News

The financing was announced by JLL Capital Markets, which worked on the deal on behalf of Summit to place eight uncrossed, fixed-rate loans with terms of 10, 12 and 15 years with a correspondent life insurance company.

George Comfort & Sons, Inc.has completed a 15-year, 60,000-square-foot lease with Industrious at 135 West 50th St. in Midtown to premium workplace provider Industrious.

The deal for the more than 650,000-square-foot complex on 70 acres is expected to close in the second half of this year.

Acadia Realty Trust, a real estate investment trust specializing in the retail asset class, has been on a shopping spree for assets in the SoHo submarket, acquiring assets along the Greene Street corridor in a total aggregate of $100 million.

L3 Capital has secured a $90 million floating-rate loan to finance a retail portfolio comprised of 11 assets in Williamsburg, Brooklyn, totaling 85,000 square feet in a prime retail corridor.

The report notes that city's average daily rate rose 5.8% year-over-year to $202.41 and revenue rose 4.3% year-over-year to $707 million.

Evergreen Real Estate Group commenced construction on the $81-million project at 4515 N. Winchester Ave. in Chicago's Ravenswood neighborhood last week.

BioReference Laboratories is the firm's largest tenant leasing more than 227,037 square feet in Elmwood Park spread across four buildings in Alfred Sanzari Enterprises' portfolio.