Capital Markets

"The truth is, all of us will need to take a haircut in this unnerving time."

Investment sales for co-ops and condos in Manhattan took off in the first quarter of the year, with sales jumping year-over-year after two straight quarterly declines. Now, the springboard that was the strong economic market supporting investment activity has faltered because of the coronavirus pandemic, also known as COVID-19.

Borrower Parkway Property Investments recently obtained a five-year floating rate refinance loan for Two CityWestPlace, an office tower totaling 443,549 square feet at 2107 CityWest Blvd.

Many brokers have shifted to virtual showings and meetings to sell properties during the pandemic, but the trend could outlive social distancing.

Rising interest rates and restricted capital is also a major impact on the Phoenix market.

Centennial Southeast Florida division president J.C. de Ona and senior commercial loan officer Jay Brito in Miami issued the loan for the student housing portion at VOX Miami.