Connect with us

Roundup

Real Estate Roundup 11.13.20

Funnel CEO Tyler Christiansen

Real Estate Roundup:

National Deal Roundup

National Acquisitions 

  • Hill Street Realty has acquired 6262 Reseda Boulevard in the small neighborhood of Tarzana in Los Angeles from Debra Bechirian Butler for $27.1 million. The residential property consists of 118 units. (CO)
  • Apollo Global Management has acquired 3150 Fairview Park Drive, a 257,489-square-foot, trophy office building in Falls Church, Va., from Clarion Partners for $90 million. The property is fully leased as the global headquarters for General Dynamics Information Technology, which started a long-term lease in March 2019. (CO)

National Financing 

  • Invesca Development Group has secured a $50 million bridge loan from Madison Realty Capital (MRC) for its newly-built apartment development at 475 Southeast First Street in Pompano Beach, Fla. The loan retires a portion of the $102 million construction financing package provided by MRC in April. (CO)
  • Capital One has provided a $513 million Freddie Mac-backed debt package to Harbor Group International to refinance a bundle of eight multifamily assets in the mid-Atlantic region that were part of the massive 24-property Beacon Portfolio. The collection of 10-year loans includes five years of interest-only payments under secured overnight financing rate-based floating rates. (CO)
  • MDH Partners has secured $84.3 million in post-acquisition financing from Wells Fargo on a portfolio of six industrial properties located throughout the Sun Belt region. The five-year, floating-rate loan financed the 1.58 million-square-foot portfolio with its assets located in Miami; Atlanta; Phoenix; Greensboro, N.C.; Memphis, Tenn.; and Tampa, Fla. (CO)
  • Scape North America has secured a $165 million construction loan from Madison Realty Capital for its multi-family development at 1252-1270 Boylston Street near Fenway Park. The 451-unit asset will span 291,000 SF, and includes a retail component (19,380 SF). (CO)

National Leasing

  • Raytheon Technologies has renewed its 116,000-square-foot office lease at Monday Properties’ 1100 Wilson Boulevard, a 530,000-square-foot office building in Rosslyn, Va. The company’s lease was not due to expire until August 2023, but it extended it through 2028. (CO)

Office market update

  • Companies in the greater New York City area have had the least success among major U.S. regions bringing employees back to the office. Only 13.1% of workers were back in the office last week. (WashingtonPost)

Tech 

  • Funnel, a startup that helps landlords manage their rental portfolios, has raised $14.1 million from RET Ventures to meet a surge in demand for online leasing tools. Trinity led the startup’s $8 million Series A in 2015. (TRD)

Personnel 

  • The Georgetown Company has appointed Vishal Chawla, a partner at Ernst & Young until 2019, as chief financial officer, replacing Robin Rasamny, who is retiring. (CO)

This section was part of our premium newsletter only available to subscribers. Email theteam@theredaily.com to learn more. Enjoy the preview!

Continue Reading
To Top