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Acquisitions

Real Estate News Roundup – 6.19.19

36 Central Park South (Credit: Park Lane Hotel)

Acquisitions 

Charles (AKA Rusty) Holzer has acquired the land under the Dream Downtown hotel at 355 West 16th Street in Chelsea for $175 million. Bank of America provided $160 million in financing for the deal, which includes a $40 million gap mortgage. Details surrounding the deal are still sparse. (TRD)

The Chetrit Group has acquired a national portfolio of 10K+ rental units from Roco Real Estate for around $573 million… The 55-property portfolio consists of buildings in Alabama, Arkansas, Florida, Illinois, Indiana, Louisiana, Mississippi, Ohio, New York, Tennessee, and Texas. (TRD)

Financing

Related Companies + Allianz’s $2.2 billion acquisition of an office condo at 30 Hudson Yards was funded in part with a $1.43 billion CMBS loan from Deutsche Bank, Wells Fargo, and Goldman Sachs. (CO)

Retail and office leasing

Suitsupply has expanded its retail lease to 3,903 SF in Brookfield Place at 230 Vesey Street. (CO)

Norris McLaughlin inks a 27,488 SF lease at Boston Properties’ 7 Times Square. Asking rent was in the high $70’s per SF. (CO)

Politics and other news

More on interest rates… The Federal Reserve is getting ready to surrender to the market. (Baron’s)

Goldman Sachs has altered its Fed forecast, changing from expectations for no rate moves to two expected cuts before the end of the year. (CNBC)

Investors are buying more of the U.S. housing market than ever before. (WSJ)

Fortress considers sale of real estate lender CoreVest. (Bloomberg)

Macklowe’s Tower Fifth in trouble due to US tensions with Venezuela. (NYPost)

10-Year Treasury Yield falls below 2%, defying expectations (WSJ)

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