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The loans were originated by the firm's recently launched CrossHarbor Senior Debt Income Fund, which is based in Chicago. The fund partnered with National Life Group to provide Scannell Properties of Indianapolis with the construction financings.
MCR, which is headquartered in New York City and Dallas, acquired the 150-room hotel located nearby the Prudential Center, a major entertainment venue and home to the New Jersey Devils, for an undisclosed price.
The facility in Bryan, OH totals 320,500 square feet and is located at 918 South Union St. The second property is 148,000 square feet and is located at 1776 Airport Park Court. ICP's holdings in Holland now total more than 1.5 million square feet.
The brokerage firm ranked the top 10 warehouse markets with the Inland Empire, CA leading the way with 23.4 million square feet in the ground and a 3.2% vacancy rate and 9.4% annual rent growth.
American Equity Partners plans to improve and reposition the 23-story One Tower by reimagining the lobby, expanding the amenity package and “reinvigorating the trophy asset,” CBRE reports.
Morgan Stanley provided the 10-year, interest-only loan to Strategic Real Estate LLC to finance the sponsor's prior all-cash acquisition of the office complex.