower researchers to explore novel antibody and cell-based therapeutics with diverse applications. Reflecting on this accomplishment, Jeff Cameron, Partner and Project Executive at JC&A, expressed his enthusiasm, stating, “The completion of Biocytogen’s new facility is a testament to JC&A’s unwavering commitment to innovation in building within the life sciences sector. Our partnership with Biocytogen highlights our dedication to shaping the future of biomedical research by providing exceptional environments for groundbreaking discoveries.” Biocytogen is the latest project in a portfolio that features complex projects for clients including Merck & Co, Biogen, Schrodinger, Inc, Lyra Therapeutics, TScan Therapeutics, and Affinia Therapeutics. The post J. Calnan & Associates Completes Biocytogen Pharmaceuticals’ New State-of-the-Art Facility appeared first on Real Estate Weekly......»»

Newmark announces it has completed the sale of Midtown Plaza, a 24,867-square-foot urban retail center in the heart of Walnut Creek, California. The asset sold for an undisclosed amount. Newmark Vice Chairman Nicholas Bicardo, Senior Managing Director Rick Steffens and Associate Director Cheyne Bloch represented the undisclosed seller. The buyer... The post Newmark Completes Sale of Urban Retail Center inWalnut Creek, California appeared first on Real Estate Weekly. Newmark announces it has completed the sale of Midtown Plaza, a 24,867-square-foot urban retail center in the heart of Walnut Creek, California. The asset sold for an undisclosed amount. Newmark Vice Chairman Nicholas Bicardo, Senior Managing Director Rick Steffens and Associate Director Cheyne Bloch represented the undisclosed seller. The buyer was an undisclosed institutional client advised by L&B Realty Advisors. Midtown Plaza, a 24,867-square-foot urban retail center in the heart of Walnut Creek, California. The asset sold for an undisclosed amount. Newmark Vice Chairman Nicholas Bicardo, Senior Managing Director Rick Steffens and Associate Director Cheyne Bloch represented the undisclosed seller. The buyer was an undisclosed institutional client advised by L&B Realty Advisors. Midtown Plaza, located in the heart of downtown Walnut Creek at 1410-1444 North California Boulevard and 1620-1630 Cypress Street, spans half a block and includes a surface level parking lot. Anchored by Galpao Gaucho Brazilian Steakhouse and Premier Bath & Kitchen, the property is 100% leased to a dynamic mix of food, home improvement and service retail tenants. “Midtown Plaza represents a rare assemblage of core retail in a thriving urban market,” said Bicardo. “Despite the complexities of the current capital markets landscape, we garnered strong interest for this asset and consistently see a multitude of investors stepping up for premium retail assets along the West Coast.” Due to its centralized location in Contra Costa County and accessibility to major freeways and BART, Walnut Creek serves as a hub for commuters both to and from the East Bay. The city’s desirable neighborhoods and top performing schools attract a highly educated and affluent population. The post Newmark Completes Sale of Urban Retail Center inWalnut Creek, California appeared first on Real Estate Weekly......»»

JLL Capital Markets announced today that it has arranged the $193 million non-recourse construction financing for Pathside, a 605-unit to-be-built, luxury high-rise apartment building located in the Journal Square neighborhood of Jersey City, New Jersey. JLL worked on behalf of the borrower Panepinto Properties, Inc. (“Panepinto”) to secure a five-year, floating-rate... The post $193M financing arranged for Gold Coast multi-housing project appeared first on Real Estate Weekly. JLL Capital Markets announced today that it has arranged the $193 million non-recourse construction financing for Pathside, a 605-unit to-be-built, luxury high-rise apartment building located in the Journal Square neighborhood of Jersey City, New Jersey. JLL worked on behalf of the borrower Panepinto Properties, Inc. (“Panepinto”) to secure a five-year, floating-rate loan through Pacific Life.  With an anticipated completion of Q2 2026, Pathside will feature, studio, one-, two- and three-bedroom units, averaging 710 square feet. Additionally, the property will feature 3,200 square feet of ground-floor commercial space. The project is being built by AJD Construction, a privately owned company founded by Anthony J. Diaco in 1977 and specializing in high-rise residential buildings.  Since that time, AJD has built over 50,000 apartments and prides itself as a streamlined company with the common goals of job completion, efficiency and customer satisfaction. Pathside will be located at 499-507 Summit Ave. and is within an Opportunity Zone. The property is situated in the Journal Square neighborhood of Jersey City and directly adjacent to the PATH subway station, providing direct access to Manhattan. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Thomas R. Didio, Senior Director Thomas E. Didio, Jr., Director Gerard Quinn and Senior Analyst Salvatore Buzzerio. “We are excited to announce the vertical capitalization of Pathside, the newest luxury delivery in Panepinto’s Gold Coast pipeline. Pacific Life provided the borrower team with an accretive non-recourse, single source solution in a very challenging market for large construction loans,” stated Thomas E. Didio, Jr., who added that negotiations were successfully led by Joseph Panepinto, Jr., on behalf of the borrower. JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries. For more news, videos and research resources on JLL, please visit our newsroom. The post $193M financing arranged for Gold Coast multi-housing project appeared first on Real Estate Weekly......»»

Residents have begun to move into Vestra at UnCommons, the first residential project at the new mixed-use community in Southwest Las Vegas by Matter Real Estate Group, a leading commercial real estate development firm.  The stylish urban residential community is designed by globally renowned architecture firm, EDI International, with interiors by luxury design agency,... The post UnCommons Unveils Vestra, Matter Real Estate Group’s Inspired Entry into Residential Development  appeared first on Real Estate Weekly. Residents have begun to move into Vestra at UnCommons, the first residential project at the new mixed-use community in Southwest Las Vegas by Matter Real Estate Group, a leading commercial real estate development firm.  The stylish urban residential community is designed by globally renowned architecture firm, EDI International, with interiors by luxury design agency, Jules Wilson Design Studio. Vestra at UnCommons will ultimately offer a total of 352 units across three midrise towers, with 86 units of building two ready for move-in by October and the final building, with 219 units, available in early 2024.  “As this was our first residential development, we had the opportunity to design this project with purpose and intention from a completely blank canvas,” said Jim Stuart, partner at Matter Real Estate Group. “Community is at the heart of all we do at UnCommons, and we developed ample common areas indoors and out to bring people together, including co-working spaces to keep the many people who work remotely or hybrid connected. Vestra also has one of the best “backyards” in the city, with 40-acres that offer beautiful outdoor common areas and some of Las Vegas’ best bars and restaurants found anywhere. “From the beginning we realized this was an extraordinary opportunity to bring Las Vegas a truly walkable neighborhood with a cool vibe unlike anything in town.”  Vestra residents benefit from the same ‘human-centered’ principles that have distinguished the 40-acre UnCommons from the onset of construction. A mix of floor plans includes studios; one-bedroom, one-bathroom; two-bedroom, two-bathroom; and three-bedroom, two-bathroom units. Residences provide the latest smart home technology, including a control panel that gives remote access to smart door locks, thermostat, electrical switches and sensors. Each unit showcases quartz countertops and modern, flat-panel cabinets with under-cabinet lighting as well as walk-in closets, and a washer and dryer, plus private lockers for a dry-cleaning service. In addition, Vestra has a limited number of penthouse units that reflect the aesthetic, features and vibe of UnCommons, providing a distinct lifestyle for the most discerning resident.  Alongside the upgraded private amenities, Vestra features a variety of upscale community features including a modern pool house, a resort-style pool and resort court with cabanas, fireplaces and BBQs. The community spaces also feature a large indoor/outdoor fitness center, lawn space, pet park and spa. Co-working spaces with “Zoom rooms” make it possible for residents to maximize their work-from-home experience, plus Vestra offers a multi-purpose “flex” lounge and a spacious media room. A 100% controlled access parking garage offers secure parking, plus electric vehicle charging stations.  Unique to Vestra residents is their neighbors – some of the most buzzed-about projects in the Las Vegas Valley. UnCommons is home to the second-largest North America headquarters for DraftKings, in addition to other renowned companies like CBRE, Sotheby’s, Deloitte, EY, Morgan Stanley and more. Additionally, UnCommons houses several in-demand dining and lifestyle destinations, including The Sundry, a distinctive culinary experience by Michael Mina, Urth Caffe, Salt & Straw, Amari, SunLife Organics and more. In all, residents of Vestra will enjoy over 20 distinct food and beverage offerings literally outside their door.   To learn more about Vestra, visit the leasing gallery at the UnCommons campus or visit the website at www.VestraLiving.com. For more information about UnCommons, visit www.UnCommons.com.  The post UnCommons Unveils Vestra, Matter Real Estate Group’s Inspired Entry into Residential Development  appeared first on Real Estate Weekly......»»

Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE’s Institutional Properties represented the seller in the sale of 39 Lewis Street, a91% leased mixed use CBD property in Greenwich, CT, for $9.3 million ($545 PSF) and 23 Old Kings Highway, an 86% leased boutique office building in Darien,... The post CBRE Announces $13.6 Million Sale Of Office Portfolio In Greenwich And Darien, CT appeared first on Real Estate Weekly. Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE’s Institutional Properties represented the seller in the sale of 39 Lewis Street, a91% leased mixed use CBD property in Greenwich, CT, for $9.3 million ($545 PSF) and 23 Old Kings Highway, an 86% leased boutique office building in Darien, CT, for $4.3 million. CBRE also procured separate buyers for each property. The 17,081 sq. ft. Lewis Street building is located less than one block from prestigious Greenwich Avenue, offering an abundance of amenities including upscale dining and world-renowned retail. The building provides stable cash flow with office tenants on the upper floors and ground floor retail. The Greenwich CBD has benefited from an increased demand in office tenants, lowering the vacancy to under 10% with rents increasing to over $100 per sq. ft along Greenwich Ave. The 25,713 sq. ft. 23 Old Kings Highway is a train-centric property, located adjacent to the new Corbin District. With in-place rents being $15+ PSF below market, the building offers significant upside on lease roll. Its optimal regional accessibility via I-95 and walking distance to the Darien train station, coupled with numerous immediate restaurant and retail options, provides a tenant-friendly destination. Mr. Dunne commented, “39 Lewis provides a robust in-place NOI in the strongest CBD market in the United States. 23 Old Kings Highway’s below-market rents and location in the redeveloping Corbin District provides an optimal environment for the buyer to grow income in the future.” Mr. Bardsley added, “These transactions are a testament to Greenwich and Darien as being extremely desirable business destinations for discerning companies, which demand high quality office space within development-restricted markets.” CBRE Institutional Properties Group is marketing several attractive investment opportunities including: 181 Harbor Dr, a 91,040 sq. ft. single tenant office building leased to Vineyard Vines for their headquarters in Stamford, CT; 777 Commerce Drive, a 62,660 sq. ft. 100% leased office building in Fairfield, CT; 55 Post Road West, a 38,353 sq. ft. boutique office building located in downtown Westport, CT; and Harborside 5, a 983,041 sq. ft .value-add office building in Jersey City, NJ. The post CBRE Announces $13.6 Million Sale Of Office Portfolio In Greenwich And Darien, CT appeared first on Real Estate Weekly......»»

The Altman Companies announces the Pre-Leasing of its Altís Blue Lake Apartments in Lake Worth, Florida.....»»

Denholtz Properties, a leading real estate development and investment company, announces the acquisition of Solo at North Bergen, a 214-unit, luxury multifamily community located at 4828 Tonnelle Avenue in North Bergen, N.J. Completed in 2023, Solo at North Bergen is among Hudson County’s premier residential communities. Currently, 98% leased, the community... The post Denholtz Properties Acquires 214-Unit, Luxury Community in Hudson County, N.J. appeared first on Real Estate Weekly. Denholtz Properties, a leading real estate development and investment company, announces the acquisition of Solo at North Bergen, a 214-unit, luxury multifamily community located at 4828 Tonnelle Avenue in North Bergen, N.J. Completed in 2023, Solo at North Bergen is among Hudson County’s premier residential communities. Currently, 98% leased, the community spans three, three-story buildings with 138 units and one, five-story elevatored building with 76 units. In addition, residents enjoy access to a full resort-style amenities package including a 5,000-square-foot clubhouse with billiards and gaming tables, a state-of-the-art fitness center, an outdoor swimming pool with grilling stations and an outdoor sauna, a community dog run and a full-service package room. Solo at North Bergen provides easy access to New York City, Jersey City, Newark and Hoboken via nearby Routes 1&9 and 3 as well as Interstates 78, 95 and 495. The community is also steps away from the Tonnelle Avenue Light Rail Station and an NJ Transit bus stop with direct access to New York City. In addition, the nearby Port Imperial/Weehawken ferry terminal provides easy connections to several locations within Manhattan. “North Bergen’s growing population and unparalleled access to many of the region’s largest employment and entertainment hubs makes it a highly desirable location,” said Stephen Cassidy, President of Denholtz Properties. “This acquisition speaks to our commitment to expanding our multifamily portfolio through an intelligent and strategic approach to growth. We look forward to deploying our time-tested residential management platform at the property to create one of northern New Jersey’s premier residential communities.” Solo at North Bergen is the latest to join Denholtz Properties’ growing list of recently completed or under construction residential communities that includes The Rail at Red Bank, the company’s visionary 57-unit mixed-use community adjacent to the Red Bank Train Station, and The Rail at Bound Brook, an under-construction 143-unit Class-A multifamily community located across from the Bound Brook train station that broke ground in May of 2023. In addition to its expanding residential portfolio in New Jersey, Denholtz Properties has also bolstered its multifamily portfolio over the last several years through several strategic acquisitions including Overall Creek, a 384-unit, Class-A multifamily community in Murfreesboro, Tenn., as well as Vida Apartments, a 289-unit luxury multifamily community in Kannapolis, N.C. The post Denholtz Properties Acquires 214-Unit, Luxury Community in Hudson County, N.J. appeared first on Real Estate Weekly......»»

111 West 57th Street, the Design Tour de Force That Set a New Standard for Ultra-Luxury Living, Unveils New Rafael de Cárdenas Model Residence 66.....»»

On Saturday, July 29, the Los Angeles Chapter of the African American Real Estate Professionals AAREP LA held a behind-the-scenes look at monumental projects and acquisitions across South Los Angeles led by Black developers who have taken aconscientious, community-first approach to real estate and economic development over the past year. The seven... The post More than $1 Billion of Properties Led by Black Developers Featured During AAREP LA South LA Rising Bus Tour and Showcase appeared first on Real Estate Weekly. On Saturday, July 29, the Los Angeles Chapter of the African American Real Estate Professionals AAREP LA held a behind-the-scenes look at monumental projects and acquisitions across South Los Angeles led by Black developers who have taken aconscientious, community-first approach to real estate and economic development over the past year. The seven featured sites, valued at approximately $1 billion, represent a wide-rangingcollection of mixed income and mixed-use, affordable housing, retail, office as well as a planned creative campus for studio and sound stage production. Tour participants heard from industry veterans Rochelle Mills, Innovative Housing Opportunities; Stanley Washington and Sherri Franklin , Stocker Street Creative; Malcolm Johnson and Bryce Grandison, Langdon Park Capital; Jennifer McElyea, ETHOS Real Estate;; and Saul McDonald, CCIM, Avanath Capital Management. The event was sponsored by the Urban Land Institute (ULI) as part of their mission toshape the future of the built environment for transformative impact in communities worldwide. Michael Tidwell of Cushman & Wakefield served as event moderator. According to Tidwell, “This tour, in a nutshell, showcased the power of community-focused development backed by a formidable network.” McElyea of ETHOS Real Estate showcased their Crenshaw Crossing project noting, “We’re trying to meet the spectrum of tenant profiles because some people make too much to qualify for affordable housing, but they can’t afford market. We’re trying to hit every segment of the community.” Crenshaw Crossing will have 401 rental apartment units and 40,000 square feet of commercial space on the ground floor including a grocery. Ethos also shared more on their Residences at Woodlake in Baldwin Village. Baldwin Village Apartments is an Avanath Capital Management, LLC property. Recognized as the nation’s largest Black-owned affordable housing investor, Avanath made a record $220 million investment to help stabilize housing the community by purchasing the 669-unit Baldwin Village Apartments. Johnson and Grandison of Langdon Park Capital shared more on Langdon Park at Baldwin Village. These two workforce housing communities in South Los Angeles are part of their mission to create lasting social impact in historically Black and Latino communities. The goal of Stocker Street Creative is to build a transformative state-of-the-art creative campus for studio and sound stage production, creative industry office spaces, businessand technology incubation and industry specific job development within a collaborativeecosystem designed to drive economic development within the South and Southeast Los Angeles communities while leveraging the greater Los Angeles County creative industry. The tour also included Urban Design Center’s Shedrick Creative Arts Community. Another property profiled on the tour, 87th & Western is a mixed-use, mixed- incomecommunity revitalization development that will include a diverse mix of residents as well as affordable pedestrian-oriented commercial and retail spaces. Located within walking distance of Gramercy Park, grocery stores, a Kaiser medical facility and transit, the project’s design honors the single-family homes along 87th and 88th streets. The day concluded with the organization’s Annual Networking Brunch sponsored by  OneUnited Bank , the nation’s largest Black-owned bank. At the brunch, AAREP saluted prominent real estate attorney George Clayton Fatheree, III with a special recognition presented by AAREP LA officer Troy S. Jenkins. Fatheree has a distinguished profile and reputation in California – and nationwide – built on his commercial real estate practice, counseling of artists and museums in arts and culture transactions, civil rights-focused pro bono work and extensive civic and community  service. Fatheree is engaged in impact-focused pro bono matters such as representing the descendants of Willa and Charles Bruce in the landmark return of the Bruce’s Beach property – a groundbreaking transaction involving the return of property that was wrongly taken from an African American family almost 100 hundred years ago. Fatheree also represented Debbie Allen Dance Academy in its acquisition, financing and development of a state-of-the-art performing arts academy in the West Adams district of Los Angeles, and assisted Black Lives Matter Los Angeles in its acquisition of a headquarters building. These projects have been recognized as important civic and cultural additions to the city. AAREP’s brunch also featured keynote speaker,  Areva Martin , an award-winning civil rights attorney, talk show host, legal commentator and entrepreneur. A Harvard Law School graduate, Areva founded the Los Angeles-based civil rights firm, Martin & Martin LLP. She is the lead attorney representing thousands of African American and Latino survivors and descendants of Section 14 who suffered an estimated $2 billion dollars in damages when the City of Palm Springs burned and razed their homes in the 1950s and ’60s. A best-selling author of four books, she is the founder of Special Needs Network, Inc., one of the state’s leading autism and social justice nonprofits. One hundered percent of the proceeds from ticket sales of the bus tour went to the benefit of the Special Needs Network. The event was summed up by AAREP LA President and industry luminary, Kimberly Brown of IMPACT Realty Advisors, “South LA is a community rich with history and pride. As a native of the community, I’ve personally seen a long history of disinvestment and now a surge in outside investment with precarious outcomes like gentrification with displacement.  Our organization is a robust ecosystem of interdisciplinary commercial real estate professionals. We were proud to showcase our developers and investors who continue to play a significant role in the transformation of our community through a lens from within. We are part of the solution.” The post More than $1 Billion of Properties Led by Black Developers Featured During AAREP LA South LA Rising Bus Tour and Showcase appeared first on Real Estate Weekly......»»

Multifamily owner‐operator and investment manager Pacific Urban Investors acquired La Scala, a 354‐unit apartment community in the La Jolla / University Town Center (UTC) submarket of San Diego, CA, on July 14, 2023. The property was renamed Veranda La Jolla (the “Property”) and marks Pacific’s 22nd acquisition in the San... The post Pacific Urban Investors Expands Southern California Portfolio with Acquisition of La ScalaStrengthening Presence in Highly Desirable San Diego Submarket appeared first on Real Estate Weekly. Multifamily owner‐operator and investment manager Pacific Urban Investors acquired La Scala, a 354‐unit apartment community in the La Jolla / University Town Center (UTC) submarket of San Diego, CA, on July 14, 2023. The property was renamed Veranda La Jolla (the “Property”) and marks Pacific’s 22nd acquisition in the San Diego Market. Veranda is Pacific’s second investment in UTC in recent months, following the company’s purchase of the 400‐unit Allina La Jolla earlier in the year. Veranda La Jolla is a 100% market rate property built in 1989. La Jolla / UTC is a highly regarded regional employment driver in multiple bioscience and technology fields due to its close relationship with the University of California at San Diego (UCSD) businessand research ecosystem. Proximity to job nodes along both the I‐5/I‐15 corridors, downtown La Jolla, and some of southern California’s most well‐known beaches make La Jolla / UTC a coveted neighborhood for residents offering easy coastal access andshort commute times. The Property offers semi‐urban, walkable living 10 minutes from the ocean, a job‐dense micro location with plentiful neighboring retail, and extensive amenities. Community features on the 4‐story mid‐rise asset were thoughtfullyconstructed by the Seller and include two individual landscaped courtyards with water features surrounding a central courtyard containing a resort‐style pool and spa, bar‐be‐que area, and expansive single‐story amenity suite complete with well‐appointedclubhouse / business center and leading‐edge fitness center. All units offer outdoor space via balcony or patio and top floor apartments feature vaulted ceilings with clerestory windows for added natural light. Similar to Allina La Jolla, Pacific Urban Investors is dedicated to maintaining the unique personality and distinctiveness of Veranda La Jolla while launching new programs designed to further enrich the resident experience. The company plans to invest in increasing utility of the community’s amenities, including upgrading communal areas for residents to connect and engage, and enhancing resident unit interiors. “As a follow‐on acquisition to its sister property next door, Veranda La Jolla gives Pacific the opportunity to acquire additional share in one of the most highly sought‐after investment submarkets in Southern California. Proximate to a density of jobs rarelyencountered, La Jolla’s world‐renowned beaches, and innumerable retail options, Veranda La Jolla offers residents convenient access to work and play in a contemporary building with all the desired amenities. The Property’s premium positioning along Nobel, unit outdoor spaces, and high quality of construction are all competitive advantages in a highly occupied submarket” said Grant Geisen, Senior Vice President of Investments at Pacific. Pacific’s President Rory Gardner commented “Allina La Jolla is off to a strong start, and we are thrilled to have added Veranda La Jolla next door, growing our Southern California portfolio by 754 total units. We remain excited about the long‐term economic drivers in the region and are actively seeking additional investments across all our strategies; including both direct acquisitions, as well as joint venture and preferred equity opportunities.” The post Pacific Urban Investors Expands Southern California Portfolio with Acquisition of La ScalaStrengthening Presence in Highly Desirable San Diego Submarket appeared first on Real Estate Weekly......»»