News

Columbia Pacific Advisors Bridge Lending provided the funding that will allow INDUSTRY GO to acquire 14-16 Burma Road and 150 Theodore Conrad Drive in Jersey City and convert them into 180,777 square feet of studio space.

Edward J. Minskoff Equities has acquired 29 Jay St., a development site in Dumbo, Brooklyn for $61.5 million.

In Tribeca's East Historic District, 36 Walker St., a five-story walk-up building that retains its original tin ceilings, windows and interior brick walls, has sold for $8.75 million.

Real estate owner and developer BEB Capital has formed a new division offering bridge loans to meet the growing demand for last-mile distribution services. The new division will make loans on small to mid-sized assets on the East Coast, where BEB Capital operates.

The city's Health Department notes that the defined use and management of the site has not been determined as yet. The facility could be used to care for COVID-19 patients or to relocate low-acuity patients from area hospitals to open more beds at those facilities.

In addition, the REIT states that several planned portfolio sales will likely be delayed until later this year or next year due to the lack of financing available for hotel transactions.

Taubman Centers has sent a letter to tenants informing them that they have to make their payments on time.

"This suggests the average lease-up time for new speculative product following delivery in Chicago's industrial market is longer than other markets. This lease-up time will likely be extended further by the Coronavirus pandemic and ensuing economic response," Colliers states.