Ryan Serhant fires back at Bess Freedman, calls legacy brokerages “scared” – Robert Khodadadian

Ryan Serhant is pushing back on claims made by Brown Harris Stevens CEO Bess Freedman at The Real Deal’s New York City Showcase + Forum last week that reality television shows are harmful to the public’s perception of the real estate industry. Sharing a panel with Douglas Elliman CEO Scott Durkin and Serhant, who has …

What We Saw at ICSC: Day 1 – Robert Khodadadian

What We Saw at ICSC: Day 1 – Robert Khodadadian The International Council of Shopping Centers kicked off the annual retail event of the year in Las Vegas on Monday and Commercial Observer was on the floor capturing the sights of day 1. Here’s the highlights of what we saw straight from CO’s Twitter feed:   JLL kicked off #ICSC2022 with a media breakfast and retail

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The International Council of Shopping Centers kicked off the annual retail event of the year in Las Vegas on Monday and Commercial Observer was on the floor capturing the sights of day 1.

Here’s the highlights of what we saw straight from CO’s Twitter feed:

 

JLL kicked off #ICSC2022 with a media breakfast and retail panel moderated by @JamesDCook with speakers: Naveen Jaggi @greg_maloney and @rseverino_CR. pic.twitter.com/0rqxswwyPU

— Commercial Observer (@commobserver) May 23, 2022

CBRE’s booth at ICSC, Deal Makers Welcome! #ICSC2022 @CBRE pic.twitter.com/O57x3XwROF

— Commercial Observer (@commobserver) May 23, 2022

Want to look sharp at ICSC? Get yourself a free hair styling session! #ICSC2022 pic.twitter.com/VW8ctRXWkZ

— Commercial Observer (@commobserver) May 23, 2022

Your fast food booth as ICSC, instead of burger, you are getting deals made! #ICSC2022 @McDonalds @Wendys @FirehouseSubs @BurgerKing pic.twitter.com/veJCumtHvQ

— Commercial Observer (@commobserver) May 23, 2022

At @ICSC in Las Vegas, @Colliers‘ Anjee Solanki, @JLL‘s Naveen Jaggi, @IndustriousHQ‘s Craig Robinson, and @CBRE‘s Adam Williamowsky discuss shop, dine, work, and play. pic.twitter.com/TqDnipvKaS

— Commercial Observer (@commobserver) May 23, 2022

ICSC can be be scary! #ICSC2022 @SpiritHalloween pic.twitter.com/7seWNViZs0

— Commercial Observer (@commobserver) May 23, 2022

@MeridianCapLLC president Yoni Goodman speaking at the firm’s lunch event. #icsc2022 pic.twitter.com/6KJRmwgrBR

— Commercial Observer (@commobserver) May 23, 2022

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Loan on Aby Rosen’s 285 Madison Avenue Sent to Special Servicing – Robert Khodadadian

Loan on Aby Rosen’s 285 Madison Avenue Sent to Special Servicing – Robert Khodadadian The $235 million commercial mortgage-backed securities (CMBS) loan on RFR Holding’s office property at 285 Madison Avenue has transferred to special servicing, according to a Trepp alert released Monday. Aby Rosen’s RFR has requested that the loan’s maturity date be extended.   The debt behind the 511,208-square-foot Midtown Manhattan asset, which sits near Grand Central Terminal,

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The $235 million commercial mortgage-backed securities (CMBS) loan on RFR Holding’s office property at 285 Madison Avenue has transferred to special servicing, according to a Trepp alert released Monday. Aby Rosen’s RFR has requested that the loan’s maturity date be extended.  

The debt behind the 511,208-square-foot Midtown Manhattan asset, which sits near Grand Central Terminal, was securitized in the NCMS 2018-285M CMBS deal in 2017, and just transferred to special servicer KeyCorp Real Estate Capital Markets. The fixed-rate loan is scheduled to mature in November. 

Korean real estate fund manager KTB Asset Management led the $475 million refinance for the asset in November 2017. In addition to the NCMS 2018-285M A-note securitized portion, the five-year, fixed-rate loan also included a $35 million B-note, $120 million of senior mezzanine debt and $85 million of junior mezzanine debt, according to CRED iQ. Natixis co-originated $270 million of the loan’s senior tranche. 

The 26-story property was 95 percent occupied as of Sept. 30, 2021, compared to 97 percent at the end of 2019, according to data from CRED iQ. The building’s largest tenant is clothing giant Tommy Hilfiger, which leases 219,800 square feet for its corporate headquarters in a deal scheduled to run through Oct. 31, 2033. Ziff Capital Partners has a lease for 26,211 square feet scheduled to expire on May 31, 2026, per CRED iQ data. 

RFR acquired the then-vacant 285 Madison 10 years ago for $189 million and invested $65 million to renovate the 1926-built asset in 2013. The landlord’s improvements included a comprehensive lobby renovation, new mechanical systems, upgrades to all common areas and new bathrooms on each floor, according to the company’s website. 

Officials at RFR did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com 

 

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Harrison Street Buys Two LA Medical Office Properties for $156M – Robert Khodadadian

Harrison Street Buys Two LA Medical Office Properties for $156M – Robert Khodadadian Stockdale Capital Partners has sold two Los Angeles medical offices to Harrison Street for $156 million. The Chicago-based investment manager Harrison Street picked up 9090 Wilshire Boulevard in Beverly Hills and 2825 Santa Monica Boulevard in Santa Monica from Stockdale in a deal that closed late April, according to Stockdale and The Real Deal. The

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Stockdale Capital Partners has sold two Los Angeles medical offices to Harrison Street for $156 million.

The Chicago-based investment manager Harrison Street picked up 9090 Wilshire Boulevard in Beverly Hills and 2825 Santa Monica Boulevard in Santa Monica from Stockdale in a deal that closed late April, according to Stockdale and The Real Deal. The properties comprise a combined 107,000 square feet.

“The sale of these two prime West L.A. properties is part of Stockdale Capital Partners’ continued medical office strategy,” Stockdale’s Dan Michaels said in a statement. “Being able to execute our value-add initiatives, which included a renovation of both assets, as well as capitalize on the growing demand for medical office product has enabled us to generate a significant return on our investment.”

Los Angeles-based Stockdale bought both properties for $88.8 million in 2015, according to TRD. The 55,000-square-foot 2825 Santa Monica Boulevard is mainly leased to UCLA Health while the 49,000-square-foot 9090 Wilshire Boulevard is fully occupied by Cedars Sinai, according to Stockdale.

The purchase closed days after news came out that Harrison Street sold off a 27-property health care portfolio spread across 10 states to NorthWest Health Care Properties for $600 million, Commercial Observer previously reported.

“This is an exciting transaction that builds on our west coast medical office portfolio and highlights Harrison Street’s track record of delivering attractive core real estate opportunities for our investors,” Harrison Street’s Mark Burkemper said in a statement about the Los Angeles deal. “The properties are located in capacity constrained, affluent LA submarkets with favorable long-term demographic characteristics, and are affiliated with Cedars-Sinai and UCLA Health, two world-renowned health systems.”

CBRE’s Chris Bodnar brokered the sale of the Los Angeles properties.

“It’s incredibly rare for two assets of this caliber to be marketed as a portfolio,” Bodner said in a statement. “This was truly a once-in-a-generation opportunity.”

Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Joel Schreiber, WeWork’s first investor, faces grind on LA project – Robert Khodadadian

New York City real estate investor Joel Schreiber struck gold when he met Adam Neumann and became the first investor in WeWork. It’s been more of a grind for Schreiber on his hopes of redeveloping a massive building in Downtown Los Angeles. Schreiber’s Waterbridge Capital set its sights on the 1.2 million-square foot, 10-story property …

Latch Cuts 28% of Employees Due to Dire Financial Situation – Robert Khodadadian

Latch Cuts 28% of Employees Due to Dire Financial Situation – Robert Khodadadian Latch, the proptech that allows users to unlock doors using their smartphone, will be laying off 28 percent of its full-time employees as financial turbulence continues at the firm. The firm announced late Friday that it will layoff 130 employees and that the sales and marketing departments would be reorganized under the leadership of Lee

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Latch, the proptech that allows users to unlock doors using their smartphone, will be laying off 28 percent of its full-time employees as financial turbulence continues at the firm.

The firm announced late Friday that it will layoff 130 employees and that the sales and marketing departments would be reorganized under the leadership of Lee Odess, who was formerly the general manager of new market development for the firm.

Latch, which specializes in smart locks and keyless entry for office and residential buildings, went public in 2021 by merging with a special purpose acquisition company sponsored by developer Tishman Speyer. The deal valued Latch at $1.56 billion.

However, the company has not been able to bring its finances out of the red, despite generating more cash flow over the last year, according to its earnings report. Its stock dropped about $76 percent since it debuted, currently sitting at $2.38 a share.

In the first quarter of 2022 Latch’s revenue was recorded at $13.7 million, up 106 percent compared to $6.6 million for the same period last year. But net losses for the company were at $44.2 million for the first quarter, a 16 percent jump compared to the $38.1 million in net losses seen in the first quarter of 2021.

“As our company has matured, we have honed our strategy to create powerful experiences for all stakeholders through Latch’s intuitive software and sought-after partnerships,” Luke Schoenfelder, Latch co-founder and CEO, said in a statement regarding their first quarter results. “We are pleased with our progress on these initiatives, and after 88 percent year-over-year growth in software revenue in the first quarter, we are raising software revenue guidance for the year.”

Total software revenue for the firm in the first quarter was $3 million compared to last year’s $1.6 million.

Thanks to the layoffs, Latch thinks it can cut annual costs by $40 million across sales, marketing, general and administrative overhead and research and development. It expects to spend $3 million to $4 million on restructuring and related charges, primarily due to severance and benefit costs.

But revenue at Latch wasn’t making the CEO, Schoenfelder, gloomy in April 2021, when revenue for the company was by the aforementioned metrics, worse than it is now. 

Mark Hallum can be reached at mhallum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Fisher Brothers’ Experiential Retail Space Area 15 Doesn’t Want to Stay in Vegas – Robert Khodadadian

Fisher Brothers’ Experiential Retail Space Area 15 Doesn’t Want to Stay in Vegas – Robert Khodadadian You’ve never been to a shopping or retail center like Area 15 in Las Vegas. In fact, it’s safe to say you’ve never been anywhere like Area 15 before. It’s Fisher Brothers’ experiential and experimental center, part of an 80-acre development called Vegas Rising a few minutes off the Las Vegas Strip. Once inside the

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You’ve never been to a shopping or retail center like Area 15 in Las Vegas. In fact, it’s safe to say you’ve never been anywhere like Area 15 before.

It’s Fisher Brothers’ experiential and experimental center, part of an 80-acre development called Vegas Rising a few minutes off the Las Vegas Strip. Once inside the 120,000-square-foot center, patrons are transported to an alternate reality among a collection of unique experiential and retail tenants. The hybrid retail project bills itself as an “immersive bazaar” with art installations and interactive experiences. 

Fisher Brothers showcased the space at a kickoff party hosted by Commercial Observer and Berdon LLP for ICSC’s REcon in Las Vegas. 

Area 15’s anchor tenant, Meow Wolf in 50,000 square feet, hosts exhibits like “House of Eternal Return,” a “multidimensional mystery house” with secret passages, portals to different worlds, and an expansive narrative amidst “surreal, maximalist, and mesmerizing art exhibits.” Area 15 hosts other interactive exhibits and events such as virtual reality, escape rooms, and competitive leisure posts like ax-throwing and virtual golf, as well as “a 2,000-square-foot bamboo volcano.”

“Our tenants, our experiences, they’re trendsetters,” Winston Fisher, a principal at the Manhattan-based firm, said. “They’re people who are defining the experience economy. Whether it’s art and immersive distilleries, competitive leisure. We are not scared to take creative risks.”

Area 15’s chief operating officer, Dan Pelson, described it as a balance of entertainment, events, food and beverage, and creative tenants — “some of which we own and operate, many of which we don’t. The tenants are very different, from walk-around artistic experiences like Meow Wolf and Museum Fiasco, to competitive leisure like throwing axes.”

“It’s about connecting and being a participant instead of a spectator,” Pelson said.

Fisher said the pandemic shifted consumer perspectives, placing greater value on human connection and driving consumers to actively seek experiences. That’s why Fisher’s growing the Area 15 space and also expanding the model outside of Las Vegas.

“We’re in the process of building a hotel. We’re looking at 500,000 square feet more of immersive entertainment, retail, restaurants, multifamily, anything that is part of the experience economy with a creative bend,” Fisher said. “We’re expanding to Orlando, where we bought land on I-4, that’s going to be a 300,000–square-foot Area 15. Again, this incredible mashup of events, experiences, entertainment and incredible retail tenants.” 

He said the company’s not stopping in Orlando, either. Fisher Brothers is also looking to build regional Area 15s all over the country and internationally. 

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

“Hot girl real estate” reigns at ICSC, Covid be damned – Robert Khodadadian

Storefront leasing is still recovering but the vibes at the world’s biggest retail conference reveal a Covid-blind optimism is in the air. The Wynn Resort poolside parties Sunday — the unofficial pregame to the ICSC conference in Las Vegas — were awash with brokers, investors, developers and some conference newbies eager to get down to …

Lidl and Onelife Fitness Set to Open at Upton Place – Robert Khodadadian

Lidl and Onelife Fitness Set to Open at Upton Place – Robert Khodadadian Upton Place, a $290 million mixed-use development underway in Washington, D.C., has snagged two noteworthy tenants. Onelife Fitness inked a 54,745-square-foot lease, while grocery store Lidl has signed on for 28,960 square feet. Both plan to open in the fourth quarter of 2023 when the development, by Donohoe Development and Aimco, is slated to open.

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Upton Place, a $290 million mixed-use development underway in Washington, D.C., has snagged two noteworthy tenants.

Onelife Fitness inked a 54,745-square-foot lease, while grocery store Lidl has signed on for 28,960 square feet. Both plan to open in the fourth quarter of 2023 when the development, by Donohoe Development and Aimco, is slated to open.

This marks Lidl’s third D.C. location.

“We are happy to continue to expand our store network in the Washington metropolitan area,” a spokesperson for Lidl told Commercial Observer. “We are focusing on highly convenient locations that will make Lidl’s high quality and highly affordable groceries available to as many D.C. residents as possible. We are confident the store will be an excellent addition for the community.”

The site was previously an office building occupied by Fannie Mae. The development team is redeveloping the property into a 689-unit-residential building with 105,000 square feet of retail along Wisconsin Avenue.

“Redeveloping this property has allowed us to create vibrant spaces with amenities as the focal point,” Evan Weisman, president of Donohoe Development, said in a statement. “We are proud to have both [tenants] on board to shape Upton Place on Wisconsin into an attractive mixed-use destination and central gathering place for the community.” 

Upton Place was represented by Bert Donohoe and Don Konz of Donohoe Real Estate Services in both deals. Lidl was represented by Brad Buslik of H&R Retail, while Onelife Fitness was self-represented.

Requests for comment from Onelife Fitness or the brokers were not immediately returned, while the development team referred back to its company announcement for comment. 

Keith Loria can be reached at Kloria@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

AMAC and ROVR Secure $67M Loan to Build Amenitized Apartments in Aventura – Robert Khodadadian

AMAC and ROVR Secure $67M Loan to Build Amenitized Apartments in Aventura – Robert Khodadadian National real estate investor and developer AMAC plans to build a 290-unit apartment complex at 17990 West Dixie Highway in Aventura, Fla. AMAC secured a $67 million construction loan with Ocean Bank to kick-start the eight-story project, with a projected completion date within the first quarter of 2024. AMAC is partnering with Miami-based ROVR Development

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National real estate investor and developer AMAC plans to build a 290-unit apartment complex at 17990 West Dixie Highway in Aventura, Fla.

AMAC secured a $67 million construction loan with Ocean Bank to kick-start the eight-story project, with a projected completion date within the first quarter of 2024.

AMAC is partnering with Miami-based ROVR Development on the project, in their third joint development in South Florida.

Those who take up residence in this development will get more than just a roof over their heads, according to the developer. Access to a two-story gym, a spa and sauna area, a pool with covered lounge area, an outdoor kitchen and grilling areas, a dog wash, a club room, a library, a media room, a social lounge and a sunset terrace will come standard on-site.

“We are confident that this development will meet the new standard of luxury rentals, and we are excited to bring our next multifamily project to the area,” Maurice Kaufman, founding principal at AMAC, said in a statement.

It’s possible most residents will not need to leave the grounds. On-site amenities will include a convenience market, concierge, smart package center, and a parking garage with 36 charging stations for electric vehicles, as well as a 1,760 square feet of rental office spaces operated by Ora.

Ora specializes in operating private workspaces in apartment complexes where facilities are booked, paid for and unlocked over an app.

AMAC, formerly known as Arbor Multifamily Acquisition Company, was also part of a joint venture with ROVR Development in February, paying $6.6 million for a vacant site at 4465 Griffin Road in Hollywood, Fla., bordering Fort Lauderdale, Commercial Observer previously reported. The joint venture plans an eight-story building with 180 units as well as a gym, pool and outdoor lounge with a completion date in mid-2024.

The JV also recently completed Biscayne 112, a 402-unit multifamily property in North Miami.

Mark Hallum can be reached at mhallum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Fintech Firm Fora Financial Consolidates in Garment District – Robert Khodadadian

Fintech Firm Fora Financial Consolidates in Garment District – Robert Khodadadian Fintech firm Fora Financial is consolidating its offices to 1385 Broadway, where it has signed a nine-year lease for the entire 15th floor spanning 23,500 square feet. Fora will relocate in July from nearby 519 Eighth Avenue between West 35th and West 36th streets, where it has had a presence since 2015. Andrew Gutman, president

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Fintech firm Fora Financial is consolidating its offices to 1385 Broadway, where it has signed a nine-year lease for the entire 15th floor spanning 23,500 square feet.

Fora will relocate in July from nearby 519 Eighth Avenue between West 35th and West 36th streets, where it has had a presence since 2015.

Andrew Gutman, president of Fora Financial, said in a statement the Broadway building “ticked all of the key boxes.” The full-floor footprint allows the company to consolidate its city headquarters onto a single floor while the high-end space is being customized and built to its needs. 

Justin Halpern, Jennifer Konefsky and Edward Wartels of Cushman & Wakefield represented the tenant in the deal.  

Owned by Savitt Partners, the 23-story, 500,000-square-foot office tower is on the southwest corner of West 38th Street in the Garment District. It recently underwent a significant capital improvement and modernization program, including a new lobby, elevators and windows.  

Nicole Goetz, Brian Neugeboren and Bob Savitt at Savitt Partners represented the ownership in-house in the lease, which had an asking rent of $56 per foot.

 The movement of fintech companies to the area is what Neugeboren called a “huge trend that we’ve been seeing over the last few months.”

 Since launching in 2008, Fora has provided over $2.1 billion for business loans and revenue-based capital funding for small businesses with fast approvals, flexible rates and online tools for tracking through its proprietary software.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Manhattan luxury market slumps back toward normal – Robert Khodadadian

Following a year of record-setting luxury home sales, homes entering into contract priced at $4 million and above dwindled last week. A total of 23 contracts were signed between May 16 and 22, according to a weekly report by Olshan Realty. That’s the lowest since the first week of January 2022, when 21 contracts were …

Adam Neumann, Invictus Turn $70M Profit in Connecticut Multifamily Sale – Robert Khodadadian

Adam Neumann, Invictus Turn $70M Profit in Connecticut Multifamily Sale – Robert Khodadadian Adam Neumann and his investment partners just made a tidy profit of nearly $70 million in a Connecticut multifamily trade, sources told Commercial Observer.  Invictus Real Estate Partners, together with Neumann’s family office — 166 2nd Financial Services — just sold a 662-unit multifamily portfolio in Norwalk, Conn., to Beachwold Residential for roughly $293.5 million,

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Adam Neumann and his investment partners just made a tidy profit of nearly $70 million in a Connecticut multifamily trade, sources told Commercial Observer. 

Invictus Real Estate Partners, together with Neumann’s family office — 166 2nd Financial Services — just sold a 662-unit multifamily portfolio in Norwalk, Conn., to Beachwold Residential for roughly $293.5 million, having purchased the assets for $226 million less than two years ago.

The deal, which includes The Waypointe at 515 West Avenue and The Berkeley/  Quincy Lofts at nearby 30 Orchard Street, closed last week. 

Cushman & Wakefield’s Adam Spies, Adam Doneger, Brian Whitmer and Ryan Dowd arranged the sale.

The transit-oriented buildings are part of Norwalk’s redeveloped Waypointe District, which spans seven acres. The buildings are currently 96 percent leased. 

Constructed in 2014, The Waypointe was the first phase of the district’s revival. The 464-unit apartment community includes 56,000 square feet of retail and restaurant space and 1,027 parking spaces. The partnership purchased the asset in August 2020, paying $157 million, according to Commercial Real Estate Direct. 

The Berkeley and Quincy Lofts were completed in 2017, sit one block apart and comprise 198 units. Their construction represented the second phase of the redevelopment. The five-story, 129-unit Berkeley includes 10,331 square feet of ground-floor retail plus a 371-space parking garage. Quincy Lofts features 69 units plus 87 parking spaces. 

The previous acquisition price for The Berkeley and Quincy Lofts was roughly $69 million, with the partnership landing a $55.8 million acquisition loan for the purchase in February 2021, according to Real Estate Weekly. 

One source simply described the trade as “a successful and profitable deal” for Invictus and Neumann. 

The multifamily sector has been on fire from an investment standpoint these past two years, and the portfolio assets— located in Fairfield County, one hour from Manhattan— benefit from easy access to I-95 and the Metropolitan Transportation Authority’s South and East Norwalk train stations. 

The buildings also sit less than a mile from Norwalk Hospital— the area’s largest employer — and Fairfield University

Adam Neumann, who stepped down as CEO of WeWork in 2019 has been snapping up multifamily investment opportunities of late. In January, The Wall Street Journal reported that entities tied to Neumann had been quietly acquiring majority stakes in more than 4,000 apartments valued at more than $1 billion in Miami, Atlanta, Nashville, Tenn., Fort Lauderdale, Fla., and other U.S. cities.

A spokesperson for Neumann and C&W officials declined to comment. Invictus and Beachwold officials did not immediately return requests for comment. 

Cathy Cunningham can be reached at ccunningham@commercialobserver.com 

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Skylight, Invesco Land $114M Acquisition Loan for NJ Multifamily Buy – Robert Khodadadian

Skylight, Invesco Land $114M Acquisition Loan for NJ Multifamily Buy – Robert Khodadadian A joint venture between Invesco Real Estate Income Trust (INREIT) and Skylight Real Estate Partners has nabbed $113.5 million of acquisition financing to purchase a majority interest in a New Jersey multifamily asset, Commercial Observer has learned. U.S. Bank supplied the loan for the JV’s $160.5 million acquisition of Everly Roseland, a 384,648-square-foot, 360-unit garden-style

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A joint venture between Invesco Real Estate Income Trust (INREIT) and Skylight Real Estate Partners has nabbed $113.5 million of acquisition financing to purchase a majority interest in a New Jersey multifamily asset, Commercial Observer has learned.

U.S. Bank supplied the loan for the JV’s $160.5 million acquisition of Everly Roseland, a 384,648-square-foot, 360-unit garden-style apartment community in Roseland, N.J. The 1980-built property off Nob Hill Road comprises 30 two-story buildings and is 95 percent leased.

JLL Capital Markets arranged the transaction with a debt advisory team led by Michael Klein, Matthew Pizzolato, John Rose and Gerard Quinn.

R. Scott Dennis, president and CEO of INREIT, said increased remote working flexibility during the COVID-19 pandemic has driven up demand for multifamily investments in the New York City metropolitan area well above 2020 levels, particularly in suburban areas. 

“With more flexibility around work and the daily commute, the suburban locations that attracted strong demand during COVID have continued to experience strong demand growth alongside the recovery of city centers and urban areas,” Dennis said. “It’s difficult to build new housing stock in these markets, which is favorable for future leasing demand.” 

Dennis added that as interest rates rise, multifamily investments will become even more attractive because the impact on higher home mortgage payments could push more people to rental communities.

Through the recapitalization of Everly Roseland, Invesco and Skylight are planning to renovate units along with upgrades to common areas and the property’s exteriors. Skylight will serve as the property manager. 

“Everly Roseland is a well-performing property with a multitude of value creation strategies to unlock,” Andrew Miller, founding partner at Skylight Real Estate Partners, said in a statement. “We share the same vision as our partners at Invesco in continuing to transform Everly Roseland back to its premier status.”

The transaction marks Skylight’s third New Jersey investment in the past six months. The firm formed in early 2021. 

“We were proud to support our clients, INREIT and Skylight Real Estate Partners, in their acquisition of the highly sought-after Everly Roseland community,” Kim McKee, northeast region commercial real estate manager for U.S. Bank. “As working arrangements continue to evolve, we’ll continue to look for similar opportunities that deliver value to residents and investors alike.

– Andrew Coen can be reached at acoen@commercialobserver.com

 

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Facade Contractor Buys Industrial Building in Baltimore County for $10M – Robert Khodadadian

Facade Contractor Buys Industrial Building in Baltimore County for $10M – Robert Khodadadian Pioneer Cladding & Glazing Systems, an exterior facade contractor, has acquired 1407 Parker Road, a 103,640-square-foot industrial property in Halethorpe, Md., for $10.3 million.  The sale also included an adjacent .58-acre parcel at 1441 Knecht Avenue that will be utilized for parking and outside storage. MacKenzie Commercial Real Estate Services represented the seller, Pitts Realty.

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Pioneer Cladding & Glazing Systems, an exterior facade contractor, has acquired 1407 Parker Road, a 103,640-square-foot industrial property in Halethorpe, Md., for $10.3 million. 

The sale also included an adjacent .58-acre parcel at 1441 Knecht Avenue that will be utilized for parking and outside storage.

MacKenzie Commercial Real Estate Services represented the seller, Pitts Realty.

The building served as the headquarters for nearly three decades for David Edwards Furniture, a high-end furniture maker owned by the Pitts family, an entity that was acquired by Kimball International in late 2018. The Pitts family retained ownership of the building and negotiated a lease-back arrangement with Kimball, before the Indiana-based group decided to consolidate operations and close this facility last year.  

“There was a high level of interest from both users and investors,” Daniel Hudak, a senior vice president and principal of MacKenzie, told Commercial Observer. “The industrial real estate market remains a highly sought-after asset class driven by record low vacancy levels, increasing rental rates and favorable lending environment.”

Originally built in 1960, the industrial building features nearly 8,000 square feet of office space, five loading bays, eight interior dock positions and 62 surface parking spaces.

Pioneer currently operates five project-management, engineering and fabrication shop locations throughout the U.S., including two in the greater Maryland area. The company noted it would maintain its existing project-management facility in the Elkridge area and relocate its current fabrication shop on Alco Place in Halethorpe to the new space.

“Pioneer is a highly respected manufacturer within its industry with a strong foothold regionally,” Hudak said. “They recognized the value of the existing infrastructure left behind by Kimball and acted decisively to emerge as the winning bidder.”

Recent MacKenzie data shows the vacancy rate for warehouse/industrial product in the Baltimore County Southwest submarket is 5.3 percent, and 3.7 percent in the larger BWI corridor. 

Joining Hudak on the deal was MacKenzie’s Andrew Meeder. The new owner was self-represented, and the building was unoccupied at the time of the sale. 

Keith Loria can be reached at Kloria@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Jumbo Dumbo condo claims top Brooklyn contract – Robert Khodadadian

Eight years ago, Alloy Development filed for permits to build a waterfront condominium at 1 John Street, a joint effort with Monadnock Development. Since then, units from the project have made many appearances atop the weekly report by Compass of luxury Brooklyn homes to go into contract. Last week it happened again as a purchase …

Lone bidder Damac to buy Florida collapse site for $120M – Robert Khodadadian

Damac Properties is poised to buy and redevelop the Surfside collapse site where 98 people died last summer, as no other developers met the deadline to bid on the property. The Dubai-based developer was the stalking-horse bidder, setting a $120 million minimum price last year for the property at 8777 Collins Avenue. Earlier this month, …

GFP Real Estate Signs Nokia to Three More Years at 171 Madison Avenue – Robert Khodadadian

GFP Real Estate Signs Nokia to Three More Years at 171 Madison Avenue – Robert Khodadadian Nokia just Finnish-ed up a major lease extension for its offices at 171 Madison Avenue. The Finland-based telecommunications, information technology and electronics company signed a three-year extension for its existing 11,880-square-foot office on the 11th and 16th floors of the 17-story building owned by GFP Real Estate. Nokia first moved into 171 Madison Avenue in

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Nokia just Finnish-ed up a major lease extension for its offices at 171 Madison Avenue.

The Finland-based telecommunications, information technology and electronics company signed a three-year extension for its existing 11,880-square-foot office on the 11th and 16th floors of the 17-story building owned by GFP Real Estate.

Nokia first moved into 171 Madison Avenue in March 2020 when it finalized the acquisition of Elenion Technologies and has since used the space for its executive offices as well as a “clean lab” for testing energy saving-technologies under development. Elenion’s lease expired at the end of 2021.

One hundred and seventy-one Madison Avenue continues to attract major tenants of all types seeking a convenient location with space offering great light, upgraded finishes and the cachet of a Madison Avenue address,” Allen J. Gurevich of GFP, who represented the landlord in-house, said in a statement.

Christel Engel of Colliers represented Nokia in the transaction and did not immediately respond to a request for comment. The landlord declined to provide the specific asking rents, but said they generally are in the $50-per-square-foot range in the building.

Aside from Nolkia’s deal, Redstone Strategy Group, a business consulting and services firm, signed a new three-year lease for 2,300 square feet on the 12th floor, with Eli Someck representing the tenant in-house in the transaction. Gurevich also brokered on behalf of the landlord in the deal.

The 135,000-square-foot building is of 1918 vintage, designed by architect William H. Gompert but renovated with a new lobby, building entrance and elevators.

Mark Hallum can be reached at mhallum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Investment Bank Two Roads Relocating to 8K SF at 1001 Avenue of the Americas – Robert Khodadadian

Investment Bank Two Roads Relocating to 8K SF at 1001 Avenue of the Americas – Robert Khodadadian Two Roads Advisors, a small investment bank, is leasing 7,566 square feet at 1001 Avenue of the Americas to relocate from its offices at 589 Fifth Avenue, Commercial Observer has learned. The bank signed a five-year lease for the 23rd floor, which landlord, ABS Partners Real Estate’s James Caseley said was part of the migration pattern

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Two Roads Advisors, a small investment bank, is leasing 7,566 square feet at 1001 Avenue of the Americas to relocate from its offices at 589 Fifth Avenue, Commercial Observer has learned.

The bank signed a five-year lease for the 23rd floor, which landlord, ABS Partners Real Estate’s James Caseley said was part of the migration pattern of flight to quality from older, Cass B office space to newer — or newly renovated — assets that offer post-COVID amenities and easier access to mass transit.

“Tenants that would typically look in the Flatiron District are paying attention to what we are offering here, with our high-quality, modern installations,” Caseley said in a statement. “We have one of the best locations in the ‘Transportation Triangle.’ You can Walk to Penn Station, Grand Central, Port Authority, Times Square and Hudson Yards or take a multitude of [other] mass transportation options. It’s easily accessible from literally everywhere.”

Scott Vinett of JLL represented the tenant in the deal and did not immediately respond to a request for comment. Asking rents were not disclosed by ABS Partners.

After COVID-19 cleared out offices across the country and new variants delayed many workers’ return, Class A space has been the gold standard for businesses looking to lure back their employees. The first quarter of 2022 alone saw tenants signing up to 4.27 million square feet in Manhattan’s Class A buildings at an average asking rent of $87.09 per square foot, CO previously reported. Class B space just couldn’t keep up; only 1.64 million square feet was leased in the first quarter at an average of $59.11 a foot.

Mark Hallum can be reached at mhallum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Banks, tech among departures sinking Midtown office market – Robert Khodadadian

Midtown Manhattan’s struggles in the wake of the pandemic have reached a new low, with banks and big tech companies partly to blame. These companies are eschewing Midtown offices in favor of spots in trendier neighborhoods, the Wall Street Journal reported. The widespread flight to quality over the last year has seen companies drawn to …

How to Pinpoint the Key Factors for Evaluating Technology Partnerships – Robert Khodadadian

How to Pinpoint the Key Factors for Evaluating Technology Partnerships – Robert Khodadadian No company is an island, and no approach to technology is complete without a roster of partners who can help your company reach its full potential. Partner Insights spoke with Amrit Gill, global head of partnerships for Built Technologies, about how to approach your partnership strategy in order to optimize workflow and results.  Commercial Observer:

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No company is an island, and no approach to technology is complete without a roster of partners who can help your company reach its full potential. Partner Insights spoke with Amrit Gill, global head of partnerships for Built Technologies, about how to approach your partnership strategy in order to optimize workflow and results. 

Commercial Observer: Why are technology partnerships important? 

Amrit Gill: As head of partnerships, I look for collaboration opportunities with other organizations that can help move the dial from a one-to-many approach for clients. In a product-led organization, partnerships can build better solutions that directly fill client needs. And, when a sales or revenue organization has a dedicated one-to-one sales motion to try to solve for a client’s needs, it’s crucial to take a broader view by understanding the market landscape and how we can leverage strategic key partnerships to provide the best experience for the end user.

There must be a lot you need to take into account when determining potential partners.

Yes, absolutely. There are some key factors. How engaged is the partner? What are their goals in trying to solve for the end-user client, and how can we do that together? Rather than trying to be a one-stop shop for everything, how do we partner with best-in-class across the industry to provide the best experience for our clients?

Why should commercial real estate lenders seek technology solutions with partner programs?

The construction industry has not necessarily leveraged technology well to enhance productivity. As lenders think about how to evolve in this dynamic, technology-driven marketplace, we want to be able to offer lenders a full-cycle solution, and that might be with partners. We want to foster strong collaboration to provide solutions to the problems our customers face, meeting clients where they are with the systems they’re already using. If you have a platform to help you understand what your underwriting risk might be, then maybe we partner with that. Or perhaps we can leverage referrals to make sure they’re equipped with all the tools they need to get the job done. As a specific example, by developing integrations with core systems, Built is able to ensure flow of accurate information and eliminate duplicative data entry to streamline the processes for the day-to-day users — that’s adding value. We want to help you leverage data to allow you to make better-educated, data-driven decisions within your lending platform.

 

According to a 2017 McKinsey report, construction has been slower to adopt technology than other industries. How does that affect the importance of technology partnerships in the industry? 

Within finance, there’s been this construct of, you’ve got your book of ledger, your accounting platform, and your loan origination system, among others. All of these workflows have become modernized with technology. But the challenge is that they’re all very disparate sometimes. There’s a solution for everything, but where partners will come in handy is that they could help you bring that package together. I’ll use Built as an example. If we think about how some of our clients leverage our platform today, there are areas we expanded with partners to make that workflow easier. So, a partnership with Sage will help from an ERP accounting platform. It will bring in data and manage invoices. That’s just one piece of the puzzle. You still have to think about inspections, the draw management process, data, and analytics. That’s one of the areas least utilized in this industry — accurate, up-to-date data to provide data and analytic insights. With partnerships, you can bring in some of that data and help paint the full picture, giving you a better understanding of your organization.

How can technology partnerships improve workflows for commercial construction lenders?

If we think about pre-construction, construction and permanent construction as three categories, there are separate workflows for each stage of the process. Together, they build a layered ecosystem. There’s a layer of payments. There’s a layer of reporting. These layers are all intertwined and play a key role in facilitating construction projects of all sizes. When we think about workflows, it’s essential to also make sure we have a comprehensive understanding of how all of those pieces fit together. If we’re seeking out vendors and potential partnerships in general, those are the areas you have to understand about your business — or where there’s opportunity to improve those pieces. Then you have to find a partner that will allow you to collaborate and work in a consultative way to get the end result you need.

When companies are seeking potential vendor partnerships in the tech space, how can they evaluate a potential technology partner to ensure that they best serve that company’s needs?

There are a couple of key items and triggers that can help. One is, does this partner understand, and have the ability to support you from, a technology perspective? Do they have a modern technology infrastructure? Will your partner support you the way you need to be supported, from being able to answer and address client questions or queries, to getting legal or marketing documents to resolve problems quickly? Two other areas that are always top of mind are, does your partner understand your market landscape, and can they collaborate with you in a way that they can see industry trends and where your business is going? 

Construction as an industry is plagued with challenges, like any industry that was built on the importance of people interaction. How do you see technology, partners, and construction meeting the needs of users? 

The construction industry is going through its digital transformation now because it is an industry that has been driven by relationships, shaking hands, emails, phone calls — the opposite of technology. It’s a relationship-based business and has been for a very long time. Naturally, there can be hesitations about moving into a more automated process. It’s essential to automate where you can so that your team is then freed up to focus on what matters most: building relationships. Technology or transformation is not going to slow your business down. It’s actually meant to increase your business and allow you to have deeper personal interactions with your clients. Partnerships are the secret ingredient to getting the best of everything and being the most efficient, effective and productive you can be. They can help you understand the industry, reduce risk and cost, improve profitability, and generate new ideas. The challenge we’ve had historically is bringing along people who have been in the construction industry for decades, and now they have this new wave of tech. As new waves of technology enter the industry, we want to maintain some of the old standards and ways of doing business, and marry that with better technology and better infrastructure so we can have a better output. Technology should enable stronger interpersonal relationships by eliminating extraneous workflows, and technology partnerships aim to facilitate just that.

,

In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Capital Grille signs with Tishman Speyer, Irvine at MetLife Building – Robert Khodadadian

Tishman Speyer and Irvine Company are heating things up at 200 Park Avenue with a major restaurant lease. Capital Grille signed a 15,000-square-foot lease at the building, where it will replace Naples 45 along East 45th Street, the New York Post reported. The deal, which includes outdoor space, is reportedly one of the largest for …

Sagaponack waterfront estate sells for almost $48M – Robert Khodadadian

Adjacent Sagaponack parcels, one with a waterfront mansion, have been snapped up by an undisclosed buyer for almost all of the $48 million being asked. The sale took place in the “pre-marketing” phase of the listing, according to the Wall Street Journal, meaning it hadn’t even made it to market. The parcels are at 35 …

Madison Realty Capital Lends $23M on Nashville Resi Towers – Robert Khodadadian

Madison Realty Capital Lends $23M on Nashville Resi Towers – Robert Khodadadian M2 Development Partners has landed $23 million of construction financing to build two residential towers in Nashville, Commercial Observer has learned. Madison Realty Capital originated the loan for the pre-development work of M2’s project in Nashville’s Midtown and SoBro neighborhoods.  “As prominent businesses across industries such as Amazon, Ernst & Young, AllianceBernstein and Oracle move

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M2 Development Partners has landed $23 million of construction financing to build two residential towers in Nashville, Commercial Observer has learned.

Madison Realty Capital originated the loan for the pre-development work of M2’s project in Nashville’s Midtown and SoBro neighborhoods. 

“As prominent businesses across industries such as Amazon, Ernst & Young, AllianceBernstein and Oracle move and expand into Nashville, demand for high-quality residences continues to grow significantly,” Josh Zegen, managing principal and co-founder of Madison Realty Capital, said in a statement. “We are pleased to support two projects strategically located in Nashville poised to capitalize on the neighborhood’s live, work and shop proposition as renters seek modern, amenity-rich living options amid a dynamic employment market.” 

Zegen added that Nashville-based M2 is very committed to Tennessee’s largest city with plans to break ground on a new Ritz-Carlton hotel and residential tower later this year. 

The new multifamily development includes a 1.14-acre site on 500 Lafayette Street in Nashville’s SoBro section, where plans call for a roughly 340-unit building, outdoor space and underground parking. Another 15-story tower with 139 units will rise on a 0.78-acre site at 17th Avenue North and Patterson Street in the Midtown neighborhood. 

“Madison provided us with the necessary capital to continue advancing our pre-development activities with an eye on commencing construction in the fourth quarter of 2022,” Timothy Morris, managing principal of M2 Development Partners, said in a statement. 

Andrew Coen can be reached at acoen@commercialobserver.com

 

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Amazon to scrap industrial properties in warehouse strategy flip – Robert Khodadadian

Amazon is looking to put more on the market than its offerings as a one-stop shopping hub, reportedly backing off a chunk of industrial real estate. The e-commerce giant is looking to sublet at least 10 million square feet of warehouse space, people familiar with the situation tolf Bloomberg. The company could also end some …

Picking Office Locations Post-Roe v. Wade: ‘Nobody Wants to Touch It’ – Robert Khodadadian

Picking Office Locations Post-Roe v. Wade: ‘Nobody Wants to Touch It’ – Robert Khodadadian Companies saw this case looming like a “hurricane swirling off the coast.” So the bombshell report in early May that the U.S. Supreme Court intended to use Dobbs v. Jackson Women’s Health Organization to in effect overturn the judicial precedent protecting abortion nationwide reverberated quickly across corporate America, according to Jen Stark, the incoming co-director

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Companies saw this case looming like a “hurricane swirling off the coast.” So the bombshell report in early May that the U.S. Supreme Court intended to use Dobbs v. Jackson Women’s Health Organization to in effect overturn the judicial precedent protecting abortion nationwide reverberated quickly across corporate America, according to Jen Stark, the incoming co-director of the Center for Business and Social Justice. 

The uncompromising language in a leaked draft decision in the case underscored the urgency of the issue, and its potential to change how companies think about talent attraction and retention, human resources and health care policies, and the increasingly tricky job of site selection and locating offices across the country. 

“Basically, nobody wants to touch it, but everybody has to,” said Alison Taylor, executive director of Ethical Systems at New York University’s Stern School of Business, about the expected post-Roe v. Wade future arriving this summer. While many companies have remained silent in light of the draft decision, most are already in frenzied debate about what to do next. 

Site selection — an increasingly politicized, often fraught process, with corporations weighing talent recruitment, the potential wrath of local leaders, and the message they’re sending to consumers — has become even more complicated. The draft decision overturning Roe v. Wade has certainly upped the stakes for companies, since the existence of trigger laws and increasingly more restrictive aborition laws would immediately outlaw the practice in at least 13 states, threatening in particular one of the last decade’s economic development success stories, the so-called Texas Miracle. 

“Between developers and major real estate brokers in Texas, nobody’s excited about abortion becoming illegal,” said John Boyd, principal of The Boyd Company, a national site-selection firm. “There’s a concern from states in the Sun Belt that have been so successful that you can’t take the economic development success for granted. There’s legitimate concerns that this could eliminate a Texas city or put a rival location over the top.”

Not all companies, and not all facilities and locations, will look past the bottom line and give a second thought to fraught social and political issues. But with such a tight labor market, and fierce competition for talent, especially diverse talent, many firms will need to grapple with how new legislation and court precedents affect their operations. 

“Companies no longer view headquarters relocations as shuffling people and real estate. They’re part of a company’s brand, and a pivot point in their history,” Boyd said. 

The site-selection process for companies has already seen radical shifts in recent years, according to Wayne Gearey, chief labor economist for Savills. Labor issues — finding a site with the right cultural, social and, yes, political fit for the workforce — has become the driving concern in recent years. Deep data analytics go into making these decisions, including reams of demographic and financial information, psychographic segmentation, even scraping LinkedIn to see if local labor pools have sufficient skills and specialties. Analyses look down to the neighborhood level; it’s not about red and blue states, Gearey said, but a much more granular look at red and blue markets.

“Companies aren’t making decisions quickly,” Gearey said. “They’re being very cautious. Understanding politics here is important to understanding human, social, cultural capital.”

The Amazon HQ2 contest five years ago — which pitted municipalities and their incentive packages against each other, and showcased the data-heavy aspects of this kind of site search — also brought these issues to a wider audience. So did a recent run of electric vehicle and battery plants, including the Tesla Gigafactory in Sparks, Nev., and the FoxConn disaster in Wisconsin, where a $4.1 billion subsidy package for a cutting-edge electronics factory resulted in no new manufacturing plant.

Candidates from both political parties run on policies they argue will improve the business climate and create jobs. But Republicans in particular have enacted a number of economic policies and social legislation around hot-button issues, moves that the 24-hour news cycle and social media have amplified, and that have led to business losses and relocation. These include North Carolina’s Transgender Bathroom Ban Bill (which cost the state an estimated $3.76 billion in lost business, including the loss of a new office for real estate data firm CoStar); Indiana’s Religious Freedom Bill (which cost Indianapolis millions in convention business); and Major League Baseball pulling out of hosting the All-Star Game in Atlanta over Geogia’s restrictive voting laws. 

“Companies are only as good as their people, and this is a time of historic mobility, especially in the tech industry,” Boyd said. “Companies are conscious of not just brand implications of being in a state that’s criticized for banning abortion. It creates HR challenges in an already tight labor market.”  

Boyd suggests that booming cities like Phoenix and Nashville may suffer from restrictive laws and social legislation. 

“The site selection is a science and an art,” Boyd said. “There’s the measurement of taxes and business costs. It’s the qualitative part of the process, which looks into lifestyle issues, the attitude of HR leaders — that’s the art. 

The impact this will have on retaining and attracting female talent will be significant, said Stark. Her recent article on the business impact of Roe’s downfall cites research by Morning Consult that shows by a 2-to-1 margin employed adults would prefer to live in a state where abortion is legal and accessible, and 70 percent of consumers believe it’s important for companies to take a stand on social issues. Also, a new study found existing abortion restrictions already cause $105 billion in economic losses annually, including lost wages and retention. 

“What we’re fielding at a national level is business not minding extreme public policy in the state for many years on this issue,” Stark said. “Why haven’t we seen a similar response today, like we did to the 2016 North Carolina bathroom bill, to an issue that affects the health care of half the workplace? Because there’s a larger issue where we don’t fully monetize the impact of barriers to women being fully productive in the workplace, like child care. This is another issue where we don’t fully value women’s time and labor.” 

Analysts believe companies, especially those in service, tech, finance and design, will definitely provide employee health benefits to maintain access to abortions. Taylor of the Stern school says she believes this may be another reason to grant more remote work privileges to workers, and will push firms to have internal debates on these issues. Companies with operations in states with trigger laws may be offered access to these policies so their health care will be protected.

“Because of multiple extreme public policy measures, companies already have a playbook, if you will, for mitigating the harm of extreme social policy in the states,” Stark said. “Now it’s an opportunity to expand that to include abortion.”

Companies are now “beyond the performative” reactions to this issue, she said, and should take effective steps, such as minding where they host events and conferences, or locate future operations based on a state’s social policy climate. This draft of the Dobbs v. Jackson decison has raised alarms among many that the current Supreme Court may go after other court-affirmed rights, making this a true Cassandra moment for women’s rights supporters and abortion rights advocates. 

“There’s now going to become a trade-off between favorable tax regimes and health care and hassle, and the cost of having to deal with this issue,” Taylor said. “I don’t see how any kind of mid- or large-sized multinational cannot provide health care coverage or travel. There’s going to be so much employee pressure. We will tend to see it from any company that cares about their reputation, or has white-collar employees.”

Taylor also sees polarization and sorting increasing, and certain companies shying away from red states, as companies see the risks of providing health care and dealing with pushback from politicians, like Disney’s tussle with Florida Gov. Ron DeSantis, who orchestrated a move to strip the company of its special tax district because of its stance against the state’s so-called “Don’t Say Gay” law.

“Would you want to deal with that?” Taylor said. “Companies are lying awake at night, sweating, worrying about becoming the next Disney.” 

Amid these challenges, there are potential states that may see more attention from firms looking to avoid the challenges of locating in states like Texas or Florida, while still tapping into vibrant local economies and talent pools. Boyd suggested that firms may divide their locations, placing high-tech, white-collar work in blue states while locating manufacturing and less skilled labor in red states. In addition, states like Colorado and North Carolina, both led by pro-business Democrats with great job creation numbers and low taxes, and Nevada, with a growing tech sector and the right to abortion enshrined in state law, present less expensive options for those seeking to cater to a more liberal-minded workforce. Reno, Nev., which has seen extensive growth due the Tesla Gigafactory and low tax rates, offers an easy relocation option for Silicon Valley firms bristling at California’s higher costs of doing business.

“Austin, because of all the growth and success, is already experiencing a lot of wage and real estate inflationary pressures,” Boyd said. “This [Dobbs decision] on top of that could be another economic development narrative for a market like northern Nevada.” 

Boyd said blue states in the Northeast, such as New Jersey, are positioning themselves as inclusive, welcoming business climates. Netflix, which has checked out Fort Monmouth, N.J., as a potential production site, reportedly received a call from New Jersey Gov. Phil Murphy after Georgia, another film powerhouse, passed its new voting laws.  

Not everyone believes that the draft Dobbs decision has the potential to radically change how companies look at locations. Incentives, labor availability and costs, as well as logistics and supply-chain issues, impact these decisions much more than political issues, said C.J. Girod, managing principal and founder of Responsible Economic Development Incentives, a consultancy that works to eliminate wasteful spending in economic development. 

“It’s obviously an issue where there are folks on both sides, and I don’t know that corporations want to be in the business of picking a side on this,” Girod said. “In my mind, this is different than other issues, and it’ll be harder for corporate America to take a position on this, versus, say, the transgender bill in North Carolina.” 

Business as usual, especially the way that massive money is spent on subsidies to lure business, isn’t likely to change due to political disagreements, said Pat Garofalo, an incentives expert and the director of state and local policy at the American Economic Liberties Project. For instance, Disney’s battle over the special tax district in Florida hasn’t impacted its chance to land a $570 million state subsidy for a new campus in Lake Nona, Fla. 

Others see the political winds changing, causing a pushback against ESG requirements and so-called “woke culture,” said Boyd. There’s also a question that executives are asking about blue state cities, and their issues with crime, homelessness and cost of housing issues. It seems like office politics has taken on a new, more difficult dimension.

“We’re in this spiral,” Taylor said. “And this is only going to get worse in the near future.” 

,

In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Picking Office Locations Post-Roe v. Wade: ‘Nobody Wants to Touch It’ – Robert Khodadadian

Picking Office Locations Post-Roe v. Wade: ‘Nobody Wants to Touch It’ – Robert Khodadadian Companies saw this case looming like a “hurricane swirling off the coast.” So the bombshell report in early May that the U.S. Supreme Court intended to use Dobbs v. Jackson Women’s Health Organization to in effect overturn the judicial precedent protecting abortion nationwide reverberated quickly across corporate America, according to Jen Stark, the incoming co-director

,

Companies saw this case looming like a “hurricane swirling off the coast.” So the bombshell report in early May that the U.S. Supreme Court intended to use Dobbs v. Jackson Women’s Health Organization to in effect overturn the judicial precedent protecting abortion nationwide reverberated quickly across corporate America, according to Jen Stark, the incoming co-director of the Center for Business and Social Justice. 

The uncompromising language in a leaked draft decision in the case underscored the urgency of the issue, and its potential to change how companies think about talent attraction and retention, human resources and health care policies, and the increasingly tricky job of site selection and locating offices across the country. 

“Basically, nobody wants to touch it, but everybody has to,” said Alison Taylor, executive director of Ethical Systems at New York University’s Stern School of Business, about the expected post-Roe v. Wade future arriving this summer. While many companies have remained silent in light of the draft decision, most are already in frenzied debate about what to do next. 

Site selection — an increasingly politicized, often fraught process, with corporations weighing talent recruitment, the potential wrath of local leaders, and the message they’re sending to consumers — has become even more complicated. The draft decision overturning Roe v. Wade has certainly upped the stakes for companies, since the existence of trigger laws and increasingly more restrictive aborition laws would immediately outlaw the practice in at least 13 states, threatening in particular one of the last decade’s economic development success stories, the so-called Texas Miracle. 

“Between developers and major real estate brokers in Texas, nobody’s excited about abortion becoming illegal,” said John Boyd, principal of The Boyd Company, a national site-selection firm. “There’s a concern from states in the Sun Belt that have been so successful that you can’t take the economic development success for granted. There’s legitimate concerns that this could eliminate a Texas city or put a rival location over the top.”

Not all companies, and not all facilities and locations, will look past the bottom line and give a second thought to fraught social and political issues. But with such a tight labor market, and fierce competition for talent, especially diverse talent, many firms will need to grapple with how new legislation and court precedents affect their operations. 

“Companies no longer view headquarters relocations as shuffling people and real estate. They’re part of a company’s brand, and a pivot point in their history,” Boyd said. 

The site-selection process for companies has already seen radical shifts in recent years, according to Wayne Gearey, chief labor economist for Savills. Labor issues — finding a site with the right cultural, social and, yes, political fit for the workforce — has become the driving concern in recent years. Deep data analytics go into making these decisions, including reams of demographic and financial information, psychographic segmentation, even scraping LinkedIn to see if local labor pools have sufficient skills and specialties. Analyses look down to the neighborhood level; it’s not about red and blue states, Gearey said, but a much more granular look at red and blue markets.

“Companies aren’t making decisions quickly,” Gearey said. “They’re being very cautious. Understanding politics here is important to understanding human, social, cultural capital.”

The Amazon HQ2 contest five years ago — which pitted municipalities and their incentive packages against each other, and showcased the data-heavy aspects of this kind of site search — also brought these issues to a wider audience. So did a recent run of electric vehicle and battery plants, including the Tesla Gigafactory in Sparks, Nev., and the FoxConn disaster in Wisconsin, where a $4.1 billion subsidy package for a cutting-edge electronics factory resulted in no new manufacturing plant.

Candidates from both political parties run on policies they argue will improve the business climate and create jobs. But Republicans in particular have enacted a number of economic policies and social legislation around hot-button issues, moves that the 24-hour news cycle and social media have amplified, and that have led to business losses and relocation. These include North Carolina’s Transgender Bathroom Ban Bill (which cost the state an estimated $3.76 billion in lost business, including the loss of a new office for real estate data firm CoStar); Indiana’s Religious Freedom Bill (which cost Indianapolis millions in convention business); and Major League Baseball pulling out of hosting the All-Star Game in Atlanta over Geogia’s restrictive voting laws. 

“Companies are only as good as their people, and this is a time of historic mobility, especially in the tech industry,” Boyd said. “Companies are conscious of not just brand implications of being in a state that’s criticized for banning abortion. It creates HR challenges in an already tight labor market.”  

Boyd suggests that booming cities like Phoenix and Nashville may suffer from restrictive laws and social legislation. 

“The site selection is a science and an art,” Boyd said. “There’s the measurement of taxes and business costs. It’s the qualitative part of the process, which looks into lifestyle issues, the attitude of HR leaders — that’s the art. 

The impact this will have on retaining and attracting female talent will be significant, said Stark. Her recent article on the business impact of Roe’s downfall cites research by Morning Consult that shows by a 2-to-1 margin employed adults would prefer to live in a state where abortion is legal and accessible, and 70 percent of consumers believe it’s important for companies to take a stand on social issues. Also, a new study found existing abortion restrictions already cause $105 billion in economic losses annually, including lost wages and retention. 

“What we’re fielding at a national level is business not minding extreme public policy in the state for many years on this issue,” Stark said. “Why haven’t we seen a similar response today, like we did to the 2016 North Carolina bathroom bill, to an issue that affects the health care of half the workplace? Because there’s a larger issue where we don’t fully monetize the impact of barriers to women being fully productive in the workplace, like child care. This is another issue where we don’t fully value women’s time and labor.” 

Analysts believe companies, especially those in service, tech, finance and design, will definitely provide employee health benefits to maintain access to abortions. Taylor of the Stern school says she believes this may be another reason to grant more remote work privileges to workers, and will push firms to have internal debates on these issues. Companies with operations in states with trigger laws may be offered access to these policies so their health care will be protected.

“Because of multiple extreme public policy measures, companies already have a playbook, if you will, for mitigating the harm of extreme social policy in the states,” Stark said. “Now it’s an opportunity to expand that to include abortion.”

Companies are now “beyond the performative” reactions to this issue, she said, and should take effective steps, such as minding where they host events and conferences, or locate future operations based on a state’s social policy climate. This draft of the Dobbs v. Jackson decison has raised alarms among many that the current Supreme Court may go after other court-affirmed rights, making this a true Cassandra moment for women’s rights supporters and abortion rights advocates. 

“There’s now going to become a trade-off between favorable tax regimes and health care and hassle, and the cost of having to deal with this issue,” Taylor said. “I don’t see how any kind of mid- or large-sized multinational cannot provide health care coverage or travel. There’s going to be so much employee pressure. We will tend to see it from any company that cares about their reputation, or has white-collar employees.”

Taylor also sees polarization and sorting increasing, and certain companies shying away from red states, as companies see the risks of providing health care and dealing with pushback from politicians, like Disney’s tussle with Florida Gov. Ron DeSantis, who orchestrated a move to strip the company of its special tax district because of its stance against the state’s so-called “Don’t Say Gay” law.

“Would you want to deal with that?” Taylor said. “Companies are lying awake at night, sweating, worrying about becoming the next Disney.” 

Amid these challenges, there are potential states that may see more attention from firms looking to avoid the challenges of locating in states like Texas or Florida, while still tapping into vibrant local economies and talent pools. Boyd suggested that firms may divide their locations, placing high-tech, white-collar work in blue states while locating manufacturing and less skilled labor in red states. In addition, states like Colorado and North Carolina, both led by pro-business Democrats with great job creation numbers and low taxes, and Nevada, with a growing tech sector and the right to abortion enshrined in state law, present less expensive options for those seeking to cater to a more liberal-minded workforce. Reno, Nev., which has seen extensive growth due the Tesla Gigafactory and low tax rates, offers an easy relocation option for Silicon Valley firms bristling at California’s higher costs of doing business.

“Austin, because of all the growth and success, is already experiencing a lot of wage and real estate inflationary pressures,” Boyd said. “This [Dobbs decision] on top of that could be another economic development narrative for a market like northern Nevada.” 

Boyd said blue states in the Northeast, such as New Jersey, are positioning themselves as inclusive, welcoming business climates. Netflix, which has checked out Fort Monmouth, N.J., as a potential production site, reportedly received a call from New Jersey Gov. Phil Murphy after Georgia, another film powerhouse, passed its new voting laws.  

Not everyone believes that the draft Dobbs decision has the potential to radically change how companies look at locations. Incentives, labor availability and costs, as well as logistics and supply-chain issues, impact these decisions much more than political issues, said C.J. Girod, managing principal and founder of Responsible Economic Development Incentives, a consultancy that works to eliminate wasteful spending in economic development. 

“It’s obviously an issue where there are folks on both sides, and I don’t know that corporations want to be in the business of picking a side on this,” Girod said. “In my mind, this is different than other issues, and it’ll be harder for corporate America to take a position on this, versus, say, the transgender bill in North Carolina.” 

Business as usual, especially the way that massive money is spent on subsidies to lure business, isn’t likely to change due to political disagreements, said Pat Garofalo, an incentives expert and the director of state and local policy at the American Economic Liberties Project. For instance, Disney’s battle over the special tax district in Florida hasn’t impacted its chance to land a $570 million state subsidy for a new campus in Lake Nona, Fla. 

Others see the political winds changing, causing a pushback against ESG requirements and so-called “woke culture,” said Boyd. There’s also a question that executives are asking about blue state cities, and their issues with crime, homelessness and cost of housing issues. It seems like office politics has taken on a new, more difficult dimension.

“We’re in this spiral,” Taylor said. “And this is only going to get worse in the near future.” 

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Brooklyn Heights penthouse breaks rental record – Robert Khodadadian

Less than a year after a Brooklyn Heights townhouse set the mark for the borough’s priciest rental, a nearby penthouse has beaten it — by a third. The penthouse at 67 Livingston Street was on the market for only two days before new tenants landed it for $40,000 a month — sight unseen. It’s the …

Manhattan retail rents tick up as recovery slogs along – Robert Khodadadian

Manhattan retail rents are on the rise, but remain below pre-pandemic peaks. Of the 17 major Manhattan retail corridors analyzed for a report by the Real Estate Board of New York, nine had average asking rent per square foot grow from Fall 2021. In the wake of the pandemic, supply chain issues, soaring prices and …

Introducing Equiem One: The First All-in-One TenX, Ops & Data Platform – Robert Khodadadian

Introducing Equiem One: The First All-in-One TenX, Ops & Data Platform – Robert Khodadadian Modern workplaces are complex spaces. A dizzying array of stakeholders contribute to the management of every office, including landlords, portfolio managers, building managers and workplace managers. The often tangled web of systems used by these stakeholders only intensifies that complexity. Data and analytics tools gauge the effectiveness of their strategies. A tenant experience platform harnesses

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Modern workplaces are complex spaces. A dizzying array of stakeholders contribute to the management of every office, including landlords, portfolio managers, building managers and workplace managers. The often tangled web of systems used by these stakeholders only intensifies that complexity.

Data and analytics tools gauge the effectiveness of their strategies. A tenant experience platform harnesses that engagement, driving users to interact with the building and all its amenities. Meanwhile, these amenities are managed – either online or manually – with more systems still.

At Equiem, we’ve spent more than a decade taking stock of the complicated world of commercial real estate. Today, we ask one simple question: What if everything could be managed with one tool? 

Equiem One is that tool.

What is Equiem One?

Equiem One is the next great leap forward for Equiem’s Workplace Experience technology, combining TenX, building ops, and data solutions in a single, streamlined hub.

By bringing everything Equiem does into one place, we’re making the workplace a more manageable, more human place. Every user can take advantage of a unique, customizable view that reflects their role within the broader ecosystem.

Each stakeholder’s view features the tools and information they need to do their job – all available at a glance. Workplace managers have all the content tools and management systems they need at their fingertips. Property managers reap the benefits of one simple yet feature-rich tool to manage all their building’s systems – from events planning to access management.   

Equiem one features interfaces tailored to each stakeholder’s needs.

For individual employees, Equiem One offers a more intuitive way of interacting with the workplace online. The modular design presents an instant, high-level overview of everything that matters to them, with dynamic news and events feeds sitting alongside tools to access amenities, building services, bookable spaces, and local food and retail providers.

And it’s easy to dig deeper. Each widget within the modular overview can be accessed, allowing full interaction with the systems in question. Users can read the content that catches their eye, RSVP to the events they’re looking forward to, access robust eCommerce shopping options, and more.

Connected spaces are collaborative spaces

Relying on disparate, even conflicting, systems can create roadblocks in the workplace. When building managers use different tools than workplace managers, collaboration can be hampered. By connecting every stakeholder with a single, shared system, our goal is to make the workplace a more collaborative space.

Our vision is a workplace where building managers can freely collaborate on content strategies with workplace managers; where the data generated from user engagement can be leveraged at every level of the organization to create a better workplace for the people who work there. And, of course, that improved experience will translate into deeper tenant loyalty and, ultimately, retention.

Uncompromising simplicity

Equiem One aims to simplify the way workplaces are managed without simplifying what they are capable of. Despite streamlining the tools, the features available are as powerful as ever. The ability to control spaces, content, events, and building operations is only deepened by bringing those tools onto a more collaborative platform.

In the end, that’s what Equiem One is all about. We have a vision of a more human workplace … a workplace that truly works for the people within it.

Equiem One makes that vision a reality.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Adaptive Reuse Offers Advantages to Affordable Housing Developers – Robert Khodadadian

Adaptive Reuse Offers Advantages to Affordable Housing Developers – Robert Khodadadian Taking vacant properties and adapting them for use as affordable housing can help developers save money while reducing their environmental footprint. Partner Insights spoke to Jack Bernhard, executive director of community development real estate for JPMorgan Chase, about this approach.   Commercial Observer: How much affordable housing across the country is currently adaptive reuse as

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Taking vacant properties and adapting them for use as affordable housing can help developers save money while reducing their environmental footprint. Partner Insights spoke to Jack Bernhard, executive director of community development real estate for JPMorgan Chase, about this approach.

 

Commercial Observer: How much affordable housing across the country is currently adaptive reuse as opposed to new construction?

Jack Bernhard

Jack Bernhard: I’d estimate around 25 percent of affordable housing is currently created through the adaptive reuse of properties. Today, most affordable housing is still new construction.

What are the benefits for developers of creating affordable housing through adaptive reuse?

These buildings are often located in favorable places. Schools, for example, are one of the building types that have been adapted into affordable housing because they’re typically located in residential areas. Schools generally have good bones, so they can be less expensive to convert. Adding new windows, mechanical systems and roofing with improved efficiency ratings can have a positive impact on the environment. Common spaces such as gyms or auditoriums can be adapted to create building amenities for the residents. Taking steps as small as replacing the windows can make a building more energy efficient while still preserving its character and that of the neighborhood.

What are some of the challenges faced by developers who engage in adaptive reuse for affordable housing?

Construction issues are probably the most challenging and costly. There was a building in Grand Rapids, Mich., that was constructed in different phases. One phase of the building was situated a foot lower than the other because the land shifted over time. Situations like this require an experienced developer who has encountered something like it before and knows how to handle it. In this case, the developer found a world-renowned structural engineer to assist and was able to complete the project within budget. Unforeseen issues like this are the reason we include a contingency factor of around 10 percent in the budget. Other challenges can be environmental. Buildings can have asbestos contamination, lead-based paint or underground storage tanks that had gasoline or oil stored in them. 

What programs does JPMorgan Chase have in place to assist those who are engaging in adaptive reuse?

There are a number of things we do to help bring these projects to fruition. First, there are tax-credit programs that can be used to help with the renovation and adaptive reuse of these buildings, including Low Income Housing Tax Credit (LIHTC), New Markets Tax Credit (NMTC) and Historic Tax Credit (HTC). JPMorgan Chase purchases these credits and invests the proceeds in the building. Chase has invested millions of dollars across the U.S., and those funds are used to renovate buildings into affordable housing or vital community facilities and small businesses that contribute to thriving neighborhoods. 

For example, last year we invested in a project on the South Side of Chicago. A storage building had been vacant for many years. It’s being converted into a healthy lifestyle building in an area lacking health care facilities and other neighborhood amenities, with the help of NMTC equity. 

JPMorgan Chase invests hundreds of millions of dollars to preserve and reuse existing buildings annually throughout the country.

 

Do you have a few other examples you can share?

We provided $85.5 million in construction/bridge financing for the redevelopment of Lawson House, Chicago’s 24-story, 583-unit single-resident-occupancy development, into a 409-unit affordable housing development with all units having their own bathrooms and kitchen areas. Chase invested $82 million in the project through the purchase of federal HTC and housing tax credit. This was the third-largest investment Chase ever made in an affordable housing development. Eighty percent of the units will be subject to project-based vouchers, and the other 20 percent will be restricted to tenants with incomes of 60 percent or less of average median income (AMI). We also provided a $15 million construction loan in Milwaukee to finance the renovation of a vacant three-story school into 42 units and the new construction of a building containing 40 units. Over 80 percent of this project will be affordable to families with incomes ranging between 30 and 60 percent of AMI.   

Are there any additional mechanisms in place for financial assistance from the government for developers doing adaptive reuse?

All the tax credit programs — LIHTC, NMTC and HTC — along with the funds provided by investors buying these credits are make-or-break for these projects. Without these programs, these projects would not happen, because they may not otherwise be economically feasible. Without these programs, a lot of buildings would just be demolished.

In addition, the government might freeze the taxes for a period of time, or the state could incentivize environmental cleanup with brownfield tax credits. Tax Increment Financing (TIF) is also an integral part of funding for these types of buildings, but is not available in all cities. 

How common do you see this sort of adaptive reuse becoming in the long term?

I think it’s going to be a popular trend as more properties become vacant due to fewer people working in offices, companies requiring less space, and schools closing due to declining enrollment or new schools being constructed to replace buildings that have become obsolete. Oftentimes these buildings are located in favorable areas where it’s typically harder for a developer to obtain space and the acquisition price may be satisfactory. It’s something we want developers to look at to help stabilize and improve a neighborhood. Neighborhoods are being revitalized by putting a building back into use and providing quality housing or services for the residents and community.

View more articles on affordable housing here.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

CoStar Group Publishes New Retail Sector Findings

CoStar Group Publishes New Retail Sector Findings businesswire.com – Researchers at CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercialTweeted by @NewsFromBW https://twitter.com/NewsFromBW/status/1527291773583695875

businesswire.com – Researchers at CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial

Tweeted by @NewsFromBW https://twitter.com/NewsFromBW/status/1527291773583695875Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

NNN Cap Rates Have Continued to Compress, Inflation Could Change That

NNN Cap Rates Have Continued to Compress, Inflation Could Change That globest.com – Voracious appetite for net-lease product has propped up values but if inflation continues to push the 10-Year Treasury up cap rates will follow.Tweeted by @PWcre https://twitter.com/PWcre/status/1527665509319188480

globest.com – Voracious appetite for net-lease product has propped up values but if inflation continues to push the 10-Year Treasury up cap rates will follow.

Tweeted by @PWcre https://twitter.com/PWcre/status/1527665509319188480Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Jonathan Gray, Ken Caplan and Kathleen McCarthy

Jonathan Gray, Ken Caplan and Kathleen McCarthy commercialobserver.com – A $550 billion global real estate portfolio that comprises some of the most coveted asset classes in some of the most competitive markets. Some of the most high-profile transactions in the industry. …Tweeted by @blackstone https://twitter.com/blackstone/status/1527681809995034627

commercialobserver.com – A $550 billion global real estate portfolio that comprises some of the most coveted asset classes in some of the most competitive markets. Some of the most high-profile transactions in the industry. …

Tweeted by @blackstone https://twitter.com/blackstone/status/1527681809995034627Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Local CRE Execs Launch Philly Chapter Of African American Real Estate Professionals

Local CRE Execs Launch Philly Chapter Of African American Real Estate Professionals bisnow.com – The founders of the Philadelphia chapter of African American Real Estate Professionals want to create a clearinghouse for diverse participation in CRE.Tweeted by @Bisnow https://twitter.com/Bisnow/status/1528677206150500352

bisnow.com – The founders of the Philadelphia chapter of African American Real Estate Professionals want to create a clearinghouse for diverse participation in CRE.

Tweeted by @Bisnow https://twitter.com/Bisnow/status/1528677206150500352Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

11 Best Real Estate Investing Apps in 2022

11 Best Real Estate Investing Apps in 2022 howtofire.com – Real estate investing apps allow you to monitor and keep track of your portfolio even on the go. Here are our top 11 apps to help you build your real estate portfolio.Tweeted by @BlankenshipFP https://twitter.com/BlankenshipFP/status/1527687602236805122

howtofire.com – Real estate investing apps allow you to monitor and keep track of your portfolio even on the go. Here are our top 11 apps to help you build your real estate portfolio.

Tweeted by @BlankenshipFP https://twitter.com/BlankenshipFP/status/1527687602236805122Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Council Post: The Transformation Of An Industry: Blockchain-Based Real Estate Assets

Council Post: The Transformation Of An Industry: Blockchain-Based Real Estate Assets forbes.com – The tokenization of real estate assets is flipping the equity and liquidity paradigm that has long limited real estate investment to the elite class of investors.Tweeted by @Web3Lua https://twitter.com/Web3Lua/status/1528535717248385028

forbes.com – The tokenization of real estate assets is flipping the equity and liquidity paradigm that has long limited real estate investment to the elite class of investors.

Tweeted by @Web3Lua https://twitter.com/Web3Lua/status/1528535717248385028Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Global Real Estate Returns Highest since 2006 on Industrial Strength

Global Real Estate Returns Highest since 2006 on Industrial Strength commercialsearch.com – The MSCI Global Annual Property Index for 2021 was the best annual performance since 2006.

commercialsearch.com – The MSCI Global Annual Property Index for 2021 was the best annual performance since 2006.

Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

2022 Net Lease Office Sales Volume and Cap Rates

2022 Net Lease Office Sales Volume and Cap Rates commercialsearch.com – The single-tenant office market set two new records in 2021.

commercialsearch.com – The single-tenant office market set two new records in 2021.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

How Much Money Do You Need to Invest in Real Estate?

How Much Money Do You Need to Invest in Real Estate? reliant-mgmt.com – Curious about the between residential and commercial real estate investing? We will explain how much money you really need to invest.Tweeted by @ReliantREM https://twitter.com/ReliantREM/status/1528526262993575936

reliant-mgmt.com – Curious about the between residential and commercial real estate investing? We will explain how much money you really need to invest.

Tweeted by @ReliantREM https://twitter.com/ReliantREM/status/1528526262993575936Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

CrowdStreet Review – Commercial Real Estate Investing

CrowdStreet Review – Commercial Real Estate Investing doughroller.net – If you’re looking to spread your investments into sophisticated commercial real estate, Crowdstreet is a platform you need to check out. It offers above average returns, and can be an excellent compl…Tweeted by @markinjax https://twitter.com/markinjax/status/1528639394713944065

doughroller.net – If you’re looking to spread your investments into sophisticated commercial real estate, Crowdstreet is a platform you need to check out. It offers above average returns, and can be an excellent compl…

Tweeted by @markinjax https://twitter.com/markinjax/status/1528639394713944065Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Maverick Buys $110M Note on Chetrit’s 34th Street Hotel  – Robert Khodadadian

Maverick Buys $110M Note on Chetrit’s 34th Street Hotel  – Robert Khodadadian Maverick Real Estate Partners has purchased the $110 million note on Chetrit Group’s planned 323-key hotel at 255 West 34th Street, sources familiar with the trade told Commercial Observer.  Maverick — a New York City-based firm that acquires and originates commercial real estate loans — purchased the loan at a “slight discount” to par, sources

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Maverick Real Estate Partners has purchased the $110 million note on Chetrit Group’s planned 323-key hotel at 255 West 34th Street, sources familiar with the trade told Commercial Observer. 

Maverick — a New York City-based firm that acquires and originates commercial real estate loans — purchased the loan at a “slight discount” to par, sources said, although the exact purchase price couldn’t immediately be ascertained.  

The debt opportunity wasn’t widely marketed but rather “quietly shopped” by Cushman & Wakefield’s Adam Spies, Lauren Kaufman and Daniel OBrien, sources said. 

According to city property records, Arbor Commercial Mortgage was the previous lender on the project. Arbor officials declined to comment. 

One source said the loan was current and “nearing maturity” at the time of the sale. 

Construction is currently underway at the hotel, which sits in a prime spot between Seventh and Eighth avenues overlooking Moynihan Train Hall and across from One Penn Plaza.  

The 155,594-square-foot hotel is designed by Stonehill Taylor Architects and planned as a Hotel Indigo, which is part of the IHG hotels and resorts family of brands. 

Like most other buildings under construction in New York City during the COVID-19 pandemic, the hotel’s development stalled during 2020, picking back up in late 2021. Chetrit is said to have recently invested a further $25 million into the asset. 

The developer jointly purchased an assemblage of retail properties at 251-263 West 34th Street with Cornell Realty Management  in 2014. The two firms later parted ways and divided the assemblage — each taking 80 feet of frontage — with Chetrit getting the 255 West 34th parcel and closing construction financing for its hotel and retail asset in 2017

The property includes 15,000 square feet of retail space, with hotel rooms starting on the fourth floor.

Elsewhere in New York City, Chetrit Group is having a busy second quarter. Only last week, the firm locked down $714 million in financing for the two Upper East Side rental towers it owns with Stellar Management

Officials at Chetrit Group couldn’t be reached for comment. Officials at Maverick Real Estate Partners didn’t return a request for comment. A C&W spokesperson declined to comment. 

Cathy Cunningham can be reached at ccunningham@commercialobserver.com.

,

In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Damac Properties Wins Site of Deadly Condo Collapse with $120M Bid – Robert Khodadadian

Damac Properties Wins Site of Deadly Condo Collapse with $120M Bid – Robert Khodadadian The site of the deadly collapse of the Champlain Towers South condominium in Surfside, Fla. will be sold to the stalking-horse bidder for $120 million, after no new bidders came forward ahead of a Friday deadline. The buyer is Dubai-based developer, Damac Properties. It made the offer back in August and has since had access

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The site of the deadly collapse of the Champlain Towers South condominium in Surfside, Fla. will be sold to the stalking-horse bidder for $120 million, after no new bidders came forward ahead of a Friday deadline.

The buyer is Dubai-based developer, Damac Properties. It made the offer back in August and has since had access to the 1.9-acre site to perform tests as part of its due diligence.   

The deal comes less than a year after the collapse last June and just over a week after another milestone in the case — an almost $1 billion settlement for the injured survivors and family members of the 98 victims. 

The proceeds of the land sale will go towards compensating the victims who lost property and the family members of the deceased. 

An auction was scheduled for this coming Tuesday. Avison Young’s Michael Fay, the broker leading the sale, said that other developers had expressed interest. But no competing came in by the deadline Friday, effectively canceling the auction. 

The oceanfront parcel sits in a prime spot, along the Surfside boardwalk and just north of Miami Beach at 8777 Collins Avenue. Damac, led by Hussain Sajwani, will most likely build a luxury condominium, a growing trend among developers looking to cash in on Miami’s red-hot residential market. 

The sale has come under fire from some family members, who proposed a land swap. They suggested that the nearby Surfside Community Center be sold instead, while the Champlain site would house a memorial. 

The land on which the Champlain building stood is a “burial site for us,” Carlos Wainberg, who lost family members in the collapse, said in a court hearing last September. “To see a high-end development built would be very hard for all of us.”

But Surfside town officials and Miami-Dade Circuit Court Judge Michael Hanzman, who’s presiding over the case, shot down the proposal. Hanzman has been clear from the outset that he wished to see the land sold promptly, so the victims could be compensated.

Julia Echikson can be reached at jechikson@commercialobserver.com

,

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REAL ESTATE BRIEFS: MAY 21

REAL ESTATE BRIEFS: MAY 21 reviewjournal.com – Tour de France event comes to Las VegasTweeted by @PowerBrokerCRM https://twitter.com/PowerBrokerCRM/status/1527953101721698304

reviewjournal.com – Tour de France event comes to Las Vegas

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CenterPoint Pays $47.5M for Miami Gardens Industrial Property

CenterPoint Pays $47.5M for Miami Gardens Industrial Property therealdeal.com – CenterPoint Properties bought an outdoor truck storage facility in Miami Gardens for $47.5 million.Tweeted by @RicSFLOffice https://twitter.com/RicSFLOffice/status/1527085685026410497

therealdeal.com – CenterPoint Properties bought an outdoor truck storage facility in Miami Gardens for $47.5 million.

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Central Florida tops strongest commercial real estate markets in US

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thecapitolist.com – The Orlando-Kissimmee-Sanford metropolitan area is the strongest commercial real estate market in the nation, according to a recently published report by the National Association of Realtors. Orlando…

Tweeted by @RicSFLOffice https://twitter.com/RicSFLOffice/status/1526994924251381760Read More

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Apollo Commercial Real Estate Finance: Challenges And Prospects

Apollo Commercial Real Estate Finance: Challenges And Prospects seekingalpha.com – Apollo Commercial Real Estate Finance is an American mortgage REIT company that has a portfolio that consists primarily of free float mortgages and is geographically diversified.Tweeted by @EINRealEstate https://twitter.com/EINRealEstate/status/1526714359157751810

seekingalpha.com – Apollo Commercial Real Estate Finance is an American mortgage REIT company that has a portfolio that consists primarily of free float mortgages and is geographically diversified.

Tweeted by @EINRealEstate https://twitter.com/EINRealEstate/status/1526714359157751810Read More

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New PE venture led by commercial real estate vets buys Boulder portfolio

New PE venture led by commercial real estate vets buys Boulder portfolio dailycamera.com – Good Investment Partners LLC, a new Denver-based private equity firm led by local commercial real estate veterans, has made a splash with the acquisition of a six-building portfolio in Boulder.Tweeted by @PowerBrokerCRM https://twitter.com/PowerBrokerCRM/status/1527455450521665536

dailycamera.com – Good Investment Partners LLC, a new Denver-based private equity firm led by local commercial real estate veterans, has made a splash with the acquisition of a six-building portfolio in Boulder.

Tweeted by @PowerBrokerCRM https://twitter.com/PowerBrokerCRM/status/1527455450521665536Read More

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Built In Honors VTS Among the 2022 Best Places To Work Awards

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benzinga.com – VTS Ranks On Built In’s Best Places To Work Lists In NYC, Chicago, and Austin New York, NY –News Direct– Built In today announced that VTS was honored in …

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Business Bridge Loans: How to Get Bridge Financing For Working Capital?

Business Bridge Loans: How to Get Bridge Financing For Working Capital? gudcapital.com – SBA Bridge Loans: When a business owner is awaiting permanent SBA financing to be put into place, they may seek a short-term financing options to help take care of some working capital needs. SBA bri…Tweeted by @GUDCapital https://twitter.com/GUDCapital/status/1528496691636215810

gudcapital.com – SBA Bridge Loans: When a business owner is awaiting permanent SBA financing to be put into place, they may seek a short-term financing options to help take care of some working capital needs. SBA bri…

Tweeted by @GUDCapital https://twitter.com/GUDCapital/status/1528496691636215810Read More

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Fundrise Review 2022 | Invest In Real Estate With Just $10

Fundrise Review 2022 | Invest In Real Estate With Just $10 thesavvycouple.com – Real estate investing isn’t JUST for the rich people. Anyone can start investing in real estate and we’ll cover how it’s done in this Fundrise review!

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Commercial Foreclosures | Find Commercial Properties for Sale

Commercial Foreclosures | Find Commercial Properties for Sale bankforeclosuressale.com – Find commercial foreclosures for sale through our updated listings. Buy commercial properties from 30% to 60% below market value! SAVE NOW!Tweeted by @TQuestMind https://twitter.com/TQuestMind/status/1528333332362190848

bankforeclosuressale.com – Find commercial foreclosures for sale through our updated listings. Buy commercial properties from 30% to 60% below market value! SAVE NOW!

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Sunday Summary: The Power 100 for 2022!

Sunday Summary: The Power 100 for 2022! commercialobserver.com – Also, COVID-19 cases are on the rise again. What now for office and retail?Tweeted by @RKhodadadian https://twitter.com/RKhodadadian/status/1528374215975510017

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Is Airbnb playing a role in NYC’s skyrocketing rents? – Robert Khodadadian

Looking to rent an apartment in New York City? Maybe you should instead consider taking a vacation here. Curbed is reporting the number of short-term rentals of apartments through online services such as Airbnb in the Big Apple has exceeded the number of standard rental units — just as bidding wars have sent the cost …

China bans government elites from holding overseas real estate assets – Robert Khodadadian

That’s what Xi said. The Communist Party in China is banning its key members and their families from holding real estate assets abroad in a move it hopes will help insulate the government from potential sanctions by other countries. The Wall Street Journal is reporting a notice sent out by the party’s Central Organization Authority …

Surge in remote working a big deal for college towns like Knoxville and Athens – Robert Khodadadian

Remote work, which has surged for the past two pandemic years, is remapping the U.S., as fewer workers need to live in or near big cities. Initially, the only beneficiaries of this shift were vacation destinations in the mountains and by the water, but that growth model likely won’t last as housing costs and labor …

How CRE in Russia and Ukraine is Affecting U.S. Investors

How CRE in Russia and Ukraine is Affecting U.S. Investors leverage.com – As the war in Ukraine wears on, Russia’s economy, and the global commercial real estate economy, reel from its effects. What do we do now?

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15 Reasons Why eXp Commercial Is Turning Heads | eXp Life

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life.exprealty.com – Read 15 reasons why eXp Commercial is turning heads in the commercial real estate space. Read more on eXp Life.

Tweeted by @marianhuish https://twitter.com/marianhuish/status/1527050909473046528Read More

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Can Real Estate Help You Hedge Against Inflation?

Can Real Estate Help You Hedge Against Inflation? blog.rismedia.com – By Brian Wallace 2022 has been seeing the cost of goods and services skyrocketing left and right. In fact, inflation is currently at its highest since 1982. Inflation is typically measured by compa…Tweeted by @HousecallBlog https://twitter.com/HousecallBlog/status/1527340809238024192

blog.rismedia.com – By Brian Wallace 2022 has been seeing the cost of goods and services skyrocketing left and right. In fact, inflation is currently at its highest since 1982. Inflation is typically measured by compa…

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How to Find Commercial Real Estate in Los Angeles

How to Find Commercial Real Estate in Los Angeles squarefoot.com – As the home to growing industries such as biopharmaceuticals, aerospace, entertainment, and technology, Los Angeles is one of the hottest real estate marketsTweeted by @TheSqFt https://twitter.com/TheSqFt/status/1527676791816601602

squarefoot.com – As the home to growing industries such as biopharmaceuticals, aerospace, entertainment, and technology, Los Angeles is one of the hottest real estate markets

Tweeted by @TheSqFt https://twitter.com/TheSqFt/status/1527676791816601602Read More

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Nancy Pelosi Net Worth: Massive At Over $100 Million

Nancy Pelosi Net Worth: Massive At Over $100 Million financialsamurai.com – Nancy Pelosi’ net worth is massive. She in the top 1% of all Americans. Nancy Pelosi’s net worth for 2020 is estimated to be roughly $150 million.Tweeted by @andreituru https://twitter.com/andreituru/status/1527278343984320513

financialsamurai.com – Nancy Pelosi’ net worth is massive. She in the top 1% of all Americans. Nancy Pelosi’s net worth for 2020 is estimated to be roughly $150 million.

Tweeted by @andreituru https://twitter.com/andreituru/status/1527278343984320513Read More

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Dividend Hedge Info. Com

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getrevue.co – Weekly newsletter of Dividend Hedge Info.Com – Markets have been brutal.

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Stonehill Expands Commercial Lending Business, Announces Strategic Leadership Additions – News

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abladvisor.com – Stonehill, a direct lender on commercial real estate, announced the expansion of its leadership team with four senior executive hires. Joining the organization are Daniel Siegel, Greg Koenig, Nisu Me…

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Ladder Capital (NYSE:LADR) Upgraded to Hold by Zacks Investment Research

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Analyzing ACRES Commercial Realty (NYSE:ACR) and Chicago Atlantic Real Estate Finance (NASDAQ:REFI)

Analyzing ACRES Commercial Realty (NYSE:ACR) and Chicago Atlantic Real Estate Finance (NASDAQ:REFI) defenseworld.net – Read Analyzing ACRES Commercial Realty (NYSE:ACR) and Chicago Atlantic Real Estate Finance (NASDAQ:REFI) at Defense World

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Apollo Commercial: Double-Digit Dividend Yield, But Poor Price

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seekingalpha.com – Apollo Commercial (ARI) has one of the lowest D/E ratios among mortgage-based diversified REITs. See why I think ARI stock is not for risk-averse investors.

Tweeted by @SeekingAlpha https://twitter.com/SeekingAlpha/status/1528303344854265856Read More

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Ladder Capital (NYSE:LADR) Upgraded by Zacks Investment Research to Hold

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Stonehill Announces Strategic Leadership Additions to Expand Its Commercial Lending Business

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finance.yahoo.com – ATLANTA, May 18, 2022–Stonehill, a direct lender on commercial real estate, announced the expansion of its leadership team with four senior executive hires.

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Chicago Atlantic Real Estate Finance (NASDAQ:REFI) vs. ACRES Commercial Realty (NYSE:ACR) Critical Review

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) vs. ACRES Commercial Realty (NYSE:ACR) Critical Review etfdailynews.com – Read Chicago Atlantic Real Estate Finance (NASDAQ:REFI) vs. ACRES Commercial Realty (NYSE:ACR) Critical Review at ETF Daily News

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lifebridgecapital.com – Many have proven that investing in commercial real estate is always a good idea. In today’s #Highlights episode, we look back at our conversations with successful real estate entrepreneurs Dr. Masaki…

Tweeted by @whitney_sewell https://twitter.com/whitney_sewell/status/1527988322668363778Read More

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Polsinelli Continues Expansion of National Real Estate Practice with Hiring of Jed W. Bonner, Emina Kwok, Patrick Maloney, and Scott Smithson | News …

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Bloomfield Hills’ Oak Real Estate Launches $500M Commercial Real Estate Financing Fund

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dbusiness.com – Oak Real Estate in Bloomfield Hills has launched Oak Institutional Credit Solutions, a private real estate financing investment fund.

Tweeted by @dbusiness https://twitter.com/dbusiness/status/1527741154304921602Read More

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Commercial Real Estate Industry, Meet the Metaverse

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loopnet.com – While it’s easy to dismiss the concept of

Tweeted by @CoStarGroup https://twitter.com/CoStarGroup/status/1527659519152619520Read More

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National Bank (NYSE:NBHC) vs. Chino Commercial Bancorp (OTCMKTS:CCBC) Financial Comparison

National Bank (NYSE:NBHC) vs. Chino Commercial Bancorp (OTCMKTS:CCBC) Financial Comparison etfdailynews.com – Read National Bank (NYSE:NBHC) vs. Chino Commercial Bancorp (OTCMKTS:CCBC) Financial Comparison at ETF Daily News

etfdailynews.com – Read National Bank (NYSE:NBHC) vs. Chino Commercial Bancorp (OTCMKTS:CCBC) Financial Comparison at ETF Daily News

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These 3 Real Estate Stocks Focus on Growth, Not Dividends

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fool.com – You don’t have to give up on high returns to invest in real estate.

Tweeted by @stockexamen https://twitter.com/stockexamen/status/1528061697264480263Read More

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Commercial real estate and your practice, part two with Colin Carr

Commercial real estate and your practice, part two with Colin Carr ophthalmologytimes.com – On this part two episode with Colin Carr, founder and CEO of CARR, we hear more about commercial real estate dos and don’ts when managing the space of your practice. Tune in now for the Q&A with Opht…Tweeted by @MedPubOphtha https://twitter.com/MedPubOphtha/status/1527984170563141634

ophthalmologytimes.com – On this part two episode with Colin Carr, founder and CEO of CARR, we hear more about commercial real estate dos and don’ts when managing the space of your practice. Tune in now for the Q&A with Opht…

Tweeted by @MedPubOphtha https://twitter.com/MedPubOphtha/status/1527984170563141634Read More

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Smurf-erriffic! Michigan home seems to be inspired by cartoon – Robert Khodadadian

Is this roof awesome? Abso-Smurfly. A bright white Michigan mansion with a Smurf-esque blue roof is having its five minutes of internet fame as real estate window shoppers go gaga over its cartoon-esque looks. The New York Post is reporting the listing for the home in West Bloomfield, on the market for $4.19 million, makes …

Colorado home where infamous murder took place quietly listed – Robert Khodadadian

It’s a crime-scene listing. The home where a Colorado man killed his pregnant wife before burying her in a shallow grave and then smothering his two toddler daughters to death has quietly gone on the market — under the wrong address. The New York Post is reporting the 4,177-square-foot on Saratoga Trail in Frederick where …

130: When Are You Ready to Go Full-Time In Real Estate? Interview w/ John Casmon

130: When Are You Ready to Go Full-Time In Real Estate? Interview w/ John Casmon retipster.com – If you’ve ever wondered when you’re ready to go full-time as a real estate investor, John has an interesting story to tell about how he took the leap.Tweeted by @retipsterseth https://twitter.com/retipsterseth/status/1526568812581371905

retipster.com – If you’ve ever wondered when you’re ready to go full-time as a real estate investor, John has an interesting story to tell about how he took the leap.

Tweeted by @retipsterseth https://twitter.com/retipsterseth/status/1526568812581371905Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

98% of Investors Putting Money in Commercial RE

98% of Investors Putting Money in Commercial RE floridarealtors.org – Survey: Thanks to recent stock market gyrations, investors are moving to real estate. They consider it stable and less likely to lose value until things cool down.Tweeted by @IncNizz https://twitter.com/IncNizz/status/1527308276698075137

floridarealtors.org – Survey: Thanks to recent stock market gyrations, investors are moving to real estate. They consider it stable and less likely to lose value until things cool down.

Tweeted by @IncNizz https://twitter.com/IncNizz/status/1527308276698075137Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

The Difference Between Investing and Speculating with Paul Moore

The Difference Between Investing and Speculating with Paul Moore player.captivate.fm – Quickly and easily listen to Road to Family Freedom for free!Tweeted by @r2familyfreedom https://twitter.com/r2familyfreedom/status/1527650895558856706

player.captivate.fm – Quickly and easily listen to Road to Family Freedom for free!

Tweeted by @r2familyfreedom https://twitter.com/r2familyfreedom/status/1527650895558856706Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

3 Reasons to Invest in Real Estate During a Recession

3 Reasons to Invest in Real Estate During a Recession biggerpockets.com – There’s the possibility of a recession in the near future. Are you prepared? In this article, we go over the reasons for why you should invest in real estate.Tweeted by @RealEstatePaper https://twitter.com/RealEstatePaper/status/1526942875438796801

biggerpockets.com – There’s the possibility of a recession in the near future. Are you prepared? In this article, we go over the reasons for why you should invest in real estate.

Tweeted by @RealEstatePaper https://twitter.com/RealEstatePaper/status/1526942875438796801Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

10 Passive Income Ideas For Accountants

10 Passive Income Ideas For Accountants fnrpusa.com – FNRP outlines 10 passive income ideas for accountants including blogging, e-books, & investing in real estate.Tweeted by @fnrpusa https://twitter.com/fnrpusa/status/1527650701005971459

fnrpusa.com – FNRP outlines 10 passive income ideas for accountants including blogging, e-books, & investing in real estate.

Tweeted by @fnrpusa https://twitter.com/fnrpusa/status/1527650701005971459Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Presidio Bay Ventures Launches Real Estate Development Scholarship For Bay Area Youth, Introduces Underrepresented Backgrounds To Career Possibilitie…

Presidio Bay Ventures Launches Real Estate Development Scholarship For Bay Area Youth, Introduces Underrepresented Backgrounds To Career Possibilitie… benzinga.com – Bay Area Company Invites a New Generation to Diversify and Impact the Future of Real Estate SAN FRANCISCO, May 17, 2022 /PRNewswire-PRWeb/ — Presidio Bay Ventures, a leading Bay Area commercial real…

benzinga.com – Bay Area Company Invites a New Generation to Diversify and Impact the Future of Real Estate SAN FRANCISCO, May 17, 2022 /PRNewswire-PRWeb/ — Presidio Bay Ventures, a leading Bay Area commercial real…

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

The Best Real Estate Development Loans

The Best Real Estate Development Loans nav.com – Real estate development is lucrative, and although getting funding can be challenging, this article helps you understand your best loan options.

nav.com – Real estate development is lucrative, and although getting funding can be challenging, this article helps you understand your best loan options.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Commercial Real Estate’s Future a Battle Against Uncertainty: Forum

Commercial Real Estate’s Future a Battle Against Uncertainty: Forum commercialobserver.com – Commercial Observer assembled experts in person in May to expound on what’s next, particularly for New York office.Tweeted by @HqOapp https://twitter.com/HqOapp/status/1526676941545299969

commercialobserver.com – Commercial Observer assembled experts in person in May to expound on what’s next, particularly for New York office.

Tweeted by @HqOapp https://twitter.com/HqOapp/status/1526676941545299969Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Is 2022 the Right Time to Expand Your CRE Portfolio?

Is 2022 the Right Time to Expand Your CRE Portfolio? northspyre.com – Does this mean 2022 is a good time to expand your commercial real estate portfolio? To help you answer this question, let’s see what industry experts say.Tweeted by @kim_r0211 https://twitter.com/kim_r0211/status/1526699867652820992

northspyre.com – Does this mean 2022 is a good time to expand your commercial real estate portfolio? To help you answer this question, let’s see what industry experts say.

Tweeted by @kim_r0211 https://twitter.com/kim_r0211/status/1526699867652820992Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Real estate expert details what’s driving the commercial market resurgence

Real estate expert details what’s driving the commercial market resurgence finance.yahoo.com – DLA Piper Partner and U.S. Real Estate chair John Sullivan weighs in on the state of the commercial real estate market and what’s behind its comeback, especially in big cities like New York.Tweeted by @RealEstateMorg https://twitter.com/RealEstateMorg/status/1527949833612406784

finance.yahoo.com – DLA Piper Partner and U.S. Real Estate chair John Sullivan weighs in on the state of the commercial real estate market and what’s behind its comeback, especially in big cities like New York.

Tweeted by @RealEstateMorg https://twitter.com/RealEstateMorg/status/1527949833612406784Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

IWG’s Spaces Replaces Another WeWork in LA – Robert Khodadadian

IWG’s Spaces Replaces Another WeWork in LA – Robert Khodadadian IWG, among the world’s largest providers of flexible workspaces, opened another Spaces location this week in Downtown Los Angeles. It’s the second former WeWork location in L.A. to be rebranded as a coworking Spaces. The flex space includes more than 38,000 square feet on the ninth through 12th floors as well as the penthouse floor

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IWG, among the world’s largest providers of flexible workspaces, opened another Spaces location this week in Downtown Los Angeles. It’s the second former WeWork location in L.A. to be rebranded as a coworking Spaces.

The flex space includes more than 38,000 square feet on the ninth through 12th floors as well as the penthouse floor at the historic Fine Arts Building at 811 West 11th Street. The landmark building originally opened in 1926 to house galleries and workspaces for artists, and now is coworking space and offices.

The Fine Arts Building is near the Los Angeles Central Library as well as a Metro station. IWG’s partner representative for the space is Manchester Capital Management.

The downtown location comes online less than a month after IWG opened a Spaces in West Hollywood, which also replaced a former WeWork space. 

Tenants continue to update their return-to-office plans, with many allowing employees to split their time between company headquarters, a local office or co-working space, and home. Research commissioned by IWG shows 70 percent of job candidates are insisting that companies have a hybrid work policy, and half of existing employees say they would quit their job if forced back to the office five days a week.

“People increasingly want to live, work and socialize without having to spend hours commuting,” IWG’s CEO Mark Dixon said.

With Regus and Spaces, IWG added more than 2 million new customers to its global network of flexible workspaces in 2021, and the business is set to add 1,000 locations globally in 2022.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

CoStar Group Publishes New Retail Sector Findings

CoStar Group Publishes New Retail Sector Findings businesswire.com – WASHINGTON–(BUSINESS WIRE)–May 19, 2022–

businesswire.com – WASHINGTON–(BUSINESS WIRE)–May 19, 2022–

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Commercial Real Estate’s Role as Inflation Hedge Challenged

Commercial Real Estate’s Role as Inflation Hedge Challenged therealdeal.com – Commercial real estate has long been thought of as a hedge against inflation, but recent trends in the market are testing that theory.Tweeted by @RicSFLOffice https://twitter.com/RicSFLOffice/status/1527085656496672770

therealdeal.com – Commercial real estate has long been thought of as a hedge against inflation, but recent trends in the market are testing that theory.

Tweeted by @RicSFLOffice https://twitter.com/RicSFLOffice/status/1527085656496672770Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Commercial Real Estate Investment May Be Seen As Sound Hedge Against Inflation Worries

Commercial Real Estate Investment May Be Seen As Sound Hedge Against Inflation Worries benzinga.com – Photo by Brandon Griggs onTweeted by @trisourcecap https://twitter.com/trisourcecap/status/1527591082380468224

benzinga.com – Photo by Brandon Griggs on

Tweeted by @trisourcecap https://twitter.com/trisourcecap/status/1527591082380468224Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Co-ownership platform Pairadime is open for business

Co-ownership platform Pairadime is open for business inman.com – Pairadime is an online resource to educate and assist homebuyers and real estate agents on the concept of co-owning a home.Tweeted by @scofini https://twitter.com/scofini/status/1527633537641246722

inman.com – Pairadime is an online resource to educate and assist homebuyers and real estate agents on the concept of co-owning a home.

Tweeted by @scofini https://twitter.com/scofini/status/1527633537641246722Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Office Sales Decreased Across the Bay in Q1

Office Sales Decreased Across the Bay in Q1 commercialsearch.com – Despite a decline from previous quarters, office sales in the Bay Area generated more revenue than most gateway markets.

commercialsearch.com – Despite a decline from previous quarters, office sales in the Bay Area generated more revenue than most gateway markets.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Clipper Plans 650-Unit Development at Flatbush Sears Site

Clipper Plans 650-Unit Development at Flatbush Sears Site therealdeal.com – The developer has filed plans to build two residential buildings — a combined 456,000 square feet — in BrooklynTweeted by @Mr_Neutral_Man https://twitter.com/Mr_Neutral_Man/status/1527685615587889154

therealdeal.com – The developer has filed plans to build two residential buildings — a combined 456,000 square feet — in Brooklyn

Tweeted by @Mr_Neutral_Man https://twitter.com/Mr_Neutral_Man/status/1527685615587889154Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Critical Survey: DiamondRock Hospitality (NYSE:DRH) & Apollo Commercial Real Estate Finance (NYSE:ARI)

Critical Survey: DiamondRock Hospitality (NYSE:DRH) & Apollo Commercial Real Estate Finance (NYSE:ARI) etfdailynews.com – Read Critical Survey: DiamondRock Hospitality (NYSE:DRH) & Apollo Commercial Real Estate Finance (NYSE:ARI) at ETF Daily News

etfdailynews.com – Read Critical Survey: DiamondRock Hospitality (NYSE:DRH) & Apollo Commercial Real Estate Finance (NYSE:ARI) at ETF Daily News

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Adding Commercial Real Estate To Your Portfolio Requires Investor Due Diligence. Here’s What You Need To Know.

Adding Commercial Real Estate To Your Portfolio Requires Investor Due Diligence. Here’s What You Need To Know. money.usnews.com – One key factor for successful commercial real estate investing is identifying market trends.Tweeted by @BhiReal https://twitter.com/BhiReal/status/1527682185435746305

money.usnews.com – One key factor for successful commercial real estate investing is identifying market trends.

Tweeted by @BhiReal https://twitter.com/BhiReal/status/1527682185435746305Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Council Post: Blockchain Technology And Commercial Real Estate In 2022 And Beyond

Council Post: Blockchain Technology And Commercial Real Estate In 2022 And Beyond forbes.com – Instead of having to be hunkered down by escrow companies and extensive paperwork, the blockchain allows transactions to be conducted swiftly and securely.Tweeted by @blooma_ai https://twitter.com/blooma_ai/status/1527702641408548865

forbes.com – Instead of having to be hunkered down by escrow companies and extensive paperwork, the blockchain allows transactions to be conducted swiftly and securely.

Tweeted by @blooma_ai https://twitter.com/blooma_ai/status/1527702641408548865Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Stonelake Kicks Off Suburban Austin Spec Project

Stonelake Kicks Off Suburban Austin Spec Project commercialsearch.com – Stonelake Capital Partners broke ground on Georgetown Logistics Park, a speculative industrial complex in an Austin suburb.

commercialsearch.com – Stonelake Capital Partners broke ground on Georgetown Logistics Park, a speculative industrial complex in an Austin suburb.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

RAL and Tricap to Build Creative Offices in Wynwood – Robert Khodadadian

RAL and Tricap to Build Creative Offices in Wynwood – Robert Khodadadian New York firms RAL Development and Tricap have unveiled plans for a two-building office complex in Miami’s Wynwood.  The Arquitectonica-designed project, called LYNQ Wynwood, will offer 246,000 square feet of office space and 23,000 square feet for retail on the ground floor.  The two eight-story buildings will be located across the street from one another

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New York firms RAL Development and Tricap have unveiled plans for a two-building office complex in Miami’s Wynwood. 

The Arquitectonica-designed project, called LYNQ Wynwood, will offer 246,000 square feet of office space and 23,000 square feet for retail on the ground floor. 

The two eight-story buildings will be located across the street from one another at the intersection of NW 5th avenue and NW 27th Street. Tricap bought the parcels, which together span 1.6 acres, for a combined $31 million in 2018 and 2021, according to property records. 

With approvals secured, construction is slated to commence this fall, said a spokesperson for the joint venture. The spokesperson declined to comment on whether the firms had locked down construction financing. 

RAL and Tricap envision the development for Wynwood’s growing finance and tech scene, such as hedge fund Schonfeld as well as venture capital firms Atomic and Founders Fund

“LYNQ Wynwood is focused squarely on the needs of established tech and finance companies moving or expanding into the Wynwood neighborhood, in addition to startups and earlier stage firms,” Josh Wein, managing director at RAL, said in a statement.

The project follows a slew of development announcements as the neighborhood’s profile grows. 

Just one block over, Tricap is developing the first NoMad Hotel-branded condominium. Goldman Properties, which helped revitalize Wynwood in the early aughts, plans to build a nine-story office, also geared to creatives. 

Julia Echikson can be reached at jechikson@commercialobserver.com

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Office royalty talk conversions, distress and the “downsize upgrade” trend – Robert Khodadadian

Between inflation, rising interest rates, and employees working from home, there have been better times to be an office landlord or broker. Even some of the city’s largest commercial real estate landlords and brokers — folks not known for broadcasting pessimism — agree that certain properties are going to suffer and need to be converted …

Aby Rosen teams up with Rolling Stone publisher on $290M office deal – Robert Khodadadian

Aby Rosen closed the book on his latest office deal with help from an unlikely source. Rosen’s RFR Holding teamed up with Variety and Rolling Stone publisher Penske Media Corporation to finalize his $290 million purchase of 475 Fifth Avenue, where the glossy magazine company has its headquarters. Penske Media contributed 50 percent of the …

The Shopping Center Group Expands In Florida, Acquires Local Retail Brokerage – Robert Khodadadian

The Shopping Center Group Expands In Florida, Acquires Local Retail Brokerage – Robert Khodadadian The Shopping Center Group (TSCG) isn’t sleeping on the growth in the South Florida retail market. The retail brokerage is expanding its already substantial operations in Florida with the acquisition of the Southeast Retail Group (SRG), which TSCG says will help it harness the possibilities for profit in Florida, where up to 1,000 people are

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The Shopping Center Group (TSCG) isn’t sleeping on the growth in the South Florida retail market.

The retail brokerage is expanding its already substantial operations in Florida with the acquisition of the Southeast Retail Group (SRG), which TSCG says will help it harness the possibilities for profit in Florida, where up to 1,000 people are relocating daily.

SRG’s 12-member team will be onboarded to TCSG and bring with them over 50 new retail and restaurant clients. The move will expand TCSG’s leased space by approximately 7.5 million square feet, and its property under management by an additional 400,000 square feet.

“This will result in an even more formidable, full-service real estate enterprise that stretches from Florida’s southernmost beach to the financial and cultural epicenter of the United States – New York City,” David Birnbrey, co-CEO of TSCG, said in a statement.

SRG was founded in 2016. Its founders and managing partners will hold top positions in the merged firm, and will bring with them clients such as Chipotle, Kimco, CAVA and Habit Burger. Jeremy Kral will now serve as executive vice president while Dana Dowsett and Eric Battistone are vice presidents of TSCG.

“Our success comes from a focus on client business objectives and strategy – not on specific deals. Joining TSCG puts us at the highest level of our industry,” Kral said in a statement.

Brick-and-mortar retailers hit hard times when COVID-19 visited its wrath upon the United States in March 2020, leading to a surge in e-commerce that led to low vacancy rates in the industrial real estate market, but higher vacancy rates for traditional retail. 

Now, inflation has entered the chat.

In April, the U.S. Census Bureau posted March sales figures illustrating that retail transactions failed to gain momentum. There was a minimal month-over-month increase of 0.5 percent in sales compared to February gains of 0.8 percent and January gains of 5.1 percent, according to Forbes. Meanwhile, the U.S. Bureau of Labor Statistics reported in April that the consumer price index (CPI) rose 8.5 percent for the 12 months ending in March 2022, marking the largest 12-month increase since the period ending December 1981.

Inflation also hurt e-commerce companies, which were 15.2 percent of total retail sales in January. In February, that number dropped to 14.6 percent, showing the steady decline in online sales since the start of 2022, Forbes reported. It appears that the difference is being made up in discount stores, where sales rose 6.6 percent in April.

While Florida retail has certainly been affected by inflation, it is in a better position than many other markets because of its above-average performance during COVID. 

There were fewer stores sitting empty in Florida as vacancy rates stayed at a steady 3.7 percent in Miami-Dade County, according to a report by Colliers on the first quarter of 2022. Broward County in the same period showed a 4.7 percent vacancy, which was a decrease from the 5.6 percent recorded during the first quarter of 2021.

Mark Hallum can be reached at mhallum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Jimmy Fallon, Amy Schumer selling Manhattan pads – Robert Khodadadian

Two famous comedians are moving from their respective Manhattan digs. Jimmy Fallon, host of “The Tonight Show,” and his film producer wife Nancy Juvonen are in contract to sell their penthouse at 34 Gramercy Park East, the New York Post reported. The couple listed the home for $15 million, but the buyer — fellow celeb …

DC Green Bank Commits $7.5M to Residential Solar Projects – Robert Khodadadian

DC Green Bank Commits $7.5M to Residential Solar Projects – Robert Khodadadian During Infrastructure Week in Washington, D.C., this week, Mayor Muriel Bowser announced that DC Green Bank, a publicly funded bank, has committed $7.5 million to community and residential solar projects across the city.   As part of its new commitments, a $7 million loan was provided to PosiGen, which will provide solar energy at no cost

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During Infrastructure Week in Washington, D.C., this week, Mayor Muriel Bowser announced that DC Green Bank, a publicly funded bank, has committed $7.5 million to community and residential solar projects across the city.  

As part of its new commitments, a $7 million loan was provided to PosiGen, which will provide solar energy at no cost to low- and moderate-income (LMI) residents. The loan will unlock funding for the construction of up to 3,000 kilowatts of solar capacity on approximately 320 homes across the District in Wards 1, 4, 5, 7, and 8.

A second $530,000 loan was provided to Uprise Electric to deliver community solar serving 15 residential projects under Solar for All, a program of D.C.’s Department of Energy & Environment (DOEE).

“Partnering with PosiGen, a nationally recognized expert in solar and efficiency finance for low- and moderate-income homeowners, allows us to leverage their experience and scale to support our local solar developers,” Eli Hopson, CEO of DC Green Bank, told Commercial Observer. “By providing financing to Uprise Electric, we are able to invest directly into a local solar developer that is seeking to expand their solar footprint in the district and bring clean and renewable energy to LMI residents and communities.”

Under the deal, more than a dozen LMI families are expected to see their electricity bills cut by half. It will create up to 13 clean economy jobs, generate more than 90 megawatts of renewable energy, and avoid approximately 64 tons of CO2 equivalent annually.

Since its launch in 2018, DC Green Bank has committed more than $12 million to community and residential solar projects serving low- and moderate-income residents in the District. 

Mayor Bowser introduced legislation establishing the DC Green Bank in 2018, a policy tool that utilized public-purpose funding to attract private investment to expand renewable energy, lower energy costs, reduce greenhouse gas emissions, create green jobs and enhance resilience.

“We were proud to make D.C. one of the first cities in the nation to launch a Green Bank, and these projects which are helping us build a more sustainable and equitable D.C.,” Bowser said in a prepared statement. “By bringing together DC Green Bank and DOEE’s Solar for All program, we’re lowering electric bills, reducing pollution, and creating jobs for D.C. residents.”

Additionally, the installations are expected to create hundreds of clean economy jobs in the construction phase and generate more than 3,600 MWh of renewable energy annually, while also eliminating more than 2,500 tons of CO2 emissions.

Keith Loria can be reached at Kloria@commercialobserver.com.

,

In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Shafer Clinic Expands by 2 Floors at 535 Fifth Avenue – Robert Khodadadian

Shafer Clinic Expands by 2 Floors at 535 Fifth Avenue – Robert Khodadadian Cosmetic surgeon David Shafer has expanded his practice, the Shafer Clinic, at 535 Fifth Avenue by 9,700 square feet, Commercial Observer has learned. The double board-certified clinician will take over the 29th and 30th floors, adding to the space currently leased on the 32nd through 36th floors, according to the landlord, The Moinian Group. The

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Cosmetic surgeon David Shafer has expanded his practice, the Shafer Clinic, at 535 Fifth Avenue by 9,700 square feet, Commercial Observer has learned.

The double board-certified clinician will take over the 29th and 30th floors, adding to the space currently leased on the 32nd through 36th floors, according to the landlord, The Moinian Group. The deal brings Shafer’s presence to 25,000 square feet.

“The velocity of leasing activity is accelerating throughout our office portfolio,” Ted Koltis, executive vice president of commercial leasing for The Moinian Group, said in a statement. “Dr. Shafer is a long-time tenant with a thriving practice who needed additional space to accommodate the growth of his practice.” 

Koltis represented the landlord in-house, The Moinian Group said there was no broker on behalf of the tenant and did not disclose the length of the lease. Asking rents $62 per square foot, according to the firm. 

“We are considering further expansion as space becomes available. The demand for high-end medical space is amazing,” Shafer said in a statement. “We have transformed the penthouse terrace for mixed-use space for patient enjoyment and have partnered with the medical industry for product launches and VIP events.”

Built in 1927, the Fifth Avenue building spans 36 stories and 329,733 square feet. It underwent a recent renovation by architectural firm Gensler and now offers full-floor spaces and large windows for natural light, according to The Moinian Group.

Mark Hallum can be reached at mhallum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Columbia Property Trust signs investment firm to 71K sf at 799 Broadway – Robert Khodadadian

A Boston-based investment management firm has selected Columbia Property Trust’s 799 Broadway for its first New York City office. Wellington Management beefed up its real estate footprint by leasing 71,000 square feet across four floors at Columbia Property Trust’s new boutique office building three blocks south of Union Square. Wellington’s 16.5-year agreement makes it the …

Crown Building notches another peak sale with $55M condo – Robert Khodadadian

Vladislav Doronin’s OKO Group has nailed down one of the biggest condo sales of the year at the luxury Crown Building. A buyer closed on a full-floor unit at the Aman New York condominiums for $55 million, the Wall Street Journal reported, roughly $8,730 per square foot. The asking price for the apartment was roughly …

Stream Names Dorothy Hamilton as New Regional Managing Director – Robert Khodadadian

Stream Names Dorothy Hamilton as New Regional Managing Director – Robert Khodadadian Stream Realty Partners has promoted Dorothy Hamilton as its new regional managing director for property management. In her role, Hamilton will work alongside Dennis Skelly, the newly promoted national managing director. Hamilton was previously a Washington, D.C.-based director of property management and will remain in the D.C. office, overseeing employees in Northern Virginia, Maryland, Philadelphia

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Stream Realty Partners has promoted Dorothy Hamilton as its new regional managing director for property management.

In her role, Hamilton will work alongside Dennis Skelly, the newly promoted national managing director. Hamilton was previously a Washington, D.C.-based director of property management and will remain in the D.C. office, overseeing employees in Northern Virginia, Maryland, Philadelphia and New York.

Among her new responsibilities will be managing and growing the geographic reach of Stream Realty as it continues to expand across the United States.

“I am excited at the growth in the mid-Atlantic Stream market. With that comes building relationships with new Stream teammates and watching those folks grow in their careers,” Hamilton told Commercial Observer. “Additionally, building relationships with clients and tenants — sharing with them the Stream legendary customer service — is so important to me.” 

Hamilton has been with Stream since 2014 and has more than 25 years of commercial real estate and asset management experience. Over her career, which includes stints at Cassidy Turley, Standard Life, and Trammell Crow, she has managed more than 2 million square feet of Class A office space in D.C.

She looks forward to continuing to work with D.C. clients.

“We are seeing that D.C. tenants are reevaluating what they expect from their office environment, and we are working with our landlord clients to evolve with our tenants,” Hamilton said. “Our focus is on hospitality, health and wellness, outdoor spaces, engaging amenities, and the integration of technology.” 

Stream also promoted Amanda Coupe to regional managing director of property management in the Sun Belt, managing personnel in Austin, El Paso, Denver, Nashville, Phoenix, Atlanta and Charlotte.

“We are thrilled to have Dorothy and Amanda expand their roles and support our property management teams on a regional level,” Skelly said.  “As we continue to grow, having Dorothy and Amanda share their leadership, knowledge and experience with a broader group will undoubtedly benefit our entire platform.”   

Keith Loria can be reached at Kloria@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Boutique LES office project scores blockchain firm as anchor tenant – Robert Khodadadian

A new, glass-encased boutique office and retail project in the Bowery has landed an anchor tenant. San Francisco-based Solana Labs, has agreed to lease the top four floors of 141 East Houston Street, a ground-up project by East End Capital, Grandview Partners and KPG Funds. The firms acquired the site by buying the Sunshine Theater …

RFR Seals 475 Fifth Avenue Acquisition With $260M Loan  – Robert Khodadadian

RFR Seals 475 Fifth Avenue Acquisition With $260M Loan  – Robert Khodadadian Aby Rosen’s RFR Holding is officially the proud new owner of 475 Fifth Avenue, Commercial Observer has learned.  The $290 million sale of the Midtown office building closed Thursday, with RFR locking down $260 million in balance sheet financing for the acquisition.  Citigroup and JPMorgan were the senior lenders in the deal, with PCCP in

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Aby Rosen’s RFR Holding is officially the proud new owner of 475 Fifth Avenue, Commercial Observer has learned. 

The $290 million sale of the Midtown office building closed Thursday, with RFR locking down $260 million in balance sheet financing for the acquisition.  Citigroup and JPMorgan were the senior lenders in the deal, with PCCP in the mezzanine spot. 

CBRE’s Darcy Stacom, Doug Middleton and Alana Bassen arranged the sale of the property from Nuveen Real Estate and Norges Bank Investment Management, while CBRE’s James Millon, Tom Traynor and Mark Finan negotiated the debt. 

Bloomberg first reported that a sale of the 1920s-era property was in motion in October. The transaction was heralded as a test for New York City’s office market, which has favored newly constructed Class A product post-pandemic. As one source familiar with the trade put it, “The deal terms held up, which is a very positive sign.” 

Designed by Starrett & Van Vleck, 475 Fifth Avenue opened its doors as the Farmers Loan & Trust Company Building in 1926. The building sits in a prime position, across the street from the New York Public Library at Bryant Park —the library’s two lion statues, Patience and Fortitude, facing it— and close to Grand Central Terminal. Nuveen acquired the asset in 2011 from Barclays, completing $60 million in property upgrades by 2014. 

Today, the building is almost fully leased to a diverse roster of tenants including Penske Business Media, Torchlight Investors and LBB Industries, which ​​signed a five-year lease for the entire 4,126-square-foot penthouse floor of the building in June 2021.

RFR has been bringing the Miami heat, too. Only last month, the firm dropped $25 million on a Biscayne Boulevard parcel adjacent to a 17-story hotel it bought only a week earlier.

JPMorgan and CBRE officials declined to comment. Officials at Citi and PCCP couldn’t immediately be reached for comment. RFR officials weren’t immediately available to comment. 

Cathy Cunningham can be reached at ccunningham@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Related’s Argyle House in Hollywood for Sale – Robert Khodadadian

Related’s Argyle House in Hollywood for Sale – Robert Khodadadian The prominent developer and owner of the luxury apartment building in Los Angeles known as Argyle House is looking to let go of the 18-story property, Commercial Observer has learned.  Developed by Related California, a West Coast subsidiary of Related Companies, Argyle House features 114 high-end units in the heart of historic Hollywood, next to

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The prominent developer and owner of the luxury apartment building in Los Angeles known as Argyle House is looking to let go of the 18-story property, Commercial Observer has learned. 

Developed by Related California, a West Coast subsidiary of Related Companies, Argyle House features 114 high-end units in the heart of historic Hollywood, next to the Capitol Records tower and around the corner from the Pantages Theatre, the W Hollywood and a Metro Red Line station.

Marketing materials shared with CO show the property is offered on an all-cash basis, or with financing in place of $80 million at 3.65 percent interest. An asking price was not included, and Related did not return requests for comment.

The firm spent $90 million to build Argyle House, according to reports when the property opened in 2018

The building at 1755 Argyle Street includes a mix of studio, one-, two- and three-bedroom units. Online listings currently show monthly rents ranging between $2,895 for a studio and $9,495 for two-bedroom units.

Designed by LARGE Architecture, the building also features an outdoor pool and spa, a barbecue area and a fitness center. The building is home to tenants including movie producers, celebrities, CEOs, professional athletes, and software engineers, according to Related. Millennium Partners is also building a $1 billion residential and retail complex on parking lots by Capitol Records and Argyle House.

Cushman & Wakefield is marketing the property for sale.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Refinery29 subleasing at 225 Broadway for move in with Vice – Robert Khodadadian

Figuring out office space is becoming a vice for a major media company. Refinery29 is subleasing 15,000 square feet at Braun Management’s 225 Broadway to healthcare technology company Tomorrow Health, the Commercial Observer reported. Employees of the women’s lifestyle media brand have already moved to owner Vice Media’s offices at 289 Kent Avenue in Williamsburg. …

Miki Naftali, Meredith Marshall talk development, death of 421a – Robert Khodadadian

As industry leaders warn that the demise of a property tax break will mean fewer affordable apartments, one developer held out his Williamsburg project as Exhibit A. Miki Naftali, chair and CEO of the Naftali Group, said his company had planned to set aside 30 percent of the rental units in the second phase of …

Webster Bank Provides $22M Acquisition Loan for Philly Industrial Buy – Robert Khodadadian

Webster Bank Provides $22M Acquisition Loan for Philly Industrial Buy – Robert Khodadadian Velocity Ventures Partners has nabbed $21.9 million of acquisition financing to purchase an industrial asset in Philadelphia, Commercial Observer has learned. Webster Bank supplied the three-year floating-rate bridge loan for Velocity’s $22.3 million acquisition of a 471,0000-square-foot logistics property at 5660 Rising Sun Avenue from Cardone Industries. In addition to funding the acquisition, the balance

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Velocity Ventures Partners has nabbed $21.9 million of acquisition financing to purchase an industrial asset in Philadelphia, Commercial Observer has learned.

Webster Bank supplied the three-year floating-rate bridge loan for Velocity’s $22.3 million acquisition of a 471,0000-square-foot logistics property at 5660 Rising Sun Avenue from Cardone Industries. In addition to funding the acquisition, the balance sheet loan will also finance planned capital improvements. 

Walker & Dunlop arranged the transaction with a team led by Michael Stepniewski, Jonathan Schwartz and Michael Ianno

Stepniewski noted that Walker & Dunlop Investment Partners (WDI), a Denver-based subsidiary of W&D, is providing equity to Velocity as part of a joint venture on the acquisition deal, making for an ideal setup to get the brokerage involved with the financing. 

“It was kind of a group effort and a real collaboration between two internal groups of Walker & Dunlop to facilitate the debt out of New York and then having the WDI guys out of Denver providing the bulk of the equity capital in a JV partnership with Velocity,” Stepniewski said. 

“WDI has done a tremendous amount of work in the industrial space, and it’s a group that Willy Walker is very focused on growing.”

Cardone, an auto parts manufacturing company, is the sole tenant of the property. Velocity’s acquisition adds to its over 6 million square foot portfolio of industrial assets throughout  Pennsylvania and New Jersey.

Officials for Webster Bank and Velocity did not immediately return requests for comment.

-Andrew Coen can be reached at acoen@commercialobserver.com

 

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Real estate tech is coming for your business – Robert Khodadadian

Ignore proptech’s advance at your own peril. That central message emerged from an afternoon panel discussion at The Real Deal’s New York City Showcase + Forum Thursday, where the real estate industry was said to be undergoing its most profound transformation in decades. “I think we are actually in the midst of one of the …

How a basic Bronx supermarket rezoning devolved into food fight – Robert Khodadadian

How hard would you fight to save a batting cage and 12 vacant parcels in your quasi-suburban Bronx neighborhood? Pretty hard, if you wanted to keep 339 apartments — some of them affordable — out of your backyard. In what project supporters call a classic case of Nimbyism, hundreds of Throggs Neck residents are rallying …

Home sales, building to slow: Fannie Mae – Robert Khodadadian

Home prices have reached historic highs in recent months, but low inventory and rising mortgage rates have some economists warning of a slowdown in both sales and homebuilding. A “meaningful slowdown” could be headed for home sales in the second and third quarters, according to an outlook from Fannie Mae reported by Inman. The economists …

Gary Barnett has something to say – Robert Khodadadian

Gary Barnett doesn’t do many interviews. But it turns out that he has a lot of opinions. The billionaire founder and president of Extell Development shared a few in a rare sit-down Thursday, including: that he should not have to pay millions of dollars to holdout tenants; that it’s wrong to say foreign buyers of …

G4 Capital Provides $92M in Construction Financing for Rabsky’s Brooklyn Development – Robert Khodadadian

G4 Capital Provides $92M in Construction Financing for Rabsky’s Brooklyn Development – Robert Khodadadian Rabsky Group has landed $92 million in construction financing for its soon-to-be mixed-use property in Brooklyn’s Gowanus neighborhood, Commercial Observer can first report.  The 526,118 square feet rental property will span 22 stories and include retail on the street level.  G4 Capital Partners provided the loan, which refinances acquisition debt and also funds the asset’s predevelopment.

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Rabsky Group has landed $92 million in construction financing for its soon-to-be mixed-use property in Brooklyn’s Gowanus neighborhood, Commercial Observer can first report. 

The 526,118 square feet rental property will span 22 stories and include retail on the street level. 

G4 Capital Partners provided the loan, which refinances acquisition debt and also funds the asset’s predevelopment. Galaxy Capital’s Henry Bodek negotiated the debt. 

Rabsky Group bought the 526,118-square-foot parcel, located at 313-315 Bond Street, from Yoel Goldman’s All Year Management in 2019. The development site traded hands for $80 million, The Real Deal reported, with Goldman retaining a 12.5 percent stake in the project. 

G4 and Bodek teamed up on another financing in December when The Jay Group acquired 101 Fleet Place in Downtown Brooklyn. G4 provided a $130 million loan in the deal, which was arranged by Bodek.

Officials at Rabsky Group and G4 Capital did not immediately respond to requests for comment.

Emily Fu can be reached at efu@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

CBRE doubles down on flex-office provider Industrious – Robert Khodadadian

CBRE cast another vote of confidence in flex-office provider Industrious, handing the co-working startup another nine-figure sum. The company announced this week it was investing another $100 million in Industrious. Part of the investment will go towards accelerating international expansion for the co-working company, which recently announced international acquisitions in Asia and Europe. Jamie Hodari, …

Rising interest rates will dampen city’s investment sales market this year – Robert Khodadadian

Activity in New York City’s investment sales market continued to rebound in the first quarter of 2022, but a slowdown could be on the horizon as rising rates drive up borrowers’ costs. Dealmakers bought and sold 582 properties in the quarter, a year-over-year jump of 53 percent, according to a report by Ariel Property Advisors. …

Connecticut CCIM Chapter holds successful case study mixer at Quarry Walk development

Connecticut CCIM Chapter holds successful case study mixer at Quarry Walk development nerej.com – Oxford, CT The Connecticut CCIM Chapter recently held a successful case study and mixer event at Quarry Walk. The event pulled nearly 50 real estate profess…

nerej.com – Oxford, CT The Connecticut CCIM Chapter recently held a successful case study and mixer event at Quarry Walk. The event pulled nearly 50 real estate profess…

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Romano Shaw of Sentry Commercial awarded CCIM designation

Romano Shaw of Sentry Commercial awarded CCIM designation nerej.com – Shown (from left) are: Stanley Gniazdowski, CRE, CCIM of Realty Concepts;
Stephanie Romano Shaw, CCIM, of Sentry Commercial;
CT Chapter president Eric Amo…

nerej.com – Shown (from left) are: Stanley Gniazdowski, CRE, CCIM of Realty Concepts;
Stephanie Romano Shaw, CCIM, of Sentry Commercial;
CT Chapter president Eric Amo…

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Industrial and Multifamily Boom in the Southwest as Some Retail Lags

Industrial and Multifamily Boom in the Southwest as Some Retail Lags commercialobserver.com – Between wildfires and the COVID-19 pandemic, it’s been a trying two years for Southern California and the Southwest. Partner Insights spoke to Matt Felsot, Southwest regional manager of real estate b…Tweeted by @gabeonthego https://twitter.com/gabeonthego/status/1527369131460132864

commercialobserver.com – Between wildfires and the COVID-19 pandemic, it’s been a trying two years for Southern California and the Southwest. Partner Insights spoke to Matt Felsot, Southwest regional manager of real estate b…

Tweeted by @gabeonthego https://twitter.com/gabeonthego/status/1527369131460132864Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Corporate Raider Sets His Eyes on Staid World of Canadian REITs

Corporate Raider Sets His Eyes on Staid World of Canadian REITs finance.yahoo.com – (Bloomberg) — When Covid-19 upended the global property market two years ago, few companies seemed as poorly positioned for the new normal as Artis Real Estate Investment Trust. Most Read from Bloom…Tweeted by @CFMAMASS https://twitter.com/CFMAMASS/status/1527355980169695243

finance.yahoo.com – (Bloomberg) — When Covid-19 upended the global property market two years ago, few companies seemed as poorly positioned for the new normal as Artis Real Estate Investment Trust. Most Read from Bloom…

Tweeted by @CFMAMASS https://twitter.com/CFMAMASS/status/1527355980169695243Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Pension Funds Eye Higher Real Estate Allocations

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wealthmanagement.com – With asset managers projecting annual total returns north of 7.0% through 2026, pension funds remain bullish on commercial real estate.

Tweeted by @McKennaCapital https://twitter.com/McKennaCapital/status/1527468245644607495Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Meeting CRE Investment Challenges: DLA Piper Summit Highlights

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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The Most Common Types of Commercial Real Estate Loans

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Mark C. Biderman Sells 10,000 Shares of Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Stock

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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CREW Network Launches Pledge for Action to Advance Women and DEI in Commercial Real Estate

CREW Network Launches Pledge for Action to Advance Women and DEI in Commercial Real Estate dmagazine.com – Diane Butler of Butler Advisers encourages every CEO in the CRE industry to sign on and commit to real change.Tweeted by @CookseyPR https://twitter.com/CookseyPR/status/1526265398856933384

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Does the Stock Market Have You Down? Consider These Alternative Real Estate Investments.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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I-sales Roundup: Victor Sigoura Buys UES Building For $21M

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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Industry Leaders Take CRE’s Pulse at DLA Piper Summit

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

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9 Ways to Get Commercial Real Estate Leads (Without Cold Calling)

9 Ways to Get Commercial Real Estate Leads (Without Cold Calling) postalytics.com – Discover tested and true ways to generate more leads for your commercial real estate portfolios. Read more on Postalytics.

postalytics.com – Discover tested and true ways to generate more leads for your commercial real estate portfolios. Read more on Postalytics.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Growing Your Commercial Real Estate Portfolio

Growing Your Commercial Real Estate Portfolio signnn.com – Whether you are brand new to CRE or a veteran investor, the time is going to come when you want to start growing your commercial real estate portfolio.Tweeted by @SIG_NNN https://twitter.com/SIG_NNN/status/1527385133577281536

signnn.com – Whether you are brand new to CRE or a veteran investor, the time is going to come when you want to start growing your commercial real estate portfolio.

Tweeted by @SIG_NNN https://twitter.com/SIG_NNN/status/1527385133577281536Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

How to Create A Winning Commercial Real Estate Marketing Strategy in 2022

How to Create A Winning Commercial Real Estate Marketing Strategy in 2022 sharplaunch.com – Check out the steps on how to create a winning commercial real estate marketing strategy in 2022 to market commercial real estate to grow your businessTweeted by @SharpLaunch https://twitter.com/SharpLaunch/status/1527350369893830682

sharplaunch.com – Check out the steps on how to create a winning commercial real estate marketing strategy in 2022 to market commercial real estate to grow your business

Tweeted by @SharpLaunch https://twitter.com/SharpLaunch/status/1527350369893830682Read More

Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Bridge Loan Lenders for Commercial Real Estate

Bridge Loan Lenders for Commercial Real Estate nav.com – When aquiring or revenovating commercial real estate, bridge loans can be invaluable. Learn how to find and choose bridge loan lenders.

nav.com – When aquiring or revenovating commercial real estate, bridge loans can be invaluable. Learn how to find and choose bridge loan lenders.

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Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. For more information, please visit https://www.skylineprp.com/

For more information please visit http://www.skylineprp.com

Eric Adams critiques DOB, wants to roll out “red carpet” for development – Robert Khodadadian

Eric Adams knows his audience. “What oil is to Texas, real estate is to New York,” the mayor told a crowd of real estate professionals at The Real Deal’s New York City Showcase + Forum Thursday, noting the significant chunk of city revenue the industry provides. In remarks at the Metropolitan Pavilion, the mayor criticized …

Music Rights Manager SESAC Relocates on Billionaire’s Row – Robert Khodadadian

Music Rights Manager SESAC Relocates on Billionaire’s Row – Robert Khodadadian SESAC, a music rights management company, has leased the entire 24th floor at 250 West 57th Street, according to landlord Empire State Realty Trust. The company, which was founded in 1930 as the Society of European Stage Authors and Composers, inked a 10-year lease for 12,611 square feet. Asking rent in the deal was in

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SESAC, a music rights management company, has leased the entire 24th floor at 250 West 57th Street, according to landlord Empire State Realty Trust.

The company, which was founded in 1930 as the Society of European Stage Authors and Composers, inked a 10-year lease for 12,611 square feet. Asking rent in the deal was in the high $60s per square foot. 

The Nashville-based organization will relocate down the street from the 57th floor of 152 West 57th Street, ESRT told Commercial Observer. SESAC also has offices at 40 Wall Street in the Financial District.

The 26-story, 540,000-square-foot property between Broadway and Eighth Avenue recently underwent significant renovations, including a new lobby, new windows and updated electrical, HVAC and plumbing systems. 

TJ Hochanadel of JLL represented SESAC in the lease negotiation. Jordan Berger handled the deal in-house for ESRT, along with Paul Amrich, Neil King, Alexander Golod and Anthony Manginelli of CBRE. Spokespeople for JLL and CBRE didn’t immediately respond to a request for comment.

The building also has other music-related tenants, such as music publisher Concord, music rights nonprofit ASCAP, production group ​​Distinguished Concerts International New York.

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com

Dolphin Mall in Miami Scores $1 Billion Loan – Robert Khodadadian

Dolphin Mall in Miami Scores $1 Billion Loan – Robert Khodadadian Mall owner Taubman has secured a $1 billion loan collateralized by Dolphin Mall Miami this week.

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Mall owner Taubman has secured a $1 billion loan collateralized by Dolphin Mall Miami in Sweetwater, Fla., this week, Commercial Observer has learned.

The 1.4 million-square-foot super-regional mall is one of the highest-volume shopping centers in the United States, and surpassed pre-pandemic income in 2021, according to CMBS loan documents. Net income averaged more than $90 million annually in the three years preceding the pandemic, but declined to less than $70 million in 2020. However, income bounced back to $93 million in 2021 as travel restrictions eased and businesses reopened, per documents from DBRS Morningstar

The two-year, interest-only floating-rate loan was issued at a 2.6 percent interest rate. The loan was issued by Wells Fargo and JPMorgan Chase and has three 1-year extensions. Loan proceeds will be used to pay existing debt and cover closing costs. Taubman declined to comment on the transaction.

The mall was appraised in January at $1.67 billion, or $1,166 per square foot, which equates to a 59.7 percent loan-to-value ratio. However, an appraisal report from Cushman & Wakefield projected the mall value would improve to a stabilized market value of $1.7 billion by Jan. 1, 2023, due to the opening of the planned Live At Dolphin Mall.

Taubman and Cordish announced plans last December to build Live at Dolphin Mall at a cost of $20 million, with Taubman contributing $3.5 million and the balance from Cordish. It will renovate 32,000 square feet of exterior-facing restaurants and add a 30,000-square-foot outdoor plaza as a gathering space for live music, sports viewing, festivals and community events. It will be anchored by a Sports & Social restaurant.

The mall was completed in 2001 and has more than 240 stores and restaurants. It is Miami’s largest outlet center with a roster of national brands, restaurants and big-box retailers such as Bass Pro Shops Outdoor World, Saks Off Fifth, Forever 21, Ross Dress for Less, Bowlero and Cobb Theatres. 

Comparable in-line sales fell from $915 per square foot in 2019 to $516 per square foot in 2020, but bounced back to $847 per square foot in 2021.

Occupancy at the mall averaged 96.2 percent between 2017 and 2021, never falling below 92 percent despite pandemic-related store closures. Miami has the lowest retail vacancy rate across 81 markets tracked nationally at 3.4 percent as of the first quarter, according to Cushman & Wakefield’s U.S. National Shopping Center Markets report. That’s compared with an overall 6.3 percent vacancy rate for retail properties nationally.

David Nusbaum can be reached at dnusbaum@commercialobserver.com.

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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. To learn more about Robert Khodadadian and GROUND LEASES please visit https://www.skylineprp.com/whatisagroundlease

For more information please visit http://www.skylineprp.com