Northeast

Icon Realty Management received the loan from Madison Realty Capital.

The developers received a $39.5 million constructive loan to build a 10-story office building at 76 Eighth Ave.

The appointment will allow Steve Quick to completely focus on the global platform and initiatives.

The portfolio, which also contains a Northern Virginia sub-portfolio, is the largest multifamily transaction in Philadelphia to date, according to Morgan Properties.

An entity of BRT Apartments in which the firm has a 65% interest, has purchased the 312-unit Vive at Kellswater community for $48.1 million, including $33.4 million of mortgage debt assumed in connection with the acquisition.

The two companies together will have approximately $475 billion of assets under management.

The underlying fundamentals of the real estate market remain healthy, according to a DWS report,

The reasons: institutional demand for commercial real estate is much stronger than in the past and there is a growing acceptance of using as less leverage to finance deals.