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Financing

Real Estate Roundup 11.15.19

Previous rendering of 4650 Broadway (Credit: DCP/Acadia Sherman Ave LLC)

Real Estate Roundup

Financing

Arden Group has secured a $44 million acquisition loan from Scale Lending to acquire a development site at 4650 Broadway in Inwood. The developer is planning to build a 300,000 SF mixed-use development. (CO)

Leasing

Luxury furniture designer Ferrell Mittman has inked a 3,700 SF lease 228 East 58th Street between Second and Third avenues. Lease includes 2,200 SF on the ground floor, 1,000 SF on the second floor, which includes an outdoor patio, and 500 SF in the lower level for storage. The rent for the building comes to $105 per SF. (NYPost)

Superstructures Engineers + Architects has inked a 33,561 SF office lease on the 25th floor of at 14 Wall Street. Asking rent on the deal was $55 per SF. (NYPost)

Other news

Brookfield has boosted its bet on malls, adding exposure to a corner of the real estate market that some of the firm’s investment rivals are avoiding… Brookfield acquired JPMorgan’s stakes in the Perimeter Mall in Atlanta, Park Meadows in Denver, Towson Town Center in Maryland and the Shops at Merrick Park in Coral Gables, Florida. The transaction valued the five malls at $3.2 billion, including debt. (Bloomberg) 

RFR Realty filed a lawsuit against Philip M. “Tod” Waterman III over the ground lease at the Lever House building at 390 Park Avenue. (TRD)

Inside Anbang’s Nearly $3 Billion Bet on the Storied Waldorf Astoria. (WSJ)

Developers and senior-housing companies have spent billions of dollars over the past five years to build facilities that provide housing, food, medical care and assistance for the elderly. But this wager on elderly care is falling short of expectations, and there are concerns that it could become one of the biggest real-estate miscalculations in recent memory. That is in part because of “aging-in-place” technologies that are starting to enable seniors to enjoy similar living standards and access to care in their own homes. (WSJ)

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