The multifamily asset class is still sound, but signs of softness are emerging that may give some investors pause.

According to a November rent report, New York rents have declined 2.8% over the past month, and have decreased sharply by 17% in comparison to the same time last year. Comparable cities nationwide show more affordable rents compared to New York

President of RelatedISG, Craig Studnicky, predicts a strong recovery for the condo market in 2021 thanks to condo sales traction and new developments.

The Chicago Capital Markets Team of Cushman & Wakefield represents Investcorp and Brennan Investment Group in the deal.

Stephan Leccese will initially focus on two major initiatives: NPL Swap – a marketplace for non-performing loans; and Investors Loan Servicing – a specialized servicer for business purpose loans.

JLL Capital Markets arranges the $48-million sale and the $24-million acquisition financing.

The Geauga Lake District will include retail, restaurants, residential and other commercial uses.

The renovated 550,000-square-foot last-mile facility is located in suburban Northern NJ.