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Investors Bank's largest single CRE loan, which was completed at the end of 2018, was a $42 million transaction to refinance the commercial mortgages on 27 retail properties in multiple locations.
Pembrook Capital's Stuart Boesky says he's bullish on Philadelphia's multifamily market and this transaction is an investment into a neighborhood that is in the process of rapid revitalization.
The flexible office provider is now occupying close to 60,000 square feet, the full eighth floor of Columbia Property Trust's landmark office property.
The company which creates and operates active lifestyles facilities branches out to its second Brooklyn location, leasing more than 30,000 square feet at 87 Kent Ave.
The New York City metropolitan area remained the top market in the US with $28.7 billion in commercial/ multifamily construction starts, an increase of 10% after posting a 13% decline in 2017.
It is amazing to me that after such a long public process, and a big win, NYC may end up with nada, other than recognition of a city that can't get out of it's own way to promote growth.
The team will engage in a value-add strategy focused on identifying under-managed and under-capitalized assets and will seek to create value by improving management, performing incremental leasing and increasing rents via strategic capital improvements.